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Realtors License

Realtors License

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Old Feb 24th 2012, 4:20 pm
  #31  
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Default Re: Realtors License

Originally Posted by Yorkieabroad
Lol - starting to see why you're looking for a change in career from management consultant....

OK - will take it (almost*) back on topic with the realtor thing - check out your local real estate licensing board, whatever it is - in Texas its TREC. They will have all the education and experience requirements you need to get into the business.

I looked into it a few years back as I do quite a bit of real estate and I was looking for easy access to the MLS to try to save some costs.

Round our way, you become a salesperson first (classroom/exam route) then have to have 4-5 years experience working "in a brokers office" plus quite a few hours more classroom/exam time before you can call yourself a Broker. From memory, it was something like 400 classroom hours to become a salesperson and another 400 to become a Broker. If you didn't have an accredited degree, that second chunk of 400 becomes something like 1000 hours. I have an MBA in marketing that should have got me around that second chunk, but as it was from a UK school, I needed to get the transcripts "translated".

At the end of the day, I wasn't looking to build a new career and wasn't prepared to put in the hours again (at the time I had was an NAEA member in the UK), plus the 4-5 years just for "personal" MLS access, so I didn't go that way.

From talking to a friend who is a Broker, the definition of "working in an office" is quite, erm, flexible - he takes people on on a "supervisory" basis, lets them use his office and takes a massive chunk of any commission they manage to generate. Not a period for getting rich by all accounts!

*if you do go that way, don't fall into the trap of assuming that the marketing of a realtors services can be achieved in the same manner as the company selling air duct/carpet cleaning/oil changes. Get some professional marketing help. Or montor the effectiveness of the campaigns of the office you tie to- maybe in some markets the blind mailshots do work.
Just to add, a real estate agent is usually an independent contractor and not an employee of the broker. Therefore no benefits are usually provided and the real estate agent is responsible to pay self employment tax instead of FICA. However there are tax advantages to being an independent contractor since most expenses plus a home office can be written off as a business expense.
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Old Feb 24th 2012, 5:35 pm
  #32  
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Default Re: Realtors License

Originally Posted by Michael
...since most expenses plus a home office can be written off as a business expense.
But it's got to be dedicated home office space, it can't just be a desk/computer at the end of a living room.
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Old Feb 24th 2012, 5:39 pm
  #33  
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Default Re: Realtors License

Originally Posted by Bob
But it's got to be dedicated home office space, it can't just be a desk/computer at the end of a living room.
I have the home office so I know that its not an issue.

On the getting out of Management Consultancy, I am not looking to get out, I am doing very well and need it to fund life while I get up to speed on the realty adventure.

I just do not suffer fools lightly, and have been known to be brutally blunt with almost everyone, but in a way that has always worked well for me. I hope that I did not offend anyone.
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Old Feb 24th 2012, 6:48 pm
  #34  
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Default Re: Realtors License

Originally Posted by njmackem

I just do not suffer fools lightly, and have been known to be brutally blunt with almost everyone, but in a way that has always worked well for me.
Doesn't sound like a recipe for success in the world of real estate!
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Old Feb 24th 2012, 7:32 pm
  #35  
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Default Re: Realtors License

Originally Posted by njmackem
I just do not suffer fools lightly, and have been known to be brutally blunt with almost everyone, but in a way that has always worked well for me. I hope that I did not offend anyone.
I'm pretty thick skinned - it takes more than being called a naive fool by a stranger canvassing opinions on a discussion board to upset me
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Old Mar 12th 2012, 3:10 pm
  #36  
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Default Re: Realtors License

I took my Realtor exams here in Texas a couple of years ago, it's an enjoyable career. You can work part-time if you wish, but to become an established, recognized Realtor I would recommend full time, or at least dedicate as much time as you can. I would also recommend calling one of the large brokerage firms, Coldwell Banker, Century 21 etc. Their office managers will sit down with you and discuss a career in real-estate. Obviously they will paint a rosy picture and be biased towards their individual brands, however as long as you bear that in mind you may find it informative. Also ask to talk to a new agent while you're there, I found that to be most enlightening. If I can help in any way just message me.

Martin Shufflebotham
<snip>

Last edited by Bob; Mar 12th 2012 at 8:39 pm. Reason: removed the spammy looking bit
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Old Jun 18th 2012, 9:41 pm
  #37  
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Default Re: Realtors License

Well after finally getting through the real estate course here in NJ (75 hours class time) my wife and I both passed our state exams at the first attempt and are now real estate sales people....

Just getting together with a broker now and looking forward to being a royal pain in the arse from here on out.
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