Note: This 7 part blog series is directed towards all those stay-at-home moms out there who always thought a career in real estate would have to wait until the kids were grown, and to the women Realtors out there struggling with finding the balance between their "ideal of success" versus what truly makes you happy. It's not a business model for everyone, but is something that has been on my heart to share for some time now. Take from it what you will, and know that everyone's journey in life and in real estate isn't and shouldn't be the same for it to be a SUCCESS...

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In this Series I’ll cover:

• Introduction - Why you should begin a career in real estate before the age of 50. Why you should BREAK the stereotype!
  

• Forming your Dream Team – Partnering with another like-minded Mom creates the BASIS of this Business model

• The Basics – How to Become a Licensed Texas Realtor. What fees are involved.

• Choosing Your Brokerage – Training, Commission Splits & Corporate Culture

• Breaking Down the Workload – Time Blocking! This is how you get the part of "eating your cake too".

• Free and Inexpensive ways of Marketing Your Business – with an emphasis on Blogging & Social Networking

• Setting Yourself Up for Success in the Future – When the kids are older, and when your friends just start to think about a career in real estate...you're already on your way!

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Part 7 - Paving the Way for Future Success in Real Estate

Our economy isn't in the best shape right now. I'm pretty sure that everyone reading this knows of at least 3 people that have either lost a job, been turned down for a home loan or had to deal with a Foreclosure or Short Sale personally.

You see, when you go to work for "Corporate America" there are certain risks involved. One of them being layoffs. Downsizing. Pay cuts. You rely on others for your financial benefit.

Now that's not to say that being a business owner is void of risk. Hardly. However...there is one important variable. The boss = YOU! When hard times come it just means working harder. Smarter. Different. Only YOU can fire yourself.

Being a self-employed, independent contractor (Realtor) means that YOU area a business owner. Only YOU decide how to spend your day. Where you spend your marketing dollars. What hours you will make yourself available for work. If you don't want to dress up that day and would rather work at home on the laptop in your PJ's, MORE POWER TO YOU! Of course there are reprecussions for taking your business TOO casually...but like I said...if you do things that would get you fired from other jobs, you just might find yourself firing YOURSELF!

So how does all this philosophy apply to beginning a career in real estate at a traditionally younger age?

1. Many business owners BEGIN their careers after college working for "Corporate America". It isn't until they are unsatisfied working hard for someone else, making someone else richer when they decide to leave and go out on their own.

There are many good reasons for this. Two of the biggest reasons are the knowlege that is gained through working for someone else, and perhaps saving money for the future business venture.

Starting a career in real estate however, has lower barriers to entry.

Obtaining a real estate license can be done relatively easy (as discussed in part 3) and in a relatively quick manner.

The financial startup is MINIMAL when compared to opening your own clothing store, restaurant or other franchise.

**If real estate is something that interests you, then take the leap of faith NOW! If you can make it NOW, in a "down market", then you will be SET when the market picks up. And it will. History tells us so.**

2. But, I have a young family. How can I do real estate AND enjoy spending time raising my kids?

Ummmm...if you have this question go back and read posts 1-6. Seriously.

It can be done. EASILY! You just have to have the right expectations about your business from the beginning!

Real Life Case Study:

Let's say that in your first 5 years in the business you & your partner set a goal to conservatively close 8 - 10 transactions per year. Easily doable goal for balancing work with your partner AND being at home.

Let's say the average sales price in your area = $200,000. Let's assume a 6% commission, with you splitting this commission with the cooperating agent, thus making 3% ($3,000) per deal.

8 deals x $3,000 = $24,000 or 10 deals at $30,000.

(Note: How you and your partner split deals is a personal matter, but needs to be factored in).

So $24,000 - $30,000 per year isn't bad.

In addition to making good money for your family in a job that you can not be fired from, guess what else is going on during these 5 years?

You are making lots of connections.

• You are closing deals, turning customers into raving clients that will be added to your database.
• Your family is growing and kids begin attending school. Your kids friends' parents go into your database.
• Your school age kids will begin activities: sports, church groups, play groups. Guess what? These names are added to your growing database.

Can you see how momentum will pick up?

All of these connections will know that YOU are in real estate. They will relate to you because you are in the same stage of life that they are in. You slowly gain credibility. You continue taking educational courses. Earning designations. Creating a niche. Farming your community.

These steps pave the way for a very prosperous future. When the kids are gone, and you find more time on your hands, you can crank up the heat and begin adjusting your goals upward. Now, you're closing 30-40 transactions per year. You might even build your own team of buyer's agents. The future is YOURS!

And guess what? Your friends who are also finding themselves empty-nesters will begin pondering a career in real estate...

...and you can smile and help them on their way!