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Is now a good time to become a realtor?

If you are an individual who is looking to get into the Real Estate business, you have probably asked yourself a hundred times, if NOW is a good time to become a licensed Realtor. You initial answer is probably NO, but if you asked any licensed broker, they would probably tell you different.

If you asked any Seasoned Broker, they would tell you that now is in fact the perfect time to become an agent. How is this possible you ask? Upon asking many seasoned brokers if now would be a good time to become a Realtor, the majority of them said that if you can survive and make money in this market, when the market takes a turn for the better, you will reap the benefits of all the hard work you put in during the not so easy market. Keep in mind, if you are considering getting into the market now, you will have to work much harder than you would, since each property can have up to 20 plus offers on it at a given time.

Many of the agents, who have been in the Market since it was at its peak, will probably tell you to reconsider Real Estate and not get involved at this time. This market has taken a toll on these agents, causing a lot of them to give up, finding new careers or lucrative ways of making money. Back in the 1990’s, it seemed like properties sold themselves, and agents just got buyers in the door, people would come to them. Now days, the agent has to seek out the client, put in actual work, so to speak. Most of them are not used to this, and just don’t put in the effort they should.

Being an agent takes a certain type of person. You have to keep a positive attitude no matter what kind of market it is. I think that becoming a Realtor in this Market; can work for a new agent. Being educated in the on the market conditions, will help you to become a successful agent, if not now than when the Market picks up again. Hard work in this business really pays off, no matter how rocky the real estate market may be. Just like in a good market, you only get what you put into it. So if you are considering becoming an agent, simply because you think it’s a lot of money, for little work now is not a good market for you. You have to be willing to put in the hard work in order for it to payoff they way you expect. Even in a good market, the harder you work, the more successful you will be.

The “Market” should never determine how successful you will be in any given market. Don’t let the media and all these news reports on the Market scare you. Take all the necessary training classes and speak with your Broker anytime you start to feel frustrated. You always have the support that you need right at your finger tips.

I believe the answer to this heated question is YES. Take a chance and reap the benefits of this lucrative Business that we call Real Estate.

http://www.homesinsale.com

Yaniv Raz is a veteran in the Real Estate business. A Studio City Resident for more than 7 years, Yaniv has made real estate a life time career. "Real Estate is a competitive business but when you do it with integrity it makes a world of difference, integrity is the key word in the work I do", said Raz in a recent meeting with San Fernando Valley residents.

Yaniv is an Israeli citizen, he first moved to New York to pursue a musician career, he then moved to Los Angeles, he settled first in Sherman Oaks and then in Studio City. Yaniv bought his first property in Studio City in 2002, achieving "The American Dream", the feeling of satisfaction was so great, it was then when he discovered his real passion...Real Estate.

Since then Yaniv has help families buy their own space on earth. Making families smile is his number one goal and one of the greatest feelings.

Yaniv works all aspects of Real Estate, foreclosures and short sales are his specialty. His vast knowledge on the financial aspect of a transaction, it's a big plus to his customers, making them more comfortable with the life time investment they are about to make. For years Yaniv was in the lending industry, he knows the Real Estate business from every corner, that is why he's the best choice to negotiate a short sale deal.

Call me at any time 310-619-5557 or 1-888-729-8881

Posted by yanni raz on 10/19/2009 12:58 PM

Comments (57)

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57 Comments on Is now a good time to become a realtor?

OCT

I agree....I'm bringing on new agents too. There is plenty of business and I am too busy to handle it alone.

Now is a GREAT time to become a realtor. In fact, ANY TIME is a GREAT time to become a realtor. This is a great profession and the opportunities are absolutely endless.

It is a good time to be a Realtor when you are ready. The right financial position and the right mindset.

Good post!

It's a good time to establish a place in your area IF you cna afford to right now. I hesitate to recommend getting into the business unless the person has another source of income to allow them to get started. Being in a position where you REALLY, REALLY need the money from that commission can be an awful pressure.

Now is a terrific time to become a Realtor if you can withstand the financial perils of the first 12-18 months. It is a great time to learn without having to multi task at the speed of sound.

I could not agree with you MORE. I got into the business in June of 06 when I moved to Panama City, did not know anyone, also did not know about how easy it was when the market was booming. just went to work and have closed almost 40 million in 3 years.

This is a good time for agents who are not afraid to roll up their sleeves and go to work!

I don't think it matters when one jumps into the biz...up/down/medium (is there such a thing?) market trends don't create success or failure on their own. One has to be an entrepreneur, organized, ethical, knowledgable, and with a desire to help others. The rest takes care of itself.

If you are willing to work, put in the time and effort, it is always a god time.

As long as you have cost of living money saved for at least months, then it's a good time. Here on Long Island, business will not come to you, you have to go out and get it. A few years back whe the market here was literally hot, all you had to do was breathe, and you got a listing. That is when you saw a lot of new agents. Now most of them are gone because they realized they now have to go and find new business and not just breathe to get it. If you are not afraid to do that, then I say go for it!

Any time is a good time to be a Realtor, depending on the mindset. I came in last year when the market was going down. People asked me "Why?". My mindset was I was coming in to learn and seize the opportunity to help when other agents were on their way out. If you sincerely help others, the money will just follow. But if you're mentality is to make money first, then you're going to put a lot of pressure on yourself to sell, because you'll be thinking of your "agenda" first instead of your clients.

Walter Espejo, Nashville TN (Weichert Realtors - The Andrews Group)

There are some parts of real estate that new people don't think about before jumping in--calling expireds, withdrawns and FSBO's can be hard for some people. If you have an aversion to doing these things, it's probably not a good time for you. If you are willing to go after the business, anytime is good.

This is a good time to get into the business if you treat it like a job, and you have a realistic view of your earning potential the first year. Real estate success is all about building relationships and having those relationships refer business to you. Now is the time, while the market is slower, to get your education and develop the good habits that are going to carry your business through good times and bad. There is plenty of business for everyone.

I have several agents making 6 figures working REOs and short sales right now. The market is always selectively good.

In my opinion (and experience) a slow market is a great time to start a real estate career. It will require hard work and good habits and time to reap the rewards. Just do it.

Don't underestimate the importance of having money to invest in getting your business going and to pay your bills. I think too many people try to dabble in Real Estate without fully committing. Treat it like you are starting your own company, with all of the financial burdens and potential rewards, and you will do great!

If knew then what I knew now, I'd have gotten in sooner. I made excuses why I didn't jump in when I was younger. I learned from all my previous experience valuable lessons that apply to this business, but I could have learned much of the same lessons in the business. If someone is ready to do what it takes, provide outstanding customer service and learn from those who are willing to teach, come on in.

I'd have to say "no" myself, but I enjoyed reading your perspective nonetheless.

This is such a great time to get into the business! 5 million or so homes will be sold across the country this year. I agree that it's harder than it was 3-4 years ago but that also means that you'll be a better agent from the get go. I have had 5 new agents start this year. One is out of the business before he even got started for personal issues. One is on his way out b/c he isn't willing to put in the work necessary. One is on track to close 6 transactions in his first 6 months. Another agent has closed 8 transactions this year already. The last agent has his first closing this week (8 weeks after he started) and is going on 4 listing appointments this week.

The business is out there - but you have to be aligned with the right broker who is willing to coach you not only in how to talk to a FSBO, and how to write a contract but also in how to grow your business. You also have to be willing to put in the effort, to have some money put aside for the first 6-12 months and be willing to do this full-time. Starting part-time in this market is the death knell for a real estate career as far as I am concerned.

So if you're thinking about it, start by calling the #1 or #2 broker in your area and ask them how they are faring in this market. If they are running ahead of the market (they are up while the market is down or at least less down than the market) great! If they are running about the same as the market, keep looking until you find a broker that has recognized the opportunities in this market and is taking advantage of them, putting them out ahead of the market.

As long as you treat it like a business and plan accordingly, it is a good time. I agree you need 12-18 months reserve to get started.

I think this is a perfect time to start. I started in 1996 when times were tough. I had to actually work for a living. I did and I learned and I grew and I discovered that real estate is a fabulous, profitable profession.

Then all of a sudden, all I had to do was show up and deals just fell in my lap. That lasted about four years and then WHAM! We hit a brick wall. I'm glad I didn't start during the boom. If I had, I wouldn't know how to work this business.

I'm working again and deals are NOT falling in my lap but it's good work.

I think it's important for a person to take a year or so and plan before becoming an agent. A business plan needs to be created, get educated on the market, take classes, etc. Be prepared for a career rather than just "dabbling". Oh - and know how to use a computer!

Tina in Virginia

I agree, anytime is the right time to start for the right individual. There are many Realtor not only surviving this market but also growing their business. Having said that, one need to be aware that this is not an easy career it take a lot of dedication and hard work to succeed.

I think it depends on what you want. An easy pay check, forget it. A job where customer service is important to you, a desire to succeed and the willingness to work hard, then any time is good. The flexibility of this jobs beats anything else I know.

It could be a great time if you're willing to work hard are creative and have sufficient resources to get a new business started. A new way of perceiving the market could be helpful and new "blood" isn't tied to old ways of thinking.

We are adding agents in Boise Idaho again. Our membership had dropped about 20% but we are trending upwards. I hope to add another 15 agents to my company.

I think most folks know (hopefully) that you'll need 6 months of savings in the bank + enough to implement your business plan. You WILL need advertising, board dues, signage, postcards, stamps, ...you get the picture.

Hi Yanni. While there are some naysayers and negative people it is one of the best times: Less competition with other agents and slower time to focus on the basics. ~ Lana

I agree... it's a good time...

I worked for years with a couple of different 'old guys', been in real estate forever... They always told me, 'there's no such thing as a bad market'... Just different opportunities.

It's always a good time to start a real estate career if it's your passion !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Depends what kind of guy you are...some people are just not meant for this biz...

http://activerain.com/blogsview/1293053/bet-you-ve-never-seen-marketing-like-this-

I love what Gary Vaynerchuk says in his new book CRUSH IT!

It's never a bad time to start a business unless you're starting a mediocre business.

I think it is a great time to become a Realtor, since many have quit and moved on to something else. Less competition!

Real estate is a tough business to crack. But if you work hard and use the internet I think you can survive and make it in this market.

Nice post Yanni. Certainly if you can make it in this market you will do well when the market improves. A farmer does not wait until it starts raining to plant his crops. Get rooted in this business now and when the housing "rain" comes you'll reap the fruit of your labor.

Not to mention that many Realtors have left the field so for a hard working person who feel drawn to this profession, not a bad time to join up.

Great article. Im new to the business and actually paused on this question the other day. Unfortunately I didnt find a stratightfoward answer to it...Doesnt matter I feel like Im doing well building connections and selling homes.

I think it couldn't be a better time to really jump in and give it all you got. It is an excellent time to expand the business plan

I have seen several agents who came into the market within the last couple of years get out of the business because they had only had one closing within two years. I think it my depend on the market. Things are still really slow in Williamsburg.

Another key point is that due to soooo many agents getting out of the markets things pick up there will be fewer agents to handle the business. Sure, several will scramble back into the market but if you can establish yourself now you will reap the rewards later.

I think it is a good time because they learn contracts really well as well as submission and lots and lots of counter offers & addendums.

It's funny because I asked someone new (on a normal listing, rare here) if they called the list agent and they looked at me funny. Guess we are skipping some steps.

At any rate, any time is good if you are the RIGHT person with a passion for this biz!

All very good points. I got into the business at the very peak. Once I started to figure out what I was doing, the market during sour. I have remained positive like you mentioned. I feel fortunate to survive thus far, and I think agents who make it through this mess will come out ahead AND have an appreciation for the hard work we are suppose to do for our clients.

There's never a good or bad time, its the right time whenever you are ready to start....and have the right mentoring/coaching and business plan in place.

Hi even do this isn't my best year yet(nobody,s fault), I am agree with you this is the perfect time to get in the business, before we get busy, learn,learn as much you can now.

Not to be picky, but reminder that not all licensed real estate agents are REALTORS. Only icensed real estate agents who belong to the National Association of REALTORS have the privilege of calling themselves a REALTOR. I pay a lot of money for the right to use that title and I am very proud to be able to use it, but I don't like sharing it with someone who hasn't paid to use it. I believe the proper usage would be something more like - licensed real estate agent and REALTOR.

Yanni,

completely agree with you! I do have several friends asking me that same question. I strongly believe that Realtors will always be needed despite any market.

Here in Silicon Valley business is picking up and we all hope we can have a very productive 2010.

Best,

Grover

OCT

Very well said "The "Market" should never determine how successful you will be in any given market." Imagine if Bill Gates, Steve jobs and so forth tried to time the best moment to start their business!

Yes it is a good time....everyone needs to know their are good times as well as bad times in any business.....you work hard and it will work out is the attitude you have to have....

what bothers me with stuff like this is all the positive thinking that you can do anything without ever telling the full story like you better have 6-12 months of reserves in case you make no money. You will be working countless hours with no pay. You will have to invest money yes actually spend money before you make any.

I have seen so many people get into this business get snowed with promises and dreams then lose the car the house and go broke because all they were told is how YOU CAN DO IT!

Without telling them what they have to bring to the table to succeed its gonna take more than a positive attitude.

Yanni,

To quote Charles Dickens, "It was the best of times, it was the worst of times", if you want to be a realtor, it is always good. It is all in the eyes of the beholder!

Wishing you continued success! Alexandra

True so true. We are through the worst i believe. Mush success to you too.

Right we need about a million more :) HAHA. What we really need is better trained and a higher degree agent. I am amazed at the folks in this business and a lot are just for show.

Would agree that now is a good time to become a Realtor if one put the time and effort

you gain a lot of skill that will help you in the future in this challenging market that we have now.

OCT

I think all depends on dedication and courage to face the difficulties..to be a realtor every one should poses this qualities and they can start it any time..and I think this is the right time to be a realtor.

Dean Phelps

Your FHA Guru Yanni, my answer would be the same I would give to a home buyer asking if it is a good time to buy. If they are buying a home for their family the answer is an unqualified yes. Conversely, if the home buyer is wants to get rich quick then an unqualified no would be my answer.

OCT

If you can make it in this market, just imagine what you'll do when it picks up.

OCT

Hello Everyone,

I have a question if anyone could answer for me. I really would like to get into real estate but I was convited of a felony about 7 years ago. What would be my chances. Also I would like to know the steps I should take If there would be no problem with the felony

Sorry by the way I live in california if that would make a difference

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