Okay, as they say in Missouri, Progress as Promised. Here are my answers to the e-mail.
If you choose to be a Realtor, you will be choosing one of the most challenging and most rewarding careers you can find. If you love dealing with people, both good and bad, real estate will be a great career path. At least give it a try, statistics say that half the people I'm working with right now won't be working with me in 2 years, but if you can make it, the rewards are great!
-Did you go to college? If so, where, and what did you major in? If you could have changed one thing about what you did in school what would it be?
I did go to college, a bible college actually. I majored in Bible and Church Leadership. Change? Definitely, I'd finish my degree, real estate is making that happen.
-How much training did you need to get your job, and how much do you need to keep your job?
I worked a lot of retail management jobs before going into real estate. That helped immensely because you are constantly dealing with the public in retail and real estate. Many times you have to find "creative" ways to please your client while still attaining your goals and getting the job done. You have to be a "people" person. As far as educational training, it's always good to have a college degree. If you get a degree in real estate, it helps but isn't necessary. You can find Pre-license classes all over the state that will usually cost around $500. You then have to pass the real estate exam ($99). Then depending on which broker you go with, they will have classes for you, or send you to classes, if they are any good. My firm has continual classes every week and 3 different managers that I can go to with questions. The state requires 36 hours of required classes every 3 years, so taking 12 a year is no big deal.
-Point by point, what is a typical day like?
Depending on what you like, get up early or late (great benefit of this field)
Check e-mails and websites statistics
Prospect for future clients
Check in with current clients
Go to lunch with clients or possible clients
Network wherever I can
Hang out in public places for easier prospecting (coffee shops, Barnes & Noble, etc.)
Actually meet with buying and selling clients in the evening, unless I'm busy with something else
-What are the positives of your job? What about negatives?
Positives: I make my own schedule, which means I also decide how much money I make (general rule: the busier you are, and smarter you work, the more money you'll make)
I can make ALOT of money!
I have a huge base of friends from clients to fellow Realtors
I have a lot of free time, to do other things that are important to me, i.e. I do a lot of work with my church, and volunteering in the community
Negatives: I have to work with clients that aren't always the nicest, but I still have to please them or else I make no money
Real Estate is strictly commission only
Sometimes the deals can get really "hairy" to make happen
Almost all advertising is paid out of my pocket (websites, training, licensing, Realtor fees, etc.)
Initially, you have to put up A LOT of money to get into a career that you don't know if you'll succeed at or not
-What physical and mental skills do you need to succeed in your job?
Physical skills: None needed, I have a Realtor friend that runs marathons to a friend of mine in south Georgia that has to be close to 400 lbs. Endurance does help though for those long meetings and days.
Mental skills: It's good be able to think on your feet and be quick. Know finances because banks and lenders today have so many loan products that you have to have at least a basic financial understanding of things. You have to be able to predict objections from everyone (clients, banks, escrow, etc.), so you know how to overcome them. And of course, sales and how to sell your product, is the single greatest skill to have.
How did I do? Let me know.
Adam Forney, 515.865.6000
Adam@YourDesMoines.com
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