A local high school girl asked me a bunch of questions about the business. this is what I had to say...
What kind of education do you need?
In Pa, the only thing required is a high school diploma.
Where does the experience come from?
There are pre-licensing classes you must take, but those only prepare you to take the state test. The real experience comes from going out in field and trying.
How did you get started?
Real Estate has always interested me but I felt like I had to go to college, so I went for meteorology. I was there for a year and realized that was not what I wanted to do. I was torn between getting a college degree and getting my real estate license. I decided to go with what interested me more, and got my license.
What are the hours like?
I am usually in the office by 9am and stay until 4pm, but clients usually meet with me in the evening and that might be a few hours depending on what we are doing.
Is it a flexable job?
You are your own boss so you can come and go whenever you please. If you feel like not going into the office one day, it is perfectly ok because no one is there to tell you what to do.
Are there any bennefits/drawbacks to the job?
It may sound silly but the benefits and drawbacks are pretty much the same. You have to push yourself everyday to go into the office. No one is going to tell you what to do or how to run your business. You can work whenever you want to. For people who are self motivated, it is a great job for them. If you need someone to give you a specific job to do, then you might not do as well as you might hope. Another benefit and drawback is that you only get paid when you settle on a house. If you have three settlements in a month you might have made a lot of money, but if you don't have any next month, then you do not get paid at all that month. Your commission is also based on the sale price of the home. You might get the same amount of money selling one half million dollar home as you do selling 5 one hundred thousand dollar homes, even though you did five times the work. So the benefit is that there is no maximum amount you can make but the drawback is that there is no minimum either.
What is the typical day like?
I get to the office by 9am. I check my e-mail and return phone calls that I need to. If I have a client under contract, I make sure everything is going as planned and do any paperwork that needs to be done. Then I start calling and e-mailing people who are potential clients to follow up with them and see where they are at with buying a home. Then I make calls and emails to people that I don't know. They are usually leads that come from the company or the listing agent that I work with. I find out if they are looking for a home, and if so, what they are looking for and if they are pre-approved for a mortgage. If I still have time left, I will go out and knock on doors to introduce myself, or let people know that we are having an open house in their neighborhood, or go to for sale by owners and see how they are doing. If I am meeting with clients or another agent, that always comes first and I plan everything out around that.
What are the best and worst things?
I love showing homes. I am very interested in design and construction. I also enjoy negotiating a deal with another agent to get the home for my clients that they want at the right price. My least favorite part is when something falls through or doesn't go as expected. You are dealing with real people and real emotions. I do this everyday. But for my clients, this is a big step. It is most likely the largest purchase they will ever make. It gets frustrating when I have shown them 20 homes and they still do not like any of them. I have to put yourself in their shoes and realize how they are feeling, but at the same time, guide them in the right direction.
What skills do you need?
You need to have great people skills. It is all about talking to people and getting to know them so that when they decide to buy or sell a home, they will think of you and call you. Computer skills are a must as well. Everything is based on computer programs. All of the listings in York and Adams county are on an online database that we pay to have access to. Most people have their contacts and calendars on a computer program or their phone. E-mail is usually how I talk to most of my clients because it is fast and easy.
In the next few years, what changes do you see?
Technology is something we see more and more of each day. A few years ago no one expected to see their listings advertised on the internet. The internet drives so much of our business now. Online videos are starting to come into play now as well.
What is the typical career path?
With the sales experience, computer knowledge, people skills, and business sense you get by being in the business, you are pretty much qualified for any other business position out there. You acquire all the typical business skills employers generally look for. Of course if you stay in the business there is always room to grow. The longer you are a Realtor, the more people you know and come back to you or refer others to you. There is no limit to what you can do and how much money you can make.
What are the current challenges?
Right now we are facing many challenges from the media. As soon as you turn on the TV, you hear more bad news about the housing market. People are afraid to buy or sell right now. The truth is, it has never been a better time to buy a home. Interest rates are low and there are plenty of homes to choose from. As for sellers, the graphs and charts show that home values have not dropped that much here in York. In some areas they have even gone up a bit. People are use to the large value increases they have seen in past few years. It is true that we are slowing down, but our area does not reflect the numbers that the media is putting out there. That by far is the hardest challenge today.
What kind of person do the companies look for?
Becoming an agent is not like applying for a regular job. You must take the pre-licensing courses and go to Harrisburg to take a state test. Once you pass, you can get you license. Your license however, is issued to a broker, not to you. So you must go around to different companies and interview them and find out what company you want to work for. Any company would be glad to have you. Some however, will only hire full-time agents, which means you spent most of your time doing real estate, and not just doing it on the side for fun.
Do you need and trainging or schooling?
Like I said there are two classes that you need to take that are required by the state of Pa. There are 3 or so real estate schools in York that have these classes. That is all that is required. Most companies have training that you will go through that will teach you the paperwork and how to get business. Some realtors do have college degrees. Some have financing or business degrees.
what would you say to someone trying to get into real estate?
The best way would be to find out if real estate sounds like something you would enjoy doing. Once you decide, if it is something you would like to try, take the classes. They are not very expensive so if you decide not to pursue real estate, it would not be that big of a loss.
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