Would You Let Your Friend Become A Realtor

By
Real Estate Agent with Benchmark Realty 00285925

Just say no.

I've had several friends ask me lately about the process to become a realtor. I give them the information they need to get started, and then I give them the bad news.

Most people fail. I'm not sure of the failure rate now, but 13 years ago when I changed careers it was around 95% failure rate in Tennessee. I don't think it's any easier now than it was then.

I don't regret becoming a realtor,  I had been thinking about for many years, so I was prepared more than most. Even with all the research, I didn't understand how the federal reserve controls the economy (and home sales), through interest rates, and that most crashes happen right after they raise rates for several years.

I'm gearing up mentally for that to start happening again. I know rates start rising, it will eventually crash the party. It always does.

I don't even want to talk about the loan requirements that were imposed on mortgages. I tell my clients to be prepared to produce a 3rd grade report card, and have explainations on why the didn't make straight A's. Making a lot of people just give up in frustration.

I think it's harder to succeed as a new realtor now than it's ever been. What do you think.

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The Brewer team

Benchmark Realty

 

 

 

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Rainer
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Adam Hamalian
Hamalian Properties Group - Lafayette, CA
Walking with you on your journey home.

I was at a training once where the trainer asked if anyone had always dreamed of being a real estate agent. Not a single person.  When I was in Jr Hi we took a vocational test and my came back real estate agent.... who knew.  Lots of challenges beyond your control. It is not for the faint of heart.

Thanks for posting.

Adam

Dec 10, 2014 11:06 PM #1
Rainmaker
361,365
Jill Murty, Realtor - Orange County, CA
PREA Realty - Laguna Niguel, CA

I've had various people ask me about becoming a Realtor.  I never discourage anyone, but I do provide an accurate picture of what it entails.

I advise them to have a stash of about a year's worth of living expenses to live on while they're building their business.  If their spouse is earning enough to support the family during this period, it's a gift.  Don't blow it.  Keep working to build your business.

No one gives you leads.  You have to generate your own.  You'll be hosting open house a lot, so say farewell to a good chunk of your weekends.

I never intend to be a buzzkill, but it's important for people to know what they're getting into so they can determine if it's a fit.

Of all the people who have inquired, I know of only one who went for it.  He's putting the effort in and if he sticks with it, I think he'll make it.

Dec 11, 2014 12:10 AM #2
Rainmaker
361,365
Jill Murty, Realtor - Orange County, CA
PREA Realty - Laguna Niguel, CA

Adam Hamalian - That's an awesome story.  I guess there really is something to those vocational tests after all.

Dec 11, 2014 12:12 AM #3
Rainmaker
920,697
Larry Brewer - Benchmark Realty llc
Benchmark Realty LLc - Nashville, TN

Adam - I think my test said I would become an engineer. It was close, I was in information technology for over  20 years.

Jill - It's really tough on parents with children, because most of my sales start on the weekend.

Dec 11, 2014 12:55 AM #4
Rainmaker
361,365
Jill Murty, Realtor - Orange County, CA
PREA Realty - Laguna Niguel, CA

Larry Brewer - Good point!

Dec 11, 2014 02:09 AM #5
Ambassador
2,758,551
TeamCHI - Complete Home Inspections, Inc.
Complete Home Inspections, Inc. - Brentwood, TN
Home Inspectons - Nashville, TN area - 615.661.029

Good morning Larry. Starting a career in real estate is not for the faint of heart. First of all you have to be a real go getter and secondly one must have a pretty good financial cushion. I can understand the reason for the failure rate.

Dec 11, 2014 06:29 PM #6
Rainmaker
920,697
Larry Brewer - Benchmark Realty llc
Benchmark Realty LLc - Nashville, TN

Hi Michael - you have to be successful before you become a realtor to have the financial cushion to make it in real estate. It rarely happens

Dec 11, 2014 09:15 PM #7
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The Brewer Team - Benchmark Realty

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