Career in Real Estate

Bad timing for this line of work. There are a lot of licensing requirements that are costly. There isn't much money to be made as a Realtor any more and trying to do it part time probably won't work, IMO.

Realtors need to be licensed. I would call around to realtors in your area to see how much it costs and where you can study.

But think about this. Realtors work long hours. You may have some showings during the day but a lot are going to be after 5 PM after other people get off of work. You will work a lot of weekends doing open houses and showings. Now with the internet prospects can go online and take a virtual tour of the house but are still going to want to see it.

You can make a lot of money in real estate but I would ask a few people currently working in real estate what their typical day is like. How many hours do they work, what time do they get home at night, how many weekends. This way you will know if this will fit your lifestyle.

I am not trying to discourage but to look at the whole picture.

Good luck whatever you decide to do.

Well, I have several friends in real estate and they are close to losing their businesses or their own homes since they are having trouble making end meet. It is not a good time for them. Houses are selling for sometimes less than half of what they were selling for a year ago. There are people losing job after job and homes are being repossessed by the banks because no one is able to afford them right now.

Right now, in my town, there are over 300 homes for sale for less than $100K and a lot of those, maybe half, are less than $50K. These are 3 bedroom, 2 bath, homes. Some are brick with 2 car garages. They are not selling, not even the really run down ones that need lots of TLC that are for under $20K. There are some for over that of course but they have been on the market for months if not years.

I would think real estate is not the field to go into now.

I will start with the question do you have $5,000 laying around doing nothing? If you so you can possibly be a realtor. You have schooling, exam fees, licensing fees, monthly MLS dues, office fees, advertising fees, wear and tear on your car, auto insurance increases, open houses to attend, floor duty at the real estate office, showing homes and writing contracts (some which fall through for any number or reasons) and yard maintenance for listings.

Yes it all sounds glamorous until you actually get into the field. The most successful people are the ones that have a second income like hubby to help foot the bill. It will also take you about 5 years before you are known locally and have a data base of former clients to pull from. Doing this part time is not going to work as you are not in the loop to keep current. State real estate contracts change and what was five pages may now be a 30 page contract with new disclosure property rules. Also it is not a kid friendly business as you have to meet people when they have the time to do so not when you want to do it. So basically it is a 24/7 - 365 day gig.

It may be possible to get the license and to work in property management or in apartment leasing. But that again is usually a 9-5 job. Think something other than real estate so that you don't spend money you don't have. When you do sell a home it is reimbursement for all the expenses you have incurred. Also when you sell a home you do not get the complete commission it is splt between you and the broker and depending on if it is a national chain so you end up with less than you thought. You must keep your monies separate from the family because you have to account for all of your expenses and income for income tax as you are a private contractor and nothing is taken out of your commission check.

If there is an opening in the office for receiptionist try there to see if this is really what you think you want to do.

The profession is economy driven and when the markets are down as now the demand for agents is low and when it goes up so will the demand like a rollercoaster.

The other S.

PS Former Realtor

There are licensing requirements and it costs money to take the course, take the test, then maintain your license. Most people who are realtors have been doing it for many years and most part timers have gotten other jobs. My SIL was in a similar position to you and I thought it was a bad idea. She has not sold anything in 2 years and has put out thousands of dollars. Why not look for a job managing rental properties?

The only realtors I know who make any money work LOTS of hours.

It's not the most mommy-friendly gig in the world - at least that's my impression (though it is often "sold" that way).

I am in real estate and have been for 13 years. I also have a successful home based health and fitness business. I'd be happy to answer specific questions based on what exactly you'd like to do. For instance, do you want to go into property management, sales, office support, ect. Please feel free to reach out to me. You can email me ____@____.com and we can set up a time to chat if you'd like. You can also google me L. Plata or L. Laddish Plata if you want to see if I'm legit first. :-)

I just read some of the other responses and I'd like to add that I am a mother of a 5 year old and and 8 year old so just b/c others can or cannot do something is nothing to base your life choices. Just my 2 cents. :-) Good luck no matter what you decide, b/c only YOU can decide what's best for you and your life.

In most states you need certification. There are courses, call your local real estate organization and find out about it. It's kind of a tough time to be in real estate, although it appears to be tough in all kinds of markets. Since you have a marketing degree perhaps you can find something in that area -part time.Good luck!