The real estate business is overflowing with agents and as in most businesses only about 20% of those in the profession are making a living with it. The 20% are split into top producers, median income producers and barely scraping by producers.
That is the reality, the dream is that you will make millions and do it in a few hours a week showing some property and picking up a commission check for your efforts. Maybe you haven't been upclose and personal with a real estate professional because to the outside world that is all they have seen.
The reality is that you spend twice as much money the first year than you make on Realtor fees, MLS membership, key fees, licensing courses, advertising, postage, personal website, hosting for the website, adding the MLS feed to your website, (no one will visit it without that)car expenses, gas( more expensive every day)and office fees, so plan for your first year to be a debit. Unless you have start up money. About $5,000 All of the money going out is enough but what about hours spent? The average is about 60 hrs a week and yes that is weekends. There is no such thing as a 9 to 5 for a new realtor, even the ole’ pros have to work some weekends, a new raltor works most weekends.
The second year is a little better, if you survive the first year in real estate you will still have ongoing expenses like the first year but you probably have a few sales in by then and at least you are not borrowing against your credit card and might even make a lttle money. The hours you put in are not any less and if you are at all successful you are probabably working more.
Now that I have the negative out of the way I'll focus on some of the positives. As a self employed individual you can easily work from home as long as you have a computer and a cell phone you can work from anywhere. There is a lady in my office that often works from a motor home. If you like the idea of being free from time clocks and can motivate yourself to work without supervision, and have some start up money real estate might just be the ticket to your success! I found a way to make it work very nicely for me.
Sally Morris is Realtor and a multimillion dollar seller in South Carolina, a wife, mother, and grandmother. Sally is also an artist, & photographer. She designed her own website which you can view at http://www.realestategreenwoodsc.com