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Jason P.

Anyone have hands on experience on the time & effort to getting a real estate license?

Interested in time and amount of money I would have to fork out as well as level of difficulty and hoops to jump through to get one. Practically speaking, I am interested in what income can reasonable expect in my first year.
MaggieD:

NewYorkBaby, the time involved depends on the classes you take. Some real estate offices offer them free and, in my case, it took about 6 weeks to get my license. It was fun and exciting. Amount of money to get your license is minimal. No big deal. What can you reasonably expect to earn your first year depends entirely on you and how hard you are willing to work to get started. My first year I earned $65,000. I paid my broker $30,000 of that for the privilege. My income, less expenses, was prolly around $30K. The first two or three years, you will work incessantly...every weekend, evenings, whatever it takes -- if you are to succeed. After that, you'll work more on referrals, and will work a bit less. As my broker told me, I will tell you: The hardest part about this real estate business is finding bona fide buyers and sellers. If you were my family, I would tell you to put your plans off a few years. This is a tough market for even the seasoned agent. REALLY tough.

Pete:

best answer, MaggieD!

MaggieD:

Thanks, Boxermom!!!!

Jason P.:

Wow, that is a REALLY good answer. You have made my decision. Thanks!

Jack:

Here in the State of Minnesota it takes three weeks of deep-immersion classes and an extensive examination at both the national and State levels. The cost of which is about a thousand dollars plus about another $400 to $500 in various annual Realtors Association dues and miscellaneous expense.

You will also be required to commit to annual Continuing Education credits which will vary by state. Minnesota requires 15 hours per year.

Jason P.:

I appreciate you passing on your knowledge, Scott. I live in Alabama so I am not sure how it varies, but you told me more than I knew. Thanks! :)

Jack:

Then check this out ...

http://www.arec.alabama.gov/

Saif:

I invested a couple months and a couple thousand dollars just getting educated and licensed, then invested another several thousand dollars getting set up and online, branded, etc and lost money my first year. Still finishing my second year and it is not looking like I will break even this year either. Hope to hang on for a third and maybe see a profit.

Jason P.:

I admire your perseverance Steve. I hear from above comments it's a tough business. Thanks for your input. :)

Home grown:

CALL A REAL ESTATE AGENCY

Rick:

The average income for a realtor in the United States is 40 thousand a year.

Jason P.:

Thanks, Rick!

Michelle:

Well, Rick I'm a realtor and that's not always true. Averages are made for those who are looking for security and I'm here to tell you that for the majority of realtors in this country, security is only when they land a hourly / salary job. There's no security in the housing market and averages are just a false hope of what the new realtors will probably not see in 5 or more years of hard work, lots of fees and charges just to be a realtor and then end up with losses at the end of the year for all their hard work. After 2 years of hard work in the real estate business, I went to a private company and hired on as their Exec. Office Manager to the broker of the company where we never sell land but solely sub-develop properties for contractors and builders to purchase from us for cash and build sub divisions on the land. That's as close as I'll ever get to real estate sales again. It was a waste of money from my perspective because there's so many realtors and the competition is vicious and evil.

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