Starting Real Estate

Sales Lesson: Strange as it seems, but a lot of my customers don’t want choices. They come to me because I’m an expert and it’s my job to help them find what suits their needs. Complicating their lives with a million options when I know the ones best for them, would be wasting their time. A lot of people appreciate a fast, easy, and simple solution.

As far as real estate appraisals go, business varies throughout the year. At a nearby appraisal place, things have been extremely slow. Since most appraisers work straight from commission, unless someone is comfortable with having such income fluctuations and can afford to go a few weeks without a decent paycheck, a person should really think twice before hoping into this part of the business. Especially if you consider the ridiculous amount of time it takes to rise in rank as far as your license is concerned. If it’s one’s dream to do this, or it’s a side job that’s one thing, but to depend on it–unless one reaches the level where he or she can evaluate commercial properties–means a really difficult financial situation.

A similar question occurs with what type of place to work for a real estate salespereson. Is it better to be an agent at a place that sells many medium to lower priced properties, versus an office dealing with the big guys? At the “smaller” place you get less commission but more deals and more steady income, at the big place, if you do get a deal, it’s enough for half a year to a few years. The catch is that deals take forever at the “high roller” place, and the whole time you work there, unless you can afford it, you’re getting in debt to them (they’ll pay a salary, later deducted from your sales). A good friend of mine works for such a place, with a strong conviction that he’s almost there, but the catch there is, a good year might mean three sales, which really isn’t that different from a bad year, with no sales, which does happen. It’s really a tough question, because obviously, there’s potential to get far more at the high roller place, but at the same time, it can be crushing seeing month after month go by being almost there, a hair away from it, but nothing closed. An agent should have iron nerves and reserves to play this game.

Have your own real estate slowdown and or your choice of who to sell with? Have an opinion? Post a comment or email me.