Doesn't it make you sick seeing all the money Realtors make when they sell homes? That is what I thought too, until I decided to try my hand at becoming a Realtor.
The first step to becoming a realtor is spending a few thousand dollars purchasing the courses. In most places, the initial courses will only get you registered as a residential Realtor, and you have to buy more courses in order to get into commercial or agricultural real estate. The courses are about the size of a university text book and require a great deal of studying to pass. In the region I took my exam, the passing grade was 70 percent.
Kalani Crib
After you pass your initial real estate exams, you need to pay several thousand more dollars in order to become licensed and join the appropriate associations. I found that every time I thought I had paid all my fees, another unexpected one came up. The thing about these fees is that you have to pay them every year in order to stay licensed. This is fine if you are making a pile of money, but hurts if is a slow time in the real estate market.
I had the misfortune of beginning my real estate career in the spring of 2008. The previous year had boasted record sales in the area, so I was expecting a profitable beginning. I could not have been more wrong. I had a few sales in the beginning (this is rare - it usually takes about 6 months to get established), but then the worldwide recession hit. Myself, along with all the other Realtors in town had about 8 months with next to no sales. That was fine for the ones who had been in the industry for years and had a nest egg set aside; but it was enough to break my real estate career. I had a family to feed, and needed an income.
The end result is that I have a new found respect for Realtors. I no longer complain about their high commissions, and in my opinion, neither should you.
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