How hard is it to become a real estate agent?
I mean, do you need a degree, or any business education? How long does it take?
I mean, do you need a degree, or any business education? How long does it take?
Apr 4th, 2010 3:41 pm
Apr 4th, 2010 3:44 pm
Can you please give us a rundown of some of the stupidest / funniest things you have seen people do in an effort to sell their home (or lack thereof)?Donnie740 wrote: ↑I'm a realtor with Re Max and would be happy to answer any of your questions related to buying/selling real estate. Note that I deal mostly with residential property, so if you've got a commercial question I may not know the immediate answer off the top of my head - - but I'll do some research into it and get you a response.
Apr 4th, 2010 3:47 pm
Apr 4th, 2010 4:33 pm
I'm currently taking the courses to become an agent, and to be realistic anyone can pass these courses if you take the time to study.
Apr 4th, 2010 5:39 pm
Then take that 225,000 figure and subtract whatever "splits" that agent has with his Broker. This can be a substantial sum of money depending on his situation. i.e. some brokers take 45% of commissions up to a certain level and its then graduated.
Apr 4th, 2010 6:35 pm
Apr 4th, 2010 8:20 pm
Apr 4th, 2010 9:40 pm
Marko your math is a little offCaptain_Ron5 wrote: ↑
This is what my business plan will be once I obtain my license later this month:
For Buyers
- 70% cash back of my commission minimum.
Example (Ontario commission structure):
$600,000 x 2.5% to buyer's agent = $12,500 x 0.70 = $8750 back to buyer. (you can use this to buy new furniture for your place, go on vacation, or increase the offer on the home you really want by $8750.)
For Sellers
- $2000 flat fee for my services, we keep the buyer's agent commission at 2.5%, this way real estate agents will not avoid brining their clients to your home.
I did the real estate course in 2 weeks, yes 2 weeks, I can't believe these people call themselves professionals.
Take home message...
- IF YOU ARE BUYING ASK FOR CASH BACK FROM YOUR AGENT, 50% MINIMUM!
- IF YOU ARE SELLING NEGOTITATE THE COMISSION!
Thanks,
Marko
Apr 4th, 2010 10:22 pm
Yea, you are right, I calculated it for $500,000 accidently.
Apr 4th, 2010 11:22 pm
Marko,Captain_Ron5 wrote: ↑
I have completed my real estate course and I am shortly writing my exam on April 15th. Why you ask? With an MHA I can expect to make around $90,000/year. Last year we built a home, between me and my dad we invested 2000 hours of physical work and made a profit of $56,800
Apr 5th, 2010 10:00 am
Thanks for replying. Very humble answer to a trick question.Donnie740 wrote: ↑Ha ha, good question. Let me give you an example of what you'd hear from me in a listing presentation.
I do my homework on the property & neighbourhood beforehand, so I've got a general range of what the market value of your home would be. After I take a walk through tour of your home, I can measure the features & characteristics against previous solds & current listings in the neighbourhood. Now I've got a pretty good idea of the market value of your home.
We'll go through the comparables together and I'll do my best to help you understand what I'm basing my evaluation on. Then I'll give you three prices:
Price #1 - if you really need the house gone ASAP
Price #2 - my estimation of the market value, and what you can reasonablly expect to get +/- a percent or two
Price #3 - if you're looking to be agressive and test the market. And you're either prepared to lower the price to something closer to market value in a couple of weeks or you're fine with staying put if/when it doesn't get any offers.
I work for you, so the final decision on price is yours and you name the price - - hopefully being mindfull of what we've just discussed.
One thing I'll never do is inflate the price to get the listing. That's a disservice to both you and me. You end up disappointed/frustrated/angry when the house doesn't get any interest because it's over priced and I have to start asking for a price reduction. I end up wasting my time and money marketing a property that I know is listed too high and has little chance at moving.
I'd consider myself a professional, but there's obviously salesmanship involved. How else other than salesmanship do you figure I'm going to be able to squeeze an extra percent or two off the price of the home you want to buy? How else other than salesmanship do you figure I'm going to convince the buyers that your property is worth more than what they're offering on it?
Apr 5th, 2010 10:42 am
I already make more than $28/hr at my current job. My point is why would I work for lets say $45/hour with an MHA, when a highschool grad can make more than that working as a realtor? Does that make any sense? This past year I've met a lawyer, and a women who has a masters of education who recently became real estate agents, both claiming they make more than they previously did.
Apr 5th, 2010 12:12 pm
Apr 5th, 2010 12:32 pm
Maybe these lawyers, teachers, engineers or whatnot didn't have what it takes to compete with the real talent in their respected fields. So they go into realestate. Isn't that how it usually goes?Captain_Ron5 wrote: ↑I already make more than $28/hr at my current job. My point is why would I work for lets say $45/hour with an MHA, when a highschool grad can make more than that working as a realtor? Does that make any sense? This past year I've met a lawyer, and a women who has a masters of education who recently became real estate agents, both claiming they make more than they previously did.
Apr 5th, 2010 12:53 pm
The way I view it is why would I take on the responsibility of running a department at a hospital 5 days a week with my Masters of Health Admin for $90,000/year when I can sell one home per month and make $120,000?
Apr 5th, 2010 12:56 pm
Apr 5th, 2010 1:08 pm
This is the biggest pile of sh1t I have ever read......stevelam wrote: ↑for what its worth:
http://www.century21.ca/paul.indrigo/Bl ... _privately
of course its written by a real estate agent so take it with a grain of salt.
Apr 5th, 2010 1:16 pm
Apr 5th, 2010 1:30 pm
Potentially more money and less responsibilities. Ok, I can understand why some people go into RE now. You seem like a fairly motivated guy. All the best to you and let us know how you're doing.Captain_Ron5 wrote: ↑The way I view it is why would I take on the responsibility of running a department at a hospital 5 days a week with my Masters of Health Admin for $90,000/year when I can sell one home per month and make $120,000?
My girlfriend is an accountant, and the amount of money some agents in Victoria make is mind boggling. One guy in particular had 20 real estate transactions last year and made over $225,000 NET!!!!
We are talking less than 2 transactions per month here!
Apr 5th, 2010 1:52 pm
"One guy" in a very hot market. You can find that "one guy" in almost any commissioned industry. There are many REA that make just enough to live on, but of course there are a few the make six figures.Captain_Ron5 wrote: ↑The way I view it is why would I take on the responsibility of running a department at a hospital 5 days a week with my Masters of Health Admin for $90,000/year when I can sell one home per month and make $120,000?
My girlfriend is an accountant, and the amount of money some agents in Victoria make is mind boggling. One guy in particular had 20 real estate transactions last year and made over $225,000 NET!!!!
We are talking less than 2 transactions per month here!