Should I quit or take a break from working as a real estate agent?
Hi, I work in Michigan as a real estate agent. I've been an agent for almost two years. I recently got a part-time job and it took a long time to find. I love my new job. I do like real estate but it seems I have to put a lot of time and effort to get a little reward. Back when I didn't have a part-time job I had all the time in the world. I've sold three houses. I love the commission and it's great to finally get to closing. It's just such a long time from one pay check to another. The longest time from one sale to the next was seven months! At the time that was my only income. I guess I'm trying to say it's not paying off right now like I thought it would.
I'm young, in my early 20's and when I started real estate I really didn't know what direction my life was going in as far as what to do in a career. All I knew is I didn't want to go to college (been there, done that.) I just feel bad for both my bosses, I'm close to both of them. I feel like they've done so much for me and spent so much time training me and things. I really feel like I be letting them down. At the same time I'm not sure if this is what I want to do right now. I will continue to renew my license in case I want to try it again in a few years. I also feel like I'm young I have all the time in the world to be serious.
My question is; should I quit real estate or should I take a few years off? What would you do and why?
Thank you and sorry for the long question!
Well Mr.Real Estate guy thanks for your concern, not that I actually think you care. We can't all be perfect. So I have issues, who doesn't? There's nothing wrong with that.
- loanmasteroneLv 79 years agoFavorite Answer
Most in the real estate field finally come to the conclusion that you have, there are stints between closings and bills must still be met.
You probably would stay in real estate if you could close a property each month and know that there would be a closing the following month knowing that you would have sufficient income to pay your monthly debts.
Your safety net is a secure job where you know there is a pay check each week, every two weeks or monthly. This is difficult to resist knowing you would have the means of paying the debts each month. I can understand that. Been there done that.
The key to being successful being a real estate agent is a marketing plan. Without a marketing plan you would not place yourself in the best position of meeting people that would want to sell a property nor those that would want to purchase a property.
You might would want to stake out an area to farm, directing your advertisements to this area, getting into the neighborhood making friends with potential sellers. Making a data base of those in this area. Your title company might provide you a farm packet with the names and other data to establish your data base. Once your data base has been established, make a monthly email or mail to these potential clients. Join your local Professional groups such as your local real estate investment groups, PTA you have selected as your farm, even if you have no child in the school.
Establish a professional team of insurance agents, title reps, mortgage banker/broker, notary public and others that would be of benefit to you. Pass their cards to potential clients you meet that might need their services as well as they should pass your card to potential sellers and buyers. You might have to swap these members for lack of supporting you.
The more people you meet ans speak with the better chance of success you would have.
Consider this,then make a decision as to if you would want to remain in real estate as a career or go to work in another career field. Maintaining your real estate license in the event you decide to reenter the real estate market might make sense.
I hope this has been of some benefit to you, good luck.
- Anonymous5 years ago
Good let's examine. In case your sister was once the trustee she has the vigour to do what's high-quality for the estate. What i don't recognize is why she would purpose a contract to exist between the estate and the realtor with the aid of checklist the property after which Quitclaiming the curiosity in these listed homes to each kid. For those who knew that an inventory contract existed at the time the property used to be deeded to you I believe you might inheret that contract nevertheless that is an trouble of what variety of disclosure on that hindrance used to be made at the time of the conveyance, now not simplest to the youngsters but to the realtor. Rationale being is that if the realtor brings an offer for signature to the seller they cannot go to the estate they need to go to the property owner to get a signature and you don't have to sell. By means of quitclaiming the property there's a good threat that a dingbat realtor would declare that a sale has befell and they are owed their fee. Man what a mess. Talk to the estate legal professional that did the probate.
- real estate guyLv 79 years ago
you quit. 3 sales in 2 years just doesn't cut it. And with your comment about having all the time in the world, shows that you are not serious about this career path.
PS. I've read your other posts. This is NOT being said to sound mean, but I really think you need to see a doctor. The depression, trouble in school, the jumping between ideas, and many other factors are clear signs of depression, ADD or even bi-polar. Nothing wrong with having one or all of these, but they DO!!! effect your life.
- Anonymous9 years ago
Go inactive and keep your MCE current per your state requirements.
Read the 7 Baby Steps at http://www.daveramsey.com/new/baby-steps/
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- LandlordLv 79 years ago
3 houses is actually 2 more then the average agent sells in 2 years. Few agents earn a living.
If no one is supporting you then you should take some time to get your feet on the ground.
- Sir JamLv 79 years ago
Movie stars are in the exact same situation. Waiting months for the next paycheck - because movies take months to complete.
- MullitoverLv 49 years ago
Take a break. We all get burn out. Do you even like being a real estate agent? If not , get out.