Your Questions About The Real Biz

Jere answers:

If you could get a loan with no down payment (almost impossible), then around $1200. That does not include taxes, insurance, maintenance, utilities, etc.
If you have a down payment, you just need a mortgage calculator to find out what your payments will be:
http://www.hawaiihome.biz.z57preview.com/mortgage_center.shtml

Jere answers:

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Jere answers:

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Jere answers:

Nobody can guarantee income. Before you do anything, check them out at bbb.org/ and/or ripoffreport.com/

Jere answers:

If you are considering residential sales, I would strongly suggest that you partner with someone that has been in the business for awhile… You could be their Buyer’s Agent and run buyers.

Why I suggest this is because it is difficult to start right into the business (at least in my market) and hit the ground running. You probably won’t have a list of prospects or clients of your own, so you can work with another agent and split the commission. There is no better teacher than doing it and learning on the job.

But, I’m getting ahead of myself… First, you must take whatever courses are mandatory in order for you to sit for your real estate licensing exam (assuming that you wish to pursue real estate sales). Before you can sit for your exam, you have to interview potential Brokers… Yes, you interview Them! Figure out which one suits you best… Offering the best training, or freebies, etc. As possible.

While you interview Brokers… Talk to the person you meet with about Teaming up with someone and if they have anyone in the office looking for a Buyer’s Agent. Again, I cannot suggest this strongly enough! You have nothing but to benefit from this and you can structure your Team/Partnership anyway that works. Your Team Leader, knowing that you are new into the biz will act as your mentor… Sharing bits & pieces from their own years of experience and really save you some of the struggles from the ‘trial & error’ method that most of us start out with.

Once you’ve entered into the biz, attend as many meetings as possible, tour homes, go to open houses, and try to interact with the public as much as possible. Oh, and don’t forget to tell everyone that you know that you are “now in the real estate business” and to ask your closest contacts (friends & family) for real estate referrals.

When I was in class, there was some statistic mentioned by one of my teachers of like 60% of new agents failing in the business (perhaps it is more these days). There was never really any mention on why newbies fail. Prospecting. Prospecting and obtaining actual clients is probably the most difficult asset an Agent can obtain just starting out. Also, there are fees, dues, and other incidentals that absorb money along the way… Afterall, you are now your own boss! So, it helps to sustain your new career ramp up by having a bit of savings to draw on for awhile.

Again, just starting into the biz, it is the most beneficial to “run buyers” for someone than to be a ‘one stop shop’… At least in the beginning! Being someone’s Buyer’s Agent will give you their client base to work with (right away). You won’t have advertising expenses, as they will be taking the listings (not you). And, you can sit their Open Houses to prospect for new buyers!

Well, I hope this wasn’t too long winded… Good luck in your future career!!

Cheers.