- matthewhorneParticipant@matthewhorneJoin Date: 2012Post Count: 37
Hi everyone, I have a very big decision to make and I would really appreciate any input that you may have.
I am nearly 24 with a girlfriend and 2 year old daughter. We currently live off a lower, single income with some government benefits also and I have aspirations of property investing and working really hard to create a successful portfolio.
I recently have read the book Rich Dad Poor Dad by Robert Kiyosaki and have taken on his advice of "while you are young, work to learn not to earn". I am thinking that I should now look at becoming a Real Estate Agent to become as knowledgeable as possible in the industry and develop some good market understanding etc. I think there would be a lot of personal benefits in the job which will greatly assist with investing.
However there are some concerns. First concern is I will be needing to work 6 days a week and I imagine 12 hour days, therefore not spending enough time with my young family (this is the greatest concern). My second concern is that the probationary period is slightly less pay than what I am on now and will carry with it some extra expenses, putting us in a bad financial position short-term (especially if it doesn't work out at all). The prospective employers are pretty much offering a HUGE income after this period if I am suited to the role.
My main question is, is anyone on the forum a real estate agent and can offer any input to the above points? Also any other input from opinionated "forum-ites" would be greatly appreciated as this is a decision I need to make in the next couple of months.
Matt.Jamie MooreParticipant@jamie-mJoin Date: 2010Post Count: 5,069
It's a hard industry to crack.
The good ones do well – and there's a whole lot of others that struggle.
Personally, I wouldn't become a real estate agent so I can get a better understanding of property markets.
That's something that can be achieved irrespective of what your day job is.
If you know you'll be good at sales and are willing to back yourself – give it a go.
JamieinsanoParticipant@insanoJoin Date: 2009Post Count: 34
Just noticed possumpal thread: Mid-life crisis
I've had the passing thought of giving the real estate agent gig a go in the past but it's not for my, I'm defiantly not a sales men. From what I've seen and heard from friends that have tried their hand at the game it can be quite difficult. During the boom pre GFC anyone could sell a house, just list it and bam sold, but post GFC only the good agent who knew the game and cycles stuck around.
Personally I'd not become a real estate agent either.
Like so many of the books say, find your passion and follow it. Easier said then done though…JpcashflowParticipant@jpcashflowJoin Date: 2007Post Count: 575
i used to work for hocking Stuart for three years, I was ranked top 50 agent out of 600 and I was ranked top four in the werriber area.
Very hard work and yes long hours, bit of you want to succeed in anything in life hard work will always be needed.
Even in good times real estate was a hard game, sure it was easy to sell a home but very competitive to list a home
If you like please feel free to email mejmsrachelParticipant@jmsrachelJoin Date: 2012Post Count: 711
I think if you have the gift of the gab, and good people skills you should do well. Sales is hard though and people will be difficult.phill666Member@phill666Join Date: 2012Post Count: 10
you dont to be a real estate agent to learn the game bro.. if i was you id study at home the real estate market.. if you become an agent youll have a very low base wage and work on commision which may take months before you make a sale depending on where you live. given your situation with a young family i doubt you could afford to be on a base wage for a few months before making a sale at which youd only get a % of as the principal at the agency you work for also gets a cut of your sale also.Scott No MatesParticipant@scott-no-matesJoin Date: 2005Post Count: 3,856
Agents (certificate holders not licenced) work under an award ie there is a base wage that you must get even if you are scratching your ring. Oh easy, you say…..No. they work on a debits and credits system, that is even though you get your base wage, this is run as a debit ie they pay you but you owe them that amount before earning any commission. When you sell you get possibly 40% of the total commission (not the advertising or other costs), this is then credited against what the agency has paid you already. Any extra you get.
A licensed agent can work for commission only, the risk is you go hungry for months.
Not an easy field to break into as you need to build up a reputation, trust etc – this takes time.JpcashflowParticipant@jpcashflowJoin Date: 2007Post Count: 575
I reckon the best way to learn is to do some part time leg work with an agent on a saturday. Before I did real estate i spent 4 saturdays going to opens with an agent (not selling ).
Matthew are you also talkin about Brian Mark real estate or a GENMEN agent?DerekMember@derekJoin Date: 2004Post Count: 3,544
Real Estate Industry is not the best industry to be in if your ultimate aim is to be a property investor.
Remember reading about 10 yrs ago a quote from the REIV President (?) of the time claiming only 1 in 5 REA is also a property investor.
Slow down and work out what you really want to do – with your property investing.
I have done the REA Sales Reps course in WA and didn't learn a thing about property investing. Learn more mixing with like minded individuals, reading, reading, reading and generally just immersing myself in property stuff.
Now involved in a niche real estate/property development company.