"You ought to be a realtor"

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Submitted by marion on March 12, 2008 - 12:10am

I ran into an aquaintance in Pier 1 today. This person is an ex card shop owner turned realtor (my son used to attend Yu-gi-oh tournaments in his shop). So, he chats with me a bit, and starts telling me about his new career, blah, blah, and blah. I exchange a few pleasantries as I look at Easter egg wreaths, blah, blah. Then he tells me, "You ought to be a realtor. You're pretty, you could do well". He did stress a good work ethic which was good to hear. He wanted me to attend a Tarbell luncheon, explaining that no matter what other career I had, I should consider dabbling in real estate.

He kept talking and frankly, he looked like the cat who got the cream. Of course, he could have been full of manure as well.

Now, I log into Piggington and see the "multiple offers in Temecula" thread. So, I'm wondering now, are realtors starting to make money again on the way to the bottom like they did on the way to the top?

SD Realtor, please chime in.

Submitted by SD Realtor on March 12, 2008 - 12:26am.

Marion if you are looking for a way to possibly supplement your income you may want to consider real estate as something you can do at your own pace when you have time. If you are looking at it as a full time service then I would pass on it. I work alot. Between my engineering work and real estate I put in 60 hours easy in a normal work week. When it gets busy for me in the spring and summer that number goes up.

Alot of realtors who have established relationships with lenders are doing very well. They get all the listings without having to deal with sellers. What can be better. Also as always, realtors who are doing work such as open houses, going out and meeting people, marketting themselves, (which for some reason, people on piggington frown on that) and working hard will have the best chance of getting business.

How long has your friend been in the business? Who does he work for? Has he had alot of transactions?

BTW Powayseller who used to post here all the time is now a realtor. Also she just send me an email that she and Bob Casagrande are having a seminar in Carmel Valley about buying foreclosures!

Personally, I am on my 5th year and it is not bad. Again, I wouldn't recommend it full time but that is just my choice.

SD Realtor

Submitted by marion on March 12, 2008 - 1:31am.

Hey, SD. Thanks for replying. If I consider doing this, it wouldn't be a full-time thing for me. I went to school a lot of years for the career I'm currently focused on. Although If I tried this and became a millionare, I'd switch to full-time. Haha. I don't even know if I'm interested, but I'm interested enough to look into it a bit.

This guy works at Tarbell Realtors on Hwy 79 south (Temecula). From what I gleaned from the convo, it sounds like he started around this past Dec. He talked about how well Tarbell trains their people, allows them use the office facilites for personal business tools (copies, etc). Then he talked about the benefits of having his own business and how he writes off everything, gas for his vehicle, lunches, faxes, etc. Another thing he talked about was how he just got this good deal on a SFR for himself, insider deal (whatever that means, I didn't probe). I would think he meant that realtors get notice of properties and can put in a bid before the general public if they want the property?

In any event, he urged me to go to one of Tarbell's informational meetings. I may attend.

P.S. I'm going to send this guy an e-mail and verify when he started and how many houses he has sold thus far. If he mentioned it today, I missed it. Although he did talk about a 12k commission check.

Submitted by bub on March 12, 2008 - 8:28am.

Powayseller a realtor? Wow!

A realtor? C'mon seriously?

Submitted by NotCranky on March 12, 2008 - 9:49am.

Marion,
A big part of the real estate industry is about making money off other Realtors and realtors. This is what the NAR and its affiliates are about to a large degree to. Some offices recruit for the sake of churning business from the recruits. Commission splits can be terrible for quite some time while the managing broker and sometimes a mentor make additional monies from you and your friends and family. Nothing wrong with that I guess. Not many people succeed at making a full living from real estate and I doubt "pretty" does it. People who do well are good at being unoffensive and are "other people centered" or good at faking it. These requirements caused me to realize early on that it would not be a career type thing for me but I am glad to have gotten my license 10 years ago. I think this is why bub cracks a joke about Powayseller getting into the business too.
I always sold something every year until 2004 when first I quit in disgust after selling a house in the early spring of that year and now because most my clients are sitting on the sidelines with me and I am still pretty ambivalent about selling this market. It's getting better though. I will probably go back to 2-3 or more houses or properties per year soon. Good enough for me. Sometimes I think I will make a big push say from the trough until it gets ugly again if it does. I want to buy a mixed use commercial place if a good opportunity comes up so those interests may coincide. An independent broker should have a commercially zoned address and I am about to get my broker's license.

I never have put much into the business in 10 years. My rate of participation with clients to sell is about 100% including listings because I work only with extremely grounded clients. Normally it is about 1 to 10. I think? I have learned a lot about personal investing from the experience. Coming from a work a day, blue collar existence that has been a boon. What really makes me tick is sweat equity .Of course I am not into all sweat and no equity so this market sucks. When things are good the license helps to be able to scout out my own properties and put the commission into materials. Maybe your are not thinking along these lines at all but it could be useful in the future.After gaining some experience, with a license and that commission you bring a lot to the table in potential investment partnerships.

I have never gotten any "insider deals" although I am not against figuring out how that works, legally. I do trust that I am my own best advocate in property searches and making offers, being a general contractor helps with that but the real truth is nobody is going to try as hard as I do to find a situation with the upside(s) I am looking for.

In any case it is cheap to be in the business if you don't lose your head or get pushed into a large capital outlay. I spend about 1k a year to be ready to go. I am what you would call a "dabbler".

Submitted by marion on March 12, 2008 - 8:38pm.

SD and Rustico, thanks for the information.

I have another question: What do you know about Tarbell Realtors? Does it matter what agency a realtor is affiliated with? Also, if I decide to go ahead and get a license, what is the least costly and quickest avenue to that end? I'm already educated at the Master's level, so what does earning a license consist of? A few classes?

Please advise.

Submitted by betting on fall on March 12, 2008 - 9:16pm.

My mother in law was lured into becoming a realtor about a year and a half ago. I will not comment on whether it was because she was "pretty" or not.
Point is that she sold two houses: her own investment condo and my house. Thankfully she found a broker who is willing to pay her MLS fees and other carrying costs for a while.
Point is: you need to be able to find clients. You'll pull one or two sales from family and friends. What after that? Is someone willing to cover your MLS and workers comp costs while you try to find clients?

So- either have a plan to find clients quickly, or find a VERY generous broker who is willing to be patient. Or be ready to put out some of your own cash to stay in the game.

Submitted by NotCranky on March 12, 2008 - 10:36pm.

http://www.brokerlicense.com/courses.asp

This link is to an on-line school that I am happy with for my Brokers courses. It also offers the required agent courses.I went to Anthony's to get my agent license. It is probably a good idea to take an additional test prep course before the exam. Not sure if it is needed. The material will be extremely easy. Only the Law portions provide any challenge IMO. Getting you license, including online classes state exam and first registration is going to be around 1k+or -. Live classes are more. Check with Anthony's.

Submitted by SD Realtor on March 12, 2008 - 10:54pm.

Marion I do not know anything about Tarbell. In terms of finding clients, they are out there. They do not come to you, you have to go get them. If you work hard you can. It doesn't happen fast, it doesn't happen overnight. It is not easy.

Pretty much any and every large brokerage will indeed hire pretty much anyone because every agent has a family and friends and that means a sale or two each year regardless if the agent is great or an idiot.

SD Realtor

Submitted by barnaby33 on March 12, 2008 - 10:58pm.

You know marion, if you wanted to fish for a compliment, you could just post a picture. For instance, I'd appreciate it if you'd all compliment my haircut
Josh

Submitted by GoUSC on March 12, 2008 - 11:06pm.

Tarbell closed one of their big offices up in the Murrieta/Temecula/North area. They had only been there a short while...

Submitted by shaggydoo on March 12, 2008 - 11:10pm.

I had a bout of insomina and a Sally Struthers infomercial on at 3AM almost had me sold on pursuing an exciting new career

Submitted by marion on March 14, 2008 - 10:35pm.

Josh, if you don't have anything positive to say, shut up.

Submitted by Bugs on March 14, 2008 - 10:55pm.

See, that's why I just don't have what it takes to be a successful broker - it's way too easy for me to throw down that zinger the first time someone get's uppity with me.

That's why I'm an appraiser. We're encouraged to be a little anti-social.

Submitted by marion on March 14, 2008 - 11:34pm.

Bugs, you're right, you just don't have a nice pair of legs to compensate for when you need to tell someone off.

At least you've recognized your limitations, though. It's all good.

Submitted by paramount on March 14, 2008 - 11:39pm.

Marion: Do you have a Myspace page?

Submitted by marion on March 14, 2008 - 11:49pm.

paramount, very funny. Please don't tell me you're turning into a jerk...Apparently, Piggington has those in spades.

Does your wife have one?

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