HELP! need advice

Hey everyone!

My name is Rachel and i'm new to this website.

The reason why I joined up is because I am seeking advice from Realestate Agents.

I am 20 and would like to get into Realestate.

I have had a look around at some websites and some courses to get my realestate license. Since I am from QLD, I have been looking at REIQ.

I just have a few questions that I am hoping someone can answer for me.

1. What is the best way to get into realestate?
Obvisouly I need to do a course to obtain a realestate license, and I have no doubt that going through REIQ is the best way. But should I try and get a traineeship or something at a realestate and study via working, or actually just use all my time studying and attending classes. If traineeship would be the best way (because you gain experience while your studying), but I also know that trainee's don't earn much and with living out of home and just living in general, I don't think I could afford to live on, what? $250-$300 a week? especially when at my current job I am earning $700+ a week and i've been putting money away each pay for a house deposit. Although my current job is paying reasonable money for my age, I am not 100% happy and do not consider it being a career and I am far to ambitious. I am VERY interested in realestate and feel it is the career path for me.

2. If I get a job at a realestate, will the realestate pay for the course for me to get my realestate license?
The course with REIQ is quite pricey ($3300) and it would be a great help if my employer would pay.

3. If I just study and do no traineeship, once I have done the course and obtained my license, how hard is it to get a job as a real estate agent?

4. How are agents paid? Is there a base salary+commision or is it commission only?

I probebly have tons more questions but i'm blanking now lol

oh yea! one more

5. Anyone wanna give me a job jk

Anyway, if someone could help me out, I'd really appreciate it.

Hi Rachel

If it was me, I would just go into 3 or 4 RE agents in my area and try my luck. The worst that can happen is they say no and point you in the right direction.

I might be wrong but I don't think this would be the type of place that RE agents hang out.....

Cheers

Thanks

Just thought i'd try my luck

rachie87 said:

Hey everyone!

My name is Rachel and i'm new to this website.

The reason why I joined up is because I am seeking advice from Realestate Agents.

I am 20 and would like to get into Realestate.

I have had a look around at some websites and some courses to get my realestate license. Since I am from QLD, I have been looking at REIQ.

I just have a few questions that I am hoping someone can answer for me.

1. What is the best way to get into realestate?
Obvisouly I need to do a course to obtain a realestate license, and I have no doubt that going through REIQ is the best way. But should I try and get a traineeship or something at a realestate and study via working, or actually just use all my time studying and attending classes. If traineeship would be the best way (because you gain experience while your studying), but I also know that trainee's don't earn much and with living out of home and just living in general, I don't think I could afford to live on, what? $250-$300 a week? especially when at my current job I am earning $700+ a week and i've been putting money away each pay for a house deposit. Although my current job is paying reasonable money for my age, I am not 100% happy and do not consider it being a career and I am far to ambitious. I am VERY interested in realestate and feel it is the career path for me.

2. If I get a job at a realestate, will the realestate pay for the course for me to get my realestate license?
The course with REIQ is quite pricey ($3300) and it would be a great help if my employer would pay.

3. If I just study and do no traineeship, once I have done the course and obtained my license, how hard is it to get a job as a real estate agent?

4. How are agents paid? Is there a base salary+commision or is it commission only?

I probebly have tons more questions but i'm blanking now lol

oh yea! one more

5. Anyone wanna give me a job jk

Anyway, if someone could help me out, I'd really appreciate it.

Click to expand...

Hi Rachel,

With a face like your avatar (if that's your real image) you'll have no problem becoming a success. Seriously though welcome to the SS Forum. I work in the industry now & have done so for the past 11 years. Firstly apart from an interest in the R/E industry, why do you wish to become a R/E salesperson??

The licence course at $3,300 you are referring to is a full R/E Agent's licence which enables you to operate a R/E office. As you are just starting out, it would be foolish to do this as you may not like it & blow your money. Every new person is required to do the Real Estate Salesperson's course which will give you a Certificate enabling you to sell R/E. It costs around $750 + the cost of the certificate which is around $110 per year renewal.

Most R/E newbies especially at 20 do a traineeship through a real estate agency - the pay is not much at around $20-$25k per year + commissions. Other newbies go on a debit/credit basis, so once you start you HAVE TO MAKE SALES, otherwise you'll rack up too much debt VERY QUICKLY.

I started in R/E sales at 19 and a half. It was tough! R/E market was really tough! I got paid salary ($22k) + part commissions as well (around 35%) + worked nightfill as well to support myself.

Great to be ambitious; but you've got to realise the BIG PICTURE of R/E. It's easy to see the market moving fast; & agents charging $10,000 commissions & an outsider to the industry thinks; "well I only need to make 10 sales a year at that rate & I've made 100 thousand" - THIS IS TOTALLY INCORRECT & A BIG MISCONCEPTION. It's no wonder that 95% of people entering leave within 12 months.

I would only enter the R/E business as a salesperson if you have the following:

1. Significant savings in your bank account to survive for at least 6 months without making a sale.
2. A partner/husband/boyfriend, etc who works full-time & can financially support you
3. Existing network of contacts who most importantly know of you rather than you know them (THIS IS A BIGGIE!)
4. Thick-skinned

Everyone can be ambitious, but unless you have the above it will take you a long time to be successful making $75k plus a year. I've studied the most successful agents in Cairns & the top agents all had the above.

The existing network of contacts is very important as most newbies think that the agency is like a retail store; they have stock that I can sell; & once I sell it I make $10,000 commission based on a $400k sale. FALSE!

YOU have to find the properties to sell; market them for 4-8 weeks, negotiate offers, etc; then wait another 1-2 months for the property to settle afterwhich you get paid around 1/3 of the $10,000 commission x 12 months = $36,000 so you have to find multiple properties to earn multiple income.

I know the ins & outs of the business - it's my passion, so PM/email me for further info if you like.

Rach
Pretty sure real estate agents are always on the lookout.
Track down Rolf Latham on the forum
He lives around your neck of the woods and would (I figure) know heaps of agents in the area
I could get you into remax in brisbane for training - if you wanted to make the trip - I know a few of the agents up here fairly well.

Hiya Rachel.

PM'd you with a couple of things.

Another thread on the topic can be found here, too.

Cheers

James.