Re: Looking to get involved in Real Estate
posted at 5/24/2010 11:34 AM EDT
In Response to Re: Looking to get involved in Real Estate
That is one way of looking at things and a simplistic one at that, though no offense meant. Not one thing I said is not true and it was only the tip of the iceberg.
Unlike the brokers I started out working under, who said anything to get as many dues paying people to join the office, I believe that I should tell the truth to anyone thinking of embarking on a residential real estate job. This industry is too dominated by “feelings” and “overly emotional” people and not by enough people who are provided with much if any guidance, esp. when they first start out. It is better to let them know what truly goes on so that they can take make an intelligent decision to come here and put in the necessary time, effort and their own money into making it possibly work for them. Many should not consider residential real estate, but commercial real estate instead.
You and I know that this industry has many people who came into it with their only qualification being that they “like houses”and are a not businesspeople – which is what this job is, since all agents are independent contractors running their own business. Yet, there is maybe 1 in 50,000 agents who actually ran their own business in the past, so they quickly go out of business in our business.
It is a job - often a part time job for many agents - as everyone in the industry knows. I point out the good and the bad, the upside and the downside and try to remove any of the starry eyed, quick-buck people who often populate real estate offices. I believe that it is better to tell the truth, warts and all (and every industry has both). However, this industry does it’s very best to hide them, probably so they can get as many dues paying people to feed the lobbying machine. If agents were salaried employees with commission, rather than the burden being on them by relying solely on straight commission, many of the public perception issues we have would go away. Such as the surveys which always rank us as low or lower than used car salesmen.
I’m not a Socialist and I don’t know about you, but I think it is criminal that around 3% of agents nationally make $100K+ (not counting expenses, taxes, paying for their own health insurance, 401K and retirement) and the other 97% gross under $30K - $40K, so after expenses and the hours worked, they would have been better off working at Wal-Mart. We are talking about real human beings and them having to cope with the cost of living and feeding their families.
Divide the number of agents into the number of homes sold in any neighborhood, town, city or State, and then come up with a good reason why we have so many agents? To whose benefit is that for?