Is getting a Real Estate License a bad idea in our bad housing market?
I am thinking of starting the courses,but i am curious if other RE agents or brokers think if its a bad idea in our housing markets rough shape? or is it always a sellers/buyers market? thanks
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There’s no point in getting a real estate license right now in this market. Seasoned real estate agents are busy with foreclosures, have contacts with banks, and have arrangements to sell those houses. Houses priced at non-foreclosure prices are just sitting there with no buyers. I’m sure you don’t want to work for free and no results. Don’t bother!
YES. today is a great time. There is no rush. It will allow you to learn the business.
Being a RE agent isn’t just showing houses. It’s MUCH MORE.
Take the class in person. The sole purpose of the course is to help you pass the test. TAKE IT IN PERSON and not online.
It all depends on what you are trying to do. For example I myself am a real estate investor of over 10 years I have invested through 2 “Recessions” and I have made money in the good markets and bad markets.
Warren buffet says when thee market is bullish act bearish, and when the market is bearish act bullish. This same concept applies to real estate.
With the market flooded with houses and interest rates at a historic low there simply isn’t a better time to get into real estate as an investment.
I read a few other answers to your question that were posted already and I agree with both of them oddly enough.
Being a real estate agent has many facets and some facets of being an agent are not that good of an idea in today’s market. For example listing foreclosures. The market is flooded with foreclosed properties and the banks will more than likely not list them with a rookie agent. So going after listings from banks is a bad idea. If that’s all being an agent was about I would tell you to stay away, but it’s not.
With the interest rates as low as they will ever be and the market being flooded with foreclosures there is an up swell of new buyers entering the market. With rates this low one can buy a $100k house and have a $350 house payment. This means that even a couple where both make minimum wage can easily afford a house. While many markets don”t have houses this cheap the principle remains the same. This down market is turning into a perfect storm of deals.
An agent that works with first time home buyers and show them how to get into their first home is a very lucrative thing to be doing in the next year or so. As the first time home buyers and 1st home purchases heat up this will start to speed up the second home market and then you will have had enough experience to start working with those homeowners.
Now that I have given you a general idea of what to do if you decide to get you license let me give you this caveat. In the 10 years I have been a real estate investor I have seen agents come and go. I have seen agents that are wildly successful and those that are miserable failures. The difference is the work ethic. Being a real estate agent is an arduous task that involves lots of work and lots or running around. It is not for the fain of heart and it takes years of dedication to really build up to something great. I don’t want to talk you out of it I just want you to know the facts.
If you stick with it, It can be very lucrative and very rewarding. I have several agents I work with that have become very well off but like anything it has taken lots of work to make it happen.
Then when the market turns good and everyone is jumping in (Like Always Happens) you will have the foundation and experience to succeed very well while the newbies clamor.