Good morning to all! I have thoroughly enjoyed this BB. I would like some advice on becoming a real estate agent. Currently, I am a HS Teacher/Coach with 15 years experience. I plan on leaving the profession to pursue RE to support my new family. I have enroleld in a local RE school and should complete licensing in late January 07'. Here are my concerns:

-Can I go PT with a Broker until I get established? I hate to give up the security my teaching job provides until I master the concept of "Work to Learn".

-What brokerages would be suitable for my situation?

Any info. or advice appreciated. Have a blessed day!

Hi there Coach....

You can find alot of answers to your questions - because they have been asked several times. But here's my 2 cents...

Yes, you can do PT. That's how I got started and now finally taking the FT route. There are alot of brokers in the DFW area that will take you in PT. When I first started, there was hardly any and I had a few of the bigger names walked me out the door and said, "It's either full-time or no-time".

With your day-time commitment, know that you are only limited with your availability and what you can do. Even if you show houses after hours and weekends, there are some stuff that needs to be done during "normal" business hours, hence if you would be able to get access to the Internet, fax machine and phone calls, that will be good.

You can also select a broker that offers a "virtual" office so that you dont need to step into the office if you dont want to. I go on maybe 3 times of the year (at most).... just to say Hi to my broker. Nothing else.

Almost everyone on this board will tell you that you will need a broker that provides training. I will add for your case, maybe one who can give you a one-to-one mentoring because of your availability to attend such training. So, most likely, these would be the discount brokerages that you will be looking into.

On top of that, one of my search criteria is that it's important for my broker to know my business goals/ plans. One who would respect the way I conduct my business. If your broker is more sales-driven than you, you might have some issues there.

All that being said, it might be better for you to work with (or team up) with another agent. Hopefully one that a little more experience than you so you could learn.... During your off hours, offer to help out with paperwork, transactions, etc so you will get to see what's going on. Some are willing to teach you, some can be very vicious so you better watch out!

I would say my "longevity" in this business was alot contributed to making sure my expenses was very low. I started my business working with friends and friends' referal. So, I didnt go mass-marketing, spent a whole bunch of $$$ that I'm not otherwise spending. A friend of mine became an agent and she decided to get her a website (a monthly commitment), she was on dial-up, then she switched to broadband, she increased her cellphone minutes anticipating alot of phone calls. After 8 mths of just money going out, she had to quit (yes, she was working PT too).... And decided that real estate was not for her. I run a cash-only business, didnt buy a laptop until I closed on my 1st transaction. That's another lesson I learnt from other agents (dont count your eggs until they hatch so we dont have $$$ until the properties are funded. Dont start "shopping" and "buying" until we have the cash in hand). But then again, I know I am very conservative about business finances. I dont spend money I dont have. It's just my personal choice, nothing more than that.

Almost everyone on this board will tell you that you will need a broker that provides training. I will add for your case, maybe one who can give you a one-to-one mentoring because of your availability to attend such training. So, most likely, these would be the discount brokerages that you will be looking into.

What do you mean by discount brokerages? Are you talking about companies that are not as big as long and foster, remax, weichert, century 21, etc.. I am new to real estate and right now training is important to me. Everyone says they will train you and do a mentorship, but they want to charge you a fee off your commission when they didn't even refer you to those clients. Anyway, I guess my question would be does it matter if you start with a well known company or a small one.

Just a quick friendly comment, not to attack you: But if I gave you a client, you are brand-shining new with a gleaming smile, what good would that do your client?

I remembered my first day....

Dont be afraid to pay for education (in referal fees, "mentoring" fee).... What I'm afraid of is not having the opportunity to do that.....

If you give me a client I will be more than happy. But what I'm saying is you did not give me a client but I still have to pay you. My concern is paying for something that is not of good quality and not of any use to me. Also can you clear up for me discount brokerage? Are you talking about companies that are not as big as long and foster, remax, weichert, century 21, etc..

Not sure if I understand your "concern" and I believe we are discussing about 2 very different issues. One is to procure a client. Second is to know what to do after you do have a client to work with.

Do a search on Google for Discount Brokerage... most of time it means doing less than the typical 6% commission. But that doesnt mean that I cant/ wont charge a seller 6% in a transaction though. Some brokerage firms charge a transaction fee, a nominal desk fee and newer breed agents seem to be happy under those guidelines. I know I am.