Hi,
I am supposed to write a report for school on an interview I had with two people from a field I am interested in. I chose real estate. I have been unable to get anyone locally to answer my questions and am sick so I haven't been able to go out and ask people. The report is due tomorrow!! I have a list of 20 questions and would appreciate answers from agents, brokers, or anyone who knows about real estate. You can answer as many or as few as you would like and say as much or little as you want. Any help is GREATLY appreciated!! Thanks so much!!
Questions:
Why did you decide to pursue real estate? What attracted you to it?
2. How do you become an agent? A realtor?
3. What certification/schooling do you need to complete? How long did it take?
4. What is the hardest part about your job? Why?
5. Easiest part?
6. If you could change one thing about your job, what would it be?
7. Walk me through a typical day at your job. (i.e., what time do you start? How long does each thing take? Etc.)
8. Would you consider your job fulfilling? Why or why not?
9. What advice would you offer someone who is looking to pursue a career in real estate?
10. Would you have done something different when starting out your job?
11. How long do you plan to stay in your career?
12. Would you recommend your career to somebody else?
13. What are some of the most important things you think people in your job need to know?
14. How much of your job is desk work?
15. Does your job offer you flexibility?
16. How competitive is your career?
17. What are some things you do to ensure your success?
18. What skills or characteristics are essential for success in your career?
19. Are there any "tricks of the trade" you would be willing to share?
20. What sorts of things are employers looking for when hiring realtors or agents?
-Ashley

I pursued real estate because it is flexible and naturally I was allured by the idea of big commissions (and so far I've done well but spent more than I've earned so far).

2. How did I become an agent. I took a crash course (3 weekends) and then took the state and national exam. To become a realtor, I have to be licensed, and be able to pay to get in the organization.

3. See above. I completed the required hours in 6 days from 8:00 to 6pm each day (though the teacher let us out early many of the days...and the final exam day wasn't that long either)

4. Hardest part? going several weeks without a paycheck.

5. Easiest part? talking to people, usually. I enjoy chit chat with people as long as they're easy to talk to. standoffish people make me nervous.

6. I would make it harder to get a license. Too many idiots in the field now.

7. There is no typical day; each day is different. My day usually consists of: checking email, blogging, answering messages, checking paperwork, taking out buyers, studying the market trends, keeping up on news. shooting the breeze here too..

8. Yeah, it's fulfilling - I love what I do, even when it's nutty. It's never boring, always entertaining.

9. Advice: don't do it if you can't do it well. You need to be able to pay attention to details, be good with "thinking outside the box", have reasonable people skills (not necessarily outgoing or salesman like...but be able to talk to folks without offending them.) You should know how to spell and how to compose a simple ad. Photography skills and knowledge of basic architecture is a must, and you should be VERY up to date with computers and technology.

10. I would have had more money set aside.

11. As long as I'm physically able to do it.

12. Would I recommend it? Depends on the person. I would be honest - it's not EASY.

13. See what I mentioned in #9.

14. Not sure - I work on my laptop a lot, but I'm also in the car a lot. It depends. It's like the weather; like asking how many days a week the sun shines. Don't know till it happens.

15. Yes, its' flexible.

16. Very competitive, though my office is not as dog-eat-dog or cut-throat as other offices can be.

17. I stay on top of things, respond to customer concerns and emails, I keep a light heart and a positive attitude, and I plan for days when the commissions may not happen for a while (well I'm working on that part!)

18. It's tough to say because many people with widely different personalities can succeed well in Real Estate. You have to care about doing the job well, and you have to be diligent and faithful...sounds like a dog. LOL

19. Tricks of the trade - no one trick for any particular situation. I might mentor someone maybe, but probably not. I'm not a good teacher and I don't like to give away all my ideas.

20. Employers do not hire realtors/agents. We are independent contractors...not employees. Most brokers are content to have an agent who is licensed, with an IQ of at least 15, and breathes.

Hope this helps, Ashley. Sorry it was so late.

1. I feel that there is nothing that can replace real estate. Real wealth is owning real estate. That is why it is the biggest investment for some people and the American dream, to have your own castle and land that is yours. I just love real estate. Every property is unique, transactions can be very flexible meaning everything is negotiable, it allows me to be my own boss and my hard work actually is to build my business and I can make my own decisions and help others realize their dreams. Also, I have heard/read/seen many people whose lives are devastated because of someone who they trusted taking advantage. I like to think that every new client and deal is a new adventure, I can do what I can to bring integrity, honesty, and care to the profession without a "boss" necessarily forcing me to do things I do not agree with. I could go on, but this is the jest of it.

2. There is a difference between an agent and a Realtor®. All licensed sales agents are agents. Only agents who are members of NAR are Realtors®. Every state is different as to sales agent licensing requirements. I don't know if you have time for the report but if you are interested in this as a possible profession, I would look at your state government's website. Find which department handles real estate. Then find out the educations requirements and the exam requirements. I believe all states require a state section and a national section on the exam. Some states require you to be with a broker before you can take the test for your license, or have a broker sponsor. Not all require this.

3. In Ohio I needed 40 hours of real estate principles and practices, 40 hours of Ohio real estate law, 20 hours of appraising, and 20 hours of real estate finance. These are class room hours. This is what is required before you can take the exam for your license here in Ohio. I am taking much more than that, and I suggest if you pursue this field to do the same. What is taught in the basic classes in not enough to set you up for success.

4. I have taken my classes but not my exam so I am not licensed yet. Looking forward, from things I have read and learned, the hardest part seems that it will be dealing with people who are not honest. Not everyone is trying to take advantage, but there definitely are those people and keeping my cool and not going off on these people if I am representing someone will be the hardest. Reporting and fighting these people will be the hardest. Again, I do not have my license, but I see this as something that will keep me up at night.

5. Easiest part that I foresee is learning and monitoring the market. I love stats, I love hands on, I love comparing and figuring out similarities and differences. I am also possibly going to pursue an appraiser’s license in the future for this reason.

6. If I could change something in the real estate profession it would be stricter punishment for dishonest people. From the people at banks, mortgage brokers, appraisers, and agents/brokers, all need to respect their position and influence on people's lives. The ones who don't I wish could have a tattoo on their forehead so they can never take advantage of others in this field again.

7. Again I am not licensed so my day is different. I do begin the day checking out this wonderful forum along with others relating to real estate. I find these sources and the very helpful people who share their experiences the biggest and most helpful information I have had, including school. I have broken down my county into 46 different sections, and I am focused on learning the market, one section per week, while also keeping track of them each following week as well after I have a good understanding of the area. I am also working on my web site right now, so I throw that in there when I need a break from the forums, learning the markets. The best thing is when it is slow at my work (like right now) I can still work on my site and learn by reading forums and info online.

8. Ask me in a couple of years, but that is why I am pursuing this now, I believe it will.

9. I would suggest to read, read, read. Then read some more. You can never know EVERYTHING in real estate (which is one reason I like it). DO NOT GO IN THINKING YOU CAN TAKE SOME QUICK CLASSES AND BE ON YUR WAY TO SUCCESS. I do not believe that you can make "easy money" in this business. There is so much you need to know. From comparing classmates I had in my real estate classes, many new aspiring agents don't know enough to know that they do not know enough. While you can not know everything, you should have a business plan, budget, marketing plan, and definitely know laws and the process of a transaction. Go over it in your head and if there is any step which you do not have a clue about or what you will do, then you need more knowledge.

I use the analogy that it is your business, you ARE the business, and is the business ready to open?

10. Well, I am starting so nothing different yet!

11. I plan on being in real estate for my life. One thing about this that I have a feeling about is that it is not a job. It is more of a lifestyle. If I am out with friends eating dinner and meet someone needing help with real estate, or looking to sell/buy a home, I can not just "clock out" or "turn it off". I will engage them. So from my perspective, I will never really retire. That is also something I like about it, being able to still work in the field at an older age.

12. I would.

13. There are no short cuts. There is no "easy" scheme to get rich quick. You really NEED to know what to look for, keep up on the market in question, have a plan, always review your plan and adjust if necessary. Also, do not forget this is a people business. With different properties and improvements on them, along with money and such, DO NOT FORGET PEOPLE ARE #1!! You should always be respectful and honest. I try to live by this though so maybe just part of my point of view.

14. Again, I'm new so this may not be accurate but I am planning on probably 30% or so.

15. Yes, and no. Yes because you are your own boss. No because to be successful you have to work with around other people's schedules too.

16. This is VERY competitive. Another reason I like it, the challenge.

17. For me is planning. To plan correctly, you need to research, learn, set up as much as you can before you begin. This way you know what you are going to do and how to do it and get off to a running start.

18. People skills, attention to detail, good with numbers, and a craving to learn more that is never satisfied. Self motivation and action. I have talked about the importance of planning, but do not forget to ACT on the plan too or not even the best plan will work.

19. I am learning those now.

20. This is something that not even soon to be agents understood in my classes. You are an independent contractor, NOT an employee. So you don't work for an employer (in most cases there are exceptions) but instead you work WITH a broker. Since in most cases the agent does not receive money unless they close a transaction, which the broker makes money on too, most brokers will take anyone on. The one thing I know I would look for is self motivation and dedication.

If a new agent wanted to work with my brokerage and did not have a plan, I would tell them they have skipped some steps and need to do some more homework first, but call me when you are ready. If they call later after doing what is needed, then that shows dedication and motivation.

Good luck Ashley and hopefully this helps. I did not pursue English, so please forgive spelling and gramatical errors, if any.

By the way I just realized that this is too late for your report :-( Anyways if you are interested in this field, hopefully this may help your persuit.