Hello!

I'm not sure whether to get into RE. Here's my situation:
I'll be moving within the next month or so "back home" (NOT with parents). I won't have a job to go home to unless one of the ones I've already applied to work out. My husband wants to teach at the college level, but has had no luck with a FT job yet (will just be graduating). We're pretty sure he's going to be able to adjunct, though, so we'll have some income (hopefully!!).

We do have savings that we could live off of if necessary, although it was not meant to be used for day-to-day living expenses. I will also plan on looking for a very part-time job.

I am really thinking of taking the classes/test and getting into RE, however there is a good chance that we could be moving AGAIN in the next year or two after we move back home if he finds a FT tenure-track teaching job. I know this brings a new set of challenges, as I'd basically have to "start all over" if we keep moving around.

So,

1) how stupid would it be for me to take the test and try to break into the business?
2) Would 2k-3k be about the right amount I'd need for start-up (not including taking the classes...)?
3)Would I have to take all 4 classes again to get licensed again if we change states, or do some carry over?
4) I see that there are MLS board fees....I'm not sure how this works. Is this a yearly thing? Does it transfer over state to state?

PLease know that I'm well aware that I won't make much at all in the first year, especially in this market and that I'll have a lot of start up costs and a lot of hard work, and that there's a good chance that I'll just have to do it all over again within the next couple of years. I guess I feel like I really want to see if this is a good career for me. We'll have REALLY cheap rent when we move, no kids etc., so it seems like a good time to test the waters before "life gets too serious," even though I know others in my family will argue it the other way around and say it is the WORST time in my life to start!

I'll also be on my "home turf," so starting out would be a bit easier since I know the area at least and have family/friends there for my SOI. At least I'd get some experience and if I DO like it, I'll be able to use that experience elsewhere.

I just don't know how crazy I am to do this knowing that whatever business I build up I'm probably going ot have to leave behind. Not for certain, but the changes are very good. I feel like we'll probably move around a lot in the near future until my husband finds a permanent position in a location that we like and that by the time we do that, we'll have kids etc. and I may never get the opportunity to try this out if I don't go for it now. My life has been on hold for the past 3 years while he's been in school, so I want to "get on with it", even though I know that I do not have an ideal situation by any means. It would not be for the money, of course, this first year--just to see if it would be a good fit for me. Although I'm hoping to be able to bring in SOMETHING!

Any feedback would be helpful! Thanks!

Cassie

Sound like you thought his through quite a bit. It also sounds like you plan to be a stay at home Mom, which is also commendable. My question to you is when you have children do you plan to stay home the first few years or until they are in their early teens? If you plan to stay home when you have children you might not have to much time for anything else. Being a Mom is an important full time job in it's self. There is a show I listen to from time to time called Doctor Laura. On that show Doctor Laura gives a lot of excellent advice dealing with being a mother,father, children, relationships and other related issues. I do not always agree 100% with things she says, but she does tend to make a lot of sense. You should google it and listen via Internet to her program.www.drlaura.com. Getting back on topic. If you want to try real estate before or sometime after you have already started your family. Maybe you could move into it slowly by applying to be an office assistant.That way you can see how the workings of an office and Brokerage work. That way once you are settled with your husband job and your family you will have much more experience and at Real Estate. I know many other members will chime in, but these are just some of my thought about your concerns. Take care and good luck.

My first 9 months in real estate were in one town. I learned alot and sold a ton of homes, but the average sales price was so low that I moved to go to a better market. Moving is not a problem - you will just have to work a little harder to learn you new market. Sure, some of the work you put in the first place you live will seem to be in vain, since you might have to orphan listings or buyers, but it will be valuable learning nonetheless.

It is a great time to jump in and be a real estate agent! The media makes it sound like no homes are selling and that everything is down, down, down.

My biggest advice to new agents: you are not only a real estate agent, but you are a small business person. Find a company that will help you really grow your business and flourish as an agent. There is a give and take relationship with the broker you select.

Lowest fees generally means lowest support, lowest leads you are given, etc.

Call up a couple other top agents in your area and meet them for coffee. Ask them how they got into the business, what company they choose and why, etc.

You will do great!! I hope this helps.

Yes it is a good time - depending on your expectations. You will have to work hard, spend a lot of money to get started, and possibly wait 4 - 6 months or more for your first paycheck - and that may be the only paycheck you have for another couple of months.

It's always a good time to TRY anything - as long as your eyes are wide open and not blinded by rose colored glasses or starry expectations.

Thanks for the info and support, everyone. It makes me feel better that no one is saying that I'm crazy for thinking of doing this. The more I read online, the worse some articles and current agents seem to be making things out to be. I haven't looked around extensively on this site yet, but so far most of what I've looked at seems positive. I know there are good things and bad things to any job, but what I've been reading seems to be geared to make people like me run far far away from this career, which made me even more leery about possibly getting into this and then having to maybe move.

Thanks again!
Cassie

Biggest things out of the starting box:
1. Identifying how you are going to generate your leads/business.

2. Making sure you have enough cash reserves held back - that you can survive until #1 gets ramped up and is performing.


If you got both of those covered - then you should be in good shape (assuming you are motivated, will work hard, etc).

I'm in my first year and I figure my costs to be about $2500. Our MLS fees are due quarterly, $90 every 3 months, plus my office fees are $55 a month (includes my website and voicemail). There is also the Greater Northwest Indiana Association of Realtors dues which are about $1500 a year. Plus there's postage, gas, printer ink, paper, thank-you cards, and etc. I wanted to get into real-estate 15 years ago, I took the course, passed, but didn't get my license. So I took the course again last summer and started in January. I sooo wish I would've started it 15 years ago. One of my biggest mistakes in life. If you have the ability to go without money, and this is really what you want to do, do it! It will be tough when you have children, especially little ones, but it will be much easier than a 9-5 job. I have children, not little ones 11 and 18, but at least it's flexible. What you have to realize is that you have to constantly look for clients. I have only 1 listing and 2 buyers now. If you have family/friends who want to buy or sell, don't count on them. I have a cousin who is selling his house and he promised to let the neighbor's daughter list his house as I wasn't in RE then, but he still hasn't listed it but won't list with me because he promised the neighbor's daughter. I'm thinking i'm family! Oh sorry don't mean to rant, but just wanted to let you know that these things happen. Just remember you number one goal is generating leads as said in previous posts. Good Luck!

Cassie

I just finished typing a very long and complete answer and then hit the wrong key and watched it all vanish. So a very brief outline.

1. forget your license for now. Become what real estate investors call a "wholesaler", it is a skill usable anywhere.
2. go to www.regoddess.com and listen to the public service program from the university by Vena Jones-cox and include the archives.
3. go to www.creonline.com and read the archives and follow the postings.
4. when you and hubby finally settle down, then get your license.

Cassie, sorry, my original answer was totally complete, but it took 40 minutes and a lot of thought to type it and I gave up.