There is a lot of great information in this forum and I thank everyone for their advice.

I haven't really seen any advice/input on the following and I'd like to know:

What should an aspiring realtor know before entering this market?

Why someone should start now?

Why someone shouldn't?

I am still in my late-20s, teach at the college-level and have a very flexible schedule, which from talking with current and past realtors will work great because I have a lot of free time and a steady income. I know much of my success, if not all depends on me, and I am quite excited and prepared for this new challenge. I'm just wondering if there is anything that hasn't been covered in this forum (I've digged and digged) that would serve as great advice for those starting in the next 2-3 months.

Thanks!

I made the transition from teaching to real estate. Currently, I adjunct for a couple of local schools. While I do not market to my students, this is great community exposure. What is your academic area?

Keep in touch with your sphere of influence. Do not bug them or badger them but keep in touch with them and let them know (and subtly remind if necessary...lol) that you are in real estate.

Set up a database for contacts. Have categories - general SOI, family, contractors/service providers, buyers, sellers, past buyers, past sellers...etc. Have the bones in place first.

Develop an Internet presence.

Read up on real estate photography - learn how to photograph homes for sale, learn how to fix photos that are tilted, too light, too dark,e tc. Picasa is a very user friendly free tool from Google for editing photos.

Get a digital camera with an ULTRA WIDE ANGLE LENS. It will make all the difference in the world.

FSBO -
Currently, I teach English at a community college with a strong base in our local region. I adjunct so my course load ranges from 3-4 courses a semester in addition to tutoring. My students range in age from about 16-50. I also teach senior (55+) enrichment courses. I wasn't planning on marketing to my students, but I was thinking about throwing it out there when I introduce myself to my classes on day 1 - especially with the enrichment course.

Perky REALTOR -
Thanks for the tips. Luckily, I've been working with digital photography for several years and have gotten rather good at it. When my SO was involved with real estate a few years back, he was horrible with photo editing so I edited up all of his pictures for listings. I've been reading a lot about Internet marketing lately. My current instructor has also stated that it is a must and is stronger than traditional print marketing. I'm pretty good with SEO so I was hoping that would come in hand in regards to setting up a website and perhaps a blog.

I would not work with a student until AFTER the class ended. You can see the conflict of interest that might arise. That being said, I have one active client that was a student of mine.

My advice is no... this is not a good time to enter the market. There is always a learning curve, but in a more "normal" market you will at least be able to land some clients at open houses or through traditional marketing channels. Everyone is scrambling right now. If you have other options, pursue those. (Sorry to be the downer here... but it's the honest truth).

Competition is always there no matter the market. Market get's better you will have more agents re-activating their licenses and new agents entering the market. So you will still have a tough time makign sales. The cream always rises to the top no matter the real estate cycle and that will never change.

Interesting perspectives from different parts of the country.

La Jolla Homes - I think CA has it worse than most parts of the country right now. I wouldn't enter that market either. From my research, it seems to have its own unique set of problems that are rather different from Ohio. But with that being said, I do realize that it will be difficult but not impossible. Any type of sales is and always has its own set of challenges. I have the time and I have 2 stable incomes; if I can weather this, I'm pretty sure I can weather any thing. At the least, I can use the license to sell myself a house and purchase more multi-family units at a low cost.

Super Realtor - From what I have read, and been told by brokers, lawyers, and agents in my area is that it is a good time to enter my market since many people have left. I have actually been told by all of these people that sales have increased in this area from last year, commissions are lower due to price drops, but there is less competition due to there being less agents. I was also told that this would put me in a better position when people re-enter the market and try to build up a presence.

I was also given the advice from a lawyer, who also has been in the business for 40 years, to look into lease to own contracts with sellers. He said that he made the majority of his money off these types of deals and in this market it helps troubled sellers get out from under payments and worthy customers that lack a high enough of a down payment work towards ownership. I'm a little confused as to how this is done?

Thanks everyone!

HLB

I've been a real estate investor since 1955 and a broker since 1965, and I'm telling you this is a great time to get into the market and build and learn.

My mentor started in real estate sales in 1912 (some one that knew him then told me 1909) so I like to say I have almost a 100 years of experience, and I would reject any one's advice to hold off for someone that is in your position.