Need a job, and I'm thinking about talking to Coldwell Banker. I don't have the financial reserves right now, but I figure I'll have some money together by the time I pass the real estate exam. Should I even be looking into the position right now, given I have no money?

*Recent college graduate, currently living at home. Not paying for housing or food.

Talk to them to see how much money they recommend you to have on hand before you even start anything. Also ask them what the true cost to start up is in your area. Then if you still want to be an agent go take your classes and take the test. If that works out go visit more companies then just CB.

My wife just started here in Colorado and after she passed the test the costs to just get her license, become a Realtor and get started with the MLS were about $2000. Then she pays $300 a month to work at the same company as me.

I agree with ColoBroker on this. The sooner you figure out how much it is going to cost you the sooner you can set a timeframe based on your income.

That being said however I think it is only fair to point out that Real Estate is NOT a job. Far from it!! It is more like a capital venture with an extremely high risk factor and no security. You will have to pay everything upfront (ads, business cards, license, fees, promotional material, and time) with no guarantee or prospect for any kind of return.

The stats are probably different in your area, but where I practice almost 80% of realtors who start in the business are out of the business in 2 years or less broke!

I do not mean to scare you and, in fact if, you ask any well-established realtor on this forum they will probably tell you this is one of the greatest careers out there however it is definitely not a job and you must truly understand that before you decide to get into it....otherwise you could lose a lot more than $2,000.

If you are looking for a job there are plenty out there that will get you a lot more money than this will... but, if you are looking for a career, then this is truly one of the best.

You could also consider working a part time job to keep you on your feet while you're starting in the real estate business. Some brokerages used to really frown on this but with times being so tough they are being more understanding. Having something see you through your start in real estate can help take off some of the pressure.

Everything being said here is true. This is a long-term career, not a short term job. That being the case, you should explore all of your options. There's nothing wrong with having a big brokerage house behind you with the name and all that it carries but ask yourself if you want to have a more private office where you can be more personal with your clients. It will be harder but might be more rewarding.

I'm sure all Coldwell Bankers will be a little different. I work for CB. Your going to have to talk to the broker of that particular office.

Talk with more that just one broker when making your decision to sign with a company. There are many factors that can make or break you when getting into the industry; you need to make sure the company you sign with is going to be there to teach you the business, not just throw you to the wolves.

All the previous posts are correct; there is a cost of doing business fee to get up and running. I suggest you either have a VERY flexible PT job or at least six months reserves on hand before you jump. Good luck in what you decide.