I'm changing careers....

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10-13-2004, 01:09 PM
Tonya

I'm changing careers....

Through the process of selling my old house and buying this one, I have become very interested in real estate. I've always loved people and have always been good at sales.

Well, because of the stress at work, I am off of work my entire pregnancy, and I am taking a leave of absence when the baby is born. I'll be off at least until June or July, but I can be excused for a leave up until Feb. 2006.

Anyways, my realtor is a VERY successful man. He owns several buisnesses...the guy is loaded... I called him up just to ask him how I go about getting my real estate license. I told him that I had nothing better to do and nothing to lose since I'm just sitting around pregnant. Well his response was "Through me!" He just bought a franchise of Coldwell Banker and he's going to pay for me to get my license. I explained to him that I'm not positive that I will like it and that I can't put the time into it like he does because I am a mother. He told me not to worry, that even if I want to keep my old job, I can just work part time for him.

So, he's going to pay for the school and licensing. I'm going to work for him during my leave of absence. Come Feb. 2006, if I am still loving it and making good money, I will not return to my old job.

I'm not nervous about it because it really isn't a big commitment. I am not quitting my job before knowing if this is what I want to do. This is such a great opportunity. When else will I ever have a whole year off of work to try out another career?! :D
10-13-2004, 01:14 PM
PJ's Mom

How do realtors get paid? Is it commission only?

This must be really exciting for you. Congrats! :)
10-13-2004, 01:29 PM
Tonya

Quote:

Originally posted by PJ's Mom
How do realtors get paid? Is it commission only?

This must be really exciting for you. Congrats! :)

It depends. If you work for someone else, like I'm starting off doing, you get a base salary and commission. You have to give part of your commission to the company. But once you start working on your own, you can work solely off of commission.

My realtor did a few hours of paperwork and showed my house for 3 weekends, 4 hours at a time, and he made $30,000 off of me. Then, when we bought this new house, he made money off of that purchase too.

When it was all over with, I told him "No offense, but I'm never hiring a realtor again! I'm going to learn this process and do it on my own next time!"

*edit* I think I misquoted the math. I'm so scatter brained lately. I believe he made $30,000 off of the two houses. They get 6% interest, but I think the other realtor gets 3% of that.
10-13-2004, 01:42 PM
PJ's Mom

Have you ever thought about buying houses, fixing them up and selling them? If you like that kind of thing, it might be fun. :)

I wish you much success and lots of money. :D
10-13-2004, 01:44 PM
AmberLee

Good luck in the new field.
10-13-2004, 01:48 PM
guster girl

Holy crap! What an incredible opportunity for you! That's fantastic! Keep us posted on your progress and what you learn, that's so exciting! It's awesome that you see it for what it is, and, are taking advantage of the opportunity. A lot of people would be too scared to do it, even if they didn't have a lot to lose. Congrats!
10-13-2004, 03:01 PM
Ally Cat's Mommy

What a fantastic opportunity Tonya!

I did something similar a couple of years ago. I was buying properties in new developments "off plan"and then reselling to make money, but the agent's commisions were reducing my profit. So I also went and completed all the courses atc and sat the Estate Agent's Board Exams in South Africa. I freelanced for a while, and I really enjoyed it, as I love houses and people!! It was great fun. I still have my own agency registered in South AFrica, so it's nice to know I have something to fall back on.

You are SO LUCKY to have this chance to try something new with no risk!!
10-13-2004, 03:37 PM
NoahsMommy

Sounds like a good way to figure out if you like it or not. :) Good luck with it.
10-13-2004, 04:09 PM
Tonya

Quote:

Originally posted by PJ's Mom
Have you ever thought about buying houses, fixing them up and selling them? If you like that kind of thing, it might be fun. :)

I wish you much success and lots of money. :D

Yes, I have! That is a portion of the game plan too. My husband's father is a contractor and my husband can also build about anything. They'd have no problem fixing up the houses.

I figure, I'll just deal with the license first. But eventually, I'd like to be a mortgage broker also. Handle both the loans and the home sales. And on the side, if I come across a good deal, I'll buy the house myself, have hubby do the improvements, then resale it.
10-13-2004, 10:27 PM
captain

That is GREAT news!!!!! ! You go girl!!!