What is the cost to become a real estate agent and ramp up time?

Status: Open
Mar 11, 2015 Views7,013 Answer a Question

I am 48 with 2 kids in college. With a sales career in insurance I am thinking about making a career change. However, with a mortgage and family I need to be aware of the cost as well as the ramp up time for the sales cycle. I was the top producer for a major insurer in the nation and personally produced over $2 million in premiums with my other agents producing $9 million.

Asked by
Consumer
Categories:
Education
About 7 years ago
As previously stated about $1000. The challenge when you start is to generate lead, you may be wise to work with an experienced broker / team that may want to share leads with you.
francois@cozy-homes.com
About 8 years ago
For taking the courses, test and fees, you are probably looking at a couple thousand dollars up front. It does sound like you are already quite successful in sales and have an established client-base, so there's a good chance your ramp-up time will be much shorter than others. Best Wishes! Andrea Usanga REALM Real Estate Professionals - Sugar Land Phone: (832) 577-4602 Email: ahinckson@yahoo.com Web: http://www.har.com/AndreaUsanga "Going the Extra Mile to Bring You Home"
About 9 years ago
Entering into real estate is different for each individual. Success depends on many factors. True, you can take your theory courses in a relatively short period of time, and you can buy your supplies on a shoestring budget. But, as far as "ramp up" time and a "sales cycle", well, there is none. It all depends upon YOU! You get out of a real estate career exactly what you put into it. A career in real estate is owning your own business. As an entrepreneur you are responsible for your health insurance and all the costs of doing business. The overhead of owning your own business can add up quickly if you are not a careful planner. You will need to create a business plan, a marketing plan for yourself and one for your listings. and you will need a technology and internet business plan, you will need an education plan. This industry is constantly changing, and investing in furthering your education and skills is critical. You must reinvest in yourself every year, and courses and books are expensive. (one of the largest portions of my operating budget is dedicated to education, so that I can keep current and so that my skills are a cut ahead of others) Create a comprehensive business plan and work the plan. Real estate is also a people business. As such, building sincere meaningful relationships with others is paramount. I suggest you find a Realtor whom you know and trust and ask them how they achieved the success they are experiencing today. You will find that it was through a lot of hard work and dedication to the people they were serving. There is no "sales cycle", you must go out and meet people every day and create the business that you want. It is not unusual to put in upwards of 60 to 100 hours in a 7 day period from time to time. At the beginning it will feel like all of the time. Your family needs to be prepared for the amount of time you will need to put into your start up into real estate. But, even with all that you will have to put into it; real estate brokerage is the most rewarding career ever! I love all the challenges it presents, and I love helping my clients achieve their dreams of home ownership or real estate investing!! I love waking up every day because I don't know what exciting thing will happen that day. And there is always something that happens, some challenge to plow through each and every day! At the end of the day, I love that I helped my clients achieve their goals.

Like I stated at the beginning, as far as "ramp up" time and a "sales cycle", there is none. You get out of a real estate career exactly what you put into it. It all depends upon YOU!
About 9 years ago
I did the fast track you can get it done within 2wks doing some class online. Classes and license fee roughly $1000 and HAR dues, Supra another $1000 or less. A good rule of thumb the industry uses as a standard measurement is to have enough money saved to cover at least 6 months of your normally monthly expenses in case you do not sell anything for a while. A lot of people have started with a lot less and been successful.
Disclaimer: Answers provided are just opinions and should not be accepted as advice.
Advertisement
Find a Local Expert Real Estate Agent in your Area
Start your real estate search the right way by finding the best agent to work with in your area.

Related Questions