Real estate

[Darcy]

My husband is thinking of doing a career change and getting into real estate. Right now we're just looking into if this is something he could do. Does anyone have any advice, suggestions, personal experiences, etc., that they'd be willing to share? Thanks!

[Stacy]

Do you ever want to see him in the future?? :lol:

Rick has been in real estate for almost 10 years now. When things are busy and the market is good I don't see very much of him.

You have to love people and be able to get along with all sorts of them.

Seeing as real estate, at least around here, is technically self-employment be careful to save for tax time.
Even though Rick works under the company Royal Lepage, they don't take off any taxes. We know that but still seeing a $47K tax bill is enough to make you :puke: .
He needs to really want to do it. Some clients can be such idiots to deal with and it can ruin your day. While others are so awesome you wish they would stick around.
For Rick it took a couple years to really make a name for himself and start making good money. This past year his "take home" pay was close to $140K.
People often question why commission can be so much (6% is the going rate around here) when it seems that very little work is done.
Trust me, real estate agents are worth every penny. They are the ones out marketting your home, showing you other homes and watching your back legally.
Yes I agree that some agents are worthless, Rick works with some real :crazy: , but all in all a good agent will work for his vendor and purchaser.
Rick works with both groups. Where there is conflict (his purchaser wants to buy a house he has listed) he is getting paid by the vendor so if need be he will put more effort for them.
The market is really good right now. Be prepared that can get better or it can take a dive.
I am a SAHM so we rely totally on the market staying good.
Hope that helps.