>my mom hasn't worked for 15 years; was just a stay-at-home mom
>decides to go for real estate license
>licensed in June
>7 months, she is in contract with 5 houses
>hardest part (accumulating clients) over, everything will just be easier now
>these 5 houses alone will make her 100k before taxes
Surely real estate can't be this easy, right?
Does /biz/ have a real estate sticky I can read about?
Its not that easy.
With the crash a lot of agents went to other fields. Who stayed were the wage slaves and the successful. Her 100k in comision will be less than 60k after everything is said and done. By the time you figure it all out, she is making probably around 20-25 dollars an hour.
If she slips up, no profit this year... like literaly, she worked 300+ days for nothing. If she flies, she could make millions. Its all a gamble.
Funny story. I met an agent about 6 months ago to look at a building (decided the entire idea wasnt worth my time) He showed up in a late 80s mustang, was wearing a Marshalls shirt and tie, and smelled of onions and garlic. I made an offer well below their asking price and he came back hammering on me for 300 dollars a month. His take on that would have been 4-7 dollars a month commision.
That tells you everything right there. Mustang boy was willing to converse back and forth for weeks over 4 dollars a month long term.
Real Estate is the realm of the eagles and the rabbit. You are either predator (making 50K per month) or you are the rabbit who is thrilled with their 2k a week salary until the day it disappears and they are left to eat grass until they are eaten
That's the thing. She really doesn't have a lot of friends, although she's certainly good at talking to people.
I calculated for commission already. With commission she will be making that much, but it is before taxes.
>She probably built connections with soccer moms and other wealthy folks that she met through her kids and all that
Yes, but not all of her contracts are from friends and friends of friends. At least half are completely random people.
>you are either a predator
We're talking about a woman in her 50s who has been out of the labor force for 15 years making a very decent amount of money in her first year. I really don't think she is a predator, hence the thread
There's a few of them in any random selection of people. I swear like 1 in 5 people I meet are RE agents, they're fucking everywhere. Can't wait till they all get replaced by software, worthless bunch of high school dropouts.
This, worthless job, totally not needed. Way too much take for filling out some paperwork and driving to a few houses. Truly parasites. If that retarded bitch Barbara on shark tank can do it well that should tell you all you need to know
the contacts run out quick. you only have so many buddies and they only need so many houses. if you want to keep up that volume you need an almost exponentially expanding Rolodex.
client accumulation isn't over. it's never over.
one solution is to join a large brokerage. volume stays up but it kills your income. or you can stay solo and live in that boom-or-bust space. seems like your dad works so it's no big deal i guess.