Real Estate Broker

Posted: Sun, Feb 26 2012, 6:10 am Post subject: Real Estate Broker

I was wondering if this is something worthwhile to study for?

Are there any real estate brokers on this board that can tell me if they are able to make some sort of income doing this?

I am in Israel but would like to know from anyone anywhere.

Posted: Sun, Feb 26 2012, 9:54 am Post subject: re: Real Estate Broker

Posted: Sun, Feb 26 2012, 10:26 am Post subject: re: Real Estate Broker

Are you going to work by yourself, or with a company?
(Btw, companies take a good share of your profits)

I am married to one

It depends if you make your money by hour/month or , more likely, by deal.

You have to be prepared that the first half year or so can go by with no deal.

Now, in Israel, sales are in a bit of a slump as people are waiting for prices to drop, which they have started doing, but still.

I hope you realise too, that it is not like selling a dress or jewelery. Buying/investing in properties involve huge sums of money, which make it more difficult for clients to decide, which lends itself to indecision, and last minute regrets/refusals.

You have to have a good touch with people.
You have to be really educated about the property before trying to sell it.
You have to learn how to understand what each individual person wants even if he has trouble expressing it, by understanding, not assumption. By asking questions to help clarify the issues and main concerns for the client.
You will do more talking than you thought you would.
You have to learn to roll with the punches.
You will learn that there are people who will ask you seemingly stupid and repeated questions and test your patience.
It is a job with irregular hours.
You will learn that two partners wanting to buy something shared complicates matters, and two sets of mechutanim have the potential to complicate matters even more.
And you will probably learn more.

Let me tell you this; the percentages are usually well earned.
- This is from my experience.
If you have any other questions, post them here, and I will try to ask my dh.

Posted: Sun, Feb 26 2012, 5:54 pm Post subject: re: Real Estate Broker

Thanks.

BUMP

Posted: Sun, Feb 26 2012, 7:53 pm Post subject: re: Real Estate Broker

I can tell you as someone looking for a house that I don't think it's worthwhile, at least here in NY. I am working with a frum woman and she has taken me to countless homes on Sunday, evenings and other days and I still have not found the "one"

Also, my dh recently told me he wants to wait a year or so to buy because we would have more money saved. So, I'm suspending the search. So far all that work and she didn't make a dime off of me. She is great and I will IyH use her when I resume my house search but that is not to say that she will for sure get the commission because sometimes other brokers send me listings first and I feel fair is fair to give them the first shot. Any time I see a listing myself, I call her first.