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mssunshyn_IHB

mssunshyn_IHB

New member
Good Morning Everyone!



I need some help and advice from all you pros out there. I have a full time career outside real estate but real estate has been my passion for as long as I can remember. I finally decided to follow my heart and I took all the necessary classes to qualify me to take the Broker?s exam - I have a bachelor?s degree so I didn?t need the two years sales person experience. Happily, I passed on my first attempt. But now I?m at a loss as to how to actually get started. I am extremely intelligent and hard working and I?m driven to be very, very successful (why do I suddenly feel as if I?m writing a singles ad and not a real estate forum post? Haha!). I?m not sure if I should try to go it all on my own or attempt to get a job with an established brokerage first. The whole point of getting my Broker?s license was so I could be my own boss and keep my own commissions, but now I wonder if I should get some brokerage experience first. If you do think I should sign on with a brokerage, do you have any suggestions of good ones? Any contact names? If I work for someone, I want to work for the best. What type of commission split should I expect? I am aware that this is not the best of times for the real estate profession but I feel like this is what I am truly meant to do. Thanks for taking the time to read this and for your advice.
 
I'm not a professional, but I will give my opinion. When you start a new business, there must be a core competency or advantage for your business vs. competition. For a realestate agent, I believe their advantage would be their network. If you have a bunch of friends and family that are rich, you have to tap into that. If you are better at networking then others, that is also an advantage. If you have none of these advantages, then why start a new business in the first place?
 
[quote author="mssunshyn" date=1251760007]Good Morning Everyone!



I need some help and advice from all you pros out there. I have a full time career outside real estate but real estate has been my passion for as long as I can remember. I finally decided to follow my heart and I took all the necessary classes to qualify me to take the Broker?s exam - I have a bachelor?s degree so I didn?t need the two years sales person experience. Happily, I passed on my first attempt. But now I?m at a loss as to how to actually get started. I am extremely intelligent and hard working and I?m driven to be very, very successful (why do I suddenly feel as if I?m writing a singles ad and not a real estate forum post? Haha!). I?m not sure if I should try to go it all on my own or attempt to get a job with an established brokerage first. The whole point of getting my Broker?s license was so I could be my own boss and keep my own commissions, but now I wonder if I should get some brokerage experience first. If you do think I should sign on with a brokerage, do you have any suggestions of good ones? Any contact names? If I work for someone, I want to work for the best. What type of commission split should I expect? I am aware that this is not the best of times for the real estate profession but I feel like this is what I am truly meant to do. Thanks for taking the time to read this and for your advice.</blockquote>
Congrats on passing your broker's exam. Have you officially got your RE license from the state? If so, your next step would be to select a local realtor association (www.ocar.org) and pay the initiation dues along with the MLS and realtor dues to get access to MLS. If you will plan on being a broker on your own, I HIGHLY suggest that you get yourself E&O Liability Insurance (about $1,000/yr). The most difficult part of real estate will be getting clients....you will need to market yourself somehow and establish a good reputation for yourself. I would also suggest that you focus on a particular area, one that you know fairly well because you can't be a generalist and expect to know every city and every neighborhood. It'd be a good idea to create your own website as well.



As for going to work under another broker...a national firm will have commission splits that range from 60-40 to 80-20 along with annual dues and per transaction costs. Smaller discount brokers will have a 90-10 or even a 100-0 commission split along with annual dues and per transaction costs. Remember that you will also be responsible for file retention if you are your own broker (it can be a pain in the booty). It's nice to know that an educated person has joined the ranks of the realtors because there's a lot of idiots out there. Good luck!
 
Beg IrvineRealtor to intern for him for free so that you can learn how to put integrity above commissions and sales.
 
[quote author="awgee" date=1251797290]Beg IrvineRealtor to intern for him for free so that you can learn how to put integrity above commissions and sales.</blockquote>


Haha! I'm so not above begging. ;-)
 
I think IR2 and usc should form their own brokerage to battle the C21, ReMax and RedFins of the world... or hook up with the upcoming IHB to make an RE dream team.
 
[quote author="mssunshyn" date=1251847168][quote author="awgee" date=1251797290]Beg IrvineRealtor to intern for him for free so that you can learn how to put integrity above commissions and sales.</blockquote>


Haha! I'm so not above begging. ;-)</blockquote>


Hello mssunshyn,



Welcome. It seems that I'm wildly popular, chiefly among people that do not need my service. :-)



I believe the beginning of zubs' advice is as sage as you'll find. I believe it is key to distinguish yourself and define your own service from the competition. You must be able to confidently answer why it is that someone should choose to work with you compared to any other choice.



If you have other questions I'm happy to answer them off-line.



Best wishes and good luck,

-IR2
 
[quote author="no_vaseline" date=1251847411]What are you doing for employment right now?</blockquote>


I have a very secure job with the government. I do enjoy it and I'm very thankful for having it, but i don't love it. What can i say, I'm just a starry-eyed real estate noob.
 
[quote author="mssunshyn" date=1251853131][quote author="no_vaseline" date=1251847411]What are you doing for employment right now?</blockquote>


I have a very secure job with the government. I do enjoy it and I'm very thankful for having it, but i don't love it. What can i say, I'm just a starry-eyed real estate noob.</blockquote>


I think loving your job is a myth unless you are independently wealthy and do charity work or something just for kicks. They call it work for a reason. And being an a good realtor in a down market will be a ton of it. IMO.



No matter what you do, good luck!
 
[quote author="no_vaseline" date=1251854118][quote author="mssunshyn" date=1251853131][quote author="no_vaseline" date=1251847411]What are you doing for employment right now?</blockquote>


I have a very secure job with the government. I do enjoy it and I'm very thankful for having it, but i don't love it. What can i say, I'm just a starry-eyed real estate noob.</blockquote>


I think loving your job is a myth unless you are independently wealthy and do charity work or something just for kicks. They call it work for a reason. And being an a good realtor in a down market will be a ton of it. IMO.



No matter what you do, good luck!</blockquote>


I don't know, I like what I do. It is extremely challenging at times but there are Sundays that I look forward to Monday morning...just lucky I guess
 
[quote author="morekaos" date=1251855084][quote author="no_vaseline" date=1251854118][quote author="mssunshyn" date=1251853131][quote author="no_vaseline" date=1251847411]What are you doing for employment right now?</blockquote>


I have a very secure job with the government. I do enjoy it and I'm very thankful for having it, but i don't love it. What can i say, I'm just a starry-eyed real estate noob.</blockquote>


I think loving your job is a myth unless you are independently wealthy and do charity work or something just for kicks. They call it work for a reason. And being an a good realtor in a down market will be a ton of it. IMO.



No matter what you do, good luck!</blockquote>


I don't know, I like what I do. It is extremely challenging at times but there are Sundays that I look forward to Monday morning...just lucky I guess</blockquote>


I dunno.. I wouldn't mind having Tiger Wood's job. I'm sure he loves his job.
 
[quote author="PANDA" date=1251857138][quote author="morekaos" date=1251855084][quote author="no_vaseline" date=1251854118][quote author="mssunshyn" date=1251853131][quote author="no_vaseline" date=1251847411]What are you doing for employment right now?</blockquote>


I have a very secure job with the government. I do enjoy it and I'm very thankful for having it, but i don't love it. What can i say, I'm just a starry-eyed real estate noob.</blockquote>


I think loving your job is a myth unless you are independently wealthy and do charity work or something just for kicks. They call it work for a reason. And being an a good realtor in a down market will be a ton of it. IMO.



No matter what you do, good luck!</blockquote>


I don't know, I like what I do. It is extremely challenging at times but there are Sundays that I look forward to Monday morning...just lucky I guess</blockquote>


I dunno.. I wouldn't mind having Tiger Wood's job. I'm sure he loves his job.</blockquote>


I love my wife.

I love my mother.

I love my dog.

I like my job, but I'm certainly not in love with it.



See the difference?
 
[quote author="no_vaseline" date=1251877083][quote author="PANDA" date=1251857138][quote author="morekaos" date=1251855084][quote author="no_vaseline" date=1251854118][quote author="mssunshyn" date=1251853131][quote author="no_vaseline" date=1251847411]What are you doing for employment right now?</blockquote>


I have a very secure job with the government. I do enjoy it and I'm very thankful for having it, but i don't love it. What can i say, I'm just a starry-eyed real estate noob.</blockquote>


I think loving your job is a myth unless you are independently wealthy and do charity work or something just for kicks. They call it work for a reason. And being an a good realtor in a down market will be a ton of it. IMO.



No matter what you do, good luck!</blockquote>


I don't know, I like what I do. It is extremely challenging at times but there are Sundays that I look forward to Monday morning...just lucky I guess</blockquote>


I dunno.. I wouldn't mind having Tiger Wood's job. I'm sure he loves his job.</blockquote>


I love my wife.

I love my mother.

I love my dog.

I like my job, but I'm certainly not in love with it.



See the difference?</blockquote>


<em>Nothing is really work unless you would rather be doing something else</em>. Maybe that's where I'm at. ;-)
 
Ok, I have to ask, does anyone watch those shows with Richard Davis and Trademark Properties? And no, he was not my inspiration to begin a career in Real Estate, it's always been something that I've wanted to do. But I took a look at his website and I do think he's got a good idea about how he sets up his compay.
 
[quote author="no_vaseline" date=1251927951]I'm confused. Are you saying you want to be a broke crook?</blockquote>


LOL. No!! So, I'm guessing you're not a fan? I just mean how he has the different segments to his business (Residentail, Relocation, Investment, Commercial, etc.). I like how it seems all inclusive but I can't imagine being an expert in every aspect. My guess is that it's probably best to specialize? Is he really broke??
 
[quote author="PANDA" date=1251857138][quote author="morekaos" date=1251855084][quote author="no_vaseline" date=1251854118][quote author="mssunshyn" date=1251853131][quote author="no_vaseline" date=1251847411]What are you doing for employment right now?</blockquote>


I have a very secure job with the government. I do enjoy it and I'm very thankful for having it, but i don't love it. What can i say, I'm just a starry-eyed real estate noob.</blockquote>


I think loving your job is a myth unless you are independently wealthy and do charity work or something just for kicks. They call it work for a reason. And being an a good realtor in a down market will be a ton of it. IMO.



No matter what you do, good luck!</blockquote>


I don't know, I like what I do. It is extremely challenging at times but there are Sundays that I look forward to Monday morning...just lucky I guess</blockquote>


I dunno.. I wouldn't mind having Tiger Wood's job. I'm sure he loves his job.</blockquote>


During the 80's while he was a kid practicing at the Los Alamito Course his Asian mother believed in Feng Shui. Parents call their kids by an animal name like "dog, pig, cat, tiger, lion and etc". The idea was to fool the officers of the death that has a roster of the kids real name coming to take their spirit away. Red has been a color of luck and propsperity.



His mom made sure he is always around the color red even for the schools he attended.
 
[quote author="irvine_home_owner" date=1251849788]I think IR2 and usc should form their own brokerage to battle the C21, ReMax and RedFins of the world... or hook up with the upcoming IHB to make an RE dream team.</blockquote>
Now that's an thought. It'd be nice to run those big chains out of town. haha
 
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