Last year appears to be the best year in real estate in a decade, and probably longer. If you’ve ever considered a career in real estate, this could be a great time to jump in. Not only has the housing market heated up, but the average age of real estate agents in California is 58. Given the fact that most people stay in their homes for 5-7 years, many of the agents currently in business will be retired by the time last year’s homebuyers are in the market again.
A job as a real estate salesperson (or any salesperson, for that matter) can be the easiest low paying job or the hardest high paying job. If your career goal is to sit around, read the paper, and drink coffee while talking with friends, you’d become a Realtor in the first category. If, on the other hand, you’re will to be organized, show up early and occasionally work late with a clear goal of helping others, then you could fall into category two.
I’ve been doing this for more than 40 years and I cannot imagine doing anything else. Although it absolutely requires hard work and long hours, it also affords me the flexibility to schedule vacations when I like, attend my children’s sporting events, and be in control of my own financial future.
Most licensed agents can find a job within a day or two in almost any city in the nation. There are some requirements, however, before you can call yourself an agent. First and foremost, you must pass the state exam to earn your real estate license. Then, you must have the wherewithal to run your own business, even if you’re working for a broker.
As with any startup, a new real estate business requires some capital. If you’re like me, you enjoy food with your meals. Not only that, you prefer a roof over your head and clothes on your back. So, when you venture out into your new career as a real estate agent, you need to have the funds to pay for business expenses and living expenses until your commission checks start rolling in.
If this career path is of interest to you, talk to some people. Talk to Nash Gonzales, the real estate instructor at Mendocino College. Talk to Don Strickland at Redwood Empire Title. Talk to a real estate broker or two here in Ukiah. Each one will give you a slightly different perspective on the business, but I guarantee all of them have been involved for many years and can’t think of a more satisfying career.
As I mentioned, this is a great time to get into real estate. During the next five years or so, you can learn from people who’ve been selling properties and land for years (some of them, decades); then they’ll retire. Not only will you benefit from their years of institutional knowledge, they can provide you with a book of business in return for referral fees. In most cases, this will be well worth the investment.
As you get further into the business, you may choose to specialize in a certain area: residential, commercial, industrial, ranches/land, agricultural properties, or new development. Each area has laws and practices associated with it, from zoning to water rights. If you’re selling ranches, plan on owning a four-wheel drive vehicle and a pair of hiking boots. If you want to sell agricultural property in Mendocino County, understanding how soil and terrain affect different types of grapes comes in handy. If you want to work with a developer to subdivide land and build spec houses to sell, you better be good at details and willing to work with bureaucracy at all levels. Whatever you choose, I welcome you to the wonderful world of real estate.
If you have questions about getting into real estate, please contact me at rselzer@selzerrealty.com or call (707) 462-4000. If you’d like to read previous articles, visit my blog at www.richardselzer.com. Dick Selzer is a real estate broker who has been in the business for more than 40 years.