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Old 01-07-2010, 06:28 PM   #16
Boss17
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Quote:
Originally Posted by hustler View Post
Realtors have an amazingly high atrophy rate. In fact, depending on the board, typically well over 80% in the first year. The numbers also show that something like 5% of the agents earn 90% of the commission. It seems like either a strong real estate market, or a shitty job market drives people to consider alternate employment.

AMG Power: The courses to get a license take about 2 months each, and there are three of them. Then you basically get a learners permit, and in two years do some more courses and get a full license. From then on, every two years you do refresher courses. The most time consuming part of doing courses is waiting for the schedule to make the correct one come around.

Boss17: I know what you mean. At 29, and after a little more than 5 years at it, people are just starting to take me seriously. When I first started I was apparently too young to have any sort of credibility.
It's quite sad that the general public look down on young business people trying to make a name for themselves. I made the horrible mistake of getting in the industry when it went bust. Consequently, I took a pretty bad hit from it. Now I work at BMW and plan to move up in the company.

As far as real estate agents go, it's very true, they're a dime a dozen. That's the problem with this industry, essentially anyone can do it. So then you run into the problem of, how can you really determine who's good and who's bad? who knows their stuff? who's willing to go the extra mile? You can't and that's the fundamental problem.

I was working for Remax when I was in real estate and I was the youngest in my office, the only one with a BA, and by far the only one who could put together a well thought out and articulate presentation, speech, email, etc. That is quite sad if you ask me.
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Old 01-07-2010, 06:44 PM   #17
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I've been a Realtor for over 5 years now and absolutely love it. Its a really hard business to get rolling in though and its not made for everyone. That's why 80% of realtors are out of the business in the first year. Take in consideration your licensing fees, desk fees, advertisements, etc all add up. You have to have a unique set of characteristic traits to make it in this business!

By the way I have a beautiful semi-detached home near the hospital in Brampton for sale. Its about 1700 sq. F and 6 years old. Currently leased out to some church folks at an excellent price! My client is willing to accept $300,000 if anyone is interested! I also have a 2 bedroom condo available for sale by 427/Derry in the Tridel Buildings. Message me for further details!
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Old 01-25-2010, 11:38 PM   #18
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Our family business is Real Estate downtown Toronto. We've been practicing since '89.

www.GraceHomes.com

Yet to help a MaxBimmer member. I've helped a few guys from the Audi community.
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Old 01-27-2010, 02:13 PM   #19
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Quote:
Originally Posted by Boss17 View Post
It's quite sad that the general public look down on young business people trying to make a name for themselves. I made the horrible mistake of getting in the industry when it went bust. Consequently, I took a pretty bad hit from it. Now I work at BMW and plan to move up in the company.

As far as real estate agents go, it's very true, they're a dime a dozen. That's the problem with this industry, essentially anyone can do it. So then you run into the problem of, how can you really determine who's good and who's bad? who knows their stuff? who's willing to go the extra mile? You can't and that's the fundamental problem.

I was working for Remax when I was in real estate and I was the youngest in my office, the only one with a BA, and by far the only one who could put together a well thought out and articulate presentation, speech, email, etc. That is quite sad if you ask me.

That's not a nice scenerio at all. Sorry to hear.
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Old 01-28-2010, 12:45 PM   #20
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I'v been in the industry but not a real estate guy, we tried one once to help us when buisness was slow but well, the few we tried out sucked, we were doing better on our own without one and not having to pay them commision for doing nothing.

I am a partner in a housing development for the past 4 yrs.
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Old 01-28-2010, 01:56 PM   #21
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Originally Posted by Blackedout95 View Post
Going on 11 years now, since I was 20.
same here!
I started back in 1999 and got my license in 2000! I was working privately for a builder/renovator and got my license that way!

Been over 10 years now! I love the business but hate the industry and how corrupt and cut throat it is! Im definitely not leaving the business but now Im very selective on my choice of clients.

Doing well and still continue doing it on a more selective basis!
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Old 01-28-2010, 02:01 PM   #22
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Quote:
Originally Posted by Boss17 View Post
It's quite sad that the general public look down on young business people trying to make a name for themselves. I made the horrible mistake of getting in the industry when it went bust. Consequently, I took a pretty bad hit from it. Now I work at BMW and plan to move up in the company.

As far as real estate agents go, it's very true, they're a dime a dozen. That's the problem with this industry, essentially anyone can do it. So then you run into the problem of, how can you really determine who's good and who's bad? who knows their stuff? who's willing to go the extra mile? You can't and that's the fundamental problem.

I was working for Remax when I was in real estate and I was the youngest in my office, the only one with a BA, and by far the only one who could put together a well thought out and articulate presentation, speech, email, etc. That is quite sad if you ask me.
BINGO!!!
I lost soooo many deals that fell through or literally walked away from me after seeing me in person!!

It was really fn ruff for me when i started for the first 5 years! I did fantastic with some close referral clients in my 1st year that saved me as i scavenged and scratch the minimum to sustain my fees all around! I came sooooo close to leaving the biz.

It really isnt for everyone!
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Old 01-28-2010, 02:56 PM   #23
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Quote:
Originally Posted by Boss17 View Post
It's quite sad that the general public look down on young business people trying to make a name for themselves. I made the horrible mistake of getting in the industry when it went bust. Consequently, I took a pretty bad hit from it. Now I work at BMW and plan to move up in the company.

As far as real estate agents go, it's very true, they're a dime a dozen. That's the problem with this industry, essentially anyone can do it. So then you run into the problem of, how can you really determine who's good and who's bad? who knows their stuff? who's willing to go the extra mile? You can't and that's the fundamental problem.

I was working for Remax when I was in real estate and I was the youngest in my office, the only one with a BA, and by far the only one who could put together a well thought out and articulate presentation, speech, email, etc. That is quite sad if you ask me.
Do you work at BMW Durham?

anyways, I start young as well with little to no experience, luckily for me is everyone in my family other than my parents runs a business, so I had lots of people force feeding me info and experiences.

First thing I learned was to shut up, if its business, shut up and listen and only open my mouth when the other end is done, at first I was very stubborn but quickly changed my way of thinking.

I think the biggest problem now is general public's relative perception, everyone of them said they want someone who's creative etc, new blood, yali yada, but at the end, they want someone who's reliable with proven records, knows how to deal with problems, they don't really give a flying **** if you think outside of the box, if you cannot deliver a product/service on time, in prestine shape at a good price while make them feel like king and queen, then you might as well be the neighbor's irritating little Maltese that never shuts up.
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Old 01-29-2010, 08:45 PM   #24
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how can people even mention selling insurance vs real estate? Real estate is a way more exciting and glamorous game! but you gotta husssstle mannn to stay alive.

i hate agents, they only work for one person - themselves "oh this house is great value blah blah blah" buyer's agents are the worst because they convince you that they are on your side... trickyyy..

if you want real money - become a real estate investor its the only way to go!
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Old 01-30-2010, 09:47 AM   #25
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Originally Posted by Bmwstylz View Post
I hate agents, they only work for one person - themselves "oh this house is great value blah blah blah" buyer's agents are the worst because they convince you that they are on your side... trickyyy..
I honestly feel bad for you. You're painting a lot of people with a very wide brush. If you need a Realtors help in the future, I challenge you to PM me and you'll see how the 5% who do 95% of the business treat their clients as if they are family.

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Old 01-30-2010, 12:24 PM   #26
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Whats the average commission rate in the GTA area?
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Old 01-30-2010, 12:43 PM   #27
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^good question.
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Old 01-30-2010, 03:14 PM   #28
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^^afaik 2.5-5%, but geoff can answer this more accurately than i can.
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Old 01-30-2010, 07:13 PM   #29
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Its typically 5%. 2.5% to the listing brokerage and 2.5% to the co-operating brokerage.
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Old 01-30-2010, 08:40 PM   #30
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Whats the average commission rate in the GTA area?
Depends on where and the product too ...
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