It seems that everyone wants to hop on the real estate bandwagon nowadays and it’s understandable. It can be a really lucrative endeavor whether you become and real estate agent, an investor, or both. For those wanting to become a real estate agent, here are 3 things to know before becoming a real estate agent and making that plunge.
1. Once you become a licensed real estate agent, you will need to join a brokerage to be able to engage in real estate activities. Different brokerages have different fees and work environments so are sure to check out a few and find your fit.
2. There are some other fees that you will incur including, but not limited to, a monthly E-key fee (Key used to open houses), a yearly county association fee, and a quarterly MLS fee (System used to locate houses).
3. You will only generate revenue if you close deals so be prepared to work for a while before seeing any money.
Some people maintain a part-time job to help get them through the first few months.
These are some things that I was not aware of when I started so I figured it would be good to share the knowledge. Good luck!