Q:Is there such thing as a real estate company? If there is then what do they do? How can I start a real estate company and how much will I make, will I be rich? What are the steps to opening up my own company and be the owner.

Ok, so you're obviously very young. It's good you're asking questions. First things first, you won't just be rich selling real estate, though you can certainly get rich if you want to. A real estate company employees real estate agents who represent both sellers and buyers in real estate transactions, i.e. selling homes, commercial properties, government properties and a lot of other types of properties. Traditionally you would first have to become an agent and get experience long before you would open up your own company and higher other people. A real estate agent gets a commission when a property is sold (usually 2%-4%), often the buyers agent and the sellers agent will split the commission. The agents work for or contracts with a Real Estate Company and the owner/s of the company get a piece of every agents commission. If you have a big agency or an agency which specializes in high-end homes or commercial properties (or other niche real estate services) and you are successful you can become very rich indeed. Then again, it's a lot of work, making a lot money is not easy, if it was everyone would be doing it. However, you can do it if you want to, most people don't believe in themselves or were brought up not to believe they could achieve great financial success. Do some googling to find out more information on real estate.

Q:I've read some things saying Real estate is a bubble and it is going to pop sometime in the future. What does this mean and what will be the effects of the burst?

The real estate market runs in cycles, always has and always will. Sometimes it's up and sometimes it's down, but it always returns either way. Lucky for me, I live just outside of DC so there are plenty of jobs and always a huge demand for housing, so this so called bubble won't effect my business.

Q:My girlfriend is set on being a real estate agent after high school. She has always said that she doesn't want to go to college because she doesn't want to go into debt when she doesn't need to. She thinks that you don't need a degree to be competitive as a real estate agent. Is this in correct? And if she would be better off with a degree, what should she major in? I thought Real Estate would be the obvious one, but it doesn't seem like it's a degree widely offered in schools that aren't giving it online. Would something like a degree in advertising be better?

Even if you do not need a degree to become a real estate agent it's best to have a degree in business or finance or real estate. It will be your edge and weapon against a great number of real estate competitors. You'll have a good foundation, knowledge as well as training that will offer you greater career opportunities in real estate.

Q:I am thinking of going to real estate school? is the market really bad right now? what other kids of jobs can you work withthe real estate liscense that actually pay decent money? I live in New jersey, incase that makes a difference.

Real Estate is usually a good career. Hopefully the part of New Jersey you are in, is a mix of urban and suburbs. With sales positions, one needs to advertise, to let the public know that you exist. If you are fresh out of real estate school, volunteer to answer the phone at the front desk as often as you can, people call the office looking for someone to list their homes for them, they don't need to know that you just started. Work with an experienced associate in the office that you get along with and you feel that you can trust, maybe slit the commission with him/her until you can do it on your own. The sky is the limit if you believe in what you are doing and you do it well. Growth will bring financial reward.

Q:What is the best way to buy a house/comdo? Dealing with a real estate agent or just calling the phone number on the for-sale sign? what's the difference? What's the difference cost-wise also?

There is no difference in cost to the seller. If you hire a buyer's agent that agent is paid out of the commission the seller has likely already obligated themselves to pay. If you use the seller's agent that agent will receive all the commission themselves. The seller's agent is obligated to get the best deal for the seller they can possibly and legally do. A buyer's agent is obligated to look out for your best interest. A buyer's agent may be able to negotiate a better price or better terms for you, and will make sure you get the home inspected and other things that will protect you.

Q:Does anyone know of an online program or college that will qualify me to become a real estate broker and take the test? I'm currently going to the university of phoenix for business marketing and wanted to know if the credits that I earn will qualify me. If not, does anyone have any suggestions of online programs or anything to become a reaal estate broker? Thanks

The test is broken up into two parts: a morning exam and an afternoon exam with a lunch break in between. I studied the manual I received and listened to the CDs. During the first part of the exam I hardly recognized any of the questions and at the lunch break I called Mr. Henderson and spoke with him directly.

Q:My dad recently informed me about a career in real estate. Im currently a junior and its getting to that point where i need to really learn about what i want to do. My mother says that she does not want me to do real estate. I dont know why and i would like to know more about it.What are the downfalls?How hard is it to get into real estate?What are the upsides?How much money do you make?Is it a good profession?Any additional information would be good i really want to know about it in a simple way!

Real estate business is not easy to do. There are many things should have to be cosidered. If you are real estate agent then its depend how many months experience you have. How many clients do you have, how much you charge from clients. A real estate broker typically receives a payment called a commission for successfully matching a seller's real estate with a buyer such that a sale can be made. This commission can be divided up with other participating real estate brokers or agents when applicable.

Q:Just curious how real estate people are making ends meet. The "easy" money of listing and selling and taking people's equity has put a temporary freeze on your earnings. Just was curious as to what other means you all have at this time?

This isn't the first time that there has been a leveling off in the real estate industry. Nor will it be the last. Think back to the 80's when people paid 12-15% interest on a home mortgage. Homes still sold and buyers still bought. In fact many people know that mortgage rates are still quite low and selection and motivation on the part of the seller are quite high. What's hapening now is that people who got into the industry thinking it was easy have paid out a lot of money with very little return. Real Estate Agents typically have a 90% turnover rate. That's up even more with the downturn in the market. That means that although there might be less business, there is also less competition. In addition, seasoned realtors are stepping out of the business (retiring). Real Estate agents are almost entirely independant contractors. We only get a paycheck when we sell a house. It's never an easy business when you have no idea where or when your next paycheck is coming. We get no benefits and no unemployment. That means we're always on the look out for a way to make additional money. Often that comes in the form of investments in rental properties or services associated with the rel estate industry. In regards to some of the other posts: Realtors are not responsible for obtaining a mortgage or home equity line. Financial information is confidential and I cannot call a mortgage broker and have them tell me what your income is are how you ntend to pay your mortgage. My role is to assist you in locating a home within the perameters that you set up.

Q:I am 14 years of age and recently attended a Career Fair and really liked the Real Estate program and the Architect program, is there a job where these are combined?Or can you design the houses and then sell them?

Get a real estate license. Get a degree in Architecture. Build and design your own homes or buildings. Sell them. Be filthy rich by the time you're 30. All in a nutshell. For a 14 yo, you got your head on right! There's nothing that makes more money quickly in this country than owning and selling real estate. You've just stepped up your bank account by thinking about designing your own buildings too! Go for it and don't give up that plan! You'll be the next (young) Donald Trump!

Q:i am thinking of starting a new career in real estate can anyone give me some good advice

depends on what you are looking for. Real estate is a complex game. Are you thinking of investing in real estate? If you are shoot me an email at liang_jame@bentley.edu