Q:I'm a recent college grad and I've become very interested in a career in real estate. My question, however, is how exactly to begin? I majored in psychology (as opposed to the conventional business, finance, or accounting) and currently do not have experience in real estate (no internships). Which positions and formal training should I pursue?I have recently thought about appraising or property management, though I'm wondering if these would be a great start for my career. Also, should I focus on pursuing a master's degree within the next few years?Thanks!

The place to start in the real estate industry is at your state's real estate commission. There you will find all you need to know about getting licensed. Where I live you need to be a licensed agent to be a property manager for others, and an appraisal license to be an appraiser. To be a successful agent you do need marketing experience. It is not just about marketing properties but about marketing yourself too. Being a Psych major could be a real benefit. But remember you are only paid commission so if you are not good at it, you are not paid much, if anything. Property management and appraising are finite services, so you know if you get the job you will most likely be paid for doing it. Before I got into the business I thought i wanted to be an appraiser, but the owner of the largest appraising firm in my market talked me out of it because he told me I would never be able to make the kind of money I wanted to make. Bottom line: Not the best time to get into the real estate business, but if you do, go ahead and get licensed as an agent. Once licensed you will quickly learn which aspect of the business best suits you and be in a position to immediately apply. And if none turn you on, you still have the option of returning to school.

Q:Which city, and state, has the best real estate market? I want to be a realtor next year. When I'm 18. But I want to do it right. I'm currently in college for a degree in business. Where is the best place to start at? I'm in Seattle, Washington. Is NY good? Texas? California? Washington DC? Please help. Also, what does it take to be a real estate agent? Can you just hop right into luxury real estate? Thank you.

Several major cities in Texas have good, stable real estate markets. You'll want to earn a Bachelor's in either Business or Finance to be successful in the real estate business. It's not a pre-requisite to obtain a license however it will be a good foundation. There are fast-track programs where you can earn your license in 3-6 months, or less. Once you have your license and work for a couple of years you are eligible to take the broker's exam, the educational pre-requisite is to hold a Bachelor's degree. As a broker you can hire agents to work under your broker's license and you'll collect a percentage of the commissions. No one hops right into the luxury market until they've closed many high-end property deals in the market area they are working in, and have developed a reputation that earns the respect of the clients they represent (or seek to represent). It's the way it is. Once you have your license, and want to really get your feet wet, borrow some cash and do a flip and list it yourself. Rinse and repeat. Obtain your broker's license and compete for HUD foreclosures to flip and build on your business. When the time is right look into commercial property development. Good luck.

Q:Do they have any specific educational requirements? I know in the US you usually need to take a written exam and college courses, but I believe in some EU countries(UK, Spain) you don't need any requirements(besides good communication skills). And is there a website for real estate agent requirements? I looked but couldn't find anything.

I would like to recommend that you take a look at the products on this site, especially the ebook. I am sure it will help you. The information they provide in this ebook caters for :- o Persons who are simply trying to sell their home o Persons buying a home o Persons in the real estate business It is very informative and very easy to read.

Q:I don't know a lot about it , but i loveee houses. I think it would be such a cool job, and i hear you can become quite wealthy from it too. Ive heard there has been deflation on houses, so does that affect the want for more real estate agents? what is average salary? are there any colleges known for giving a good education on real estate? thanks------- marshall

Housing markets don't affect real estate agents. Why? Because regardless of how the economy or housing market is doing, people will still be selling and buying homes. In a slow housing market, it's a buyer's market and buyers get so many options and for a lot less than during a seller's market. During a seller's market, sellers are making a kill while buyers scramble to get their foot in the door of multiple offers left and right. There is no salary. We are commissioned. When we close a deal and the title is transferred, that's when we get paid. If a deal collapses for whatever reason, we make nothing. You don't need to go to college to be a real estate agent. You simply take the licensing courses required by your state, pass the licensing exam, and off you go! It's an amazing industry where you get to be your own boss, set your own hours, etc. The downside is we live off our commissions so if we have no deals coming in, we have to learn to tighten our belts and save up for those rough patches.

Q:I hear net-net and triple-net a lot in real estate discussions. What do they mean?Thanks!

It means someone is feeding you a line of bullcrap. Don't listen to any expert in Real Estate. There aren't any. Real estate is common sense. If you don't understand it stay away from it. Someone is pulling your chain. I could show you how to make (not a seller and not interested in your money) how to make INCALCUABLE returns (this doesn't mean big money, it's a silly numbers game all the big shots play). Doesn't mean anything. Real Estate is just like the stock market. If you don't understand that PARTICULIAR area then don't invest. Again, DON'T INVEST because someone is jerking you around. I don't know what discussions you claim (I have never heard of it nor would I believe it). Anyway, you asked. I answered. Plz no best answer. Just another email I will delete without reading.

Q:I have heard that there is plenty of money to be made in real estate investing but I don't really know how true this is. I really want to know before I put in my hard earned money.

If you have capital to invest, and are a wise investor , then it's possible. But do your homework before you put one dollar on the table.

Q:Any real estate agents out there? I'm hoping to get my Cert IV in property services (real estate) next year, but I know nothing about the industry... I would like to know-Do I need to be a pushy person to make sales-Will i get paid even if i dont get sales-Do i have to lie to clients about properties-Do I need to be extremely outgoingAny help GREATLY appreciated :)

no sometimes no yes you will have to doing alot of traveling back and forth to properties

Q:what type of hands-on experience and also classes, books, anything would i need to learn real estate development?

There is no way to learn real estate development without actually doing it. You can take basic classes in real estate, finance, land planning, architectural design, but nothing will prepare you for actual development. You will have to learn how to work with people that purchase, finance and design projects. Each of these areas have their own nuances and getting experience is the only way. I don't know how old you are but real estate development is not for the fool hearty. You must have a good sense of finance and a great deal of patience. Its tough work and their are so many things that can and do go wrong. Get a degree from a reputable university and then get a job with a developer and when you are ready then go out on your own.

Q:There is almost no need for education to be a real estate agent. For how long can this job survive before becoming obsolete?

Not sure who told you that you don't need an education to be in real estate. However, in order to be successful, I have found that you need an understanding of: sales management marketing accounting finance construction land development law government regulations I have a BS in Marketing and an MBA. I use these skills everyday. In addition, to keep my license in 3 states, I have to take over 60 hours of education a year. Plus I need to continually keep up to date with the trends and new laws. I'm proud of my profession and make a very good living.

Q:I'm looking to get in the field of real estate appraisal school,but can't afford the fees .I have 4 children and trying to better their lives.can anyone tell me what would be a good school or a service that would help me.

Um...well, considering the market in real estate lately, I would not recommend it at all. If you want something stable, do not go into real estate. However, the courses are inexpensive. I know of one community college in Ohio that does provide financial aid. The courses are short, too. You can get the courses done in a matter of months. If you live in Ohio, contact me and I will tell you the info. However, the chances of you living in Ohio close to the community college where I live is slim to none. I would suggest looking into community colleges near you. Again, if you are looking to improve the lives of your children. Do not go into real estate. There are other alternatives, but they may take longer than a few months. The pain, I believe, is worth the gain. Feel free to e-mail me with any questions.