Teen wants to be a realtor

[Anonymous]

She should couple this with a finance degree so she can open her own lending company.

Reality can be hard to pay your bills because it's feast or famine. When I waited tables, there were plenty of young relators doing it too because they needed steady income to weather the down times.

[Anonymous]

Anonymous wrote:Do you think this is a realistic/good career path?

No.

I am so sorry, OP. Maybe they will come to their senses before it’s too late?

[Anonymous]

The future of real estate is personalized AI tech innovations. Real estate agents can help with this but they would need to pivot. The industry will look different 5 years from now.

[Anonymous]

Anonymous wrote:She should couple this with a finance degree so she can open her own lending company.

Reality can be hard to pay your bills because it's feast or famine. When I waited tables, there were plenty of young relators doing it too because they needed steady income to weather the down times.

I don't know why people assume it's a girl! It's my ds. I am concerned because as this thread shows people look down on realtors as morons. He is a smart kid, very enterprising, has a job and a self-employed gig on top of it. I think it would theoretically suit him, but I do worry about prospects as well.

[Anonymous]

Why not? Maybe add personal finance to that.

[Anonymous]

Anonymous wrote:You have to be a people person.

He is a people person. He can't go places without making friends.

[Anonymous]

Anonymous wrote:Stop letting her watch million dollar listing and HGtv.

People on this thread need to stop watching Selling Sunset.

[Anonymous]

Anonymous wrote:

Anonymous wrote:She should couple this with a finance degree so she can open her own lending company.

Reality can be hard to pay your bills because it's feast or famine. When I waited tables, there were plenty of young relators doing it too because they needed steady income to weather the down times.

I don't know why people assume it's a girl! It's my ds. I am concerned because as this thread shows people look down on realtors as morons. He is a smart kid, very enterprising, has a job and a self-employed gig on top of it. I think it would theoretically suit him, but I do worry about prospects as well.

It can be a really good career, but she should understand the reality that it’s very much sink-or-swim and that if he goes and works at a brokerage it’s not like they’re just going to hand him buyers/sellers. A lot of times it goes by seniority, and he can go a long time without being paid since it’s all commissions.

There is no shortage of realtors, and people often go into it and then end up disappointed because it’s not as easy tod get rich quick as they thought.

[Anonymous]

A better career is combining realtor with developer or contractor.

[Anonymous]

Does he want to be an actual realtor or work in the real estate field? If he wants to be an actual realtor, Id recommend commercial/industrial/land sales over residential. He also needs a very good grasp of finance and how complex deals come to fruition. Someone who knows the $$ side of things has an absolute advantage in commercial vs someone who does not.

If he just wants to work re-adjacent, there are companies like CoStar that are always hiring.

[Anonymous]

Most of the top senior realtors have created teams to mentor the mid-newbie realtors. You’ve already said he’s smart— great. High EQ is helpful. Charming and a killer capsule wardrobe spanning casual to sports jacket and dress pants. Regions that defy market odds are considered bubbles— The Hamptons, NYC, Boston proper, DC, LA, San Fran… If he’s college bound, he should consider applying to schools offering undergrad degrees in Hospitality Management usually combined with concentrations in Real Estate Development. Ex: Cornell Nolan, Boston University, NYU, UGA, USD, Georgetown. Here’s a link.

https://www.usnews.com/best-colleges/rankings/business-real-estate

[Anonymous]

The average realtor makes very little money. The barriers to entry are low, but you have to pay for all your own expenses as well as pay a fee to your overall broker.

Also, while realtors care about high prices (and the commission applied to those prices), they really care more about volume. Right now, and for the foreseeable future, the number of transactions is very low.

Finally, there will be a bit of turmoil in the field since the 6% commission is in theory going to decline based on recent court rulings.

[Anonymous]

OP have them major in business, econ or finance in college.

Here is why if they want to make actual money they must understand. the business ie financials

Also this way they can pivot if necessary.

To just be a "realtor" no

[Anonymous]

Anonymous wrote:Most of the top senior realtors have created teams to mentor the mid-newbie realtors. You’ve already said he’s smart— great. High EQ is helpful. Charming and a killer capsule wardrobe spanning casual to sports jacket and dress pants. Regions that defy market odds are considered bubbles— The Hamptons, NYC, Boston proper, DC, LA, San Fran… If he’s college bound, he should consider applying to schools offering undergrad degrees in Hospitality Management usually combined with concentrations in Real Estate Development. Ex: Cornell Nolan, Boston University, NYU, UGA, USD, Georgetown. Here’s a link.

https://www.usnews.com/best-colleges/rankings/business-real-estate

Thank you! This is very helpful.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Go commercial. there is some serious money to be made.

https://www.nytimes.com/2024/02/11/nyregion/ny-real-estate-bob-knakal.html

commercial RE is dying.

She should not do any sort of real estate.

Real estate is headed the direction of travel agent as a career.