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Learning, Sharing, and Teaching => Ask a Mustachian => Topic started by: Tyson on June 23, 2017, 08:10:39 PM

Title: DW Becoming a Real Estate Agent - what do we need to know?
Post by: Tyson on June 23, 2017, 08:10:39 PM

OK, my wife passed her exams and is going to become a real estate agent.  I figure there must be some MMMers with experience in this area.  How can we be smart with the $$ once she starts making sales?  And any other advice for an agent just starting out?

Title: Re: DW Becoming a Real Estate Agent - what do we need to know?
Post by: frugaliknowit on June 26, 2017, 11:18:20 AM

The biggest challenge for the majority of new agents is making enough sales so that you actually make some money to be smart with...A very large percentage of new agents are gone within a year.  Being an RE agent isn't so much about real estate, it is about selling successfully.

You and your wife need a business plan with specific goals and how you are going to achieve them (i.e. have meetings with X number of prospective sellers (and a much smaller number of buyers) per week/month).  Good luck!!

Don't forget to put money away for taxes once she starts making a profit ("both sides" of Social Security...).