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Old 01-17-2019, 01:30 PM   #31
renxianqiclone
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I appreciate the long-winded response. He was a good student when he tried, and I'm willing to help him study and test him. He's a busybody and can't sit in one place for more than 30 seconds. He enjoys running around all the time so I think hes got the personality and mindset of grinding/showing homes. I didn't think about all the other fees and stuff once he's ready--but I'm more than willing to pay for everything. He can pay me back when he sells his first home -- kidding -- if he gets to the point where he's actually selling homes than my my job is done and my investment paid off. There's a bunch of stupid shit I can spend my money on, but helping my little brother start a career isn't one one of them. If he pursues another form of income then that's fine, at least I can relax a bit knowing he has a potential avenue of income regardless.
He's going to be bored out of his mind doing open houses in the fall and winter.
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Old 01-17-2019, 05:42 PM   #32
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Salam Al Le Kum!

I went through this disillusioning route before so here's my insights:

Since my career in education wasn't making enough money, I ventured into real estate. A colleague at work was also teaching Real Estate courses and I audited a few of them. She gave me copies of the textbooks and lots of practice tests which I feel are the most important part for anyone passing the test. Before taking the licencing test, your brother will need to have completed a certain amount of courses and/or lectures. Having done that, he will then need to register online to take the dreaded test in Oakland.

I sampled a few of my fellow classmates in the real estate classes (sample size <20) and here's an unscientific correlation I found- If your brother was a straight A student back in high school, the licencing test is pretty easy to study for and pass on his first try. If he was an A-B student, he might have to try 2-3 times before passing because the trick questions will keep him second guessing, especially the ones asking about ethics. Memorizing specific dates for paying property taxes and specific laws about discrimarion is imperative. If he was a C average student, he'll probably eventually pass by the 5th or 6th attempt.

The test is still being held in Oakland and parking there is a PITA. Tell him to bring his own lunch because the food at the cafeteria sucks. Travel lightly because the test proctors won't let him take anything with him into the testing room. Personal lockers will be provided but they are tiny and don't put anything valuable in those lockers because thefts happen. It's Oakland after all.

Should he pass, his mail box is going to be inundated with dozens of solicitations from realtors all over California to join their team. But signing up with a firm is even more arduous than preparing for and taking the test! The initial sign up fees with them right away are cost prohibitive. Like hundreds to thousands of dollars prohibitive. Getting MLS access, buying the wardrobe to achieve the "professional look", Staples runs to print stationary and other forms, paying for shitty buggy software... those minor business expenses add up quickly all before he even makes his first successful deal. He's also going to start at the bottom of the totem pole, everyone in the firm will treat him like a peon and view him as a potential rival out to cut him/her out of their game. If he is lucky enough to find a mentor however, his chances of surviving will increase exponentially. Attractive Asian women seem to have an uncanny ability to easily get mentored in this industry while for guys, it's next to impossible.

This industry is merciless and isn't for the faint of heart. Even though I was taught in classes to have the highest of ethics and be an honest "agent" for my client... Even though 50% of the questions for the license is about ethics and ethic violations... in the real world of this business, everyone who is good at this game is a lying piece of shit. The management will do everything and anything in their power to make money, and will instruct their employees accordingly. They embezzle, lie, cheat, scam, misinform both buyers and sellers and the best ones do it in a way to finagle their way out of legal trouble even when they get caught.

Needless to say, I didn't have what it takes to survive in this industry and didn't last long. Nevertheless, I did learn a lot of valuable information and this certainly helps in the long run- especially when it comes to buying property and renting it. If I had to do it over again, I still would because the experience was certainly enlightening and taught me a lot about my personal character. I'd like to say I'm now wiser when dealing with realtors since I know their bullshiting tactics and tricks.

If your brother is really sociable with high charisma, I advise to encourage your brother to do it. But if he has very high ethical standards, he won't last very long.

Sorry for this long winded reply. :-P
You mind giving any details, or even hypothetical examples, on the cheating, scamming, embezzling stuff you had first hand knowledge of?

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Originally Posted by DTM74 View Post
My wife always had her RE license and never really did anything with it. She finally jumped in and acted as her friend's realtor when her friend bought a new house/property. Subsequently, she was picked up by a local country property group. A couple from Berkeley tapped her shoulder (and not the hot shot realtor in the group) to act as their realtor because in her bio my wife said we have rescue animals. So you never know.
Doesn't one have to have a brokers license to work for themselves? Did she have that? Just curious how she was able to act as her friend's agent on her own, unless she did have a brokers license.

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Your wife is a rare gem and an outlier. That firm was probably pissed that she took business in Berkeley away from them and wanted her to join instead of being their competition. They also get to bleed her $ for signup fees and get 1-2% of her commission for any sales she makes. This business isn't for compassionate people in the long run. I'm sure by now she's been pressured to compromise her morals by her superiors on various occasions.
I kinda thought it was quite a bit higher than that, especially for someone new to the business.
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Old 01-17-2019, 05:51 PM   #33
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How lucrative is the future of this business when the internet has pretty much cut out the middleman. Redfin and similar sites must have already cut into profits significantly. This isn't a field I'd try to pursue.
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Old 01-17-2019, 06:25 PM   #34
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Even though 50% of the questions for the license is about ethics and ethic violations... in the real world of this business, everyone who is good at this game is a lying piece of shit. The management will do everything and anything in their power to make money, and will instruct their employees accordingly. They embezzle, lie, cheat, scam, misinform both buyers and sellers and the best ones do it in a way to finagle their way out of legal trouble even when they get caught.

Needless to say, I didn't have what it takes to survive in this industry and didn't last long. Nevertheless, I did learn a lot of valuable information and this certainly helps in the long run- especially when it comes to buying property and renting it. If I had to do it over again, I still would because the experience was certainly enlightening and taught me a lot about my personal character. I'd like to say I'm now wiser when dealing with realtors since I know their bullshiting tactics and tricks.

If your brother is really sociable with high charisma, I advise to encourage your brother to do it. But if he has very high ethical standards, he won't last very long.

Sorry for this long winded reply. :-P
lol there is something called real estate law right, and lawyers practicing this and enforcing it, also the caldre will pull your license in a heartbeat for any random given reason.

This is a special story, not every brokerage is out there to "embezzle, lie, cheat, scam, misinform both buyers and sellers and the best ones do it in a way to finagle their way out of legal trouble even when they get caught" Are you working with some ghetto brokerage in east oakland or something?????? This is comical...

And go google wtf a escrow company does in a re transaction.
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Old 01-17-2019, 06:28 PM   #35
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Also my families been in re for 15+ years, its a business, not sure wtf slimeball brokerage this guys outlook came from.
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Old 01-17-2019, 07:12 PM   #36
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Doesn't one have to have a brokers license to work for themselves? Did she have that? Just curious how she was able to act as her friend's agent on her own, unless she did have a brokers license.
.
Oops. I'm fucked up. She doesnt have her brokers license. She joined a group just prior to doing the deal. I misspoke. Yes, you are correct. You do need a broker's license to go on your own.
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Old 01-18-2019, 07:11 AM   #37
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Based on my experiences in real estate as a consumer, I'll say this... the industry as a whole is a fucking racket and is full... FULL of scumbags, liars and various ne'r do wells. From RE agents to brokers to inspectors. Massive shitbags. I can't say they're ALL bad, but I would say a large majority have a special little place in hell lined up.

I imagine it is difficult to be successful in the industry and keep your sanity.

I dunno... personally, I would never recommend any family member of mine to go into real estate.
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Old 01-18-2019, 08:07 PM   #38
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Old 01-18-2019, 09:01 PM   #39
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people will always need places to live.

People will always be buying and selling properties.

up market, down market, things will always move.

Zillow and redfin et al make selling easier.
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Old 01-20-2019, 11:30 AM   #40
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Based on my experiences in real estate as a consumer, I'll say this... the industry as a whole is a fucking racket and is full... FULL of scumbags, liars and various ne'r do wells. From RE agents to brokers to inspectors. Massive shitbags. I can't say they're ALL bad, but I would say a large majority have a special little place in hell lined up.

I imagine it is difficult to be successful in the industry and keep your sanity.

I dunno... personally, I would never recommend any family member of mine to go into real estate.
And guaranteed those re agents did not keep re as their profession.

Do you really think referrals work off of negative feedback lol
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Old 01-20-2019, 01:56 PM   #41
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And guaranteed those re agents did not keep re as their profession.

Do you really think referrals work off of negative feedback lol
Uhhh... they were not newbies, Iíll tell you that much.
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Old 01-20-2019, 02:35 PM   #42
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Uhhh... they were not newbies, Iíll tell you that much.
Lol and where are they now, obviously not successful at the career they chose, I wonder what they did wrong vs those who are honest and successful at re?
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Old 01-20-2019, 06:16 PM   #43
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Lol and where are they now, obviously not successful at the career they chose, I wonder what they did wrong vs those who are honest and successful at re?
It's just like any other profession. There will always be a few bad actors in any profession.
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Old 01-20-2019, 07:28 PM   #44
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Looks like they are still in business and I imagine doing quite well. They were successful and highly rated when I used them. I’ve had several real estate experiences and I treat them like I treat car salesmen... like they don’t have feelings and that they are trying to get one over on you. It’s worked out well for me on both fronts but I trust them equally, ie, not at all.

Sorry, chuckle all you want, you will not change my mind about the real estate industry as a whole.
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Old 01-20-2019, 09:07 PM   #45
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Looks like they are still in business and I imagine doing quite well. They were successful and highly rated when I used them. Iíve had several real estate experiences and I treat them like I treat car salesmen... like they donít have feelings and that they are trying to get one over on you. Itís worked out well for me on both fronts but I trust them equally, ie, not at all.

Sorry, chuckle all you want, you will not change my mind about the real estate industry as a whole.
I was naive when I went into this industry and severely dissillusioned when I left. Now my sentiments mirror yours. The conversations I've heard behind closed doors is even more sleazy and sinister than Hollywood movies like Wolf Of Wall Street. The really good ones that stroke your ego with honeyed words are the ones I truly loathe. The whole concept of fiduciary duty is non-existent in that industry.

Last edited by renxianqiclone; 01-20-2019 at 09:09 PM..
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