REAL ESTATE CAREER

Frequently Asked Questions

1. HOW DO I OBTAIN A STATE REAL ESTATE LICENSE?

Schooling – You must pass a state approved course required by the local governing Real Estate Commission. The cost for the pre-licensing course varies from $295 to $585 (including textbooks) depending on where you choose to take the course. The course consists of 54 classroom hours and is available as day, evening, and combination evening/weekend classes.

License – After you pass the fundamentals of real estate course and are issued a completion certificate, you must pass the state licensing examination, which is offered frequently at a nominal cost (approximately $59). The test is given on computer and is graded immediately.

2. WHAT ARE THE APPROXIMATE START-UP AND MONTHLY COSTS FOR ME TO GET INTO REAL ESTATE?

The initial start-up costs are very low compared to getting into many other businesses. Expenses consist primarily of certain materials you will need, professional licensing and association membership fees, and charges to join the Multiple Listing Service. The approximate breakdown is as follows:

Activation of state Real Estate License
(Two year period, payable immediately) $35.00 (paid to IN Real Estate Commission)
Board of Realtors Membership Dues
(Pro-rated based on your application date) $385.00 (paid to local Board of Realtors)
Application fee $300.00 (paid to local Board of Realtors)
1,000 Business Cards (standard) $36.95 (initial set paid by Company)
Name Badge $20.00 (initial set paid by Company)
Real Estate Calculator HP10 $29.00 (available locally, cost varies)
Listing Presentation Manual $20.00 (provided by Company)
**All prices are approximate and subject to change**

Since the company pays for virtually all office and administrative expenses, the advertising and promotion costs, your monthly business expenses are low. You will be responsible for your MLS Board dues (Lafayette = $41/White County = $25), gas and auto expenses, and other small costs. We recommend you have three to four months of living expenses in reserve in order to begin the business and cover yourself financially until your first closing.



3. HOW WILL I GET PAID?

While there is no salary paid, the company receives a brokerage fee that is a percentage of the selling price of any property you sell, paid upon completion of the transaction. You will receive as personal income a percentage of all brokerage fees you generate. The company will provide you with a copy of its compensation plan. The commission earned by the Sales-Partner per sale closed in our company is approximately $2500 based on our office average sales price. Your own average may vary.

4. HOW MUCH MONEY CAN I EXPECT TO EARN?

There is unlimited earning potential based on your commitment, determination, and hard work. First year associates should average about one transaction per month after completing their training period. Many successful experienced associates average two or more transactions per month, with top associates in the area earning well over $50,000 per year.

5. WHAT KIND OF SALES TRAINING DO YOU OFFER AND WHAT IS THE COST?

After affiliating with our company, we provide you the best training available in the real estate area. Initial training begins with an in-office orientation program, followed by the Advantage Training course, consisting of one week of classroom and workshop skill development in prospecting and sales skills training. Then, the week long Technical Skills instruction course in buyer and seller agency and hands on instruction and practice in writing listing and sales contracts. This is followed by the AIM coaching program implemented individually at the office by the Broker. In addition you will be scheduled to attend training classes in using the Multiple Listing Service and the local Board of Realtors®.

After your initial training, the company offers ongoing workshop training programs to increase your skill level including personal business planning. Additional education programs are also provided through seminars and professional designation programs. Most initial programs are provided at no cost by the company (with some being reimbursed when certain objectives are met). After initial training the Sales-Partner often invests personally in outside seminars and programs they select.

6. IS PREVIOUS SALES EXPERIENCE REQUIRED?

Sales experience of any kind is always helpful, but certainly not required. In fact, some of our most successful associates come from many varied backgrounds, including medical, teaching, military, housewives, legal, stock brokerage, and many others as well as sales in other industries.

7. WHAT ARE THE AVERAGE WORK HOURS?

Your hours will be flexible and you make your own schedules based partially on your customers and clients’ needs. However, you should commit to a minimum 40 hours a week, understanding that some evening and weekend work is required.



8. WHAT DOES THE COMPANY OFFER ME IN MARKETING TOOLS AND ADVERTISING TO HELP ME SUCCEED?

We offer our Sales-Partners the most up-to-date market tested materials and marketing techniques available in the country through our affiliation with GMAC Real Estate, an internationally known and respected leader in real estate. GMAC Real Estate’s Premier Service™ coupled with outstanding presentation systems for buyers and sellers, the Elegant Homes upper tier marketing program, and the suite of Home Services provides Sales-Partners great tools to work with. These tools, combined with special advertising promotions, national advertising on television, radio and newspapers, top local advertising, and a wealth of professionally-prepared prospecting handouts and materials are available to help our Sales-Partners in their successful real estate career give our team a competitive edge. The enclosed brochure explains some of these tools.

9. WHAT KIND OF SUPERVISION AND HELP WILL I RECEIVE?

Each associate works directly under the supervision of a full-time, trained, experienced Managing Broker, who can assist the Sales-Partner in all aspects of the real estate business. Upon completion of the initial training, all new Sales-Partners meet with the Broker one-on-one and in small groups to insure that they are focused on success. The Broker assists in helping the Sales-Partner select segments o the real estate business they might choose to specialize in, and facilitates their involvement in such areas as new homes marketing, upper tier properties, land and commercial. In addition the office has a great staff of clerical and administrative people who are there to help and support you as a Sales-Partner.

10. CAN I WORK IN REAL ESTATE PART-TIME?

Based on our many years of experience, we find that Sales-Partners who attempt to engage in real estate while working another job do not have the adequate time for the prospecting and professional activities required for success in real estate. Typically we have only full-time professional Sales-Partners. It is often possible to coordinate a transition plan to obtain the needed license and training before giving up your present employment. Our company also offers a referral company for individuals who want to obtain a real estate license now with the intent of becoming active in the future. We can discuss unusual circumstances individually.