Need advice. I currently work full-time in HR. I'm planning on retiring soon at 57.

Need advice. I currently work full-time in HR. I'm planning on retiring soon at 57. I would like to work part-time. I've always been interested in Real Estate. I've done Sales before but not that area. Other than taking the required courses & the exam, I'm not sure what else I need to do or watch out for. I live in Tampa area so I worry that the industry is already overloaded with agents. Any thoughts or advice is greatly appreciated.

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14 Comments

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  1. Alexis Gladstone

    While I'm not in real estate I've seen many friends take the leap. Here is what I know those who were more successful did.

    - Like anything else, it's about your network. Start cultivating it now as it takes time.

    - Do your research as to which firm is right for you to join. Some have better training and support than others. I've seen friends jump for one to another.

    - Once in the firm, find the successful agent will help you by letting you run their open houses and even do some showings. It's a great way to learn.

    I'm sure there is more that others may be able to add. It's a long build up so patience is key.

  2. Anonymous

    Real Estate can potentially be very lucrative once you have established your business. However, it could take some long hours to establish yourself and make your first few sales before you actually feel like you're making money. As an independent contractor, you have the freedom to take a week's vacation as you please, but may also have to step out of date night dinner to take a crucial call from a client regarding an offer or send e-mails at 10:00pm. Your HR experience should also bring you valuable people skills. For example, a client is determined that they won't sell their below X and you have to determine how to tactfully explain that what they want and what the market will bear don't align. Those are some thoughts for you. Good luck.

  3. maria rose

    You really need to evaluate the potential options for the specific geographic market, you intend to retire in. It’s one thing to say, you are retiring to a specific location and another thing to find a way to successfully launch a new enterprise business as a realtor and earn enough income to subsidize your lifestyle.

  4. Anonymous

    I’ve been seeing this one guy on Facebook who lives in Florida and he says that the market for RE has essentially tanked there. Too many listings and not enough buyers. Some of the issues are the enormous cost of flood insurance, the current economy, and the unsettling weather conditions.

    I dabbled in RE some years ago and echo what others are saying that it is inherently a tough profession during the best of times. The best and most experienced agents are already out there and you will be competing with them.

    It’s personally not a road I’d recommend unless you are absolutely not counting on this as necessary income.

  5. Anonymous

    I would complete and gain your license studies then find an admin job in a large RE office so you can learn the ropes. Accept every task and special project. Begin shadowing the agents and assist with open houses, etc so you can show value and learn. Remember, you are starting from scratch. You need hands on front line experience and understanding. That is how you get into that business.

    It's all in preparation of getting to the next level.

  6. Diane Oswald

    Are you ready to work evenings and weekends and commissions only?

  7. Anonymous

    Unfortunately, Real Estate is not really a part time job unless you are a well establishedagent or don'treallyneed the income. I know people who work years trying to build the network and get listings.

  8. Cynthia Maloney

    At one point recently there were more agents than properties for sale in Tampa. But there is room for more diligent, smart and ethical agents. It’s lots of fun but also demanding. If you’re interested, I’d say go for it.

  9. Olivia Johnson

    Hi there!

    Love that you are thinking ahead. Real estate is near and dear to my heart so I may be biased :) but I will do my best to be impartial.

    Below are a few initial steps that I would follow:

    I would evaluate the career choice and reasonings behind wanting to go this direction. Are you open to the shift in schedule that it may take and in some case, at least up front the lead time it may take before things kick off.

    Find a current realtor or agent that appears to have the career you would want. Reach out and ask for a short chat. Pick their brain a bit on how they started out, how they manage the ebbs and flows and any advice they would have. This could also be done with any agent(s) that you run into.

    Research and identify an agency that you would want to work with. You may have a few options. Set up some time to talk with the Broker. You may even be able to have them sponsor you and pay for your course in order to get you on board.

    I would actually consider looking into this now, while you are working full-time. You may be able to get a few things established so that when you are ready to make the move you're not starting completely from scratch on day one.

    I hope this was helpful. Real estate can be a really fulfilling career. Yes you will hear many who say it's a bad time or it's a good time. The truth is it's a very cyclical market and at some point it will be good and at some point it will be bad so if you really want to go for it, just jump! And just be prepared to pivot with the twist and turns of the market.

    Coach Olivia

  10. Anonymous

    Wishing you the best of luck in your retirement!

    I have a couple of friends and family who work in the Real Estate field in some capacity and from their feedback it’s not really the type of career you can jump in to brand new part time.

    Most agents spend years building their client base to get to a point that they feel they can switch to part time due to enough repeat clients looking to buy/sell homes with the same agent they used in the past.

    With the housing market and interest rates in the current state most buyers/sellers are looking for an agent with in depth knowledge and experience to guide them in their purchase.

    I am not sure this would be a good retirement plan for somebody brand new to the industry.

    As an alternative, how about something more along the lines of interior design? Is that something you might be interested in?

    There are many courses you could take and could start to build a small portfolio of ideas and maybe help some friends and family to get some referrals and recommendations.

  11. Anonymous

    Real estate seems very oversaturated right now. I would say to only go ahead and pursue this.If you are not going to be dependent on the income

  12. Anonymous

    Definitely not a good industry to get into unless you do not need the money to live. I have had several friends try "Real Estate" and spend all the money on the courses, exam, etc. only to end up bankrupt because they could not pay their bills. One friend, in particular, was an agent for 2 years and sold only one house during that time. I don't know about the Tampa area but in our area Real Estate agents are a dime a dozen and it takes YEARS to get established.

  13. Sheila

    Reach out to your local real estate association. I'm sure they can educate you on the market and recommend an agency in your area to align your license with.

  14. siobhan taylor

    I think you are getting out at the right time. I predict a period of confusion while the pros and cons of ATS are thrashed out and I think it will divide recruiters.

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