Belt Auction

realtor or real estate agent still paying for classes after obtaining license?

well my wife is a real estate agent with century 21 NJ, she just started part time (yeah i know its a bad time to be an agent) but my issue is that every time i turn around there's a fee for some class. 100 for this class 200 for that class. Has any experienced Realtors run into this or is it just century21? is it a scam to make money in a down market? Or is this simply the way it is? let me know thx

Public Comments

1. Firstly, it is very difficult to be successful as a Realtor part time in any market, let alone the current one. There are many fees involved for continuing education, E&O insurance, licensing, exams, MLS dues, designator certification, business cards, website, desk fees or admin fees for the brokerage (which pays you wife's share of advertising, office overhead, administrative costs.) Especially if your wife is not knowledgable or experienced in real estate it is a good idea to get all the training she can. Think of it this way: a Realtor is an independent business person and in setting up a business there are numerous up front costs. Don't expect to see a profit any time soon, unless she decides to work long hours and is willing to be available for open houses, floor time and spending a lot of time prospecting.
2. Like in any profession, one has to continue learning, just to stay up-to-date. It doesn't matter whether it's a boom or a bust - the costs of learning are there. It's just not as noticeable when there's a boom. Most people, when they start, have barely enough knowledge to handle a purchase agreement (and a few of the ethics they are supposed to live by). To get ahead, one needs a lot more knowledge than the basics. Century 21 are noted for keeping their people up-to-date, so it should not have come as a surprise that they have regular classes for their people. And classes cost money to run. Some agencies will pay for the classes, but that's usually in boom times, when (surprisingly) there are fewer agents who need the training. In bust times, like now, there are more people who figure that real estate is easy, and more than half of them drop out, so, the companies often charge for the training, just to almost break even. So, it's not a scam. It's just survival in bad times. BTW, does your wife have a list of people who are likely to buy in the next six months, the next year, and within the next five years? If not, then she's in for a very tough time!