low income single mom wants to become realtor
It is possible as a single mom of one with very low income to become realtor in New Orleans?
Hi Natori –
Great question! Real estate has a very low barrier to entry, meaning that it is an incredibly accessible profession for almost anyone. However, you want to examine the process of becoming an agent to see if you can afford the agent training or if there are brokerages in your area that sponsor agents. Here is more information for you about how to become an agent. The wonderful thing about real estate, especially in larger cities, is the ability to scale your income. However, there are often some start up costs involved to be mindful of – such as the cost of exam, licensure, etc. While the flexibility can’t be beat if you’re a single mom, every agent effectively is starting their own business from the ground up. So be prepared to dedicate the time if you want to see rewards, and we wish you the best of luck if you decide to take that path!
I totally agree with the previous response. There’s a lot of legwork, networking and startup costs that come with becoming a real estate agent. I’m not sure exactly what the process is for you in New Orleans, but the city I live in (Edmonton, AB, Canada), to take the training it’s about $6,000, if you fail a test it costs $150 to retake. Then every year you need to “renew” your license and go through online tests which usually cost around $600.
In addition to what the previous response said, remember that you’ll also need to pay for marketing, most likely have knowledge of social media or get trained on how to use it strategically, etc. And yes, while it is quite flexible as you can make your own hours, you have to take into consideration that most people want to look at houses (I’m guessing you want to do residential real estate) and have meetings during the evenings. So while it might sound ideal, there’s a lot of actual back-end work and time commitment involved.