Trying to Decide if I Should Take the Plunge.

djs · 11-03-2009, 10:46 AM

Originally Posted by Pangaea

It's crazy isn't it? They actually want borrowers to show that they're credit worthy.

Worse - they have the audacity to think borrowers should repay the loan!

Funny think is, I watched MANY realtors become insurance agents over the last few years. Most quickly quit the insurance business as well. With the real estate market the way it is, they suddenly got 'religion' on residual income. Unfortunately, they didn't realize it takes time to build that income.

Most realtors don't work much. This matches with most realtors don't make much. Those who work hard, to this day, seem to be doing okay. Face it, there aren't as many around as there used to be. Deals do take a lot longer. They don't waste time until the person is credit approved. Everything is a shortsale, meaning everything is negotiated and then negotiated again.

Try being a mortgage broker in todays environment. OUCH!

Dan

arnguy · 11-03-2009, 12:11 PM

Originally Posted by Undecided

Neither? So what exactly would you be donig to make so much money?

Ther way Chumps would have done that is to have started his association many moons ago and charge only $1.00 a year for membership in his exclusive discount association. That way he would have accumulated at least one million members----at one dollary a year he would be making a million dollars a year. BTW he probably would have two million members by now. Do the math!

Jerbond · 11-03-2009, 12:54 PM

Since the economy took a nose dive into the toilet I have seen an influx- no an immersion of everyone trying to become an insurance agent. Realtors, mortgage brokers, investment and securities types. Runs the gambit. But those get rich quick folks will burn out quickly due to the time frame/factor that it takes to get that residual income. Insurance is not a get rick quick scheme that those types are in it for. But if you build up your clientele, and can service them, you will do better than them in the long run. I hate those guys that run in and grab $100 and lose the customer. I would raather get $75 from that person per year, for the rest of my life. Now multiply that by 1000 customers.... I know a guy that works out of his house. He plays golf 8 months a year and is still making over $250K per year. Albeit he has been doing insurance for 20 years, but that's the trade off. I don't even like golf- but I like his lifestyle!!!!!