Trying to Decide if I Should Take the Plunge.

Undecided · 11-02-2009, 09:46 PM

After many years of working under my family's motto of working hard for the other guy I have come to a significant crossroads in my life.

I am attempting to look at two different career paths to decide which would be better for me individually. The decision has come down to getting into the real estate business or the insurance business. I have chosen these two because I would like to something that I can build myself that will lead to long lasting earnings.

The idea of creating something has always been very important to me. Plus I would like to work in a field that within 3 to 5 years I would be able to ultimately make my schedule according to me and my family not around my work so to speak.

My trouble deciding is that while with real estate you make a larger amount upfront you have to continually sale to make the commission where with insurance you have the opportunity to gain residuals and that is money that you maintain instead of create. I would like some advice possibly from anyone that has been involved in both industries and their pro's and con's to both. Sorry for the long post thank you.

For added information I am located roughly an hour north of Austin Tx in Temple.

healthagent · 11-02-2009, 09:50 PM

If you're looking for family time and more normal hours it'll be insurance. Real estate is a lot of nights and weekends. Plus I'm a huge fan of renewal income.

souldeux · 11-02-2009, 09:52 PM

Originally Posted by Undecided

After many years of working under my family's motto of working hard for the other guy I have come to a significant crossroads in my life.

I am attempting to look at two different career paths to decide which would be better for me individually. The decision has come down to getting into the real estate business or the insurance business. I have chosen these two because I would like to something that I can build myself that will lead to long lasting earnings.

The idea of creating something has always been very important to me. Plus I would like to work in a field that within 3 to 5 years I would be able to ultimately make my schedule according to me and my family not around my work so to speak.

My trouble deciding is that while with real estate you make a larger amount upfront you have to continually sale to make the commission where with insurance you have the opportunity to gain residuals and that is money that you maintain instead of create. I would like some advice possibly from anyone that has been involved in both industries and their pro's and con's to both. Sorry for the long post thank you.

For added information I am located roughly an hour north of Austin Tx in Temple.

I'm an insurance agent. My fiancee is a real estate agent.

Insurance by a mile. Both industries have their pros, and both have their cons. I couldn't point to one specific thing in either career path that would really tip me over the edge one way or another - I just know that I like my job a hell of a lot more than she likes hers.

healthagent · 11-02-2009, 09:55 PM

Dragging people around to 15 different houses only to find out their "prequalification" letter doesn't end up with financing? No thanks.

souldeux · 11-02-2009, 09:58 PM

Originally Posted by healthagent

Dragging people around to 15 different houses only to find out their "prequalification" letter doesn't end up with financing? No thanks.

Tiffany has one client right now that she's walked into over 200 different houses. Two hundred. That guy is nucking futs.

healthagent · 11-02-2009, 10:02 PM

The truth is real esate is for bored wives of rich husbands. Starting out is extremely brutal. You think the insurance failure rate is high? The failure rate for real estate is stunning.
- - - - - - - - - - - - - - - - - -
The truth is real esate is for bored wives of rich husbands. Starting out is extremely brutal. You think the insurance failure rate is high? The failure rate foe real estate is stunning.
- - - - - - - - - - - - - - - - - -

Originally Posted by souldeux

Tiffany has one client right now that she's walked into over 200 different houses. Two hundred. That guy is nucking futs.

wow. Yeah, the wife "doesn't like the tile" in that one house and the other is great but the layout of the kithen isn't quite right. I'd rather stab myself then sell real estate. I think after the third house I'd be like "ok retard, listen..."

Undecided · 11-02-2009, 10:02 PM

Thank you both for such quick replies to my post. I hope to receive many more and from looking on this board I know that I will have plenty of individuals to guide me and help me if I choose this path.

From what I have read I believe that going independant would be most preferred seeing how I would like to have the freedom to give my clients that best that can be offered rather than being locked into certain products.

At this point in my life as I said in my previous post I am in a transition so doing real estate or insurance would not be possible to do full time until I had a client base, in other words I would not have the money to support myself and family for more than a month or so until I was hurting. Is it possible to get started in insurance on a part time basis to get the ball rolling so to speak. Working during the day is not an issue I currently work night shifts two during the week and two on the weekends so I have plenty of days I could work during the week.

Also from looking at post on the board the information for becoming independant in expansive and I would like to know is it as difficult as it appears on the board to go independant?

maksim · 11-02-2009, 10:18 PM

Insurance b y a mile. not as sexy, but much more rewarding.

souldeux · 11-02-2009, 10:21 PM

Originally Posted by healthagent

wow. Yeah, the wife "doesn't like the tile" in that one house and the other is great but the layout of the kithen isn't quite right. I'd rather stab myself then sell real estate. I think after the third house I'd be like "ok retard, listen..."

"You are looking for something that doesn't exist. We can drive up Lollipop Lane, turn left at Unicorn Avenue and drive straight into your own personal heaven and your dream house still won't be there. And if it was, you couldn't afford it."

This thread is making me really appreciate the fact that I just have to re-explain how an HSA works once a month. I would never become a real-estate agent if I had, or wanted to have, a family. The time sink is just too great.

healthagent · 11-02-2009, 10:26 PM

One of my friends is a real estate agent. Anytime I think my job sucks I call her up. After that I'm walking on air after hearing about how her $8k commission fell apart the day od closing....after 6 months of work.
- - - - - - - - - - - - - - - - - -
And pardon my spelling - on the iPhone

DS4 · 11-02-2009, 10:29 PM

Real Estate or Insurance?
If you took 3 months off in real estate, how much money do you think you would make? Zero!
As mentioned earlier, I too am a big fan of renewal income.

CHUMPS FROM OXFORD · 11-02-2009, 10:32 PM

Neither. If I had to do it over again, I would be making a million bucks per year by now.

Undecided · 11-02-2009, 10:35 PM

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

WinoBlues · 11-02-2009, 10:38 PM

My son just bought his first home. The agent has been working with them for about 3-4 months. They have put in tons of bids. Finally got a short sale.

The thing is, being his first house. his budget was only $100,000 - $125,000. They closed at $113,500. This agent works for a Century 21 office so I am sure by the time the listing agent and the broker get theirs she did not end up with more than a few thousand dollars. I felt bad for her.

Almost wanted to kick her a few buck for working so hard for my boy. ~almost~ Now I am quoting her son's Life Insurance.

Originally Posted by souldeux

Tiffany has one client right now that she's walked into over 200 different houses. Two hundred. That guy is nucking futs.

healthagent · 11-02-2009, 10:53 PM

Try showing 30 homes
Then they choose another agent.

tozzo51 · 11-02-2009, 11:00 PM

Was both an insurance person and realtor. loved the realtor but when the market dries up so does your bank account. insurance career gets my vote.

GAHEALTH · 11-03-2009, 12:27 AM

Originally Posted by healthagent

Dragging people around to 15 different houses only to find out their "prequalification" letter doesn't end up with financing? No thanks.

\

I really can't undsterstand why ANYONE would consider being a new RE agent right now. Banks are making it tough to get funding for deals, many people are facing foreclosure, builders are going belly up. Just can't see much of an immediate future in the RE agent space.

scotte · 11-03-2009, 01:29 AM

The lenders keep tightening their lending guide lines. It will be awhile before real estate picks up.

DS4 · 11-03-2009, 01:41 AM

Lenders are now requiring a down payment, proof of income, and, a decent credit score. What is the world coming to???

Pangaea · 11-03-2009, 06:33 AM

Originally Posted by DS4

Lenders are now requiring a down payment, proof of income, and, a decent credit score. What is the world coming to???

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