Here is an article I just ran into:
Well, before you quit your day job to join their ranks, take a deep breath.
“Everyone thinks it’s an easy way to make a living, but it’s not,” said Pamela O’Connor of RELO/Leading Real Estate Companies of the World, the largest network of independent real estate firms in the United States. “People don’t realize how much effort goes into it.”
“They come into the field with rose-colored glasses,” said Daryl Jesperson, CEO of RE/Max International, a franchise system with more than 110,000 sales associates throughout the world. “But most agents do not start out of the block successful.”
One reason: the business has become very complicated. There are many more financing options, for example, and additional ways, such as the Internet, to market properties.
Legal protections for both buyers and sellers have also become more arduous. There’s a lot more for a new real estate agent to learn. And with prices sky-high, both buyers and sellers are nervous about trusting their transactions to greenhorns.
Jesperson said, “It used to be common practice to give the business to Aunt Sally or Uncle Don. Let them make some money. Now, it’s ‘Wait a minute! I’m buying a million dollar home in Southern California. Do I want to trust it to Uncle Don?'”
Here is the rest of the article