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Posted: 5/9/2003 10:43:26 AM EST
I have one more week of school before I can send off my application to the State. Looks like a interesting (and lucrative) career field. Anyone in the biz have a few words of wisdom for a newbie? echo(no I wont hit your number)6
Link Posted: 5/9/2003 11:47:04 AM EST
My wife is a CREA. Seems to be a bit of a strange profession as there seems to be very few "larger" firms that offer any bennies. She is strictly paid 55% of the gross fee; and is considered an independant contractor. You pay all taxes and expenses. ( If you stick with it, go out on your own ASAP.) Have a good computer and digital camera, although the camera will only last a year or so. Drive a Toyota because you will put on lots of miles each year. When it rains, it pours; like now. She could work 7 days a week now, because it's been so busy with low refinancing rates and a generally strong RE market here in CT. A few years back when it was slow she would only get 3-5 jobs a week, it's almost that a day now. After all is said and done she grossed about 75K last year and probably had 15K expenses, and pay quarterlies of around 4K. I expect it to slow down as interest rates go up probably end of 03 or into 04.
Link Posted: 5/9/2003 12:30:38 PM EST
My daughter got her license at age 18, intending to make a career of it. She quickly discovered that it is a trade of feast or famine. In good times, like when there is a lot of re-fis going on, they do great. In other times, you would make a better living panhandling. The state of California encouraged a lot of people to do it because, at the time they were encouraging, there was a real demand. So a lot of people got licensed, and then the economy changed and few of them are still in the field. If you can manage to make a living at it, and keep yourself whole through the bad times (and there will be bad times), it is a great job. Lots of independence and pretty decent pay.
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