LM - Big Career Change - Engineer to Realtor

I'm spitballing ideas right now and this is one that I keep coming back to.  As I've said in a few topics before, I'm due for layoff as an automotive engineer in the not to distant future. What kind of culture shock would I get by becoming a Realtor? I honestly have no idea what is involved besides home showing and a ton of paperwork and helping people find their homes. I have a friend who runs a successful car guy real estate company so I'll be talking to him too but I know that there are members here involved. I'm good with people and detail oriented and had customer facing jobs before, so that shouldn't be an issue. Thoughts and comments?  Thanks!

Long stretches between paydays.  

In a previous life I did some business selling to realtors and they all had lousy credit.  I'm sure some do very well but this is what I observed.  

How are you at used car sales?  I ask because we know every used car has some hidden problem (that you might be aware of.)  Well, this is used house sales and we know every used house has some hidden problem (that you might be aware of.)  

In reply to PMRacing :

You're basically always working, as you have to accommodate your client's schedules. Also, it's sales, so ultimately it's about maximizing profits. That involves having a good intuition for reading people, knowing how to play into their desires, and not being afraid to push them to spend more money.

If you are the kind of person who's naturally good at sales, and don't have too many commitments that would keep you tied up on evenings/holidays/weekends, I'm sure in some markets there's still the potential to make a good living. 

I'm not a realtor. But it's a sales job. There's a little bit of regulatory classes and testing you have to pass, but I assume that won't be a problem for you. 

As I understand it, it's really not so much about helping people buy (especially these days when people can just search the internet to find the house they want), but rather getting people who are selling to choose you as their realtor. A common tactic is to meet potential buyers at open houses, help them buy, and then cross your fingers that they like you enough that you can stay on their minds until they decide to sell. 

Because of the above tactic, it means that you might have to grunt out a few years with little income because your first 'buyers' might not be selling their house until a few years goes by. 

But remember, it's a sales job. A few special people make a ton of money in sales, and competent people can make a decent living with dedicated effort over a long time, but it can be a really rough world if it's not in line with your natural talents. 

Also, this has nothing to do with you personally. 

But if you asked if the 'average' engineer has the right natural skill set to be a successful real estate agent, the answer would be 'no'. 

In reply to PMRacing :

We've never met but I see an interesting contradiction.  

Realtors need to be "social beings" always meeting people and making bonds with those people quickly.  

Engineers tend to not excel in these types of personal relationships.  Yes, this is a stereotype but maybe worthy of some internal reflection.  

Edit:  Ha, written at the same time as Robbie.  

In reply to PMRacing :

You should also check into becoming a mortgage broker.  The few that I know make BIG bucks, way more than the realtors I know.  They get paid for every loan that closes including refinance.

My brother is a realtor. No way in hell would i do it, and i work front line mental health!

I think, as an engineer myself who has recently been forced to change jobs, that staying away from automotive engineering brings you back into the world of >> six figure steady years ahead.

If you really are an engineer who can sell, this is a highly sought after skill combo. Mostly because it tends to be a rare combo. 

I would think you can find a better place to put that combo rather than real estate where the engineering skills will offer little. 

In reply to John Welsh and Robbie :

how do you know you're talking to an extrovert engineer?  he's staring at *your* shoes instead of his own!!1

what do engineers use for birth control?  their personalities!!!1!

i've been an engineer for 30 years now so I am allowed to make these jokes.  the rest of you can eat a bag of dicks.

and to the OP:

give it a try, if you've got nothing else going on.

John Welsh (Moderate Supporter) said:

If you really are an engineer who can sell, this is a highly sought after skill combo. Mostly because it tends to be a rare combo. 

As someone who is an engineer (albeit not a real one, just a software engineer) - this, with cherries on top. I work in a customer-facing non-sales role and the number of fellow good engineers who are able to excel in a role like that is a very small percentage out of a pretty decent size pond.

Now add sales on top and you're talking close to unicorn territory.

AngryCorvair (Forum Supporter) said:

In reply to John Welsh and Robbie :

what do engineers use for birth control?  their personalities!!!1!

To close for comfort, that .

COVID has not been kind to home sales so there are a lot of hungry realtors already in the market.  I'm interested in real estate myself, but now is likely not the best time to jump into that pool.

The official title is "dirt pimp".

You're used to making things for a living, or designing/creating them. Would you be happy walking away from that and just being a networker? Do you want to look back at the end of the year and say "these things exist because of me!" or "I sure hope the Jonese are happy in their new house"?

nderwater said:

COVID has not been kind to home sales so there are a lot of hungry realtors already in the market.  I'm interested in real estate myself, but now is likely not the best time to jump into that pool.

Depends. People like Duster and myself (whom are medical, aka "necessary workers" or whatever) who have cash see the rock bottom interest rates and are taking advantage of it. My city has been a total seller's market with some properties going +10K over.

Lots of full time people.   A ton more part time that sell 1-2 homes a year that cut into the full timers.  

You see a lot of teams now since the demands can be intense.   Mom and daughter.   
 

In reply to AngryCorvair (Forum Supporter) :

One of my favorite jokes.   

GIRTHQUAKE said:
My city has been a total seller's market with some properties going +10K over.

Is that true in Detroit, though?

Getting started seems like that most difficult part. Building a network, establishing a reputation, learning about the area and what drives the local market etc (all while paying your boss a decent piece of the pie on anything you do close) can really take awhile and weed out the serious/skilled agents. Ideally, I'd probably try to dip your toe on nights/weekends while you've still got a regular gig to fall back on.

Indy- "Nub" Guy said:

In reply to PMRacing :

You should also check into becoming a mortgage broker.  The few that I know make BIG bucks, way more than the realtors I know.  They get paid for every loan that closes including refinance.

Another vote for this. I know a couple of very smart engineers that ended up doing this and they do quite well. Both own their own brokerage firms. 

Brian at Gearhead Homes is a good dude.  

If the mortgage thing looks appealing look in to the a job with United Shore/United Wholesale Mortgage in Pontiac.  Massive place that always seems to be hiring.  South Blvd between Opdyke and Woodward.  They seem to get regular “great place to work” type awards.  

I'm a contractor who was once a Realtor. 
 

That means I've worked with hundreds of engineers, and hundreds of realtors.

They are REALLY different personality types.  You may be the exception, but I've never seen it.

I quit being a Realtor because I couldn't turn off the logical part of my brain. I couldn't walk a customer into a house with obvious flaws I could see and steer him toward a purchase that I didn't believe in. 
 

Additionally, it's an industry that seems to be designed for sales people who are female.  Female buyers tend to trust female salespeople, and male buyers just like having a salesperson who is a woman.  I know this is a stereotype, but it was hard for me to overlook when I was doing it.

YMMV.

In reply to wawazat :

Brian sold my house in Adrian, my wife's condo, and helped us buy our current house with my big garage :). I've recommended him to many people any time they need a realtor.