Welcome to The North Olmsted Office!
Contact Me at RichBarber@HowardHanna.com
Choose a Career in Real Estate and Change Your LIfe!!
The benefits of a career in real estate are numerous - a flexible schedule, unlimited earning potential, the satisfaction of guiding someone through the home-buying/selling experience, and so much more.
Howard Hanna works to fully equip their agents with the knowledge and technology to be the best at what they do. From the moment you begin your career Howard Hanna offers free training and support, in-office support staff, nationally recognized website, personalized marketing ideas, weekly television exposure, and much more!
You Control Your Own Destiny
From young professionals to stay-at-home moms and retired executives, the people in real estate are very diverse. They do, however, share a few common interests - a desire for flexible work hours, the ability to grow their own business and the freedom to earn what they're worth.
Join the Best!
Howard Hanna has been the largest, most successful real estate company in Ohio, ranked in the United States!
Contact me to schedule a personal meeting in the growing Lakewood Office. I would be happy to help you make your career decision a little easier.
Congratulations on your decision to investigate the exciting opportunity of real estate sales. We have prepared this outline to answer the very common question, “What can I expect in cost as I build my career?”
Every Real estate associate must first become licensed with the Ohio Division of Real Estate. This requires the completion of 120 hours of pre-licensing classes that are offered at many locations and by many institutions of higher learning throughout the area. Once you have completed classes, you must pass the examination given by the State of
WHERE DO I START?
In order to sell real estate in
· Complete for pre-license classes at an institution of higher learning
· Broker sponsorship
· Successfully pass an examination given by the Ohio Division of Real Estate
HOW MUCH WILL IT COST TO GET STARTED?
The pre-licensing requirements will vary in cost depending upon which school you choose to attend your classes. You can assume that your initial investment to become licensed will be between $600 and $1,200.
With Howard Hanna and most other large companies, you will need to join a local board of real estate, the Ohio Association of Real Estate, and the National Association of Real Estate. The dues to belong to these trade associations will depend on your geographic area and the local board with whom you choose to affiliate. Commonly, the cost will vary from $250 to $500 and will be payable soon after your license is received.
There will also be some start-up costs to get your business off the ground. In today’s industry, personal promotion to let the world know who you are and that you are in real estate sales is very important. This cost is unpredictable, since it depends on your personal campaign.
HOW LONG WILL IT TAKE ME TO FINISH THE FOUR COURSES?
You will find that each school’s schedule will differ. We recommend that you call several of these schools to check on their schedules as well as the classes and books. Generally, at the larger universities, classes are offered once or twice a week. Typically the proprietary schools will offer an additional schedule which accelerates the time to finish classes. In this type of program it is possible to take all four pre-license classes in less than six weeks.
WHAT IS BROKER SPONSORSHIP?
You cannot apply for the state exam without a Broker sponsorship. This means that a real estate company must sign your application to the Ohio Division of Real Estate indicating that you will be affiliated with that company upon passing your exam and receiving your license. The process of sponsorship will vary from company to company.
At Howard Hanna, there will be an initial telephone interview with a branch manager that may lead to a series of personal interviews. We, at Howard Hanna, are looking for full time career-oriented professionals. This interview process with the local branch manager will give you a chance to get to know Howard Hanna. It will also give our branch manager an opportunity to get to know you and assess your commitment and goal orientation to help determine our success ratio as a team. The affiliation between company and licensee is a mutual commitment to achieve success together. The decision for sponsorship is a very important decision for both you and the company.
WOULD I BE AN EMPLOYEE OF HOWARD HANNA?
No, you would be considered an independent contractor. Your income will be commission only and there would be no company-paid benefits. There are, however, group benefit programs available for your participation if needed.
WHAT IS AN INDEPENDENT CONTRACTIOR?
In real estate, independent contractor status means, for tax purposes, you would be considered an entrepreneur in business for yourself. There will be no taxes taken from your commission income and you will be responsible for filing your own quarterly taxes. Actually, you will be operating as a “business within a business”.
As an association of a broker the responsibility for your conduct lies with that broker. Therefore, in your interaction with customers and clients, you will not be acting independently of the broker.
Your availability to service the needs of your customers and clients will establish your workweek. Be prepared for irregular hours and weekends. Remember, people need the service of a Realtor during the hours they are not working.
HOW AND WHEN DO I GET PAID?
For your participation in a transaction, you will be paid a percentage of the service fee (commission) collected. The service fee is collected by the company and paid to the sales associate upon completion of the transaction. Simply put when you sell a house, you get paid and when you don’t, you don’t.
The length of time to collect your first commission check differs greatly from person to person. Essentially, it depends greatly upon your commitment. Those who are dedicated to activities of substance from the beginning will obviously succeed much faster than the one who starts slowly. It has been our experience that from the time you are licensed to sell, with dedicated effort, it may take six to eight weeks to procure your first sale. Once you have a home under contract, it will take another thirty to ninety days to finalize the transaction. This period of time is allotted for the buyer to obtain loan approval, the home to pass all inspections, and the title work, etc. to be done. It is prudent for you to have four to seven months of reserve income for the start-up period in real estate sales.
HOW WILL I KNOW WHAT TO DO?
Howard Hanna takes the education of our Realtors very seriously! We have a University that is unparalleled in the industry. This program is designed for our newly licensed Realtors, as well as experienced Realtors who have transferred to our Company. You will be trained by the best of the best. Our philosophy is that only with proper preparation will you have the knowledge, self-confidence, and positive mental attitude to succeed.
CAN I SELL REAL ESTATE PART TIME AND KEEP MY FULL TIME JOB UNTIL I MAKE ENOUGH MONEY IN REAL ESTATE?
Many real estate companies accept part time Realtors. Howard Hanna is very committed to the industry therefore our concentration is on full time, career-oriented professionals; however we realize there are circumstances where exceptions need to be made.
Howard Hanna defines full time as being available to your customers and clients when they need you. Outside commitments, such as another full time job, would most likely prevent you from providing professional service when needed.
QUESTIONS TO ASK YOURSELF:
WHAT IS MY NEXT STEP?
If, after reviewing this information, you are excited about a new career in real estate sales, please call me to further discuss your future with our company.
I look forward to talking with you soon.
Contact Me at RichBarber@HowardHanna.com