1/20/2010 9:24:08 AM

Some people might think this isn't the time to get into real estate sales, but even during challenging economic times, there are opportunities.

If you love to meet people, help them and share an incredible experience with them, real estate may be right up your alley.

How do you even get started? Classes, classes and more classes, followed by a test, is just the beginning.

Both the classes and the test have costs associated with them.

"It (real estate) is an expensive business to get into," said Beth Nordaune, who has been with RE/MAX of Rochester for more than nine years. "I don't think the public realizes how much money it costs to be in this business."

Payment arrangements vary with real estate company. For example, at RE/MAX, agents receive sales commission but then pay fees for office space, copies, affiliation with RE/MAX, and so on. At other companies, agents may be on a split, receiving part of the sales commission and the other part goes to the office to cover expenses.

Along with costs for the classes and tests, there are other fees associated with being a Realtor, including:

• License fees

• Real estate signs

• MLS fees

• Advertising or Web site costs

• Cell phone bills and other basic office supplies

It doesn't get cheaper with more experience, which you might need to add staff to help manage your business. More listings mean more advertising, more signs and so forth. Nordaune says she spends about 10 percent of what she makes each month on marketing her business.

Along with the investment of money, comes the investment of time. If you are a workaholic, this may be the perfect career for you. The hours of Nordaune's job are "always."

"This has been hard for me to balance because you can work all of the time. I love the flexibility of the job, where I can run an errand or be home with my kids if needed, etc., but on the other hand, you are always on call. You work many evenings and weekends" because that's when customers are house hunting.

"If you want to be successful in this business," she said, "you have to work and treat it like a job. I think you need to go to the office and be involved. It won't last long if you are waiting for business to come to you. You need to 'work' the business."

Rewards of hard work

Real estate sales involves long hours and hard work, but it can be a rewarding career for women.

Kelly Calvert is a broker/manager for Prudential Lovejoy Realty in Rochester, owned by Peggy Lovejoy, who bought the company just more than a year ago.

"I think you will see woman becoming more and more dominant in this market," said Calvert.

Lovejoy is an example. She has her own title company, owns several rental properties, has an office in Onalaska, Wis., and opened four new offices throughout the Twin Cities. She plans to open two or three more this coming year.

Beginning advice

Nordaune advises anyone considering a career in real estate to find a mentor. Work with someone experienced or trade time to gain advice.

Education also is key. "While you are starting, learn all you can. Take good classes, get involved in your office; the MLS (Multiple Listing Service) has meetings and groups to help new agents. I did all of that, read as much as I could about houses online and even watched a lot of HGTV," she said.

Both Nordaune and Calvert agree that a love of helping and meeting new people, keeping busy, and being in charge of their own success is what they love about the real estate industry.

Women at Work, by Kristen Asleson and Kim Radke, is a weekly column on Southeast Minnesota business issues and trends. Send comments and ideas to news@postbulletin.com.

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