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Good answers here.
It's not easy.
Robert May nailed this one!
just looking back through some of the old questions and answers, looks like you got some good replies.
Opening a new real estate business can be a very effective way to lose money. Consider the alternatives.
You will need to have a healthy cash reserve to see you through the first year as you will need to spend money to make money when not much might be coming in. Don't expect to make any real profits for two years.
With all the expenses IDX, E & O insurance MLS, signs, cards etc, have a least a 6 to 9 months reserve built up. Depending on your market area and laws this could be very expensive.
Charles, before a person gets into real estate they need to understand that there are many expenses upfront that may not be covered by their brokerage: signs, mls dues, business cards, etc and that it will be a couple of months before they are ever paid. Business will not be handed to you !
That the people don't knock down your doors. You have to get out there and let them know you are there.
That's an easy one. That it will take you anywhere from 2 - 6 months for your first transaction. You really should have at least 6 month of savings to undertake this.