Saturday, March 3, 2012

Informational Interview

Vue Her
Fin180 2-3:15pm
Dr. Hansz

For this information interview assignment, I interviewed a colleague majoring in construction management with 10 year real estate background and also working part time as a painter. He has retire from real estate before the market drop and now currently attending CSU Fresno trying to get his bachelor degree in construction management. While working as a Realtor he was located in Santa Cruz focusing on single residential housing and commercial. Through out this paper my colleague would like to be anonymous. The following are some questions I asked him during the interview:    

How did you get started in this field and what was your educational background?  
“I was always interested in business during high school. Once I got my high diploma I went into real estate right away by taking some private classes at Anthony’s School. That school has the highest success rate in the central valley or entire state with the rate of 95% passing. It was a 4 month program while working a part time job during the day and went to school during the night. It was really tough for someone right out of high school, but my passion in real estate help me through. As soon as I got my license, I start off working as an assistant for a real estate agent working under a broker. While working as an assistant I would takes calls when the Realtor would be away and also run and file papers for him.”  

What is the most rewarding aspect of your job, least rewarding?  What might you change?  Would you choose this career again?   "The most rewarding aspect for this job would be helping people to become homeowner, handing someone a key is what makes it rewarding for me. Not to mention the payment after a sell, since I was still young those two things were really the most important aspect for me in real estate. The least rewarding for me was telling a client they did not qualify for a house and have to be turn down. What might you change? I said the competition, but there is no way you can change that. That was the only reason why I left real estate. Would you choose this career again? Yes, I would if this economy wasn’t this poor because the reward in real estate is excellent. But right now I would like to try something in construction instead.”

What is a “typical” day like for you?
“A typical day for me when I was starting off was: show up at 9 am dressed up and ready to go, start off by delivering paper in the morning then come back and prepare for an open house until lunch, and then go back to office to finish the day off with more work. My time would usually go from 9am until 5pm.

What are some common entry-level positions in the field? What kind of salary range and benefits are typical of an entry-level position in this field?
“There is only two common entry level position that is offer in the field, Assistant or Secretary. When someone just got their license you can not really start out as a Realtor agent without any hands on experience first. This is why I start out as an assistant for a Realtor and try to get use to the work first.” 
 “When I was start off, I worked full time with a pay of 9 dollar an hour. 9 dollar seems low but at that time the minimum wage was much lower compared to now. So a month I would make close to 6000 – 7000.”

What kind of an individual (skills and personality) is best suited for these entry-level positions?  What are the most important factors used when hiring?
“I think the three most important skills and personality is best suited in this field is: someone that who like listening or enjoying talking to people, quick thinker and communication. Out of those three I think communication is the most important, because without good communication a Realtor would not survive in the real estate or business field. The most important factor used when hiring is a Realtor license, you can not do anything without it in real estate and the above personality.

What is the best educational preparation for a career in this filed?  Which classes and experiences would be most helpful to obtain while still in college?
“The best educational preparation in this field is a minor or major in business. Most important is having an interest in business; beside those take classes in real estate principal, Finance, and gets hands on experience.”

What have you found to be a major weakness in this field?
“Major weakness in this field is disclosure, because not all information will be disclosed to the buyer and not enough regulation to protect the buyer. Beside that is communication and reputation for a Realtor, without those two factors managing a business will be hard.”

What is the typical career path from entry to top management and how do people usually find out about full-time openings in this field?
“The typical career path in this field is nothing but major sells and reputation. Once you have enough experience and reputation that is when you can start your own business or move onto the next level. While doing this job the only way people usually find out about full time openings is through word of mouth or the newspaper, but today all those information can be obtain from the internet.”

What is the future outlook for this career?  
“Right now I see the market becoming more of an honest field/career since the bubble burst; is reflecting more on the honest price of real estate.”

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