Monday, June 25, 2007

Baby-Face Real Estate Brokers Multiply in City Firms - June 21, 2007 - The New York Sun 

Baby-Face Real Estate Brokers Multiply in City Firms - June 21, 2007 - The New York Sun

Enthusiastic newcomers to the real estate industry.

Andrew Barrocas knew he wanted to be a salesman after making $50,000 one summer at age 16, driving a Good Humor ice cream truck. A marketing major in college, he was looking for a different job once he realized he'd make the same income if he stuck with marketing. His brother suggested he try real estate, luring him with the promise of a six-figure income. Mr. Barrocas, now 28, knew it was just what he was looking for.

He got his license immediately after graduation and went to work, soon becoming a top salesman at Citi Habitats within his first year and branching off at age 26 to start his own sales and rental firm.

"Real estate was a route that I didn't have to wait in line in order to be successful. I was able to get as much as I wanted based on what I did and what I was capable of doing," Mr. Barrocas said.

The number of young people getting their real estate licenses is increasing, according to several brokerage firms and the city's largest licensing preparatory school. College graduates like Mr. Barrocas are attracted to the perks of real estate sales: a six-figure salary, flexible hours, and no formal supervisor. The state requires 45 hours of coursework, a licensing exam, and a sponsor, and then anyone can start making a commission.

Recent graduates who get their licenses — which cost $330 for the classes, course materials, and state exam fee — are sidestepping graduate school, avoiding more student loan debt, and earning more than they would in other jobs, the president of the New York Real Estate Institute, Richard A. Levine, said.


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