This section is from the book "Practical Real Estate Methods For Broker, Operator & Owner", by Thirty Experts. Also available from Amazon: Practical Real Estate Methods for Broker, Operator, Owner.
In closing let me say that if you are in a good situation and earning a fair compensation, and with a growing concern, do not be too ambitious to start in business for yourself with an idea that you can make more money. I have known a good many men earning from $5,000 to $10,000 a year with prominent concerns who have started in business for themselves. Very few of them succeed. You do not get the consideration from operators, speculators and investors, when you present your own card, that you do as a representative of a long-established and reliable real estate concern. Besides, speculators are not apt to give you the same consideration in commissions that they gave in your old employment. They will want to dicker, want you to divide or pay a commission to some one of their friends, and you have not the backing, nor the capital, to permit of your refusal. Your financial results, therefore, are liable to be very much less than before you started for yourself. In addition, you have the expense of maintaining an office and at least an office boy and a stenographer, which must be deducted from your earnings.
If, however, you are able to secure the agency for a number of properties that will pay your office expenses and give you a slight recompense besides, I would not wish to advise you not to start for yourself. But many men give up a fine position and eventually are forced to return to employment.