Why Pursue A Career In Real Estate?
A real estate career comes with a lot of benefits, such as the ability to be self-employed, and set your own hours. The great thing about Real Estate is it can be a perfect side hustle. Because most real estate sales agents and brokers set their own hours it is definitely possible to have your 9-5 and then do this on the side. At the same time those who have or are seeking a full time real estate career this field definitely has a good job outlook.
This career is looking at a 6% growth rate between 2016-2026. Though the requirements vary between states most just require you to be 18 years or older, complete real estate course(s), and pass the license exam.
How To Get Into a Real Estate?
The first thing you need to realize when getting into real estate is that it’s not that difficult to get your license. Especially now. Do note that different states do have different criteria that you must fulfill to begin your career in Real Estate. In the near future, California BRE is going to require a bachelor’s degree, but for now it’s pretty much open to anyone just studying and passing the state exam.
Broker vs Sales Agent
You’ll need to determine if you want a real estate career as a sales agent or as a broker. If you are trying to ride solo you’re looking to become a real estate broker. This requires you to obtain a license to manager your own real estate company. If you don’t care about the business aspect and just want to sell homes, you’re looking to be a real estate sales person. This allows you to work under a broker and just focus on selling and buying homes. Keep in mind if you work under a broker they will get a cut of your commission.
The Course
Once you’ve determined if you want to be a broker or sales agent the next step is to take your “principal” courses. This is mandatory to be eligible to take your state exam. This courses can be taken online or at your local community college. It’s fairly simple and explains most of the laws and day-to-day procedures of real estate.
For sales agents are required to take 3 courses including Real estate Principles, Real Estate Practice, and an additional Real Estate elective course. Brokers are required to take a few more courses including real estate practice, legal aspects of real estate, real estate finance, real estate appraisal, real estate economics/accounting and three additional courses.
The Exam/ License
Once you pass the “principal” course, you’ll then be able to sign up for your state exam. From there, you’ll set up your date, hopefully pass the exam, and get your license mailed to you. The examination fee for the sales agent is $60 and for a broker is $95. The license fee for a sales agent is $245 and for a broker is $300.
Personal Skills For Success
You’ve passed your exam, now you’re finally ready to start selling homes! However, just because you did well on the exam and have all this knowledge, does not mean you’re going to do great in this business. You need to be able to apply that knowledge effectively. It also falls on your personality. If you’re an introvert, then this business of a sales person will be more difficult for you. This is because you’ll need to be able to communicate with people, and sell. If you’re not as outgoing don’t be discouraged, there are different roles that a broker can play. Extroverts, often do well as real estate sales agent.
Finding Clients
So, you passed your exam, have your license, and have it under a great broker. Awesome! Now comes the hard part…….getting clients!! You need clients or else you’re going to starve. You need to have that mentality. Don’t think there’s a backup plan. Go all in, with this business, or go home. That’s the only way you’re going to succeed. Push and push. Always hand out your business cards. Talk to people, any chance you can get. Go to networking events. Take free training classes that your broker offers. Ask for advice from other realtors. Shadow someone. Ask questions! Research online! Join an online Realtor forum. Put your info on social media. Blast it on there! Oh and…..HAND OUT YOUR BUSINESS CARD!! Seriously, that’s the number 1 thing. Always be promoting yourself and you’ll eventually get a client.
Tip to Succeed
It’s crucial to this business that you make yourself accessible. This work requires you to be available all the time. You work based on your client’s schedule. If they want to go see homes at 7am on Saturday morning, then you better be available! Don’t go out that Friday night. Stay in, find homes to check out online, set appointments, take notes, etc. The more you put into this business, the more you’ll get back. I promise you!! Work hard and you’ll make it!! Trust!
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Authors,
Alejandro Montani
Real Estate Agent, Home Team Realty
JoeSandra Odunze
Corporate Minority, Founder
