Getting Started In Real Estate
Entry into the real estate field depends on education, training and interests. Most people begin as sales trainees in a brokerage firm. Other possibilities include office assistant, listing or rental agent, assistant in a department of a large real estate organization, or in the mortgage division of a bank or savings and loan.
Is A Career As A Real Estate Agent Right For You
There are many factors to consider when choosing a career, and what may be good for one person may not be good for another. However, there are some general things to keep in mind when considering a career as a real estate agent. First, real estate agents must be people-oriented. They need to be able to build relationships with clients and potential clients, as well as maintain those relationships. They also need to be able to work independently, as most real estate agents are self-employed. Second, real estate agents need to be organized and detail-oriented. They need to keep track of properties, clients, and paperwork. Third, real estate agents need to be able to handle stress. The job can be stressful at times, especially when working with difficult clients or properties. Overall, a career as a real estate agent can be a good choice for someone who is people-oriented, organized, and detail-oriented, and who can handle stress.
Pros Of Becoming A Real Estate Agent
There are great perks to becoming a real estate agent. Most people start this career because they arenât happy with their current career or they want limitless freedoms that becoming a real estate agent brings them.
So, hereâs a list of the pros of becoming a real estate agent.
#1. Income Potential
One of the greatest advantages of becoming a real estate agent is the unlimited income potential. As an agent, there is no limit to how much you earn. Thatâs because real estate agents work for a commission.
Typically, the agent walks away with 2.5% – 3% of a propertyâs sale price.
Depending on the local housing market prices, the commission can be substantial.
For example, in areas where the average home price is $1,000,000, the agent walks away with $25,000 – $30,000.
Thatâs for a single sale.
Real estate agents decide how many clients they take on, which means they are in charge of how much they can make per year.
#2. Flexible Schedule
Real estate agents can set their own schedules.
This flexibility gives agents the opportunity to fit work around their lives easier than other professionals.
For agents with children, flexibility is a major benefit of the career. Parents can attend important events and spend more quality time with family.
#3. You are a Business Owner
Real estate agents are entrepreneurs.
Although they must work under a broker to legally sell real estate, they run their own business.
#4. Itâs a People Business
#5. You Help People Achieve Their Dreams
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Final Thoughts On Becoming A Real Estate Agent
Becoming a real estate agent has its share of pros and cons.
Donât let the cons rain on your dreams. This career is for those who are dedicated, resilient, and committed to success.
There will be hard times for those who start a real estate career, but the reward and freedom are worth it.
If you are committed to this career and doing the best you can, then nothing will stop you from succeeding and achieving everything you want.
Donât let the cons outweigh the pros.
ONE LAST THING: Are you still not sure if becoming a real estate agent in California is right for you? Here’s something that will seal the deal on your decision. Attend a free intro session at CA Realty Training. This is a free way to test our real estate training program, learn about the career, and speak directly to an active agent. It’s absolutely free and you can access our online live webinar free training session from anywhere. If you decide if it’s not for your, no problem. There’s absolutely nothing to lose. Our free intro sessions are the first week of every month. If you’re interested, .
Land And Vacant Property Real Estate
These agents usually work with clients interested in purchasing land. These properties include vacant land, working farms, and ranches. Vacant land includes undeveloped, early development, reuse, subdivision, and site assembly parcels.
Consider this specialty if you:
- Can see the potential in a blank plot of land
- Understand the farming industry
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Why Become A Real Estate Agent
Working as a real estate agent offers a great deal of variety. From working with different clients and visiting many homes, you wont be doing the same thing every day. You get to be your own boss and enjoy the satisfaction of helping buyers and sellers navigate through one of lifes major milestones.
The median pay for a real estate agent is about $48,340 per year, according to 2021 data from the U.S. Bureau of Labor Statistics. Real estate brokers with additional education, testing, and experience average $62,010. The highest 10% of agents earned more than $102,170.
Getting into the field is easy. Compared to other careers, most that require a college degree, with similar earnings potential, getting your real estate license is a relatively quick and affordable process.
Real Estate Careers: The Pros
In most states, you can complete the required real estate courses, become a licensed real estate agent, and start your new career in just a matter of weeks or months . The process is different based on location, yet it usually takes months to complete a course and final exams and then study for your licensing exam. After the licensing exam, you will activate your license. Then, as a real estate agent, you can either work for yourself or a brokerage. However, when you are starting out, working for a brokerage is the best way to test your real estate skills and build your network of clients. For your knowledge, some brokerages do have extra training, so you learn how it operates and its branding.
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Congratulations On Getting Your Real Estate License
Before you ask what you can do with your license or what career opportunities you have in real estate, take a moment to congratulate yourself. You did it! You made it through real estate school and passed your exam amazing work!
Before you worry too much about how to get your first job in real estate, take a moment to appreciate everything you have already invested into your career. What you accomplished up to this point was not easy! The team at VanEd – Real Estate School is proud of what you have accomplished thus far.
Even with the amount of work you have invested into your career up to this point, you know that this is only the beginning. You have an entire future ahead of you with many exciting possibilities. One of the best parts of working in the real estate industry is the incredible opportunities available to you. But with so many possible career paths, where do you start?
Here is our list of the top 8 real estate jobs you might consider after getting your real estate license.
What Are The Types Of Real Estate Agents
Real estate agent a person who has met all licensing requirements and passed licensing exam and now holds a real estate license that must be renewed
Realtor A realtor is a real estate agent who is a member of the National Association of Realtors. This is a trademarked term and is actively defended by the National Association of Realtors. Avoid using this term unless you are a current member.
Real Estate Broker a broker has a real estate license, 3,600 qualifying points, 900 hours of continuing education, and accepted application for a broker license. They can be referred to as a principal broker or managing broker if they supervise a real estate office or brokerage and all the real estate transactions. A broker may own their own brokerage.
Broker associates have the broker qualifications but do not run a real estate office or brokerage. They can supervise real estate transactions.
Listing agent a real estate professional who lists the property and acts in the best interest of the seller.
Buyers agent a real estate agent who represents the buyer
Dual agent a real estate agent who serves as both. Most states require the dual agent to advise the seller and buyer of their dual role
Transaction agent a real estate agent who does not represent either side. Often an experienced broker
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Licenses Certifications And Registrations
All real estate brokers and sales agents must be licensed. Licensing requirements vary by state, but most have similar basic requirements:
Candidates must:
- complete a number of real estate courses
Some states have additional requirements, such as passing a background check. Licenses typically are not transferable among states. However, some states have reciprocity agreements in that they will accept some requirements used to get a license in another state .
To obtain a brokers license, individuals generally need 1 to 3 years of experience as a licensed sales agent. They also must take additional formal training courses. In some states, a bachelors degree may be substituted in place of some experience or training requirements.
State licenses typically must be renewed every 2 to 4 years. In most states, brokers and agents must complete continuing education courses to renew their license. To verify exact licensing requirements, prospective brokers and agents should contact the real estate licensing commission of the state in which they wish to work.
Real Estate Agent Job Description
Real estate agents assist clients in buying, selling, and renting properties. Real estate agent or real estate sales person does similar work to a real estate broker, but brokers are licensed to manage their own a real estate businesses. Real estate agents must work with real estate brokers.
- Completely free trial, no card required.
- Reach over 250 million candidates.
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Managing Large Transactions: The Cons
Real estate transactions generally are one of the most stressful times of a clients life. You will need to be confident in your skills and abilities when things dont go as planned. If a client leaves unhappy, whether it was due to your efforts or not, word-of-mouth spreads quickly and can affect your referral network and, ultimately, your bottom line.
Careers In Farm And Land Brokerage
Land brokers deal in land for farming, and acquisition of rural land by cities for residential, commercial and industrial expansion. Success as a land broker depends on how accurately the income potential of the property can be established. Brokers need a good working knowledge of various factors which determines a farms capacity to produce, including agricultural knowledge and information such as market centers and transportation facilities. Contact the REALTORS® Land Institute at 312-329-8482.
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Real Estate Brokers: Salary Career Path Job Outlook Education And More
Real estate brokers are licensed to manage their own businesses. As independent businesspeople, brokers often sell real estate owned by others. In addition to helping clients buy and sell properties, they may help rent or manage properties for a fee. Many operate a real estate office, handling business details and overseeing the work of sales agents.
- Education Required
- Real estate brokers and sales agents must complete some real estate courses to be eligible for licensure. Although most brokers and agents must take state-accredited prelicensing courses to become licensed, some states may waive this requirement if the candidate has taken college courses in real estate.
- Training Required
- Real estate sales agents improve their skills through practice and repetition. Training varies depending on the real estate company. Some provide formal training, while others allow their agents to enter the field immediately after obtaining their license. In some states, agents must be sponsored by a broker while they are working to get their license.
- Job Outlook
Is Real Estate A Good Career
Working as a real estate agent tends to be rewarding financially, emotionally and mentally when an agent excels at the job. Youre not just closing a sale but also helping a person or family achieve a life-changing milestone.
Its a big transaction with a lot of moving parts and youre the one who helps people through it. According to the Zillow Group Consumer Housing Trends Report 2018, 82% of buyers and 84% of sellers expect their real estate agent to guide them through the overall buying and selling process.
In addition to being organized and familiar with the process, youll act as a counselor, educator, appraiser and negotiator while directing questions requiring special expertise to the right industry professionals.
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Youll Be Your Own Boss
Many states require a new agent to work under an experienced broker at first but once thats over, you can branch out on your own.
Pros: You manage your time and priorities, and you can work from home if you choose. And youll manage all decisions, with your own best interests in mind.
Cons: Youre on your own, and its up to you to learn the market and build your business. Finding leads, networking and maintaining a referral system are all on you.
What To Do If You Arent Satisfied
If youre finding yourself unsatisfied with your work in real estate, before making any drastic decisions try to evaluate if youre experiencing real estate agent burnout. To help agents weve developed a resourceful post with information on burnout. Reach out to those around you who can support you to tackle your discontent and get to the root of it.
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Mistakes To Avoid When Starting A Real Estate Career
Starting out as a real estate agent takes training, nerve, and some financial reserves. Before you can even sell real estate, you have to present yourself as a real estate expert in your chosen area and its housing market. According to the National Association of REALTORS , 87% of buyers and 89% of sellers used the services of a real estate agent in their housing transactions.
As you are taking the first steps on your journey as a real estate agent, you are bound to stumble. Avoid tarnishing your reputation by knowing the most common beginner mistakes in real estate.
What Can You Do With A Real Estate License
Youve heard about the perks of being a real estate professional. Whether its the allure of becoming your own boss, the fact that many positions don’t require a bachelor’s degree, or the limitless earning potential, many people want to get a job in real estate. Another draw to the industry includes the wide variety of real estate career paths you can choose and the jobs you can have with a real estate license. In other words, there are career options for real estate agents beyond being a residential agent . You may have asked: What else can you do with a real estate license?
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Education For A Career In Real Estate
Colleges and universities now offer a variety of real estate and related courses. At many of these colleges, students can specialize in a program that leads to a bachelors degree in real estate. Some universities offer graduate level courses. Contact your local public library for university and real estate college course information and directories.
Careers In Urban Planning
If you would like to improve the environment and the quality of peoples lives, becoming an urban planner may fulfill your career objective. Urban planners work with local governments and other civic groups to anticipate their citys future growth. They propose physical changes to accommodate this growth. Not many career guidelines exist for urban planning, but broad general experience is important. Some colleges are now offering degrees in urban planning. Contact the Urban Land Institute at 800-321-5011 or visit their website.
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How Job Satisfaction Impacts Your Income
Its so easy to experience agent burnout and knowing why youre in real estate and what elements of the career make you happy are critical to feeling satisfied every day. If youre having trouble being satisfied with what youre currently doing, think about which elements of the real estate business are important to you personally. Then, make sure youre maximizing these throughout your working day.
Since research shows your income increases the longer you stay in real estate knowing how to find satisfaction in your career will pay dividends in the long run. Our survey showed that real estate agents who are very satisfied with their job earn about $70,000 more per year than those who arent very satisfied.
Does My Real Estate License Need To Be Renewed
Each state has specific requirements for keeping your credentials up to date. Real estate professionals in New Hampshire, for example, need to renew their licenses every two years from the date their licenses were issued. California real estate licenses must be renewed every four years from the date on the license.
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Commercial Real Estate Appraiser
Another common career in commercial real estate is becoming a commercial appraiser. Like the residential real estate appraiser, the commercial appraiser will provide an assessed value for a property. Typically, you will spend quite a bit of time working with an established appraiser to learn the trade.
Formal Training And Cost
Depending on your states licensing requirements, you will need to complete between 40 and 150 hours of training and earn a passing grade on the licensing exam. You will also need to submit your real estate agent application, be fingerprinted, and have a background check. Expect to spend between $500 and $1200 to earn your license. For exact numbers, check with your state real estate licensing bureau.
Some states allow you to take online courses.
Start networking at real estate agent classes!
Once you have your real estate license, you will spend some time with a real estate brokerage under the supervision of a broker. Time requirements vary.
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