Starting A Career In Real Estate
Working as a real estate professional is an extremely rewarding career. As an agent, your basically the head of your own small business. Perks include schedule flexibility, a challenging field with new obstacles to overcome every day, and great money making potential (if you’re successful).
How Do I Get A License?
In CA*, you have to complete 3 pre-requisite courses before applying to take the test. Real Estate Practices, Real Estate Principles, and an 3rd course (which can be chosen from 5 options). You can also skip that third class if you took an accounting or finance course in college (you’ll need to show your transcript).
From there, you can submit your application to the CA Bureau of Real Estate and wait for your test date. The test takes a couple of hours, and there are services that will help you study leading up to the test. If you pass, you’ll stay licensed in 4 year increments.
Choosing Your First Brokerage
Back in 2016, I wrote an article for Inman News about this. Check it out here: https://www.inman.com/2015/04/09/how-to-choose-your-first-real-estate-brokerage/
Tips For A New Agent
After you’ve passed your test and chosen your brokerage, it’s time to get to work. I know that I mentioned “schedule flexibility” in my opener, but be prepared to grind your face off during the first couple of years. More than 80% of new agents do not make it through their first 2 years in the business.
-Open houses are great ways to meet potential buyer and seller clients, and they’re (basically) free to do. So if you lack capital in the beginning, hold as many open houses as you can.
-As of now, Facebook Ads are most under valued play in online lead generation available. You can create buyer and seller lead ads and start targeting homeowners who are likely to move soon. Curaytor is a company that assists agents with Facebook lead generation and more. I read their blog often for case studies on which types of ads work the best.
-Find yourself an investor (or 10) that renovates (flips) houses. Investors often are ready to purchase deals in cash with quick closes, and will let you re-list the home once its ready to go back on the market. This is a great opportunity for 2 deals every time. I wrote an article on this topic last year.
-Try to stay knowledgeable and relevant. Read Inman News, 1000Watt Blog, Curaytor Blog, etc.
I wrote this article for Day 8 of my #30DaysOfRealEstate campaign. If you enjoyed it, please drop me a vote in the San Diego Union Tribune BEST OF contest. Here is the link: http://www.sandiegouniontribune.com/bestof/sd-bestof-real-estate-htmlstory.html
*This article includes information regarding obtaining your real estate license in California. If you live in another state, check the regulations for your state.