There are many ways to get into the real estate business in different roles. Like other industries real estate is vast and includes brokers, agents, investors, appraisers, home inspectors, builders, developers, mortgage loan officers, direct lenders, property managers, contractors, closing agents – and many others too.
Today we are talking about how you can get into the real estate industry and get started in real estate as a real estate agent.
Agents fill a critical role. They help sellers get their homes and other types of properties sold. They also help people looking for homes and properties find what they are looking for so they can buy it and reach their own goals.
As an agent you can choose to focus your work with buyers or with sellers or even work with both. You will learn all about agency laws and rules as part of your Principles of Real Estate Course. This is a course you must take to be able to get your license and to give you the most basic fundamental understanding of the business of real estate.
The requirements vary by state – just google real estate license requirements for your state – find the official regulatory agency that handles it wherever you are and go spend a little time looking up the requirements.
Most states have online courses you can take as well as live in person eyeball to eyeball classes. Which is better depends on you and how you learn. I like both, but I prefer the online version because it provides the most freedom and flexibility and is often less expensive too. Check out The CE Shop and see what they have available for you in your area.
In essence real estate agents are facilitators of connecting sellers and buyers.
To do that you must learn marketing skills – and such skills are NOT part of typical basic agent training. Your initial basic training is truly designed to do one primary thing – help you pass your exams to get your real estate license. Beyond that, you have a great deal to learn if you want to actually achieve success in real estate as an agent.
There are other courses and training you can take (online and off) and there are mentors who will help you – if you choose the right company. There are also coaches you can hire on your own if needed and desired, not to mention countless books, articles and other resources that can help you too.
You should also be aware that after you complete your training, meet other requirements (such as background checks, fingerprints, etc.) and have your license you can NOT practice real estate alone on your own.
You will be required to hang your license under the authority and supervision of a BROKER for a period of time.
That varies by state but in Virginia its 36 out of the last 48 months (as of the time of me writing this – but always check current rules and your rules for wherever you are). That means in VA you would have to work under a broker and complete several other classes and tests and then take your brokers exam… and then only can you go completely out on your own if you wish.
And you may or may not wish to do so anyway.
There is a TON of compliance and business-related back-office stuff that the brokerage must do and maintain records for. As an agent they handle all that for you so long as you are affiliated with them, and today there are ways for you to even build your own sales team within the brokerage. One way to think of that is as a brokerage of your own within and inside another brokerage – though not from a technical and legal standpoint, very much so from a practical standpoint.
That is a very attractive option – especially with the RIGHT brokerage partner. Reach out and get in touch with me if you want to know your top three choices there too.
Let’s Recap Your Steps So Far
- Do your homework and research in your state/location and find out requirements for licensure
- Choose a real estate school (online or offline or combo) and enroll
- Complete your Principles Course (as may be required by your state/location)
- Research and select a real estate brokerage to affiliate with (Talk to me first!)
- Activate your real estate license
- Get initial marketing training/mentorship/coaching (included with a good company and team – otherwise find it on your own at your own expense in most cases)
- Get to work – take consistent daily action and begin closing deals, making money and helping people