As a full time real estate agent since 2008, this is the most common question I get asked - so this is my video addressing anyone interested in getting into the real estate sales industry. It’s been the funnest “job” I’ve ever had and I couldn’t imagine doing anything other than working as a Realtor and investing in my own properties on the side. Feel free to add me on Snap/Insta: GPStephan
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Benefits of becoming a Realtor:
-You don’t need a college degree
-You make your own hours
-You don’t have to be in an office all day
-You can wear what you want, for the most part
-You can directly control your income
-You can meet people you’d never ordinarily meet
-You get to see some crazy cool homes
-You can represent yourself when you buy/sell your own properties
-You get great tax advantages and tax deductions
On the downside:
-Many people fail
-Many people never make money
-Your income can be very sporadic (high highs, low lows)
-The hours can be odd/inconsistent
-Not everyone can handle working with people and multiple personalities
You don’t need any prior knowledge in the real estate industry, although you will need to learn a significant amount as you go along.
It also doesn’t take a ton of money to get started - as long as you have some savings to cover yourself until you start earning consistent money, which could be 6-12 months from when you start, the fees are manageable. The cost of actually becoming licensed could be as little as a few hundred dollars.
It’s also a great career to start when you’re young - since you have very little overhead, it’s a great time to begin learning and honing your skills. By the time your older, you’ll already have established yourself in the industry.
First step is getting your real estate license. The requirements vary from state-to-state, so google “How to get your real estate license in (your state here).”
You’ll usually need to enroll in a real estate course which is generally about 135-hours of education. You can take it online (what I recommend) or in person.
If you’re in California, I took my real estate license course from PremierSchools: https://goo.gl/IDVxCf (use code grstp for 5% off). www.AlliedSchools.com is also another great option, as is Kaplan for most other states in the US.
Once you pass these courses, you’ll sign up to take your state test. This is what you’ll need to study for - generally there are plenty of exam cram products you can buy, many of which are helpful.
Passing your tests and getting your license is easy. Really, really easy - the barrier to entry is very, very low. Actually making money is another story. Once you get your license, my BIGGEST recommendation is to work as an assistant to another Realtor. This will give you all the experience you need with very little risk, since you’re getting paid for your time. When you feel comfortable enough, you can go off on your own and begin working your own clients. Even if you have to intern for free to see if you like it, it’s worth it for the experience.
If you decide to go off on your own, you’ll need to join a real estate brokerage as a new agent who will oversee your salesperson activity. My recommendation is to first find a brokerage that works in the area that you want to work in. If you want to work in the high end luxury market, find brokerages that work in the area you want to be in. Make sure that brokerage also offers training and support - this is crucial as a new agent who’s still learning.
A good book I recommend is “the millionaire real estate agent” by Gary Keller. This pretty much covers everything you’d need to know! This can be bought here: http://goo.gl/TPTSVC
Thanks for watching!