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Once you decide to pursue your real estate career, you will need to complete a certain amount of educational real estate training and take a state exam. The laws vary from state to state, so you should investigate your state's rules first. The educational requirements vary as to the type of real estate license as well, depending on whether you're seeking a career as a sales person or broker. Most states also require licensees to take post-licensing continuing educational courses. There are several different options for schooling as you consider this career path.
Numerous accredited real estate schools offer classroom courses as well as online courses for licensure. Prices do vary, so you should check around. The courses generally run from $200.00 dollars to $500.00. The best way to find a list of accredited real estate schools is to check with the Department of Real Estate in your area. Some larger real estate brokerage companies also own their own real estate schools. Taking a course through a brokerage company real estate school is a good way of obtaining employment later on within that company.
Many junior colleges and universities also offer real estate courses as well as degrees in real estate law. Paralegal schools also have programs in real estate law. However, in order to obtain a real estate license, most states require that you take the specific educational training courses that meet that state's requirements which you should investigate. Any additional training may be applied to post-licensing requirements.
After you have obtained your real estate license, most real estate brokerage companies have some form of formal training for their new agents, especially if you are selling residential real estate. The brokerage company may have a mentorship program where you would work with an experienced agent on your first few deals. This may require that you split a portion of your commission earnings with your mentor, but the training and experience are well worth the money.
It is a good idea to study with a mentor because like any business the way you learn is on-the-job. Also, since you are dealing with legal contracts, it is smart to work with an experienced and knowledgeable real estate agent to avoid any mistakes that may lead to legal ramifications or other costs later.
The other reason that working with a mentor is a great idea is that you build a relationship with another agent in your office. Many agents work together as teams. They complement each other's weaknesses and strengths. Sometimes one person is better at getting listings, and the other has better negotiating skills. Some people are good with paperwork. There are numerous forms and disclosures that need to be completed in a real estate transaction. Teaming up with another agent or your mentor can also be beneficial if you are selling property in an area that you are not familiar with. It is better to share a commission with an experienced agent that works that area. Each area has little quirks that only experts in that area are aware of. It could be as simple as a disclosure form that may be required in one neighborhood and not in the next. It is better to be safe than sorry!
So as you can see, there are many options available for schooling, as well as further training to secure a successful career in real estate.
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