Real Estate Training: More than Just a Job

Real estate may not seem like a good career move presently. With an economy that has gone south on a long vacation and with foreclosure rates at an all–time high, real estate probably looks like the last place you would want to be. The question is do you really think that the current state of things will remain forever? The economy will rebound and people will begin buying real estate again. In fact, some people are going to make a killing in real estate, so now just might be the time to get the training you need to be a real estate agent.

Training

Licensing requirements will vary from state to state, but one constant is that you will be required to complete 60 course hours of classroom work before you can take the licensing examination. The course work must be completed with an accredited school that is authorized by the state licensing board. While in class, you are considered a real estate trainee agent.



From there, the requirements generally increase. For instance in Texas to become a licensed real estate sales person you must complete the above 60 hours in addition to another 150 hours of course work on various aspects of the real estate profession. These are:

• Law of agency—30 hours
• Law of contracts—30 hours
• Additional core courses—30 hours
• Core courses and related acceptable by commission—60 hours
  

All of these courses come with fees, as do the licensing tests and background check you must perform before you can become licensed. Overall, you can expect to pay a minimum of $1,000 for all of the courses, tests, and licensing fees.

Once you have completed all these requirements you have an ongoing responsibility to continuing education; approximately 18 hours per year.

Real Estate Agent

Now that you have jumped through all the hoops and have your real estate license, some agencies will want you to continue training on their particular office procedures and such.

The next question likely on your mind is, “Now what?” You are licensed and affiliated with a real estate agency in your area; the money should start flowing in right? Not exactly. Being a real estate agent can definitely be a lucrative career choice. You will make hefty commissions on every house you sell. The key to your success is going to be learning as much as you can from a solid mentor .

Mentor

A mentor is a must-have for a newbie in the real estate field. They will know all the ins and outs of the business, and with their help, a new agent can avoid many pitfalls. More than that, they can help build confidence. A good mentorship relationship should provide some if not all of the following:

• Training on filling out contracts
• Role playing to build confidence
• Closing the deal
• Appointments and how to handle them
• Previewing a home—find the potential problems first
• Niche marketing—focusing on a specific type of real estate
• Filing
• Goals and realistic expectations for your career
• Niche Markets
  

Many real estate agents find that they are drawn to a particular type of property. Look at Donald Trump. While he is not an agent, it is clear the type of property he likes is not single-dwelling homes. Grand buildings and accomplishments amaze him.

You may find a particular affinity for farms. Maybe livestock, equipment, and land are your forte. If so, that is great; work to your strengths. The list of potential niches in real estate goes on and on: office buildings, homes, apartments, and even warehouses are all possibilities. Now that does not mean the only property you can sell is in one of these specialties, it just means that is where your strengths may lie.

Eco or Green Property

Recently a new niche has come on to the playing field, that of the eco-friendly property. With all the news about global warming and our dependence on foreign oil, it is little wonder that building and selling environmentally friendly buildings is an “in” thing to do.

Eco Brokers and Earth Advantage are both tapping into this market by offering education to real estate agents about green housing. Both offer courses aimed at training agents about what constitutes an eco-friendly home or building, teaching the lingo, and much more. The great part of these courses is that not only are you learning what may be the next wave in real estate, but also the courses will count as part of your required continuing education.

Income Potential

This is the one area of real estate that is hard to put a figure on. There are many variables, and one of those is your drive. The more you want it the more likely you are to be successful at it. Another variable is location, location, location. This cute saying applies to your potential earnings as much as anything else is. The median income of the area where you live and the area’s potential growth are both important factors.

Selling

Selling a home to a first-time buyer and watching their faces light up when all their dreams have finally come true is priceless. The commission is nice, but it really cannot compare to aiding a fellow human being in their pursuit of happiness. Real estate agents have a wonderful job; it can be trying at times but the rewards are worth it.