Becoming an agent?

Question

Hello, I am currently an 18-year-old entering college who aspires to become an investor later in life yet I understand there's a lot for me to learn. I was thinking of becoming an agent to learn the process deeper and build up capital for my first househack within the next few years. I need capital and experience and this was just one way I thought to achieve it, any suggestions?

Paul De Luca · Answer

It's a good idea! Being an agent will teach you a lot of important skills like sales, negotiating, marketing, and more. Plus, you'll become more familiar with your local market, inventory, and clients. By working with other real estate investors and building up your experience, you will definitely become a better investor and be able to apply your knowledge and experience to your own investing pursuits. I know that being an agent has made me a better investor.

Like @Nathan Gesner said property management is also a good avenue to explore for a W2 job and great experience in managing property (landlording). A W2 job will likely make it easier for you to obtain financing for your future house hacks. Perhaps you could do both?

Nathan Gesner · Answer

You can learn what you need to know through self study, listening to podcasts, and interacting in forums. It's free and takes just a few months or less.

Sales are easy to get into but it's hard to make a living. It can also be very time-consuming to learn, and it will only teach you how to buy sell. You won't learn anything about investing or managing investments. If you want a job that will help you as an investor, get into property management. Solid paycheck and you will quickly learn what makes a good rental, how to manage rentals, policies and procedures, and much more.

Lynn McGeein · Answer

@David O'Brian make sure you understand all the costs involved in maintaining a license or possibly find a broker who pays them all for you if that’s even available.  I pay an annual broker fee, small transaction fee (for E&O insurance etc), MLS fees for access and key lock systems, Realtor fees (which are higher than you think with both national and local), my own sign riders and sone marketing.  Most of those need to be paid whether or not you’re selling and earning, so research first.  In this market, I’d make sure I had connections lined up, like joining an established team.

Hunter Stoudnour · Answer

Hey David,

I am becoming an agent is a great idea. The bottom line is that the more knowledge and experience you give yourself now, the more likely you will be able to apply it later down the line. As a young individual with more time than money, I think its a great option. If you want to learn more about the investment side, you should focus on working with investors and investment properties.

Jonathan Greene · Answer

You aren't going to get capital from getting your RE license at this age, but you will gain valuable experience just walking properties. Access is the reason to get your license. Access to the MLS and access to homes that are vacant to see. When you get your license, you join a brokerage where there is an agent who is also an investor and works with investors. It doesn't matter what brokerage, you want to find the person you want to be around. It's a great idea to do in college with limited cost and downside.

Marcus Auerbach · Answer

Anything is possible, but being successful as an agent under 30 is incredibly hard, because clients usually don't pick agents that are much younger than they are.

Always sail with the wind, it is easier.

Getting into sales at a young age is a great idea, but I think you'll find it much easier (and make more money) doing something where your age is not in your way like flipping couches, washing driveways or selling lawn services. If you want to get into RE then work as an broker office admin or for a property manager!

Cory King · Answer

@David O'Brian Do it. Knowledge is power and worst case you'll discover it's not a career you want to do but have a better understanding for how it all fits together. Courses online are relatively cheap and there's some brokerages like kw that have offered free online courses with no obligation to join afterwards. I'm part of a network w/ my brokerage that focuses on RE investing. Happy to chat sometime if you want. Been an agent for almost 6 years and it's been a game changer for my investment journey.

David O'Brian · Answer

Thanks man, helps a lot.

Jawei Kuo · Answer

Hey David! I like the way you're approaching this! I'm 19 and going into my second year of college this fall. I went the same route as you, studying for my real estate salesperson exam over the course of the previous summer and fall, eventually obtaining my license over winter break. Great way to gain experience and ensure you're an expert in the local area, whether its your college town or your hometown that you intend to operate your business in. Additionally, it's helped me understand the transaction process significantly, preparing for when I do take the leap into investing.

Hope this helps, shoot me a message if you'd like to chat or have any questions!

Becoming an agent?

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