Best way to become restate agent?

Question

So I have decided I'm going to get my real state license and work that business. Right now I own my own cleaning business and I have decided it is NOT want I want to do anymore it doesn't give me joy. Originally about 2 years ago I decided this cleaning business is what I want to do with my career. I can grow it to where eventually I'm not the one scrubbing the toilets and do all the things that come with scaling a business. Long story short things have happened that has made me want to walk away. Unfortunately I can't go without a source of income, and I don't want to go back to any other w2 job that wont help me get to where we want to be.

That brings me to being a real estate agent. (I don't know if any of that^^^ was relevant, sorry if it wasn't.) I have looked online and there are a couple different online class websites. How do I know which is best. I'm honestly not great with google, something I am working on. I have found some articles but I don't know if they are paid articles. Or they legit did their research. Any advise?  Or should I just pick one because they are all the same?

Also very new to real estate, just found bigger pockets about 3 months ago. Have always had the idea for doing real estate for income but had no idea it was actually doable. Just been soaking up information so far.

Dawn Brenengen · Answer

@Payge Myers Google "real estate prelicensing classes (whatever your city is)." Many schools are doing online versions of classes because of COVID.  Some classes may be offered through local brokerages who have education as a division of their company.  Others schools may be only real estate schools. I'd search for one that has good reviews and start there.  They are definitely not all the same.  The curriculum should be the same, but I've had awful teachers, and I've had great ones, which makes a huge difference.

Being an agent is definitely possible.  However, be prepared to go 6 months without a closing (and no paycheck).  You can start off working for someone else, doing more admin work like being an assistant, which would help you learn the business while still getting an hourly wage.

JD Martin · Answer

Get the cheapest schooling possible. Most of what you will learn/need to learn on a regular basis will be on the job. If you're not sure if you want to do it, see if you can shadow someone you know for a day that's an agent. See if you can provide cleaning services to an office a time or two in exchange for shadowing the office workers and observing.

Talk to people on here that are agents. @Dawn Brenengen @Mike Cumbie @Russell Brazil .

Russell Brazil · Answer

"Unfortunately I can't go without a source of income, and I don't want to go back to any other w2 job that wont help me get to where we want to be."

This statement might be a problem.  Huge earning potential in real estate, but its not uncommon to operate at a loss in the first 2 years like any other small business. I operated at a loss in year 1. If you are going to do it, you need operating income for the business, and money for living expenses to get you through the start up phase.

Dylan Kiley · Answer

@Payge Myers expect to pay anywhere from 1-3k before you can really settle down and start getting clients. Be prepared for a lot of unexpected costs along the way. Find a great company. I chose Keller Williams because I’m a fan of their training program and they offer “profit share” which is a form of passive income that agents can earn. Don’t pay too much for schooling. What you’ll learn is important but it’s not as important as a lot of the hands on stuff that you’ll learn from being an agent. Learn as much as you can so that you can hit the ground running when you get your license. Best of luck to you!!

Todd Pultz · Answer

@Payge Myers good luck to you on this journey. I’ve been an investor for about 7 years, but I got my license to be a realtor 6 months ago or so. I did not get it because I need that income, I got it because I was so frustrated dealing with other agents that did not understand investments. And.........to save all the commission I was paying out. It has surprisingly taken off without any advertising and Ive done 15 deals in the last 6 months as the realtor. That is solely because how active I am in the investing world and community.

My suggestion to you, learn about real estate investing and start networking. Any agent can teach you to sell a house, but there are significantly less that REALLY understand Investments. If you can speak that language and you know what to look for you will do well.

Everyone talks about bird dogging to find investments. I do this to buy properties, but I’ve also started doing it for clients. If you want to close a lot of deals, do not wait for things to come to you, go out and make it happen.

Leah Albanese · Answer

@Payge I’m about 1/3 done with my Real estate school and really like it. I bought two programs, because I hated the first one. I use real estate express. You can usually get a discount code, especially over this holiday weekend. I bought mine over a holiday weekend as well. Anyway-it’s been awesome!! I got the highest package, which is great. Comes with the actual text books, lots of pre-test quizzes for before your big exam and also help when starting after you get your license. It’s very user friendly. I. Spent 288. I think it’s worth it.

Ronald Grams · Answer

@Payge Myers

Put aside a good chunk of money. Check to see if the advertised cost is the total of one or both classes. I paid 220$ for the class only to be surprised that it was only 1 of 2 classes and another $220 was needed for the second class. Also, if you go the cheap route be sure to find out what volume of text book they use before purchasing online.

I did my classes, mostly, in person at a local agency school. It was 3 hours a class twice a week for about 3 months. Highly recommend that as it got me out of the house and away from distractions. I also personally liked having an in person instructor to talk about the testing and business with. The test is no joke. Study your vocab daily. One thing that really helped me was “Prep Agent” podcasts and YouTube videos for review.

Being a “Real Estate Agent” you need to work for a broker. So, although you are technically “Your own boss” the reality is you still need to work under a broker. This one kind of surprised me learning I had to pay monthly “desk fee’s” to an agency to work for them. Then there’s test fee’s, licensing fees, insurance (sometimes the broker pays this), criminal background report, and probably a few other odds and ends I’m forgetting. All total I’m probably in at least $1,000 this year. All that is before you’re even licensed and need to start paying for the stuff to actually start and run your business.

Interviewing and finding a broker is not hard after you pass your test. The test center sells your data to all the brokers in your area after you pass and for a week or so you will be texted, emailed, and called all day by many many brokers.

Shadowing might be hard, but not impossible. Most agency stuff is done from home, and open houses are currently a no-go. (At least in Pa.)

The biggest issue right now though is actually getting your license and testing. I’d check with a broker or an office and see if there are any issues in your area. I started in January and finished online in April. Because it’s a “State Issued” license and Real Estate is “non-essential” just getting to take a test, that wasn’t cancelled last minute, took until July. I signed with a broker in the beginning of August. The 7 to 14 days passed and I’m still with out a license. With no indication of when it will be processed or issued.

I’d start doing some research into classes, contacting local brokers, saving money etc for now. This way at the start of the new year you can hit the ground running and more importantly use all your expenses for tax write offs.

Payge Myers · Answer

@Russell Brazil yes totally understand that! Actually what I meant by that is I can’t quit cleaning and just hangout and be a stay at home mom and not contribute to the household. I will still be operating my cleaning business as I am doing my real estate thing until I get to where I can comfortably quit cleaning. My boyfriend also runs his own business and is around to pick up my slack. :)

Payge Myers · Answer

@JD Martin Thank you so much! I have brought the idea of reaching out and shadowing someone in my area to my boyfriend and he said they would just blow me off. I do think I'm going to go through with the idea. hopefully someone can humor me. :)  I was unsure if cheapest is best, but what you says makes sense! I have decided that this is what I want to do.

Mike Cumbie · Answer

Hi @Payge Myers

I'll echo the others.

As far as choosing a class I recommend an online one that is videos instead of just reading. The videos of someone talking allow you to do other things while attending. The licensing material is what I would call "Dry" and it's by the hour not the knowledge. Which makes it a bunch of fluff or repetition. So if I am going to hear the same thing 8 ways by 9 different people, I'd rather it be while drinking a Bourbon and coke, vs reading it then waiting for the timer to click before I can go to the next page. Just my thoughts.

I looked where I went and they don't have an Illinois version or I'd point you there. I think my online was like $89.00 with a groupon then a couple $50.00 tests. Something like that would be my first objective to complete before jumping in. For a couple hundred you should be at least where you can think through the best way to start. Without the license though you would just be trading one job for another.

The license course is just so you know the legalities and are at a "baseline". Actually selling and marketing etc will all be learned after on your own.

Good Luck!

Best way to become restate agent?

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