Career change - worth getting a real estate license?

Question

Hello all,

I've had an interest in real estate investment for several years now (began learning/researching as a college freshman, now approaching 3 years that I've been done with school) but due to practical/financial limitations, have not had the opportunity to begin investing yet.

I am currently working in agriculture as I graduated with a B.S. in essentially livestock science with an industry emphasis as well as an A.A. in small business/entrepreneurship. Due to a lack of relevant jobs in this industry/area and the industry having an unfortunate standard of severely overworking and under compensating employees, I'm considering pivoting and pursuing a different career path for a time, especially as I studied business in college.

Given my longstanding interest in real estate, I am considering getting a real estate license and doing that for work for some time. I'm wondering if and how this might be beneficial in any future investing I may do, or if it could actually be detrimental in some ways I haven't yet foreseen. I do have an actual interest in real estate as a career and feel that I could excel as a realtor, but would like to hear some experiences/thoughts from other people. I feel like real estate agent has become an almost trendy job in recent years and have seen so many posts/comments about people working in the industry that I almost would tend to believe the industry was saturated if it weren't for the number of job ads I've seen recently.

Thoughts/experiences/advice appreciated, TIA!

Michael K Gallagher · Answer

I don't know your personal situation or financial situation but I'd say the number one thing to do before jumping into real estate full time as an agent is get your own finances in check and ready to support some volatile months during the first 12-18 months. I'd also recommend using your current W2 if you can to set yourself for success by buying a multi unit, if you are able to, and living in one side to reduce or eliminate your own living expenses.  I'd say if you don't have your license at this point thats fine, buy it anyway with another trusted agent or maybe with an agent you admire and would want to work with in the future.

Regardless, if you are intentional about moving into being an agent and understand that, at least in my opinion, the best producers all have one thing in common...they have put in years and years of daily consistent actions and have a certain amount of discipline to honing their own craft and skill just like anything else.

And there is nothing wrong with still working while you study and get your license and maybe get your first couple deals.  But I'd say to also put a hard timeline on quitting and moving over, trying to do this job part time is just way to challenging in my opinion.  Its got to be full-time to be successful.

Matt Payne · Answer

Simple answer: If you work hard (doing the little things consistently) and do what 80% of the agents DON"T DO then you will be successful. (spoiler alert) It's not hard to do that. Secondly, look into a local Keller Williams office and see if they are up and running with KSCORE. Essentially a free pre-licensing program that will get you to the test without upfront $. Throughout the prep and class you can "feel" if it might be something you want, if not then just pull the plug no harm done.

Rachel Ewald · Answer

@Jared Hottle

I have actually considered some sales rep positions as I know they can be great opportunities. The issues I've been having with this are 1.) general lack of agriculturally-related sales rep opportunities in my area (which is what has been leading me to consider sales positions outside of my current industry) and 2.) relevant jobs open currently tend to require X number of years of sales experience, that I do not have (unless you count the typical retail jobs I held as a teen which most employers, understandably, do not). Excuse my ignorance, but would land sales not also require a real estate license? I'm not well versed in what differentiates land sales from selling real estate in the housing market as most real estate agents do.

Thank you for your input, I'll definitely take your suggestions into consideration and continue looking into relevant sales positions as that seems to be a common suggestion.

Jordan Fiore · Answer

It is entirely worth it if you can believe in your self and continue to grind for the first 12-18 months. It would be smart to possibly start with a team and get a part time job that is 10-20 hours a week to help pay bills. I think the part time job is quite crucial to be able to stick with Real estate. There are fees and costs that come with it. If I did not have a part time job when I started I would have most likely quit but each person is different. You want to be a full time agent for your clients and the part time job allows you to do so. Best of luck with everything and hope my input helps!

Brandon Goldsmith · Answer

As a few others said, I would try and get your finances in check because the first year can be pretty unpredictable. Also on the same note, there will never be a perfect time for a career change and always will have a reason not to do it. If you are committed and in it for the long run then it should be worth it. There are a lot of agents but it really isn't that hard to beat out most of them if you stay consistent. @Rachel Ewald

Rachel Ewald · Answer

@Lucas Gillmore That's a great suggestion and I have considered various sales rep-type positions. The challenges to this that I've seen are 1.) honestly very few jobs of that type in this area related to ag, and 2.) many of them require X years of experience in sales that I do not have (unless you count the typical teen jobs in retail that I worked, which most companies, understandably, do not), which is partially what has driven me to consider a non-ag sales job.

I actually find it curious how few job openings, in general, I see in agriculture & adjacent fields here in Ohio considering how much of the state is agriculturally dominated. Then again, a lot of farms are family-owned and operated with as minimal hired help as possible, and I think a lot of the hog/poultry farms might order & have products shipped straight from suppliers due to biosecurity concerns, as I never saw a salesperson on the hog farm I worked at for a short time.

I appreciate the suggestions and will definitely continue to look into those as possible options!

Kristopher Cress · Answer

I would say first and foremost, definitely save up some money before you jump into anything risky. Although, I will say there is something to be said for doing something you have a passion for. It sounds like you have had interest in this field for awhile, and passion can take you as far as you want to go as long as it is genuine. There is also so many different ways you can get into this field as well. Just find one that you think you would enjoy the most!

Lucas Gillmore · Answer

Rachel Ewald

Sorry as you can imagine I have been busy working in Ag my role is I sell seed to farmers. if you want experience in ag sales I would tell you to drive around and find a Pioneer/Kent/Channel/NEMO or any other feed/seed farmer dealer Pioneer and Channel would be my first choice if I was you. And ask if you can help you are trying to break into Ag sales and would be willing to call on prospects for them. If they turn you down move on to the next. I am sure someone will be willing to give you a 100% commission tryout. It doesn't need to be fulltime and you can cut your teeth. Just start the ball moving. FYI seed and feed are the most competitive sales to get into in agriculture but also the most lucrative.

Ali K. · Answer

@Rachel Ewald

I’m not an agent but I’ve been doing RE investment for the last two years while working full time in a demanding (but relatively good pays) job and it’s been quite good so far. I would consider house-hacking or rental property investment as a starting point to become (near) rent free, then a career change may be a bit easier.

Dwayne Poster · Answer

In regards to job postings for Realtors, what you need to understand is that a Realtor represents cash flow for a broker, and unless you don't pass the interview, you represent monthly income, even without sales. So yea, brokers want Realtors regardless of market conditions.

Agriculture is typically run by family entrepreneurs and you have business ed. Stop looking for a job, and start looking how you can help farms attain thier targets. Modernization, automation, management, sales, acquisitions, equipment broker, health, crop animal sciences.  You are on the doorstep of an industry that generates more cash flow than most others.  Step back and look around, the options are endless.

Career change - worth getting a real estate license?

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