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Updated over 5 years ago, 07/10/2019
College degree for real estate agents ??
I am 16 years old and want get my real estate license at 18. Real estate is my passion and I dedicate time everyday to learning about it. I’m not sure if I want to go to college because I think those years could be better learning directly in the business rather than a class. That saying I am willing to put in the work to make it work and far from lazy. Questions- Do you think a broker would hire an 18 year old without a degree? Do you have a real estate/business degree? Do you think you could have been where you are without the degree?
@Jordan Lucas
Why don’t you get your real estate license and then pursue the degree? I am a licensed agent, and I don’t have a degree, but I decided that college wasn’t right for me a long time ago. There are plenty of other ways to learn, unless you really want to get into big development, and even then, if you have the right connections, you can even do that.
@Jordan Lucas IMO it depends on what your future life goals are and if you feel motivated to get a degree. If you want to venture into commercial RE and work for a firm, a degree is usually required.
In my professional life, I had a real estate license but no degree. I was not eligible for further promotions without one. I was in commercial property management at that time and moved on to residential real estate because a degree wasn’t required.
I was successful without a degree, but that piece of paper (up to 3 now), is more meaningful to me than any pile of money I could have ever earned. Anyone who tells you that a degree “doesn’t mean what it used to” is only looking at a perceived financial benefit, not the intrinsic value you will gain from the experience. No one I know has ever regretted a higher education. Maybe the financial cost of it, but not the experience.
~Darlene Dodson, MBA
Jordan, you are still young enough to choose any path that life will afford. I believe college offers many unique experiences, -- networking opportunitites and (hopefully) educational enlightenment and if you don't take advantage of them now....it might be tougher (although doable) to get back to them later in life. You can get your real estate license at any time. Even while you're in school! As a parent who sent 3 kids to college (and incurred a ton of debt), there are ways to accomplish all of these things, without putting yourself into a financial hole. Some people have given you some great ideas here. Follow those leads! Use that same passion and energy to find a great college that's inexpensive (or free) and take advantage of the resources of "the system" to catapult your real estate career. Be entrepreneurial and creative in that system. (btw, a great place to start househacking with some roommates!) Good luck! Let us all know when you graduate!
Hello Jordan! Going to a regular college may not help your desire. I think having a an agent license might force you to say things you don't want to say. Concentrate on courses that are taught by people who have done what they are teaching. Focus on financial education and do that your whole life. Being taught by real and experienced people will help you keep more current on the things you should do. there's no telling who you might find there. It might be someone that can help you. Use a Team of people that believe in your mission and tell things or do things you do not know, like Attorneys and accounting consultants. Make a good first impression. Just do what is common in that area. Do not worry about any debt that still make you a positive cash flow investment. The more units per location is usually better. Be willing to work hard. Do not try to do everything yourself. Understand that most of things you have been taught are quite useless in real life. Be cautious of all salespeople. Good luck to you!
I personally disagree with @James Galla.
Real estate sales is nothing like trying to sell someone a car. There absolutely are inferior real estate agents in the industry just like any other industry. The average agent sells 7 homes in a year but yet top producers are able to sell hundreds in a given year. However, being a top real estate agent is all about providing each and every client - value, just like any other industry.
I don't believe anyone here can make the right decision for you. I hope they are able to provide pros and cons that allow you to make an educated decision yourself.
I personally decided to get a bachelors degree in finance. It has helped widen my abilities, expand my knowledge and grow my interpersonal skills. A good way to phrase it is it makes you more polished. My closest friends were those that I met during the four years at school. The downside is the bill that follows it.
I was able to mentor under an agent my senior year when I knew I was going to jump into real estate.
If you decided to jump into real estate now, feel free to reach out to me. A few words of advice on that.
- Work harder than anyone else. Our age is often looked at as a negative, however, if everyone of your friends and family have known you as a hard worker no matter what you were doing, there is tremendous value in that.
- Find a mentor. I would look at the top agents in your area and ask to get coffee with them. Find one that you have good report with and see if there is a place for you learning from them as you grow.
- Build your network. If you decide to go into any type of sales, knowing people will only help you provide value to more people. Don't be afraid to shake someone's hand and ask them what they do for a living.
Always happy to help. Feel free to reach out anytime.
- Jaylan Archer
@Jordan Lucas
I wouldn’t worry about it. So long as your state doesn’t have any requirements that you must have a college degree, then I can’t imagine a broker discounting you for that reason.
@Jordan Lucas
Although you don’t need a degree for real estate, I think a degree helps you understand the world we live in. You learn about different cultures, why one ethnicity doesn’t get along with another, accounting, political issues that effect real estate, social ills that effect people’s purchasing power, etc etc etc . It makes you a well-rounded person and can help you understand your clients a little better.
My only recommendation is DO NOT get into debt for it. I did and I regret borrowing money. My daughter just turned 20 and she’s working her way through college and plans on taking the real estate exam this summer.
Jordan go to school and study real estate development and finance. Find a Curriculum that focuses on commercial real estate. Commercial real estate will make you very wealthy.
@Jordan Lucas Nothing wrong w going for a license at 18. I would suggest, if you want to differentiate yourself from the pack, study Commercial Real Estate. That's an area where a lot of Residential Brokers typically lack in knowledge.
You don't really need a college degree, but it may help you if you study the right things. I got my college degree, only because I was a teacher, and use very little of what I learned. As I progress to bigger projects, I wish I would have studied more finance and accounting. I had to learn those on the fly, and still learning.
Get your degree:
- If you don't go into debt to pay for it
- Study finance or accounting
Good luck!
@Jordan Lucas. Whether you get a degree or not you should pay for an online education to get your real estate agents license. You will be taken more seriously after you earn that.
Sometimes a degree can open doors that would remain shut to you otherwise.
That does not mean you have to go straight to university from high school. Or that once you graduate you can't go back. My daughter just earned a masters in educational leadership at 37 yo.
I learned yesterday that spending $40 to join my alumni association would cut my car insurance by $270 a year. Wish I learned that sooner. AAA in case you wonder who.
@Jason L.
Great point! When your younger and not tied down as much, there’s a great opportunity to work and do school with less impact on your bank account and time. I’m 27 now, married and I have 3 kids. I wish I had at least gone for an associates while working when I had more time.
My degree is from the school of hard knocks.
Some professors in school like to teach theory and have never done anything practical in their whole lives.
One time my brother went with his son to a college class on business. The professor was touting all of this theory stuff. My brother said what does this have to do with real world business? The professor starting saying all of this technical mumbo jumbo. My brother said business is simple. Be the absolute best at what you do daily and work to improve and have integrity with business and personal relationships. If you do that you will be ahead of 90% of the businesses out there.
People have so many crooked companies coming at them all the time to huck their wares that when someone that actually is great at what they do and has integrity they flock to them like bees to honey.
- Joel Owens
- Podcast Guest on Show #47
@Stephanie Southerland that’s a good idea. I think mostly residential and maybe commercial. But I’m still open to exploring more of my options, thanks for the suggestions!
@Darlene Dodson thanks so much for sharing your insight! It makes a lot of sense and I get what your saying
@David Jack thanks so much for sharing that! And I couldn’t agree more, I appreciate everyone who has given me some valuable knowledge! Also I will definitely let BP know when I graduate!
@Michael Lewis Lee wow thanks so much for that detailed response. I am taking notes! I appreciate so much and your advice will be used!
@Jaylan Archer thanks so much for sharing that I really appreciate it! And I agree with you- I’m know did I post this for people to make a decision for me. I was trying to be open minded to all options and all perspectives! Also I love those tips thanks so much!
it really depends on your life vision, life purpose etc. If you just want to make money and will be content and practical with that and a comfortable life, being real estate full time as early as possible is probably the way to go. If you have much grander vision than that, such as being an influential person in the world much beyond real estate, such as politics, art, philanthropy etc, you definitely need to be exposed to the most brilliant and free mind in the world in many aspects as early as possibly, that probably means going to an Ivy League school or higher education is better as it will get you exposed lots of non real estate related stuff and shape your mind and vision for the world at a much earlier age setting foundation for your life vision early on.
@Marilyn Cuevas thanks for your input !
Originally posted by @Jordan Lucas:
I am 16 years old and want get my real estate license at 18. Real estate is my passion and I dedicate time everyday to learning about it. I’m not sure if I want to go to college because I think those years could be better learning directly in the business rather than a class. That saying I am willing to put in the work to make it work and far from lazy. Questions- Do you think a broker would hire an 18 year old without a degree? Do you have a real estate/business degree? Do you think you could have been where you are without the degree?
In my opinion, although college degree isn't necessary for a Real Estate Agent but I would recommend to take on business, finance and/or communication courses to give you a basic.
@Lisa Torres I like that advice so much and what you said is very valid! And that’s exactly what i plan to do bc I know the debt will hold me back.
@Rich Hupper thanks for that advice! Do you have any suggestions on being successful in commercial RE?
@Steve Mason thanks for that piece of advice! I have seen that to be a popular trend among suggestions and will definitely look more into that!