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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?
Get your degree. Just don't go into much debt for it. Take lots of general math, bookkeeping, statistics, and finance courses, so you can work the numbers for proposed deals and learn how to compare properties. College is a great way to develop networking skills, both with other students and with their parents.
College also is an opportunity to get a well-rounded education. That helps with networking, and with just plain enjoyment of life.
@John Clark I appreciate your response thanks, that makes a lot of sense!
A degree has never been required for a license. Education may hold you back if your writing, communication skills, marketing skills, etc are lacking though. At your age it may also be hard for some people to trust your knowledge and experience level...
It depends on what path you want to take and limitations. Many avenues to take in Real Estate, some require a degree and some don't. A lot also depends on personality and hunger. A degree in a Major where you come out of the gate running and employable is also an option. You can do both!!
If you want to be a real estate agent, start at 18
If you want to be a real estate investor, go to college. Finance and accounting classes will teach you valuable skills for underwriting deals. In terms of the cost, there are countless ways to 'creatively finance' a college degree through scholarhsips, grants, and loans. Being able to find a way to pay for college will help you find a way to pay for your first deal.
Also, if you have any interest in going into commercial real estate instead of residential, you will need a college degree.
I was a finance major, real estate minor. And I now work in commercial real estate acquisitions
Ohio doesn’t require one for an agent. It does require an associate degree for a broker.
@John Woodrich that makes a lot of sense thanks for suggestion and sharing your knowledge!
@Anthony Rosa that’s a great suggestion, thanks !
@Megan Touton thanks so much for sharing your knowledge, I really appreciate it! And your suggestions helped a lot! How has your commercial real estate career been so far ?
@Jordan Lucas I've done a billion dollars in acquisitions, so I would say its going pretty well
Why not do both?
Go to school part-time and do real estate part time (you probably won't have a full week's worth of work to do when you're starting out anyway). Go to your local community college and take 9 credits per semester (most incoming freshmen take 18, so you'd only be going half the time). Community college is a great cheat code for obtaining a degree because most of the credits will transfer to your state schools and yet the credits cost a fraction at CC. So it's a pretty affordable option to start earning college credits, and it would buy you 2 years as a real estate agent to determine if it's the path you truly want to go down.
@Nathan G.
I spent tens of thousands of dollars on my college degree “education” which I have and never will use. It was a total sham but today they pump all these high school students minds with the idea they need college when I make more than everyone I graduated with, without my diploma or degree. I couldn’t agree more with your opening paragraph, so true!
Some states don't necessarily require a college degree, but they might make you take additional pre-licensing courses that would NOT be required of someone who has a college degree.
I believe Texas works that way (at least I know they do for broker licensing).
@John Clark is correct. A degree is still something you should get, BUT don't go into a lifetime of debt while you're getting it.
@Zachary Bellinghausen thanks for your additional input I really appreciate it!
Hi Jordan;
Depending on your state you don't need one. I would recommend doing both. Get licenses and go to school at the same time. I say this because some firms may show a preference to degrees. In commercial space that is very true. In an early post I think it was mentioned to get one focused on RE. If your goal is build a real estate business. Look for school/ degrees that can help serve your long term plan.
A college degree today is the same thing as a high school diploma in the '90s. Even the phrase "some college" can help more so than "no college". I say this from experience.
-Joe N.
I'm not the traditional salesman type, which I'm seeing get brought up here, and my background is in operations and, oddly enough, sales.
I do have a degree and that degree got me in the door to work under the top-producing Agent in my market and learn from him. Mixing that knowledge and ability with my fairly introverted personality let me find what I was good at selling: multi-family and commercial units! It's a numbers game and the Buyers/Sellers really tend to just care about nets and areas/margins on a longer-term, which I'm good at analyzing backing up. I worked as an inspector for over a year and that let me know the area and the neighborhoods very well, too. All of this to say: in this business, sometimes the stars align and you'll find a way, but pushing as hard as you can in that direction is the only way to make it happen. I do not think you need a degree but if you go that route, please be able to back up your skills 100% when speaking and never be dishonest to a client or another Agent (really, anyone for that matter) and you will see that your job is, effectively, providing a level of value that makes people want to come to you. I don't think personality has a lot to do with it because if you like sales, then you can do it as long as you add that value to your clients.
@Stanley Bronstein thanks for your input I really appreciate it!
@Joe Nickels thanks so much I really appreciate your input! I think a RE degree would be good for me as I do want a build a big real estate business. Did you finish some college and then regretted it later?(just being curious)
I would recommend it!
Originally posted by @Jordan Lucas:
@Joe Nickels thanks so much I really appreciate your input! I think a RE degree would be good for me as I do want a build a big real estate business. Did you finish some college and then regretted it later?(just being curious)
Right after high school only competed some college without even an associates degree. When I wasn't in sales kept hitting career ceilings. Then the recession hit and the ability to advance and interview became less. So I went back and did a program that was a mix of being able test out of courses (with full credit) and online. Many of the people in my online courses were in their fields/ jobs for 20 years but couldn't be promoted or grow in the fields because they didn't have degrees.
By the end I had moved in the real estate sales. My broker didn't require a college degree. Having one did help lessen the number or class room hours needed to get licensed. Even with the my states licensing having the degree made is easier to move from the sales agent designation to broker designation.
B.S in finance & potentially a Masters in Finance as well. That will train your mind in all types of business including the real estate industry. Cheers!
@Jordan Lucas If you want to work in residential real estate and college degree won't help. It's just not necessary - and you'll spend 4 years not being as productive as you could have otherwise been. As others have pointed out, other areas of real estate might require a degree.
I earned an associates in medical electronics and a bachelors in business administration by working full time days and going to both schools at night. That's a path to explore.
Having a degree is required for many other types of employment though. If for some reason real estate doesn't work out, having a 4 year degree IN SOMETHING MARKETABLE will give you a pathway to a backup plan.
That means something in the hard sciences, business, law, medicine, computers, etc. Not an English, music or arts degree - unless you want to teach.
Another alternative is to consider trade schools. Working as a plumber, electrician, carpenter or any of the trades means you'll always have a Plan B and it will give you a head start on evaluating properties.
Good luck in whatever you decide!
@Jordan Lucas, this is a great question and similar to questions I suspect hundreds of thousands of people your age will be asking themselves over the next few decades as the value of formal education is being seriously questioned. Our youngest son just graduated from college last week and is also a licensed real estate agent. He has several other passions and played football in college and grew and learned in other ways that I believe will serve him well. That being said, most of us agree that most colleges are severely overpriced these days, thereby making delayed gratification (the idea of paying someone else to learn for four years in hopes of making greater income on the other side like the old days) not as appealing except for specific professions. Someone used the word "narrow focus" earlier in this thread and to that point, if...after hopefully a long period of thought and consultation with family, friends, counselors, etc....you decide that being in real estate is truly your primary passion, then understand that, in the near term, you will be narrowly defined by others.
If your primary purpose for going to college is to be better equipped financially for the future, then I would personally advise getting involved in real estate immediately and forego college at first, then take classes as needed and when you can pay for them in cash. This REALLY comes down to your own drive, self-discipline, and PERSISTENCE. I believe 100% that with today's books, podcasts, internet sites, etc. you need little-to-no FORMAL education to become successful at real estate and if you spend those four years applying yourself to that trade, you will be WAY better off than most of your peers entering real estate at that time. If you decide to sit around playing video games half the day or partying all weekend, you might be worse off than going to college (unless you can at least pay your own bills with the RE income you do make.)
It is a VERY PERSONAL choice in the end and largely depends on you. I know a guy who tried real estate for a year, didn't like it and joined the Navy (4 years), and got all his education (Bachelor's and Master's) paid for and is hugely successful in finance. Lastly, if you have a scholarship on the table that covers the cost of school, then your thought process might be different as well. In that case, I would recommend leaning in the school direction, but taking the most specific coursework you can to meet your desired end-goals (as best you understand them at the time!)
...find a good brokerage with strong mentors...work diligently in ways that your peers aren't willing to...keeping an eye on how technology is changing real estate and embracing that change...and you will succeed immensely!
Good luck either way!
I'm pro-higher education. I live in California and attended a community college and transferred to a California State University for a B.A. in Accounting and a Master's in Public Administration. My father worked for a community college for 30 years and I've worked at one for 5 years now. With that being said, I don't recommend getting a degree in Real Estate. If you want to become an Engineer, Accountant, Medical Doctor and the list goes on then go to college. If your state allows it, start taking community college classes in high school, transfer to a state college, apply for financial aid (grants, no student loans if possible, if not possible subsidized loans only and pay-off immediately), apply for scholarships, do work study, become a TA or Tutor, and just minimize your costs at all "expense". I don't regret getting my degrees, in fact, I'm hoping to test for my CPA exam again to legally provide my clients with tax and real estate advice. I also want to eventually use my degrees once I reach a certain age (I can't knock on doors forever) to teach real estate at a community college. What I'm trying to say is don't haphazardly take courses at a college without a clear goal and path to achieve a bankable degree. If you want to become an agent or broker, take the minimum curriculum required to get your license in your state and test the real estate waters before committing.