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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?
@Lucas Carl thanks so much for that insight!
@Joe Alford thanks so much for your input it’s much appreciated!
@Blake Van Ness thanks so much for your input and encouragement I really appreciate it !
@Aaron Nannini thanks so much for providing that way of looking at it! I think that is a great plan!
@Jeff Morelock oh wow I never knew that. And thanks so much for providing your input and that suggestion it was much appreciated!
@Jordan Hannes thanks so much for that insight! And thanks for sharing your personal experiences! And I think that is very true about smart brokers seeing talent over a degree.
@Storm S. Thanks so much for introducing that idea to me! I think is still need to do more research on commercial re bc it sounds great!
@Jordan Lucas. You don't have to have a College Degree, but some gray around the temples and crow feet around the eyes has an air of authenticity and experience.
The tough facts are more than 50% of the people getting into Real Estate Sales last less than 1 year. Of the remaining, another sizable chunk is gone by the end of year 2. It can be a tough tough business to get started on, especially as it's mostly commission. No Sales = No Money!
Look for Agents with a Real Estate Team or Group, and ask them for the opportunity to join their team. It's an excellent way to get some mentoring, some leads, and experience before venturing out on your own.
It's not difficult to pass the RE Test, learn the mechanics of Residential Sales, and (In Texas) it's basically a fill in the blank type of contract. Where most people fail is in creating the relationships and client base to continually produce leads and sales that lead to even greater success.
Good Luck and don't take NO for an answer - if that's your dream!
@Jordan Lucas smart thinking Jordan, I love your ambition! But real estate investing's not rocket science! Take that college money and invest it in your first investment property instead!!!
Cheers to your success warrior!
@Jim Cummings thanks so much for your detailed and thought out response, I appreciate it a lot. And I really love your explanation as to where people are separated from successful and failures!
@Bevla Reeves that’s a great idea, I love it! And thanks so much for the encouragement!
@Jordan Lucas a degree is awesome for knowledge and not necessary for real estate
@Jordan Lucas a degree is not necessary. Right out of high school, I became a motorcycle roadracer. Progressed to earning my Expert license and competed at National and international levels. But racing is a young man's sport and retired at the ripe old age of 25 yo at the end of 1979 season. 1980 I decided to sell real estate w only graduated HS. Worked for the 2 biggest RE brokerage companies in L.A. giving me the required 2 yrs experience required to get brokers license.
Opened my own company, grew and grew... Became president of my local board of Realtors, Realtor of the year, etc. etc. My last year selling full time, I sold more RE than anyone in my 550 member board.
2 companies a RE and a mortgage brokerage companies. 50 agents and loan agents, 2 locations etc. So for selling residential real estate no college required.
Now for large commercial and multi-million dollar projects a diploma might be helpful and impress a client if you went to Harvard or Yale. BUT... I hired a CPA w Harvard diploma and he wasn't anything special. He had the gall to call me, pick my brain and then charge me for his time. I reminded him he was asking my advice and he owes me for MY time, not the reverse. My hourly rate was double his... I had a couple of MBA's working for me and they were worthless...
So NO... no diploma needed. After I closed operations and took a year off to travel the country and go rockclimbing and alpine mountaineering (I guess I needed More adrenaline rush), I was hired by Marcus & Millichap one of the largest commercial brokerage companies in the country. I swore I'd never have employees as I hated owning the companies and just loved selling.
@Jordan Lucas
Jordan, I took my real estate course in high school. Find your local academy and figure out how long it will take you to complete the course. Then when you find that out, for example I took my course when I was 17 and 10 months. It took me 2 months to complete the course so on my birthday I took my exam and obtained my license. I’m now 19, about to turn 20 and I’m averaging about 7 closings a month and now teaming up to invest into some properties (and it’s only getting better). I’ll tell you my honest opinion is that you are going to pay way too much for a degree that doesn’t mean jack s**t and will teach you nothing. On top of that you will waste your time when you could be learning from a mentor and making money. I will warn you, get ready to be around a bunch of old folks who will laugh at you for even trying. It definitely was hard for me, but now I’m laughing at them. You have a huge advantage. Don’t go to college please.
@Andrew Monaghan thanks for your input! As an agent do you have a degree? And if so how has it helped you?
@Darrell Lee thanks so much for that, especially about your journey, it was much appreciated! And thanks for the advice and sharing your knowledge about employee's and some with degrees! Do you any advice specific to selling residential and commercial real estate, as it seems yo have excelled in those fields?
@Jordan Lucas I'm a complete noob so take it with a grain of salt I guess. But I think a hard work ethic can make up for anything you would lack in education. I have 3 single families and I dropped out of community college twice.
If I can do it then anyone can.
@Alex Savanovic wow thanks so much for responding I really appreciated it! Your points are very valid and I love how you backed it with personal experiences
@Jordan Lucas Hey Jordan, I believe you are wondering what degree would be the most useful for being a real estate agent. I would have to say that you really can’t beat a finance & accounting degree. Learning the fundamentals of finance has been a huge advantage for me and has allowed me to make that transition into commercial real estate.
You’ll learn the marketing strategies and psychology of the business by just simply working in it. You’ll quickly realize if being a Realtor is something that you want to do to achieve your goals and if you want to do Residential or Commercial. I mean, imagine if you sold Real Estate throughout college while working towards your Finance & accounting degree? It will be extremely difficult to dedicate the time and effort it takes to be successful in RE but man you will learn a TON by just applying yourself and you will also have 4 years under your belt.
Considering the fact that you’re on BP you probably have an interest in RE investments, therefore finance would be most applicable. You’ll learn everything else by just gaining RE business experience. It’s hard to sell RE at a young age but I did it. It paid a living wage but nothing more throughout college lol. When you get into the business you realize what it truly takes to run a large operation. The education you get through it though is priceless.
@Sam Shueh Sam, with all due respect, you don’t have to be a certain age to run a sustainable real estate business. I know a lot of people that did it at a young age and did not make a ton of money early but earned a living wage. I feel like that struggle at an early age with dealing with rejection and being discredited is a priceless form of education for every agent. Being young with no resources or experience just means you have to work that much harder to achieve the same result as someone else with more resources and experience. It’s most certainly doable if someone is willing to put in the work.
@Andrew Cornstubble thanks so much for that info and it makes a lot of sense and congrats on those acquisitions!
As a realtor and a college graduate. I would say your biggest value is a degree in communication, business, marketing. I personally waited to get my real estate license and worked in public service for years. It was great when I finally took the leap into real estate. People management and motivation is all you need to learn. A degree will help, but it is not necessary, if you ever want to accelerate into brokerage level, economics and business classes will help!
@Ryan Beasley that was such a great response and I really appreciated it and that makes a lot of sense, thanks!
@Audrey Barr thanks so much for that response it was very helpful!
@Jordan Lucas
Get a credit card, build credit. Get a job, buy a house with a mortgage below market value, fix it up and remortgage and get a heloc if you can, take cash out and buy a rental property and repeat...