Real Estate Agent · Livonia, MI · Member since 2016 · 43 posts · 8 votes
Hello All,
I just passed the Michigan real estate licensing exam this past Friday. I took the 40 hour course with the Michigan Institute of Real Estate. The test was pretty easy because the book provided by the class helped a LOT!! There a tons of fill-in-the-blank, multiple choice and true and false questions. There are also word matches and crossword puzzles. I did not have to buy any extra training materials to pass the test.
I am probably going to put my license into holding until I am in a better financial position to actually start practicing (Which should be about a year from now). If anyone has any questions about the exam, feel free to shoot them my way. This is not success story that most will be looking for, but it is one for me. Baby Steps!
I thought about this and there is a cost to hang your license. Your broker is going to want you to join there board, that'll cost some where in the neighborhood of 500. You will also have to get the MLS and that'll cost 110.00 a quarter. As for advertising start with a letter and a business card to everyone you know or knew letting them know you are a Realtor. Create or convert your Facebook page to just talking about real estate and spam people with news and facts on the market. When you start to get some closing send photos and talk about your success. Most of that doesn't cost money, it takes time. It will also take time for people to stop seeing you as an engineer and start seeing you as an agent so be patient. You will get spam calls from Realtor.com, Houses.com, Zillow.com, Yelp.com, every SEO company out there etc... if you want to try those good luck. I don't known of anyone that has had success though, most of the leads they provide don't work out. A better idea would be to pick a certain area, preferably small at first and one that you know the best and just dominate there. A couple blocks around where you grew up is the first place that comes to mind. Send letters, door knock, advertise, if you still have family in the area ask if you can put a for sale sign with your number out in the front yard. Get creative you run a business, your only limitation is you :)
Bryan it doesn't cost any money to hang your license. Pick a broker and use all the money you get the first year towards advertising that way by the second year you will be in a great financial position.
@Richard Ball Thanks man. I appreciate the advice. I have picked a broker and I have to just go up there and sign the paperwork. What would you advise as a good budget for advertising for new agents?
I thought about this and there is a cost to hang your license. Your broker is going to want you to join there board, that'll cost some where in the neighborhood of 500. You will also have to get the MLS and that'll cost 110.00 a quarter. As for advertising start with a letter and a business card to everyone you know or knew letting them know you are a Realtor. Create or convert your Facebook page to just talking about real estate and spam people with news and facts on the market. When you start to get some closing send photos and talk about your success. Most of that doesn't cost money, it takes time. It will also take time for people to stop seeing you as an engineer and start seeing you as an agent so be patient. You will get spam calls from Realtor.com, Houses.com, Zillow.com, Yelp.com, every SEO company out there etc... if you want to try those good luck. I don't known of anyone that has had success though, most of the leads they provide don't work out. A better idea would be to pick a certain area, preferably small at first and one that you know the best and just dominate there. A couple blocks around where you grew up is the first place that comes to mind. Send letters, door knock, advertise, if you still have family in the area ask if you can put a for sale sign with your number out in the front yard. Get creative you run a business, your only limitation is you :)
Congratulation @Bryan Barnette. There is no need to wait. pick a broker and dive in. Also Michigan Institute of Real Estate has fantastic reputation nationwide.
@Richard Ball Thanks for the advice man. It is noted and I will definitely do the mailing to everyone that I know. I don't really understand why a broker would make me join the board if I am not practicing though. I have been calling around though. I will hang it pretty soon.
@Fady Fareed Thanks for the advice. I have been considering starting now. However, I think I am more comfortable with waiting a year. I just have a lot going on right now. Also, I am looking to purchase my 1st property this year(Around June/July). If you have any leads that you could send, that would be great as well. I am looking to house hack for a year or 2 and then move out and rent the property out. Let me know if you have anything.
sure make sure you visit my site and subscribe to the buyer list so i can send you deals as soon as i get them. Make sure you be specific when fulling out the forum.
Congrats! Getting my license was the first step I took in my career as well and that may be the best decision I have ever made in real estate so far. Best of luck to you