Common wisdom and economic data tell us that the employment market in the United States has rebounded. However many people in the workforce are finding that only low wage jobs are available unless you have an advanced education. Regrettably, the days of obtaining a living wage with only a high school degree seem to be ending.
Luckily there are a number of routes one can take to a better career through education. Going to real estate school to become a licensed real estate agent is one of those avenues. Agents have complete control over their pipeline and business. This can be a daunting yet very rewarding field. In fact in many nationally ranked studies real estate professionals consistently report very high levels of job and life satisfaction. Whether or not you should go to real estate school to become a licensed real estate agent depends on your personal drive and skills.
Do you have time to take real estate classes?
Much like attaining a degree from a University there are many different ways to become a licensed real estate agent. The vast majority of students take an accredited course before taking their real estate exam. Continued education will help aspiring agents to perform their duties effectively. A baseline level of knowledge will also ensure that students pass their licensing exams- without a license, you cannot work as an agent.
Do you have the capital needed for licensing, classes and setting up your office?
There are many expenses that you must incur before becoming a full-fledged real estate agent. The first cost for most people is real estate school. In many states, you are legally required to take and pass a certain amount of in class or online education to qualify to take your real estate agent exam. There are also fees for taking the exam and receiving your license from the state.
Assuming you have the capital to pay for these initial expenses you will need an office. An office can be as fancy or as bareboned as you desire. Initially, you can have a spartan office while you are growing your client list. Some other significant startup costs may also include computer software, sales leads, and lead management software. This is in addition to a computer and general office supplies. Some brokers may provide some of these items as well. This brings us to our next question.
What company/broker will you work for?
All real estate agents work under brokers. These brokers work hard to find the best and most motivated agents to work with. Brokers typically work on a split commission deal. This means that they receive a percentage of all sales you make through that brokerage. Different brokers work under varying compensation schemes.
In general, the higher the percentage of commission the broker takes the more services they provide. Some barebones brokers may offer little in the way of office space or sales leads but they will take a smaller commission. The opposite is true as well. When starting out many real estate agents like to choose a full-service broker but it depends on the individual agent’s situation.
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Will real estate school increase my earning potential?
Like many other facets of life, nothing is guaranteed in the real estate business. The nature of the business requires agents to put in a great deal of sweat equity before ever seeing the fruits of their labor. Some transactions can take months or longer. If you are a self-starter and can manage your time well good things will happen. Of course, sales acumen is also important. Your job is to act as the representative for buyers and sellers while selling yourself as well.
Can I work as an agent part-time?
The most difficult part of starting up your real estate business is finding new clients. Many people are unwilling to take a chance on a new agent so dipping your toes in the water part-time is a good way to build experience and trust while maintaining a steady income elsewhere. Part-time agent work is also a phenomenal option for stay at home moms, students, and other folks with odd schedules. There is also a significant population of agents who keep their licenses just for family and friend transactions.
Being a real estate agent is rewarding both financially and socially. Obtaining your license and becoming a successful agent is not easy. Those that stick around enjoy owning their own business and often make a very healthy living.
Here are a few of the options for becoming a real estate agent in Las Vegas, Nevada:
- Key Realty School: 702-313-7000
- The Real Estate School of Nevada: 702-608-8066
- ABC Real Estate School: 702-256-2801
- Las Vegas Real Estate Training Center: 702-212-2212