I am a real estate major, and I don't intend to graduate and sell homes like others do. I want to get into heavy scale real estate investments and the like. I also want to go to law school after that and see how the combination goes. But I still dont' know what will make me a unique realtor from others who did not have a BA in it. Pls help. Thank you
I'm an economist, who is also looking to buy in the Seattle area. Realtors have a pretty bad track record when it comes to predicting the Seattle market. They are out of touch with the current reality as well. Housing prices in Seattle have usually ranged about 3.5x income. That changed in 2001, and especially in the last few years got out of hand, nearing 5-10x annual income depending on the area. That's a bubble, and until prices come back to reasonable levels that people can afford, housing is a bad, bad investment. I wouldn't even consider buying for another year. The one caveat is that if you can find a nice house and can convince the owner to depart with it for a DEEP discount (say, 25 percent off the current price) you might consider it. By the way, your realtor is on drugs if they see signs that the market is coming back. There is absolutely NO data to back that up. Also, prices will probably flatten out for a while at some point. They aren't going to magically spike up. You'll be okay if you wait to see if prices have stopped dropping.
The difference is your degree. In other fields, having the appropriate degree can enhance your salary and make you more promotable. In the real estate investment field, I'd imagine it will be an advertising tool. I have a 4 year degree specializing me to work in this field, unlike other real estate investment advisors who haven't bothered to take advanced training. That sort of thing.
I sell real estate in the Atlanta market and also have a friend that did major in real estate in college. Other than the 4 year degree that no one can take from you and can be used as a tool for advancement in your life as far as employment there is no difference having the degree or not in this business. In selling real estate you are still required to achieve the license, maintain your continuing education, and maintain the minimum requirements no matter if you have a degree or not. Good agencies will offer, in most cases, free classes to train and keep you updated on how to be productive and update you on changing laws. Our better real estate reps never completed/attended college. You can have all the education in the world on real estate but you have to know how to communicate well with others and market yourself and your agency in order to be successful, period. Be successful, also, in writing good contracts that leave no holes while representing your client, buyer or seller. Good luck and happy selling.
