I want to get into real estate but I dont know my options. Someone told me I need a license and others say I dont whats the truth? I called a school in my town and they said it will be 595 bucks to take the course for 3 weeks, and whats this about finding a broker that will sponser me for a year? It's begining to get confusing. Whats the best advice for me ...please help I really wanna do this
It depends what's your objective or aim? There are so many peoples to give advice but its up to you choose appropriate advice from them and go for that..You may become real estate broker and agent..You first need a license..
Yes, you will need a broker that will sponsor you. You might start with a company like Century21 or RealtyExecutives. Yes, it will cost at least $500 or more to get started. You need to know what you're doing, you are required to take ongoing classes and will need to pass a state and/or national exam. The good things in life are never simple but can be accomplished with dedication and integrity! Good luck!
Real estate laws are state regulated - so each state has their own rules you must follow. You will need to work for a Broker, as a broker is the only one who is allowed to be paid commissions on a sale - you will then be paid by your Broker - less the Broker's cut.
OK, question by question, here are some answers. First, while licensing requirements are different in each state, in every US state, you must have a license to sell real estate, except for real estate that you personally own. Depending on where you live and the education requirements for your state, $595 may or may not be reasonable. Ask around, talking to both agents and brokers at real estate agencies in your area. The broker is the person that is responsible to the state for how a particular agency is run, including the actions of the agents working there. Normally, brokers are experienced agents that have gone through additional training. Remember that the basic real estate courses (in any state) only teach you enough to be dangerous. This is why the states all require real estate salespeople to work with a broker, who (theoretically) oversees your work and ongoing training. In getting into real estate, you should also know that almost all of us are independent contractors. What this means is that there is no base salary and no benefits. Remember that most new agents do not survive through their first license period. You should be prepared for at least six months with no income whatsoever, but a lot of expenses in getting set up as an agent. If, at the end of your first year, you've made as much as you've spent, then you've done better than most. Don't misunderstand me here. This business is great fun, and a person can eventually make a very good living at it. But it's also a lot of hard work, and it takes time to build a client base. If you cannot deal with those two facts, then this isn't the right line of work for you.
What's your objective for getting into real estate? If you're getting into it as an investor to buy and sell for yourself, then, no you don't need a license. If you're getting into it as a business for the purpose of servicing others to buy and sell their real estate, then, yes, you will need a license. As a sales agent/independent sale contractor, you will need a broker to sponser you in getting a license since all commissions paid are paid to real estate brokers. Regardless, do your homework first before spending your money. Know what you're getting yourself into. If you're objective requires a license, interview several brokers and talk with their agents. Agents are famous for moving from one broker to another. Find out what brokerage firm they left and why. If you'd rather buy and sell as an investor, talk with those who are doing it...successfully. Check to see if there are clubs in your local area where they congregate monthly to exchange ideas. Then you could maybe take it a step further and ask another Yahoo question to the once-upon-a-time real estate agent and investor asking why they got out of the business. Learning from other people's mistakes are always your best lessons. Hope that helps. Best of luck!
