3 answers
Frannie
Student
Grundy Center, Iowa
3
Questions
Asked
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Would you recommend going to college and getting a degree before getting your licenses?
Would you recommend going to college and getting a degree before getting your licenses? #realtor
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3 answers
Tony Gallo, MSIRE
Facility Manager
7
Answers
Dallas, Texas
Updated
Tony’s Answer
Why not do both, simultaneously? That's what I did. You can use any profit from real estate sales, to pay your college tuition, if applicable. If you are planning to major in something like business, this will be a great compliment to your real estate career. Yes, it will be challenging doing both; on top of that I had two kids and a wife to feed. I will tell you that it is hard work but achievable and rewarding. Good luck!
Alasia Blankley - Keller Williams Realty - ATL
Real Estate Agent
5
Answers
Jefferson, Georgia
Updated
Alasia’s Answer
Hi Frannie, I agree with much of what Steven said. Real Estate takes a lot of hard sales work to grow your customer base in order to generate a steady stream of income. With that being said you can get your license within a matter of months, depending on how dedicated you are, whereas a degree will take years of course.
Additionally remember that once you obtain your Real Estate license you will be required to work under a Brokerage, who will charge you a fee usually monthly for you to work under them. So to start, you will have to pay for your Real Estate class and the exams to get your license. Then you will have to pay for continuing education to keep your license while trying to build your business and brand which will also cost. For example, you will need at least business cards, maybe some envelopes, paper etc. What I'm saying is that it will cost you to work in Real Estate from the very start and you may not be making any money immediately. So if you want to become a licensed agent, please remember you will be a business owner and although it is relatively simple to start this business it will cost you, just like it would starting any other business of your own. You should try to have a few dollars saved to INVEST in your business to get it off the ground. But it will be YOUR own business.
You have to be disciplined, because you won't have someone over your shoulder making sure you do what your supposed to. For example, if your not a morning person, like me, it could be easy for you to sleep in all morning and only work a few hours a day. Most likely, this will not result in a growing business, which means no income only costs. You are your own boss and only accountable to yourself, which is my favorite part, but also the hardest. Secondly, you must be comfortable with rejection. A huge part of this job is talking to people about your business and asking them to work with you. Calling people you may or may not know on a daily basis, and many times being told no. As a Realtor you are a Salesperson and you have to be comfortable with selling as well as the rejection and stigma that come along with that title many times. It's a numbers game the more people you talk to the closer you are to getting a Yes, but you have to keep pushing through those no's first. :)
I do have a degree, which I obtained first, and worked in corporate America for years before deciding to take the leap into Real Estate. It is not as easy as they make it seem on TV, I assure you, but it is rewarding. As with anything, success takes longer for some people than others, so if you are looking for a quick pay that may not happen immediately. Finally, I think getting your degree is still very important so I commend you for asking this question and trying to prioritize and make the right decision for your future.
Find out how much it will cost to start your Real Estate business in your area.
Educate yourself on what is required to keep your license.
Can you get your license WHILE you are enrolled in school? Maybe treat it like another course?
Additionally remember that once you obtain your Real Estate license you will be required to work under a Brokerage, who will charge you a fee usually monthly for you to work under them. So to start, you will have to pay for your Real Estate class and the exams to get your license. Then you will have to pay for continuing education to keep your license while trying to build your business and brand which will also cost. For example, you will need at least business cards, maybe some envelopes, paper etc. What I'm saying is that it will cost you to work in Real Estate from the very start and you may not be making any money immediately. So if you want to become a licensed agent, please remember you will be a business owner and although it is relatively simple to start this business it will cost you, just like it would starting any other business of your own. You should try to have a few dollars saved to INVEST in your business to get it off the ground. But it will be YOUR own business.
You have to be disciplined, because you won't have someone over your shoulder making sure you do what your supposed to. For example, if your not a morning person, like me, it could be easy for you to sleep in all morning and only work a few hours a day. Most likely, this will not result in a growing business, which means no income only costs. You are your own boss and only accountable to yourself, which is my favorite part, but also the hardest. Secondly, you must be comfortable with rejection. A huge part of this job is talking to people about your business and asking them to work with you. Calling people you may or may not know on a daily basis, and many times being told no. As a Realtor you are a Salesperson and you have to be comfortable with selling as well as the rejection and stigma that come along with that title many times. It's a numbers game the more people you talk to the closer you are to getting a Yes, but you have to keep pushing through those no's first. :)
I do have a degree, which I obtained first, and worked in corporate America for years before deciding to take the leap into Real Estate. It is not as easy as they make it seem on TV, I assure you, but it is rewarding. As with anything, success takes longer for some people than others, so if you are looking for a quick pay that may not happen immediately. Finally, I think getting your degree is still very important so I commend you for asking this question and trying to prioritize and make the right decision for your future.
Alasia recommends the following next steps:
Steven Kosanke
Biofuels and Biochemical Process Engineer
16
Answers
Austin, Texas
Updated
Steven’s Answer
Hey Frannie, good question. I am going to assume you mean your real estate liscense, since that was what you added as a hashtag. Anyways, there are definitely pros and cons of doing either one before or after the other. Let me explain:
Imagine you were to first get your real estate license, and work in the industry for a few years before going to college. Now, this can be a lucrative industry to those that work hard, but many people do not have a developed customer pipeline right out of the gate, so often real estate takes time to create a customer base and generate large paychecks. Now after 2 or 3 years, you have done well, and you decide to go to university. What are you going to do with that pipeline you have developed over the years? What if you invested in rental properties, but university is not local to the area. You would need to either sell the house, or hire another individual to take care of it when you're away. So the question is whether or not you are continuing the professional career you built up from the past years or you leave it behind.
Now imagine that you instead go to college and study business or engineering before you enter the market. Well, you definitely do not have as much disposable income going straight to university, but this is the path that most students will take. I personally decided it was worth it to continue my education all the way through, and took on student loans that I am currently paying off, while I am going to get my RE license in the short future. This way, I can work a full time job while I look for an optimal location to start investing my time into real estate.
I would recommend to you that if you have a good connection into real estate industry- someone who is willing to train and mentor you to become successful, then real estate is a great start. However, if you are just looking to turn a quick profit, it is really much more work than that, and going to college could provide you with a larger starting income after you complete your degree. Neither is really better or wore than the other, they're just slightly different paths.
Imagine you were to first get your real estate license, and work in the industry for a few years before going to college. Now, this can be a lucrative industry to those that work hard, but many people do not have a developed customer pipeline right out of the gate, so often real estate takes time to create a customer base and generate large paychecks. Now after 2 or 3 years, you have done well, and you decide to go to university. What are you going to do with that pipeline you have developed over the years? What if you invested in rental properties, but university is not local to the area. You would need to either sell the house, or hire another individual to take care of it when you're away. So the question is whether or not you are continuing the professional career you built up from the past years or you leave it behind.
Now imagine that you instead go to college and study business or engineering before you enter the market. Well, you definitely do not have as much disposable income going straight to university, but this is the path that most students will take. I personally decided it was worth it to continue my education all the way through, and took on student loans that I am currently paying off, while I am going to get my RE license in the short future. This way, I can work a full time job while I look for an optimal location to start investing my time into real estate.
I would recommend to you that if you have a good connection into real estate industry- someone who is willing to train and mentor you to become successful, then real estate is a great start. However, if you are just looking to turn a quick profit, it is really much more work than that, and going to college could provide you with a larger starting income after you complete your degree. Neither is really better or wore than the other, they're just slightly different paths.