I just turned 20 and Im sick of college. I want to get my real estate liscense but the terms and aggreements are so confusing to me. Im not to familiar with real estate. I need help or advice on how to go about getting my liscense. I dont have money for the books either. Any advice or references?

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Eden Gonzales

What state are you in?

Finish what you started. If I've learned anything in life it's that. I can tell you how to do it but it takes a lot of work and dedication on your part. I myself am studying and find that there is a lot to learn.

The first thing you should consider doing if you can't afford the books is go to the book store. Barnes and Nobels, Border Books, those kinds of places and study the material. Especially the State Exam Prep Test books. Some Real Estate agency will help you get your license but you have to pay a small fee around $200. I on the other hand took the home study courses and am in it for about $400. But there are others ways and if this is really something you want to pursue then go for it. Where there is a will there is a way. Stay positive and continue looking for ways to succeed. Call Real Estate Agencies and ask questions. Then do what they tell you to do, find the money somehow. Education is not for free, you know that.

Good luck!

First check your state's requirements. In Pennsylvania, we require 60 hours of classroom training (can be taken at local Community Colleges and some large brokers also provide the training). It cost me $285.00 for the course.

Then it cost me $56.00 to take the state exam. Then it cost me $67.00 for the actual license.

Mike
Pittsburgh-PA

Hi, Im in California. Coastal



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Eden Gonzales

Hey thanks a lot for your help. I will definetly do all of the following advice you gave me. Its just so tough for me to learn all the terms and laws. I just turned 20 and have never thought about doing real estate until 3 months ago when I got the job as a real estate assitant. Thankyou for your help.

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Eden Gonzales

Wow, I heard there were lots of fees, but I guess more than I expected.

I'd check for your state requirements as well. Here in NH a new license requires 40 hours of classroom training ($299), $100 for the exam and then $70 for the license....most of the training material was included in the course, but if you wanted "extra" study material, you had to pay....

Good luck, I personally didn't find the exam that challenging....but I did sweat it out!!

Hey lovelyeden,

Not to discourage you, but or should I say. BUT! Do your research understand that you are getting into real estate as an independent contractor. No one is there to pay the bills for you. After your licensed where will your cash be coming from. What brokerage are you thinking about hanging your license with? What’s the split going to be? Where is your farm area?

As a full service transaction broker if you work hard at prospecting for sellers and buyers you should start earning within 3 to 6 months.

I am asking you these questions this way because I truly feel as you are getting your license you need to be building your business. Think about where your business is going to come from and is it going to be profitable. Allot of agents take advise from their brokers and start working their friends and family for business. Well, unless you are friends with some high net worth individuals those first deals you get are going to reflect your average marketplace at best. The majority of the time it is less than the average. Do the math if your average is 3% per side on a $140,000.00 side you earn $4,200.00 now take away any franchise fee's, splits and expenses and divide the net by the number of days it took to get paid say 60. Would you want your career based on this number? Or do you want to go after the $400,000.00 deal?

Keep us informed of your progress!


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Tim Leffler
Support and Services www.beyondsales.com

If you are not earning in the top 2% of your market place, visit www.beyondsales.com to learn how!
[This message has been edited by timleffler (edited 06-03-2004).]

[This message has been edited by timleffler (edited 06-03-2004).]

Hey there lovlyeden......

I am i California....

I just receive my license and only recently signed up with a Broker....that took me some time after asking question on thir forum. So, you've come to te right place. There are plenty of folks here that are knowledgable and will share with you as abundently as they could. Stay awhile and you will see what I mean.

So, here is my 2 cent......there are variations on the licenseing fee but that depends on the Broker offering the course. I paid $199.00 through C21, but that was based on a discount at the time. Prudential, I believe, offer the course at $300.00+, that includes all the course material. Check you local area paper, especially on Saturday and Sunday paper. Then, ofcourse, there is the cost for finger printing....I paid $75.00 and that was through Livescan which was suggested by DRE. When you pass the test, the cost of the license is $145.00. In addition, depening on the broker you choose, after you recive your license......plan on spending $300 - 500.00 on a monthly basis. Somehting else to consider if you decided to continue in his field is that you may not see a check fo six month....this is not always true, however. So, if you have financial responsibilities and no other means of supporting yourself.....work for a bit and save before plunging in.

The brokers will not tell you this before, during or after getting your license, unless, you ask. So, please ask and get specifics before you sign up with anyone.

Also, you said that you are tired of school....I can't remember the exact verbage you used....I guess I can scroll up, but I've come down too far... well, being in the business of real estate involves a lot of work, sweat, tears, depression....even to the most enthusiastic of person.

Research,research, research.....good luck.

I hope I can give some helpful advice...this is more my personal experience, but just from the bit you gave in your post, it seems may have been a quick decision. I don't want to be negative or give unsolicited advice...but I chose this over college also, so I feel obligated to get on my soap box :P

If you did your homework and have talked to people in the business, then I suppose my suggestion is to get a good real estate book, and some practice exam books. I didn't read my text, and I went and passed the exam in 40 min, but most people I know found it difficult, and many have taken it multiple times- 62 bucks a pop.

I am 20, and working on my second year as a Realtor. I could not afford college, and even though i'm sure I could have found a way to stay in, I grew to hate and resent it. (btw, I worked my entire lower education to go to a great school and be the best...) The fact that I was not really going anywhere (you are kind of stagnent in college) irked me as well. I am very abitious and I have always had the goal of running my own business.

A family friend got me interested in becoming a realtor. I then did a lot of research to make sure it was something I wanted to do. First things first- get as much information as possible. Real estate is not a get-rich-quick-scheme. It is hard work and expensive. EVERYONE is trying to get into your pocket.

Anyway..I am kind of rambling, but maybe I can give you some perspective...

I have been doing...so-so.

Before anything else- it costs a LOT. I did real estate full time and worked part time, and I was scraping by. I am now doing real estate full time and things are improving. If you want this as a career, you put everything into it.

I took the class, while working full time and going to school. I moved back home, and joined on with local firm with a big presence. Another thing- if you don't pick things up quickly or you arn't prepared to do a lot of studying- don't even bother.

Soon after starting, I had the office's top agent offer to mentor me. Rule # 1. Go at it ALONE. I went with a firm that gave a ton of training and a ton of support. Do the same, and if you decide on this, don't get wrapped up with another agent. She wanted a free assistant...and I won't go into details, but I got royally screwed. There was no reason for me to work with her, and I come across "experienced" agents all the time who know squat. There are a lot of idiots in this business.

Do it yourself, do anything you can think of...even if you don't think you know what you are doing- just pretend and then get a lot of behind-the-scenes help.

I love my job, now that I am independent and using my own ideas and going at it, things are really picking up- FAST...

just some general tidbits about real estate-

There are a lot of wolves in sheeps clothing. Watch your back- no matter now nice and helpful they are.

99% of your clients are INSANE.

Everyone wants to buy a new house- most won't.

MONEY MONEY MONEY. NOT in your pocket.

If you don't have money for books, I doubt you could hack it. That is not meant to be mean, but it is true.

I thought I had it all worked out- a nice estimation from my broker, a budget...that's not how it works. Only thing with me is...I don't give up, and now that is paying off.

Are you prepared to pay a LOT of money, and not have a reliable income- for an indefinite amount of time?

Are you prepared for a lot of let downs?

Are you prepared for giant, blown up, framed pictures of penises that convey with the house, raining roaches when you turn on the lights, and pill popping pharmacists...? (not all of those are my stories, but i've had my share).

Things are starting to get better for me, but in the beginning, it is a lot of stress and a lot of money.

I am sorry for the ramble. I love what I do, but it took a lot for me to get here.

You have to be tough. There is a very high turn over rate in this line of work. Don't get into it if you arn't prepared. I wasn't...but i'm stubborn.

You pay for you class, licensing fees, the test, realtor dues, mls dues, advertising costs, e&o insurance...and i'm sure i'm not thinking of it all!

Sorry it is so long and so disjointed!

Thanks a lot for all the good and INTERESTING info. I like the quote about the wolves! Had to write that one down. Thanks again.



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Eden Gonzales

It is definitly "interesting"

I don't want to seem negative- if you ever have any questions, you could im me or e-mail me...

You know what now a days people mix negative with reality. I appreciTE YOUR REALITY check. I am new to all of this and its better to be pre-warned than to have it bite you in the ass!! Thanks again!

Thanks for seeing through all of that!

I really do love what I do...but most of the people who started with me or after me..they were either "fired" (you are self employed, but your broker can get rid of you), or they decided to get out. I would say an even mix...

It can be really rough at the start. I went through a period where I got really depressed and wanted to quit- after I detached myself from my "mentor" and realized I had no business. I finally picked myself up and put my nose to the grind stone- 12 hour plus days. Like I said, it is starting to pay off.

Whenever we get new agents in, I just tell them to get an open house, start knocking on doors, go to a crowded place and talk to people...just do anything.

If you decide to go for it, do anything and everything to get business. It should pay off in 3-6 months depending on how hard you are working and what your market is like..

You do need a lot of money for start up, though...so that could be a problem..

Im 21 and when I first started it was quite confusing to but I finished the class with a good mark. Too bad I bummed out on state though. But any way, read as many books as you can about real estate whether class room or investment. The main thing is understanding your key words and knowing the definitions and being able to comprehend what they mean. Always awnser the questions at the end of the chapters. And ask your teacher questions and also see if he or she has one of those companion books with the flash cards in it. Also check out these books "The Essential Dictionary of Real Estate" Lisa Holton and "How to prepare for Real Estate Exams" Barrons . Im no pro as I just flunked my test, but this will surely help

Hey thanks a lot. Can I get these books at any general book store?? Hope you pass your test soon! How many questions is it?

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Eden Gonzales

Yah well the more I am learning about it the more I know. I am definetly starting to save my money. Do some people take out loans for this?? Because I dont see why not, its definetly a good investment. I hope?? Thanks for your knowledge. Im still wondering about the framed penises, that scares me!!

Barnes and Noble has a lot of books. When I took my class, the instructor suggested some books that she had to order- and they were not in the book store.

Some people do take out loans. I don't know how difficult it would be, though. If you try that route, make sure you have a sound business plan.

I don't know whether it would look like a good investment or not. This business has a turnover rate, so that might hurt you when looking for a loan.

You definitly see some crazy things when you are showing property. It can be really embarrassing. I consider it part of my job to make sure a house will look the best for when it is being shown...little things make a big difference. I couldn't believe that the seller's agent didn't say something about the picture...or in one where you flip on the lights and roaches start raining down...