Does anyone have a real estate license?

[brainsmile]

I have been thinking of getting one but I don't know if I'd use it for anything at this point. Any suggestions on how to prepare for it and such?

P.S. I'm in California

[oblongmelon]

WEll I know if you were in NY you'd have to take a real estate course, then if you got your license, you'd have to sell under a listed broker..unless you got your brokers license..if that's the case-you can open your own shop and procure your own sales...I've heard the course can be difficult..but if it's something you want to do-you should..I've thought about it a few times, since we used to buy up and refurbish and resell homes, but then again-who can promise you'd sell anything and make money???...you have to be a pretty damn good salesperson to really make the big bucks if you are on your own brokerage license.


````oh wait..don't you need to be on ignore????

[brainsmile]

I just have some idle time so I want to be productive.

[MrGreg]

Productivity is vastly overrated.

[psycho-]

my coworker does

[BrewMaster]

in CA you can read a book and take a training class. junior colleges offer classes quite often. then you take a test and begin pimping yourself out to real estate agencies.

[ufcrusher]

Yeah, I have been studying for it (supposedly). My friends wife who is has both her brokers and sales licenses told me to go with a certain company. I went ahead and bought the home study course.....studied it for a bit, then I stopped due to gainful employment. Then, being the slacker that I am, I keep picking it up and putting it back down. (Yes....I admit it) My Attorney's license allows me to go straight for my brokers license.

The company that I went through is called Anthony's school.

[cheapchinese]

you just need to study a course called "real estate principle"
.. after you complete it.. the instructor.. gives you a "certificate of completion"
with that you register.. to take the "real estate liscense" exam..
wait 2 weeks WALA... your liscensed

FYI - usually takes 4-6months wait when you reg to take the exam..
so hurry.. once you get the certificate.. register to take the exam.. you can study for it later...

There's also bunch of programs. you can find that has test prep q's out already..
its not that hard.. you just need i think 70% to pass the exam.. (maybe 80%) i forgot

[Kim]

We have an onsite RE school at my office.

One word of caution, you have to be VERY dedicated to make any money as an agent. Also, there is no steady income, and what you make depends on how hard you work for it. You have to also shell out money for advertising, unless you have a bunch of friends looking to buy or sell, you'll have to get your name out there everywhere to get clients.

Good luck!!

[BrewMaster]

WALA...

ok, i'm getting sick of this "wala" sh*t. it's VOILA! it's French. get it right. there is no such thing as "wala."

[cheapchinese]

lolz
sorry... didn't take french
i'll try to remember from now on

[DankNstickY]

and wala, brew snapped for something really pointless

[Hypnotist]

brainsmile...

Whether you choose to become an active agent or not, Real Estate Education and licensure is useful for many reasons. If nothing else, you'll save on, or participate in, commissions on personal real property transactions, paying for the educational costs many times over. You'll understand the process, and more importantly, potential pitfalls of buying and selling. Lots of folks find out too late about omissions and or commissions by their RE agent.

I received my Texas RE license many years ago. California RE law differs from that of Texas', but the pursuit of a license is probably similar anywhere. Be aware that a Cal license may or may not transfer to just any state (should you make a career of it and end up moving out of Cal).

First, determine the educational requirements necessary to sit for the exam. Call the State Real Estate Commission or licensing agency for details. Find out if college hours may be applied to the ed rqmts. There may also be continuing ed rqmts for some years after licensure... I think it was 3 or 4 years in Texas. See if they have a study guide of some kind and ask if they'll mail you an information pack... usually free.

Then, Find out if a "Sponsoring Broker" is required... probably is. Most brokers are happy to sponsor new blood. If they perceive you to be talented in the least, they have nothing to lose and everything to gain by you working "under their license"... they get a piece of your deals! If you don't have one in mind, I'd recommend networking to find a broker... your sister-in-law's dad... your neighbor's cousin... ITYKWIM. If you do choose to make a career of it, make sure the brokerage office is well established and VERY reputable.

The broker will be able to direct you to educational resources... I chose a private school rather than a college/university setting because it was faster... more in-class time per day. I also thought I'd absorb better with 6 or 8 hours of intensive training per day vs. 1 or 2. They will offer their own training materials, and the state should offer a study manual as well. These days, there may also be online resources available... not sure about this.

While pursuing the requirements to sit for the test, find a "test prep service" that has a good reputation for client success. I took a quick test prep course before going in and I was exquisitely prepared. First one through the door (tested at UTEP), and first one out the door... out of like 300 participants.
It was totally worth it! Passed first time. Many there were sitting for the 3rd or 4th attempt and more. Please don't let that happen to you. Oh, I also read the state study manual into a tape recorder and listened to a loop recording as I slept at night... I'm sure that contributed to my success as well.

Once you have taken the test, there may be a period of time before you know the results. I doubt they grade the test "while you wait". Keeps the examiners from being mauled by those that fail. In Texas, the sponsoring broker was notified only as to pass or fail. Once you or your broker receives notification that you PASSED and your license is ISSUED, you may begin your business... my broker fudged on this a lot. He wanted this boy workin' to make him some money ASAP, plus he knew I would pass easily... AND SO CAN YOU! :)

Note that receiving an agent's license is only the beginning and there are products you can choose to specialize in other than single family homes. BTW, the real money's in commercial/industrial. As with most of life, the real education comes with experience. I hope this helps. Feel free to PM with any questions, comments or concerns.

Brad

[brainsmile]

thanks much Brad

[BigJon]

I don't have one...but I've noticed that all the "elderly folk" that I know seem to go into real estate right after retiring.....gives them something to do I guess...and it beats working at Wal-Mart!

[Hypnotist]

thanks much Brad
My Great Pleasure!



Kim said:

One word of caution, you have to be VERY dedicated to make any money as an agent. Also, there is no steady income, and what you make depends on how hard you work for it. You have to also shell out money for advertising, unless you have a bunch of friends looking to buy or sell, you'll have to get your name out there everywhere to get clients.

This is very true... all indepedent contractors and entrepreneurial minded people take greater risk for the shot at much greater reward. :kaching: