Real Estate Marketing & Beyond
One of the most common fields to launch a career in once you either graduate from school or enter the workforce is real estate. There are a variety of different career options to consider in this path, but the most likely sub-field for a person to begin their career in is that of a real estate broker. This career offers unlimited earning potential for those who are dedicated enough but learning how to be truly successful in this field will not be easy.
First and foremost, for those unfamiliar with the career path, a real estate broker is an individual who has advanced licensing requirements and is allowed to facilitate real estate transactions between a buyer and seller. Given their advanced licensing, they are allowed to open up a brokerage firm under which they can employ real estate agents. These agents make commission on their sales and pay a portion to the brokerage firm which is half of how brokers make their money.
As alluded to above, a real estate agent and real estate broker are two distinct paths despite common belief. Becoming a real estate agent requires fewer classes and the real estate exam itself is three hours, rather than four for a broker, along with 150 multiple choice questions. Real estate agents are not allowed to start brokerages and must be sponsored by a broker when they enter the field.
While a real estate agent most often handles single transactions that occur between a buyer and a seller, real estate brokers facilitate the smaller details of all transactions which come through their brokerage. They can also handle any tasks an agent can including marketing a home, writing contracts, and representing the buyer and seller. In addition to this, brokers are also allowed to move money in and out of an escrow account, mediate conflicts in a legal dispute, and employ agents.
The length of time to become a real estate broker is significantly different than that of becoming a real estate agent. Many people can become a real estate agent in as little as six months if they dedicate themselves full time to the required classes and studying for the exam. However, to become a broker in most states, you will need to have at least two years of experience as a licensed agent. This also doesn’t include the extra time required to take classes and pass the real estate broker final examination. All in, a person should expect it to take somewhere around two and a half years to become a real estate broker
Passing the real estate broker exam will first require passing the real estate agent exam along with completing the required classes. Starting with these basics, a person must:
After completing all of the above and passing their real estate agent exam, they must work for two years and begin studying the extra classes required (based on your state) to become a broker.
In terms of CA real estate continuing education, there’s a reason real estate is one of the most coveted career paths. In particular, there are four major tips that can help a person have success in this field:
One of the most important tips for having success in real estate is taking the time to network with professionals in the field. Use platforms such as LinkedIn to find others in your area who are in the field so that you can identify a network and people who can help you grow your success in the field.
It’s important to realize that real estate is not a get rich quick scheme by any means whatsoever. A person cannot simply make thousands upon thousands of dollars right away when entering the field, and it will likely take years to see success. Don’t give up faster than necessary when starting in the field.
Growing your success in real estate may require a little bit of financial capital up front which is an important factor to recognize. Whether it’s paying for practice exams, extra classes, materials for your journey as an agent, or more, be willing to take a financial plunge.
Finally, as a broker, you will inevitably be faced with failure at some point in your journey. Rather than allowing this to get you down, learn how to face it in stride and improve yourself over time.
No matter who you are, succeeding as a real estate broker is more than possible. Make no mistake, however, that dedicating time and effort is an absolute must. Succeeding as a broker requires networking every single day, but you should first focus on finding a mentor in the industry who can help guide you through the common pitfalls that people are typically faced with. By doing this, you can avoid making the same mistakes as those who came before you while also navigating your way through the field.
