How To Get Your Real Estate License in 2020
If you are reading this article there is a good chance you are already sold on “why” you should get your real estate license. I’ll assume you respect the opportunity of this trillion dollar industry and the benefits of having multiple streams of income.
Did you didn’t know that you don’t need a real estate license to invest in real estate? You can become very wealthy without ever having a real estate salesperson license. The benefit of having a license is the ability to make commissions any time you or someone you know buys or sells real estate. It also puts your finger on the pulse of the market. You’d be surprised by how many opportunities to invest fall on your lap just by being on the front line.
Let’s dive right into the steps that you need to take to get your real estate salesperson license.
1. You need to make a decision
The very first thing you need to do is you need to make a decision. It sounds simple, but you’d be surprised how many people sit on the fence for years thinking it over. Tomorrow is not a day of the week. Maybe isn’t a month on any calendar. Decide that you are going to do it and really do it. It’s not that big of a decision, and the worst case scenario is that you don’t finish or don’t pass which is no better or worse than where you are now. Fortunately for all of us, most schools have an accountability system in place to ensure you pass the class.
2. Identify your school
Identify the school that you’re going to go to. There’s a variety of different options out there. There are online and offline live-classroom settings that you can attend. You have to decide which environment is better for you.
Pros: Course can be taken around your schedule. That does not mean that the course can be completed faster than the allotted time that your state permitted to complete it in. In other words, if your state says that you cannot complete it faster than 12 weeks, whether you do it online, offline or in a classroom you cannot do it faster than 12 weeks. The online course is going to require you to spend that minimum amount of time online.
Con: Online class is a one-woman, one-man island. You are all by yourself. The truth is they say that there are forums that you can participate with and you have access to online questions. Yes, you are right there are types of online engagements that you have access to, which is great.
Pros: Being in the classroom environment, you will be sitting amongst your peers, talking to other people who are just like you, who are experiencing the same anxiety and fear that you might be experiencing when you embark on a new venture. Plus, you’ve got a live class teacher who is instructing you, who must be at least a real estate California licensed by the Department of Real Estate to be able to instruct.
The live class classroom setting is just like going to school. You are sitting in the classroom. You are amongst your peers, you have your textbooks, pen, paper, notes,or what have you and you have your instructor and your peers.
Cons: You have to attend the class around their schedule. You cannot do it faster than what the state permits and you then have to work based on their schedule.
3. You need to enroll.
Yes, there is going to be some time of investment. That investment can range anywhere from $299 to $600. I encourage you to make sure the package includes a crash course with it. Most crash courses are about a day or two, usually no more than 8 hours per day. This is your last opportunity to cram right before the state exam.
Once you are enrolled, your main goal should be completion. Have you ever purchased a gym membership? Do you remember how excited you were on your first day? Fast foward to 6 months. You either became a regular at the gym or you stopped going altogether. It’s the same principal here. Focus on finishing what you start.
Make sure that the school or online program you are enrolling in has some type of an accountability program to keep you in line. Our profession loses more talent to people who don’t complete the course than we do to people who don’t pass the state exam.
4. Your State Exam Application
Once you complete the course and get the required certificates of completion, you will mail your certificates with an application to take the state exam to the appropriate government entity. Yes. There is a fee for this. Were you expecting any less?
The state application will request some general and very personal information including any past crimes or felonies. Make sure you fill out the form to the best of your ability not leaving anything out and dicslosing anything that needs to be disclosed. We’ve all made mistakes in our lives and not disclosing any priors will result in a delay of your application at the very least. Trust me, they have access to everything there is to know about you and if you don’t bring it to their attention first, they’ll find it on their own making you look like you had something to hide. If you have a felony, put it on the form. If you had a DUI, a misdemeanor, unpaid parking tickets, whatever, put it on the form. Most state applications also give you the opportunity to include a letter of explanation as an attachment or addendum to the application. Feel free to use it.
Your application will also require fingerprint scanning. Yes. There is a fee for this as well. Most states use livescan operators but there are some that use old fashioned ink pads. Check the requirements of your State Department of Real Estate.
I strongly recommend that you turn in your application to take the state exam as soon as you complete your real estate course. Do it immediately. The likelihood of you passing the state exam is much higher when the information is still fresh on the brain. If you wait too long from the moment you complete the course to when you take the state exam, you reduce your chances of success. Pass the course and register for the state exam immediately after. Thank me later.
5. Exam Date
Once your application is processed and your state exam fees are collected you will be assigned an exam date. Make sure you study. I can’t tell you the number of people who assume that because they work in a real estate office, or at an escrow company, that they don’t need to study for the state exam. Don’t make this mistake. Even if you are well versed in the everyday activities of a real estate agent, what is required to get your license, and what we do on a daily basis are two completely different things. You have to study for the state exam or you will not pass. Period.
So long as there was no problem with your state exam application, you may be assigned a license number on the spot depending on your state. If you designated an employing broker on your application, you may be able to walk right out of the exam facility ready to work! How great would that be? Picture walking out ready and eager to start your real estate career! It’s possible and many do it.
Getting your real estate license isn’t as hard as you may think. It requires a small amount of capital and some of your time. The beauty of our profession is that when you compare the barrier of entry in real estate to the requirements of a 4 year degree or even a specialized degree, it makes what we have to go through look like a piece of cake. Even more amazing is that once licensed, you have the opportunity to participate in a trillion dollar industry where earning six figures in your first year is very possible. All it takes is commitment and a little hard work.
I hope you found value in this entry. Comment below and let me know where you are in the process. I look forward to hearing about your success!