Should I, or do I, need to go to college to get into the real estate business?

Question

I've been thinkin about gettin into the real estate business with my dad, since he's already in it. I'm a junior in high school, so I know I would have alot of learnin to do. But would there be alot of helpful classes I'd be able to take in college? Did u go to college for real estate? Where did u gain all ur knowledge relating to real estate?

Any of yall who answer, will be very helpful for me.
Thanks. =]

Answer 1

ASK DAD! Personally I think it is essential since the no one is likely to entrust the marketing and sale of their biggest asset to an uneducated kid. Besides, college is a ball!

I didn't go to college for real estate, but I didn't start out in real estate either. Don't pass up the opportunity, go to college. After all you can likely do both at the same time.

Answer 2

My grandmother owned a Century 21 Franchisee, I am not sure what classes cover real estate in college maybe like an investment or business class of some kind.
You can make pretty good money in real estate in several different ways so I would say since you already got the edge and find intrest in it start having dad teach you the ropes!
SOme companies offer complete training also!

Answer 3

You're young. No need to rush into the real estate business. It may be where you end up eventually but first, go to college and study business in general. Learn about business management, bookkeeping and accounting. Learn about marketing and advertising. Get a well rounded understanding of business and then, if you're still interested you can take the courses required to get your real estate license. After a few years of college it will be a piece of cake for you. : )

Answer 4

This turns out just like the worst time to get into truly property. I believe a institution schooling will also be extra bendy sooner or later, it's required for among the exceptional jobs in the market. You can continually take the truly property license publications at the part, and take the examination. However, I might believe the institution schooling gets you forward in any profession, adding truly property.

Answer 5

No need to attend college, just a real estate school. Does not take that long, approx 1 month or so.

Answer 6

Actually, Century 21 offers in office classes and will help you get your license. The catch is, you have to hang your license with them for 1 year in return. The cost is or was free. Check with them first. Believe it to be a 40 VCR coarse you watch on a TV in their office.
Good luck.

Answer 7

yes

Answer 8

YES FOR ONLY $1,500.00 YOU TOO CAN SELL REAL ESTATE! This is the great lie all realtors are told! Yes, for $1,500.00 you can take classes (at least that’s the cost in Birmingham, Alabama) to learn everything you need to get your license, but not much on what it really takes to sell homes.

Most experienced agent do not want to bother with newer agents. When I first started, over two years ago, I was with a different company (Birmingham’s largest real estate company at the time) and I remember asking some of the older agents for help. While a few would help, for the most part, I was told, you just got your license, you should know what you’re doing. Now I’m with Keller Williams Realty, North America’s fastest growing realty company, and since it is the only realty company with profit sharing, every agent in the office has a financial gain in how well that office does, so everyone is more then willing to help out, but more on Keller Williams later.

First we will talk about what it takes to be a realtor, then we will talk cost – for if you do not have what it takes, you will be throwing money away, no matter what the cost is. If you have what it takes, it is well worth the cost!!!

You should be out-going, not afraid to talk with strangers you meet in the mall, stores, etc. You can’t get all bummed out with rejections, trust me, you will get allot of rejections in this line of business. You also need to be a good teacher as well as a good listener. And most of all, if you can remain calm when the world around you is going to pieces, you will make a good realtor.

If you read some of the questions and answers from Yahoo, you will see EVERYTHING is the realtor’s fault, and allot of times, this is true, not because realtors are bad people or trying to pull something (although some do). It is because the realtor did not take the time to explain to the Buyer/Seller how it all works, then if something goes wrong the client has no clue and feel they have been cheated.

Also, before I forget, EVERY realtor, works for a Broker, that is just how it works, but you will learn that in realty school. In Alabama you can not be a Broker until you been an agent for at least two years

COST

My first year I invested a total of $5,000.00 (Spread out over the year) over and above the cost of my classes and I only pulled in $3,000.00. For a total net income of minus $2,000.00 plus or minus a few hundred. This year, so far, I spent $2000.00 and made, to date $30,000.00. Next year I plan on doing even better!

As you can see, it cost money, but the rewards, well, they speak for them self!

Most real estate companies have what is called OT time (Opportunity Time). The way this works is, you are the agent of the day. You sit in the office and answer the phone. You mostly end up setting up showings for other agents listings, but if a call comes in with someone looking to sell or buy a home, you get that lead, remember, it is only a lead, it is up to you to turn in into a sale or listing. This is only an OK way to get clients. The BEST way is through marketing yourself. That is mainly where the bulk of my budget goes, to marketing myself.

If you remember earlier, I said each Keller Williams agent has a stake in how well the office does, I think, most Keller Williams agents are helping other people not just because of the profit sharing, but because this is just the type of people Keller Williams attracts! Keller Williams culture and belief is

WI4C2TS
W – Win-Win – or no deal ( make it a winning deal for everyone)
I – Integrity – Do the right thing
C – Commitment – In all things
C – Communication – Seek first to understand
C – Creativity – Ideas before results
C – Customers – Always come first (This one I truly believe in)
T – Team Work – Together Everyone Achieves More (another one I truly believe in)
T – Trust Starts with Honesty
S – Success – Results through people

Keller Williams has some GREAT in house training on how to get listings and market yourself, just to name two of its many classes. Best of all, if offers passive income through profit sharing!

Real estate is not for everyone, but it is a good business to be in, and yes, it is not a job, nor truly a career, it is a business you need to work and grow. True, you work for a broker, but you work as an independent. Most Brokers could care less if your selling or not, you pay a fee just to be in the office on top of your commission splits, so the brokers are not loosing any money on you. The most common split is 60/40 – you keep 60 and the broker gets 40. Some companies will let you keep 95 to 100%, but the monthly fee is like $1000.00. Each office is different. Keller Williams offers 70/30 splits for new agents, (Monthly fee, called a desk fee is $30.00- once again each office is different) then after you paid a set dollar amount for the year ($19,500.00 for my office) then you get to keep 100% for the rest of your anniversary year. You can, however start off at a 90/10 split, BUT then you must guarantee to pay that set amount. So for me, If I took the 90/10 split and only earned enough to have paid $17,500.00 in commissions to my office, at the end of my anniversary year, I would have to write a check to Keller Williams for $2,000.00. It is for this reason a 90/10 split is not recommended for newer agents, in fact, some Keller Williams brokers will not let new agents get the 90/10 split for that very reason.


Interview with Keller Williams Realty
The only real estate company that offers profit sharing
GREAT company to work for, GREAT training on how to market yourself, in any market.

If you would like more info on a career with Keller Williams Realty, go to my web page http://www.pauld-kw.com and on the top you will see "Sell a Property" Click on that, then click on "A career with Keller Williams" I think you will be very impressed. You can also e-mail or call me and I will be more then happy to talk to you about Keller Williams or send you some more information. [e-mail]
If you do look into Keller Williams because of the information and end up going with them, remember my name when they ask, who would you like to be your sponsor. Just say Paul D. Dziedzic.

BEST of luck with your new career!