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free_sprtd 06-10-2009 03:49 PM

Real Estate License?
 
Has anyone got one? If so, what's the process like to get one? I am doing some research online and it seems uber simple....not sure if there is really much guidance! lol Any advice or experience that you've had?

GypsyTally921 06-10-2009 04:04 PM

I work in real estate in California. I'm currently scheduled to take my license exam for the 3rd time next Thursday (yikes). I seriously recommend taking the licensing courses through a community college or online course where someone actually teaches you. If you are a strong self-learner, at least pony up a few extra bucks after you pass the class tests to take a "preparing to take the licensing test" class. I am a VERY strong self-learner and it's taking me three (possibly more!) tries. I almost passed last time, only missed it by 2%. But it's definitely frustrating and something I would have done differently, if only because some of the agents I deal with on a regular basis make me feel rather stupid for not passing.

Didn't see your location, and it varies from state to state (if you are even in the United States) so I'm not sure how much specific help I can give you unless you're in California.

I also strongly recommend with the market the way it is right now that if you do decide to pursue your license, it's as a side or personal thing, not to make a living. New agents are really struggling right now. I'm only continuing to get mine because I have my day job that's not commission based, and I have already sunk so much money and effort into it. They're also raising the licensing rates here on July 1st. If I don't pass this time it will cost me almost double more to get it later.

Feel free to PM me or post here if you have any specific questions, I'm more than willing to help.

free_sprtd 06-10-2009 09:13 PM

Hey that's great info thanks so much!! I live in Oregon and it would just be a side thing to dabble in.... We have a small business out here and we get by just fine, but my bf and I are very interested in real estate investment and I saw that it's not terribly expensive for the courses online. And it wouldnt be something I would be pursuing like right away either....kind of just ease into I guess? anyway, here is the site I found that appears to be legitimate. Are you pretty happy with the process or is it something you wouldn't recommend? sorry silly question. I will probably be back with more questions in a month or so when I'm ready to take the courses. Thanks again!

Joshie 06-10-2009 11:44 PM

Quote:

Originally Posted by free_sprtd (Post 325244)
.... it would just be a side thing to dabble in....

We're selling out house now. As our agent says, real estate is a full time plus occupation. You have to have the money to advertise up front. It's just not for the faint of heart.

free_sprtd 06-11-2009 12:24 AM

Very good point Joshie :)

I only got the idea because our real estate agent is successful, but they work as a team (wife and husband) and she is still a teacher. It mainly came from the idea to be our own future endeavours with property. Anyway I am extrememly excited to look into it even if it doesn't take me anywhere! hehe

My2Geldings 06-11-2009 09:16 AM

Why don't you go to a real estate company and talk to someone there?

It's fairly straight forward here to but the exams and tests you have to take, I have heard are quite difficult. You are going to be dealing morgages and interest rates, down payments and other various fees. There are a lot of legal paperwork you will be dealing with.

I say go for it and give it a go. If thats what you want to do, you shouldnt have any issues getting yours ;)

GypsyTally921 06-11-2009 11:55 AM

Quote:

Originally Posted by free_sprtd (Post 325244)
Hey that's great info thanks so much!! I live in Oregon and it would just be a side thing to dabble in.... We have a small business out here and we get by just fine, but my bf and I are very interested in real estate investment and I saw that it's not terribly expensive for the courses online. And it wouldnt be something I would be pursuing like right away either....kind of just ease into I guess? anyway, here is the site I found that appears to be legitimate. Are you pretty happy with the process or is it something you wouldn't recommend? sorry silly question. I will probably be back with more questions in a month or so when I'm ready to take the courses. Thanks again!

Site didn't come up in your post?

Ah; I am not familiar with Oregon, however I think they may do reciprocal licensing with some other states so their process probably isn't too different from here in CA. Here's how it works in CA: You take three classes, and have to take a test at the end of each class to prove you took it, basically. I did all of mine online, just downloaded the books. It can be an open-book test, so it was fairly easy to do this part. Once you have successfully passed all the class tests, you send in your license and exam application, with the certificates from your class tests. You pick or get sent your exam date and study study study. Once you pass the test, you have to get fingerprinted, and once they check your background and file your fingerprints, they send you your license. In CA, you are licensed for four years and have to take more classes before you can renew your license. You are eligible to get your broker's license (means you don't have to share your commission with your broker) after two years of relevant experience/ being licensed as a salesperson.

Classes and tests are all legal jargon and situational stuff, like, "If a client gives you their earnest money deposit for a home purchase, what must you do with that money?" etc. But they're all multiple choice. And the math, while I'm not that strong with math in general, seems to be pretty straightforward.


Quote:

Originally Posted by Joshie (Post 325344)
We're selling out house now. As our agent says, real estate is a full time plus occupation. You have to have the money to advertise up front. It's just not for the faint of heart.

If you want to make a living out of it, absolutely. If you're just doing it for yourself or a few others though, it can easily be done part-time. Once I'm licensed I'll probably only use it for friends and family and word of mouth, which will be maybe, if I'm lucky, two or three transactions a year. Easily do-able part time. I will not attempt to make a business out of it as long as I have my current job because I could not give my clients the attention they deserve. I recently shadowed one of my co-workers every step of the way for my bf and I to buy a house and it is time consuming, but maybe only 20-30 minutes each day of phone calls and emails all together. The hardest part as a buyer's agent is finding a property they're willing to buy... and the hardest part as a seller's agent is getting buyers to make offers.

The longest part of my bf and I buying was finding our house. And then waiting for responses on our offers... that was torture. But the experience was invaluable and being hands-on really helped me... hopefully enough that I'll pass this time, haha.

Anyway, free_sprtd, feel free to PM me or re-up this thread with any more questions, I'm more than willing to help. Good luck!

Edit: Just forgot I didn't answer your direct question, haha. I am ok with the process... it's long and bureaucratic and expensive, but all my hobbies are (expensive, that is... my horses are NOT bureaucratic, thank goodness!) :) And I love learning and knowing how things work and most of all being able to do things myself. So while the subject matter is rather dull, I love the idea of helping people find their dream home and get it into it someday, and wading through all of this to get there is worth it, to me.

free_sprtd 06-11-2009 09:35 PM

Hey girl you're awesome!!! tHANKS FOR all the info :) sounds similar to the process I found on the site I was looking at...although can't remember what it is now :). thanks again and ill keep you updated! It seems scary to be doing my own thing since I've been working with my boyfriend(for ourselves) for the past 4-ish years (straight out of hs), so it makes me feel like i'm really adult lol eeek!!


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