Technically, you do not need a license to get started in real estate. This always begs the question, “Do I really need it?” There are pros and cons to both sides of the debate, so it ultimately comes down to personal preference and what you’re comfortable with. If you’re thinking about it, here are 3 reasons to get your real estate license.
To get your license you’ll have to take classes. These classes will build up your real estate knowledge and show you the ins and outs of how it works. You’ll also learn how to brand yourself, market your services, generate leads, complete contracts, talk to buyers and sellers, legalese, and much more. Learning all of this will teach you how to do real estate the right way and avoid costly lawsuits and tarnishing your name. If you’re a newbie, you’ll want some form of education before jumping into any deals; why not get your license while you’re at it?
You can either jump into a deal and hope you don’t break any of the countless rules or regulations, or you can take a few weeks or months to learn all the rules and regulations so your first deal is as stress-free as possible. As a newly licensed agent, you’ll hang your license under a broker. What this means is that they’ll oversee all of your work; they’ll double check to make sure everything is in order. Not only does your broker give you the assurance that your paperwork is compliant, they also have years of experience (required for a broker’s license) to answer any questions you may have.
While in the process of getting your license, you’ll meet many different people. Some who have been in real estate for years, some who are brand new, and everything in between. Not everyone gets their license for the same reason so networking with them will open your eyes to the different opportunities and niches in real estate. The more you know about real estate as a whole will help you make well-rounded decisions lowering your risk.
There are a lot of things one needs to get started in real estate. Getting your license will cross some of these off the list: terminology learned, transaction knowledge obtained, and network started. You’ll also have your broker. A good broker will have a support team to help you every step of the way. Whether it’s training and education, lead generation, web design, marketing, scripts for buyers and sellers meetings, contract reviews, compliance, or transaction coordination, you have a support staff willing to assist any way they can. With so many moving parts, it’s difficult to do everything on your own. Having the education, broker, and support team will really help you create an outline for what you need to do to become successful.
Getting into real estate without any education is a bad idea. You’ll be trying to learn everything from the internet which is a good start but won’t teach you everything. You also may focus on the wrong areas of the business, so you may not be making the most of your time. Having the know-how beforehand, contacts in your network, and a support team will boost your results dramatically.