As I mentioned before, investing in real estate is an expensive way to make money. It’s also a very expensive way to learn how to invest. The cost of education for most people starts at around $100 per month, which quickly adds up over time!
Fortunately, you can get formal investment level training from the world-renowned University that houses some of the greatest assets owned by wealthy individuals today — Harvard.
You may have heard about investing in real estate via their educational program, “Real Estate Investing.” While it does offer education, it is only available as part of the full bachelor’s degree program or advanced certificate programs.
That means if you already hold an undergraduate degree, you would need to pay additional fees to obtain this education outside of what you paid for earlier. For most people, paying more than $1,000 per year extra is not a practical solution when they are trying to balance income and savings.
There is another option though…
University of Maryland has a online MBA in Business Administration with a focus on Finance. This two-year program costs $15,900 USD. That’s only $450 per semester or $6,300 total!
By comparison, the average annual tuition price tag at Harvard is just under $50,000 USD (which includes room & board).
How many hours of real estate school do I need?
So how many courses do you need to take to be a professional real estate agent? Technically, you only need one course to become an agent! But most agents are not successful their first year because they lack enough knowledge in the field to put into practice.
That’s why it is important to have educational experiences beyond your classroom lessons. This includes attending seminars, reading books, and talking to professionals in the industry about what things work for them.
By having these additional resources, you will be more informed as a student and market expert when you enter the workforce. You won’t be starting from square one like some new agents are!
The other major part of education outside of formal schooling is team building. Being able to collaborate with others and work effectively towards a common goal is very important in the workplace.
Real estate is a teamwork sport where you must work well with individuals and groups throughout the entire sales process.
Is real estate school worth it?
So how long is real estate school really? Some make this claim that there’s three years of education in broker’s degree programs, which makes a total of five years including the undergraduate college degree! Others say you can be totally successful without any formal education at all beyond your GED or high school diploma.
In fact, some experts argue that having no educational background whatsoever is actually more difficult to achieve than a bachelor’s degree!
But what about those with an associate’s or bachelor’s degree who claim they would have been better off going straight into business? Or someone with only a general education degree who says she wouldn’t have received as many opportunities if she didn’t have a higher education level?
It seems like every person has a different perception of just how much education is needed to truly succeed in the field.
Is it hard to get into real estate school?
Even though most people are not directly recruiting students, there are ways to enter the real estate education field without having gone through formal schooling. With technology being used for teaching every facet of our daily lives, you can easily pick up some knowledge and skills that show your potential in this field.
There are many types of educational settings where individuals can obtain real estate training. Some of these include:
Real estate courses that offer certification
Virtual learning environments (VLE’s) such as Udemy or Coursera
Online communities with large audiences like Realtor.org
By adding this additional content to your repertoire, you will give yourself more opportunities in the industry.
What classes will I take?
Most every school of real estate offers some sort of business class, marketing class, finance class and/or legal class. Some even offer specialty courses in things like interior design or photography.
Business classes focus on how to run your own real estate firm with lessons about accounting, law, marketing and more. Finance classes focus on economics for real estate, such as pricing properties and financing mortgages.
Marketing classes are all about learning how to effectively market and promote your property services. This could be through social media ads, direct mail, billboards, etc.
Interior designing is also an up-market career path that requires you to have either a degree or certification in it. But what most people don’t know is that there’s actually a way to make money doing this!
By taking general education courses in areas like art, fashion and psychology, you can create new styles and concepts that you put your own spin on. For example, if you love cartoons then you can develop your style by drawing your own versions of characters and putting your own twists on them.
By offering these additional service offerings, you can make extra cash while helping others feel better about themselves and their homes.
What are the requirements?
The first requirement to becoming a real estate agent is getting your license. This typically requires one to be at least 18 years old, and you have to work in professional settings for at least six months before being able to take the test that gets you your license.
There are three main parts of the exam — just like there are three parts to being an attorney or doctor. You will need to know how to read, write, and speak clearly, use proper grammar and vocabulary, and understand basic math.
The reading portion takes about two hours and the writing part about half an hour. Then, you’ll be given a topic and asked questions related to it. Your time is limited for each question, so you must be prepared.
You can take the test as many times as you want, but it is not free. There is a fee to take the tests, and most people agree that the cost is worth it if you love doing business and teaching others.
Many schools offer student loans that can help with paying for the exams such as taking the practice test several times beforehand.
Who should go to real estate school?
One of the biggest questions that most people have is how long should you spend in education (real estate schooling included) before entering into the workforce. The short answer is, it depends. It depends on what your dreams are, and what kind of career path you want to take.
If you would like to be a high-end residential or commercial broker, then going through college is not for you. You can start working as an agent right after receiving your license, and hopefully climb the ladder from there!
For other individuals, going through educational institutions can help hone their skills and knowledge base. If you are interested in becoming a builder, developer, or property manager, investing time in additional training will help propel you forward towards that goal.
Real estate agents who wish to move up within their organization may need to pursue more advanced courses and certifications to do so.
There are many different levels of brokers depending on what area of the field they desire to advance in.
What can I do now?
The next step is to determine what you want to be when you grow up! While some people find teaching their profession immediately, most real estate agents have something else they pursue later in life.
Mostly, people go into business for themselves after investing in education. This includes becoming an accountant, banker, or lawyer. All of these professions require at least a bachelor’s degree and sometimes a master’s or doctorate depending on the field.
However, being a landlord isn’t quite as cut-and-dried. You don’t need a college diploma to become a property owner, but it is helpful if you ever wanted to run your own house.
That doesn’t mean that everyone who owns a home was educated beyond high school, however. A lot of people start out working for landlords before building their own homes.
Just because someone with no formal schooling can work as a landlord does not mean you should give up and leave town. There are several courses available online and through community colleges which can help you get started as a homeowner.
What is a good broker or agent?
Being a successful real estate professional requires more than just having a license, being nice to people, and promoting yourself online. You have to know what you are doing, and how to do it. This means there’s no room for casual professionals in the industry!
It takes at least five years to become a really experienced residential realtor. The amount of time needed to reach that status depends mostly on two things: how much training you get during your education (and beyond) and how fast you can learn new skills.
The educational part usually starts with someone schooling you in fundamental real estate concepts and practices. These include such topics as buying a house, marketing a home, negotiating contracts, etc. Some schools also offer courses that teach you specific areas of the field, like investing in homes, financing mortgages, or advertising strategies.
After you gain some knowledge, it’s time to put those lessons into practice. This happens when you receive your degree, and then you’re trained to perform practical tasks. It’s not enough to simply show up every day and try to be helpful, you need to start working!
Most colleges offer both direct entry programs and pre-realty certification routes. Direct entry programs require only that you complete certain courses and exams before receiving your bachelor’s, but they don’t give you the credential until later.