In-depth education is one of the biggest expenses in any career path, which is why most professional occupations have at least some kind of formal schooling. For real estate agents, this educational investment can cost anywhere from tens to hundreds of thousands of dollars depending on where you live and what level you want to advance your career.
Some brokerages offer sales associate courses that are more fundamental than others. These courses typically focus on things like marketing, negotiating, and business fundamentals. Others may offer advanced training such as licensing or certification for brokers, technology basics such as Microsoft Office and Cold Calling Techniques, etc.
But no matter whether you’re looking to climb up into the back office or front desk, all successful agents must be trained in something beyond basic selling skills. This academic piece of the puzzle is important because it gives professionals a common language when talking about the intricacies of the industry.
It also helps set agent “credibility” by proving that they know what parts of the market are and how to navigate them. Most importantly though, it prepares people to defend their actions and decisions if there ever is a dispute over a transaction.
Cost of a real estate license
The cost to become a licensed Realtor varies from state to state, but it’s important to know how much tuition will set you back before deciding if this is really for you. Most states require that students pay either a fee per course or a yearly licensing fee depending on which level of agent they want to work at.
The amount of money spent per year on education can add up quickly when you do it as a student. It’t easy to combine studies and jobs, so be prepared to devote your time to learning here!
Some courses may even be paid for by the recruiter or employer, making the total more expensive than just what it would cost to study alone. This isn’t always the case, however- some companies will cover all or part of the fees for their employees.
In fact, many people start working in the industry with no formal training at all! If you are interested in becoming a professional realtor, make sure you look into the costs first.
Steps to becoming a real estate agent
Being a real estate agent is not for beginners, nor are there any short courses that guarantee you will become an expert broker!
Most people begin their journey as a real estate agent by taking the General Re-Entry Course (GREC) or Entry Level Agent Training (ELAT). These two courses are usually one year long and cost around $5,000-$8,000 depending on your state.
During this time, agents are trained in fundamentals such as property management, marketing materials, negotiating skills and more.
But what about professionalism? What about ethics? What about quality of service? During training, little attention is paid to these important qualities.
And while some states require only a GREC or ELAT to be registered as an agent, many others require additional certification as a Broker. This means another year of education and costs extra money!
So how do you know if Vivid Sales Academy’s 3 Year Diploma Program is right for YOU? Here are 5 reasons why it’s worth looking into.
1. Industry Recognition
2. Field Tested Strategy
3. Certified Professionals
4. Low Costs
Obtain your real estate license
After paying for school, you will be required to take both a state and national exam to obtain your Realtor License. The National Exam is given by the NAR (National Association of REALTORS) and it costs around $250.
The State Exam in most states is free but requires taking the national exam first, so that cost is already paid for!
Mostly, individuals who work as brokers are actually licensed agents which have limited liability, whereas owner-brokers are not. This means that if something goes wrong with their property, they themselves are not protected from lawsuits or claims.
This protection can only be obtained through an agent’s insurance policy, making it important to find one before working as a broker! More information about being an agent can be found here.
Registration with the state
The other requirement to become a real estate agent is registering with your state as a professional. This process usually involves you completing an application, paying a registration fee, and then attending some formal education or training at a Realtor school.
Most states have standard guidelines for what classes must be completed in order to register. These courses typically include business ethics, property law, marketing, negotiation skills, finance basics, and more. Some require agents to take certification exams after completing these courses, which can cost anywhere from $1,000 to $10,000.
These costs are all paid by the individual agent once they’re registered. There may also be fees for advertising during this period. It is important to know that even if you are already working in real estate, most states require you to re-register as a professional.
This process can easily add up since there are often monthly dues involved. Luckily, our team has found the best Realtor schools online. So, we made it easy to compare prices, rankings, and reviews across sites to find the best fit.
Pay your fee
After paying their application, enrollment, state licensing, and other fees, most schools will offer you an education plan. These are usually some sort of real estate educational program like General Business Classes or Agent License Requirements. Some even have additional certification programs such as REI (Real Estate Instructor) or GRI (Group Sales Representative).
Most school run-outs also include Life Coach Services which can be expensive depending on how many people they serve. A life coach is typically not just for students but for anyone looking to improve their personal relationships or career growth.
Some Schools now require you to be enrolled in both classroom and non-classroom courses to receive your license! This makes it very difficult if you need help with classes or want to take time off during college semesters. If this applies to you make sure to check out if there are any opportunities at reduced cost or free services available.
Creating your website
As mentioned earlier, you can pick from two main types of KW schools- software or non-software. There are some that mix and match both so it really comes down to what level of real estate agent you want to be!
The major difference between having one type of school over another is how much teaching and support they offer. If this sounds like something that could help you grow as an agent, then go for it! They’re all free except for the cost of the books which many give away through buying them yourself.
There are also various bonuses such as student materials and rewards for signing up. The rewards vary by person but often include CFDs (Course For Developers) or AARs (Agent Apprentice Routines). These are courses designed to teach you more about being a business owner and running a successful real estate agency.
There are even prizes for completing certain assignments such as doing interviews with agents or leading a group discussion. All of these things add depth to the education program by giving you more tips and tricks for running a business.
As we mentioned before, one of the biggest challenges that real estate agents face is getting new clients. Luckily for you, there are many ways to go about achieving this.
One way is to put up advertisements on billboards, online ads, social media, flyers, and newspapers. By doing this, you will be reaching a wide audience which can help you get some business.
Another way to gain more clients is by hosting a house show. This means bringing in all the supplies needed to prepare your listing for open houses, going to several homes during the open house, and then closing with a sale or consultation!
And lastly, start creating content. Creating an Instagram account and posting pictures frequently is a great way to grow your follower base and increase engagement. You can also create blogs and write about different things related to the industry to build your reputation as an expert.
Selling a home
As we mentioned before, you can choose to be an agent or broker after completing real estate school. While most people begin their real estate career as agents, there is nothing wrong with being a professional seller!
Selling a house can be quite difficult at times. It takes a lot of work and preparation ahead of time to ensure a smooth sale. Luckily, you are not alone in this process!
There are many professionals out there that help sellers sell houses quickly and successfully. These individuals have invested in training who will aid you in selling your home.
They may teach you how to negotiate better deals for it, marketing strategies, etc.