The multibillion-dollar real estate industry is literally a promised land for many ambitious Americans. However, to pass through the gates, you need a key which, in our case, is a license. A press pass that proves you know the game well and “mean business.”
To get a real estate license, taking pre-licensing education is inevitable. Let’s find out what real estate pre-licensing education is about and how it benefits fortune seekers.
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What Is Real Estate Pre-licensing Education?
Anyone intending to work in the real estate industry must have a real estate license. It is the regulatory education demanded by all real estate commissions that is updated annually.
The courses taught in real estate pre-licensing programs equip students with a strong knowledge base of the real estate industry that every student must acquire before entering this market.
If you attend your classes and pass the examination, then you’ll be allowed to buy, sell, lease, or manage real estate in the same state where you got your certificate.
What Careers Can I Pursue by Getting a Real Estate License?
Getting a real estate license will pave the way to the real estate market for you, hence, the name. There are a number of careers in the market that you can choose from after getting your license. Below, you can read about some of the main ones.
Real estate agent
The primary job of a real estate agent is mediating between buyers and sellers. As clients, they can work for buyers as well as sellers. Real estate agents show properties to buyers and help with the transaction process.
Real estate assistant
A real estate assistant works for a real estate company and is mainly concerned with administrative tasks set upon him by brokers or real estate agents. Scheduling appointments, answering phone calls, maintaining property listings, and filing documents are some of the things that real estate assistants usually do.
Real estate marketing specialist
Real estate marketing specialists manage the marketing efforts of all agents of a company. These guys are primarily concerned with improving the online presence of real estate agents through content marketing, managing the company’s social media accounts, advertising the company’s services, and running marketing campaigns.
As the name suggests, an appraiser is responsible for assessing the true value of a property and, for that matter, whether it’s a commercial or residential one. To assess the value of a property, appraisers consider the size, age, location, and surrounding area of the property. It’s worth mentioning that apart from a real estate license, appraisers have to earn another specialized license, called USPAP, for this job.
A property manager is concerned with the safety of the property, making sure that the tenant and the owner are happy with the condition of the property. Working closely with owners, property managers prepare properties for rent or sale.
Home inspectors are responsible for checking the structure of the property and its facilities. They assess the health of the roofs and floors, the electricity, the plumbing system, etc.
Home inspectors are required to deliver a report of their observations after visiting a property. The report must be as inclusive as possible since the owner, potential buyers, and appraisers will rely on it.
What is the content of real estate pre-licensing education?
The content of real estate pre-licensing education varies from state to state. It also depends on the career you seek. So, the changes are more or less about the to-be-covered topics, the duration of the course, the type of examination, the application process, and of course, the fee.
Despite certain differences in the content of the course, there are certain shared subjects, such as;
- Real estate and the law
- Real estate principles
- Real estate in practice
After making up your mind, get prepared to go back to your high school days and read textbooks again. You’re gonna do homework, take quizzes, and practice exams to become a true real estate geek.
What Are the Main Benefits of Real Estate Pre-licensing Education?
Accessing more deals
By getting your license, you will have access to the Multiple Listing Service (MLS). Whether you are an investor, realtor, brokerage, or real estate agent, you’ll benefit from your open access to MLS.
As soon as a new listing is recorded on MLS, it will notify you, and you can check the newly-listed property’s location, price, and other features.
This means that you no longer have to wait several months to find a deal. If you are on your toes and have a speck of luck, you can make as many deals as you wish.
Gaining more credit
This one doesn’t need much explanation! Gaining a mandatory certificate makes you a reliable agent/investor in the market. Anyone in the industry will be pleased to work with you as they know you are an educated person who knows the ins and outs of his field.
Connecting to other individuals in the business
As a licensed person in the industry, you’ll meet many realtors, investors, or brokerages, and you should look upon this as a golden opportunity.
You can learn valuable stuff from these guys that you will put to good use in the future. They can also connect you to appraisers, lenders, or other professionals in the industry from whom you will benefit too.
What Should I Know Before Starting Real Estate Pre-licensing Education?
Regarding the prerequisite, you don’t need any previous knowledge or education in the real estate industry. You only need a diploma. Also, you must be an over-18 legal resident of the United States. However, you must pay special attention to the following information.
- Make sure you go to an approved educator. Never fall for companies that are not approved by the real estate commission of their state.
- Each state’s policy toward real estate pre-licensing education is unique. Therefore, if you earn a certificate in one state, you can’t work in other states.
- Unlike college days, when we would bother just enough to “pass the course,” here, you must do your best to learn
Don’t make the mistake of thinking that your certificate will trick people! You must prove that you “earned” that certificate, not “bought” it.
- The exam is a challenging one! Not to scare you off, but enough to say that many applicants have to retake it multiple times to pass.
- Work on your marketing skills. You’re gonna enter a highly competitive market, and you must find out how to make some room for yourself. Therefore, start learning about real estate marketing strategies and adapt some of them.
- Passing the exam doesn’t mean that you’ve completed your real estate education. There are post-examination courses that you must complete within a certain period of time, which varies by state, to earn a permanent real estate license.
- There are upfront fees as well as periodic renewals that you must pay in order to maintain a real estate license. Also, keep in mind that accessing the MLS is not free of charge.
How to Find a Good Real Estate Center?
The first thing you should have in mind is to look for an approved center that offers qualifying real estate courses. Take your time and learn about the approved real estate centers in your state by consulting real estate agents, investors, and realtors you may know.
If you don’t know anyone in the industry, you can ask professionals on social media such as LinkedIn, Facebook, or Twitter to help you find an approved center.
You can also consult the table below that lists all the 50 states’ official real estate commissions. Just reach out to your state’s official website and learn all about the approved real estate centers in your state. For your convenience, we’ve also included each state’s phone number and email address.
Pursuing a career in the real estate industry is a safe, certain step that many can take if they want to make big changes in their lives. Real estate is a multi-billion industry; all you need to find your way through is a real estate license that you can obtain only if you set your mind to it.
By having a real estate license, you can become a real estate agent, an investor or appraiser, a marketing manager, or a home inspector, to name but a few.
Do your research and evaluate your needs, goals, and capabilities. You could also seek advice from people in the industry and then make an informed decision.