Day 7 of 30 – Robert Earl’s Prospective Agent Mentorship Guide – Digital Agent Show
Getting a real estate license is one of the easier tasks to accomplish.
The process is fairly straightforward and each state has its own set of requirements that are overall very similar to each other.
I will share with you what you have to do to get a real estate license, but understand that this is only part of the process that you should be focused on.
The better question is: How do I become a real estate agent that sells lots of homes and makes lots of money.
Just getting your license won’t pay the bills.
The reason that I wrote the headline the way that I did is because nearly 75% of the prospective agents that have contacted me over the years have asked the question, “How do I get my real estate license?” or some similar variation of it.
As a mentor, my focus is clearly set on helping the future millionaire real estate agents become just that. Not just licensed.
Understanding the overall process requires an understanding of 3 main areas:
Let’s start with the easy one first:
As I stated, each state has its own requirements for obtaining a real estate license. But they don’t always make it easy to find those requirements on their state websites.
Lucky for you, I have taken the time to give you step by step instructions for each state.
I also have a YouTube channel with a playlist that shows each state’s requirements.
While each state is different, they all have some of the same general requirements:
- Be a certain age (Usually 18 or older)
- Have a High School Diploma or GED
- Not have a serious criminal record
- Attend a Class for a set number of hours (Many states allow online)
- Pass a class final exam
- Pass the state / national exam
- Find a sponsoring broker
- Submit the required paperwork to the state (some with fingerprints)
In the big picture, that is the easy part. To summarize, satisfy the hours and pass the test.
This portion is also the least expensive part of the process and requires the least amount of investment.
This brings us to the next section of things you need to know and consider.
These usually fall into 3 categories:
- Financial Investment
- Available Time
To become a future millionaire real estate agent does not require an investment of a million dollars, but there is a financial investment that is required to not only get licensed, but also start selling.
Think of it this way. You are starting your own business. Instead of investing in inventory to sell, you are investing in yourself in the form of fees and expenses. https://digitalagentshow.com/how-much-will-it-cost-me-to-get-a-real-estate-license/
In addition to the cost, you also will need to ensure that you have a steady form of income for a period of time or savings to draw upon to financially support yourself while you start this new venture.
This brings me to the second point.
I have seen far too many prospective agents think that they are going to be able to work real estate part time and be successful. I am not saying it can’t be done, but the odds are stacked against you to be perfectly honest.
While in most states you can take the real estate class online to get your license and follow your own schedule, once you are licensed you will need to be available for the real estate company training and available to work directly with buyers and sellers.
Imagine if you can, you have been emailing and DMing with a great new potential buyer. You met them on your day off and you have been sending them properties. All has been smooth so far.
And then it happens. They find the home of their dreams that just went on the market. The one that won’t last because it is such a great deal and it matches their criteria so perfectly, and you are not able to get off of work to show them the property. Let alone be available for all of the follow up requirements for appointments with the home inspectors, closings, etc.
Do you have the availability of time to eliminate these issues?
If you don’t then ask yourself, do you have the savings available to cover your household expenses for a period of time until you learn how to establish a steady income?
“If you chase two rabbits, you will not catch either one.”Gary Keller – One Thing
Let me get on my soapbox for a few moments. Our society is so impatient. We want it all and we want it now.
Yet we all know that success is a process and it is measured by the progress and not the destination.
Are you willing to do what it takes to be successful? You are going to need to ask yourself that question every day and multiple times per day from now until the last day that you decide to sell real estate inorder to be successful. If your answer is no or maybe or I am going to try it part time, you are not going to like the outcome.
OK, the soapbox is put away.
I recently reached out to a number of people that had just completed the state required real estate course and asked them if the course showed them a real estate sales contract or a listing agreement or if it taught them how to sell real estate.
The answer from all of them to all three questions was a resounding NO.
So how are you supposed to learn how to sell real estate?
This is left up to the real estate companies.
Some do a better job than others.
- Some teach you how to promote their brand, but not how to sell real estate.
- Some teach you how to fill out the forms, but not how to sell real estate.
- Some say you can shadow experienced agents, but they either don’t know what they are doing themselves or they are too busy to give the new agents the time of day.
- Some just say congrats on getting you license and good luck.
- And a select few actually teach you how to sell real estate and build a real estate business from scratch.
Teaching that includes:
- How to fill out contract and listing forms correctly. Not just fill them out but how to understand them and what are the options available for the agent to best assist his or her buyers and sellers.
- How to find buyer and sellers without relying on handouts from the company.
- How to brand themselves as the local real estate expert so that potential buyers and sellers call the agent to do business.
- How to not only survive, but thrive in shifting markets and recessions.
- And how to structure your business in the areas of budget management, hiring, lead generation and business planning.
This article talks more about the importance of training. https://digitalagentshow.com/the-best-training-real-estate-company-year-after-year/
This is the area that is most important to your success.
So you see. Getting a real estate license is the easy part. But it is only part of the overall equation. You not only need to meet the state requirements if you want to be successful, you also need to be financially ready and mentally prepared to take the steps necessary. All of this is mute if you don’t find the right company to train you to actually work with multiple buyers and sellers.