Are you working toward your real estate license, wondering if there are any good tips and tricks, or things you should know about becoming an agent? Real estate is a multi-faceted niche with money-making opportunities for everyone, licensed or not. However, getting your license allows you to make more money.
In this article, you’ll learn some tips for ing your real estate license exam along with some things you may not know about being a licensed agent.
1. Don’t make getting licensed complicated
Getting your real estate license is easy and there’s no need to turn it into a complicated process. For instance, getting your license from Real Estate U is the most affordable, easy way to get it done. You can complete the course on your own time and at your own pace.
The entire course is istered online, the testing is online, and you’ll get a copy of your license when you the final exam.
The licensing courses are generally self-paced. For instance, the course for Missouri is 72 hours long, but you don’t need to blast through everything all at once. You’re going to consume and learn the information in whatever chunks are most comfortable for you.
2. Get a license in multiple states
Whether you already own property in another state or you’re thinking about buying your first out-of-state property, you’ll probably want to get a real estate license in that state.
You can certainly buy and sell a property without a license, but again, if you act as your own agent, you’ll save thousands of dollars.
3. Learn from experienced mentors
Learning real estate inside and out takes time, patience, and plenty of experience. You’ll gain experience over time, but you’ll definitely make mistakes along the way. While you can’t by the need to have your own experiences, you can take advice from experienced real estate investors. Good advice can save you plenty of time, heartache, frustration, and money.
Once you get your license, don’t forget about looking for a mentor in the field. Plenty of agents is willing to share their knowledge and expertise with anyone who asks. However, try to get some dedicated, 1-on-1 time with your chosen expert. You’ll learn more when they intentionally carve time out of their day to teach you.
If you can’t find anyone to train you in person, start looking around online. There are plenty of real estate investment channels on YouTube that includes coaching, investment news, investment tips, marketing tips, and even some humor.
Start reading real estate blogs as well, including blogs that deal with landlord-tenant law in your state. Learn things like how to safely sell your home before foreclosure. Ideally, you’ll want a property manager to handle all of your landlord duties, but in case you’re still working as a landlord, you’ll need to know your state laws inside and out.
4. Take uncomfortable risks
The way risks appear to people will always be relative to their experience level. For instance, someone with no experience might see one opportunity as too risky, while an experienced investor will grab that same opportunity without a second thought.
There are inherent risks in real estate, as with any niche, but you won’t be highly successful until you start taking some of those risks. It’s always a good idea to consult with a mentor before taking big risks, but eventually, you’ll need to take uncomfortable risks to get ahead.
Risks feel uncomfortable when they’re unfamiliar, so the more you throw yourself into the game, the more comfortable you’ll become around the risks of investing in property.
5. Study hard and ask questions
When you’re studying for your final exam, study hard and ask plenty of questions. Hopefully, you’re taking a real estate course that will walk you through every aspect of the final exam, at least by example.
If you’re not getting enough information from your coursework, start calling around to find a real estate coach. A coach can refer you to additional materials to help you fill in the gaps, and they might know someone who can explain things a little differently.
Not everyone learns in the same manner, so it’s nice to have options.
Now is the best time to get licensed
Each day you go without your license, you’re losing income. Get your real estate license sooner than later. Start taking a course now, and in a month or two you’ll be licensed and ready to go.