Real Estate School: Is There A Difference?

Question

Hey BP,

I am an aspiring REI looking to get started. The plan is to eventually finance my first acquisition. The first step I am taking in this journey is to acquire my Brokers license. @JScott rattled off a number of great reasons you should obtain the license when pursuing REI. (listen to BP's Podcast Episode 10) Long story short I am just curious, when obtaining a license does it matter what school you go to? I live on Long Island and my only two available options seem to be NYREI (Syosset location) and The American Real Estate School. (Hauppauge location) NYREI seems to be the more professional choice with a higher price tag of $550 while The American Real Estate School offers a similar course for $250. If anyone has any experience with either one of these schools or any other suggestions for schools that would be great.

-Andrew V.

Andrew V. · Answer

Thanks for the GREAT info fellas! I'm going to look into the state guidelines and make the cheapest choice possible. I imagine that I'll end up learning more once I get into the business anyway. By the way @Aaron Mazzrillo you did an awesome job interviewing as usual. I can't thank you guys enough for the knowledge you add to the community. Brandon keep motivating and Aaron keep living the dream!

Aaron Mazzrillo · Answer

When I got my license out here in CA, I found a local Broker's office that gave the training for free in hopes you'd hang your license with their office.

I also took classes at the local community college. I don't know what that might cost in NY, but it was a whole lot less expensive than $550.

I'd find out what they are teaching and what is required for your state license. To be a good agent, you need to learn negotiation and marketing. I've yet to find a school that teaches either in relation to a sales agent's license. Most teach you a bunch of nonsense the state requires to pass the test and most of which is useless in making any money as an agent. Zero of which is helpful in being an investor.

John Moore · Answer

Welcome to the BP family and the beginning of an excellent career.  You might check with  State Real Estate Commission  and see if there are any on line schools,  this would same you time and money.

Ned Carey · Answer

Some borkerages will have much better training than others. If you goal is simply to get MLS access for your investing that is not imortant. If you want to do transactions as an agnent it can be very valuable.

Andrew V. · Answer

@Ned Carey that's an awesome idea that I never have even thought about! It looks like I have to start making a few calls to local agencies. When looking to be an agent at a brokerage firm, is there anything I should look for or are all firms the same?

Ned Carey · Answer

@Andrew V.  Real estate licensing classes are state approved. Basically you are going to b learning the same stuff. I don't see an advantage to paying more for the classes.  As Aaron said many of the large brokerages offer classes to attract agents.

Brandon Turner · Answer

Hey @Andrew V. I can't speak to either of those schools, but I'd imagine the more expensive schools probably have nicer courses with prettier graphics and better quality audio/video... but I'd wager that the content is the same either way. I could be wrong, of course, but I doubt it! ;)  
	
	Anyone else have an idea?