Are real estate degrees worth it?

Are real estate degrees worth it?

Real Estate Broker · Manchester, NH · Member since 2014 · 630 posts · 420 votes

Hello everyone!

I come here asking a rather important question that pertains to me personally. My big question is, is it worth going to college for a real estate degree if planning on being a full-time investor?

Let me give a bit of background information here...
I'm currently 16 years old and near the end of my junior year in high school. I'm "homeschooled" having finished most of my credit requirements in my previous years of high school, so I have a very flexible schedule. I have an internship lined up with the largest real estate brokerage in New Hampshire (Keller Williams). Assuming I like what I see there, I potentially plan on working as a real estate agent (once I turn 18) while I build up enough cash to finance my first investment. However, as has been drilled into my and generations before me, I'm still considering going to college just because I've heard its worth it. Of course, with the price tag and time commitment attached, I'm not sure how beneficial it'll be. So this all circles back to my question...

Is it worth going to college for a real estate degree if planning on being a full-time investor?

Please, if you have any opinion at all, I would love to hear it; regardless of if you know anything about the subject or not. I just would like to hear as many opinions as possible so I don't end up wasting my time and money in a four-year degree, or going broke because I'm completely unprepared for the "real world" of investing.

Thank you fellow BiggerPockets members!

-Matt Lefebvre

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Investor, Entrepreneur, Educator · Springfield, MO · Member since 2009 · 21k+ posts · 12k+ votes
12y

I've never heard of a RE degree allowing you to skip the state required class to sit for a license, pretty sure that's not done anywhere as state regulations are part of the class and RE commission matters which are not taught in college.

A degree in finance would be much more valuable than an RE degree, real estate falls under finance. Load up with 12 hours of accounting too. Your business in F/A can include RE classes. That will be a much better degree in the business world as well as for investing for yourself. Frankly, I doubt an RE degree would get you much, an undergrad might get you a mid management job in a larger RE firm or as a managing broker after you got experience. Of all business degrees, F/A encompasses all businesses.

Generally, only those who suggest not getting a degree don't have one, many feel that it's specialized training, it's not so much. You have demonstrated the ability to learn in a structured environment and in a social setting, it doesn't make you smarter it will make you better educated to address issues in life, not just a job. It's about the quality of life, you'll have a better life overall even if you don't make millions.

At 16, you can begin looking at what you enjoy and lean that direction, but you have plenty of time to map out where you will be going. Often, you won't end up following the map, opportunities come and you need to recognize them and be flexible in following what you enjoy doing more than trying to work in one degree field. F/A will be the most flexible in business, trust me on that one! Good luck. :)

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  • Investor · Manchester, NH · Member since 2013 · 10 posts · 2 votes
    12y

    College wouldn't prepare you for the "real world" of investing anyway. You can always go get a bachelor's degree later in life if you choose to, but your best bet given your interests would be to take on that internship and get KW to pay for your real estate training and license.
    Since you've been homeschooled you already know how to teach yourself, so get all the books on the subject you can and you'll end up with a better education than you would get from college.
    The primary reason to get a college degree is if you want to get a job that requires impressing an HR manager. The degree establishes to them that you are capable of meeting the requirements, deadlines, etc that a college requires. Your real life working experience is equally important, and I don't see a bachelor's degree as a requirement for long-term success in Real Estate.
    That said, if you discover in a few years that real estate just isn't for you, you will have fewer options in other industries due to not having the broad background a bachelor's degree confers. But again, managing real estate rehabs or knowing enough about finance to be a successful investor are skills that are much more valuable, and do apply to other types of jobs.

  • Investor · Jessup, MD · Member since 2013 · 437 posts · 180 votes
    12y

    @Matt Lefebvre

    College degrees show managers as @Erick T. stated that you are capable of meeting certain basic career expectations. The knowledge you can gain with that specific degree can help you in many areas of investing, but it will not make you a great investor. While you may know practical terms and situations, you still need life experience. Most licensing exams do not prep realtors for investment situations nor will this degree. This degree likely will be broad and encompass many areas. For me I have several degrees, and I can tell you without the on hands experience they are not very helpful. I would take the internship, get licensed, work in the field, and then decided if that specific degree is good for you. Because at times degree can limit you to certain jobs.

  • Investor · Tallahassee, FL · Member since 2014 · 246 posts · 89 votes
    12y

    hello
    The fact that you are already making plans to pursue your career at thte age of 16...I would have to say that you would be just fine without a real estate degree. the information is the same, whether you learn it in a formal classroom setting, or from books/internet sites.

    An RE degree would allow you to bypass the real estate class and sit for the broker's/Sale's associate exam. Since the real estate course is offered online for $100, I think most would agree that it is way more economical to go that route instead of spending the $20,000+ for an accredited 4 year deegree.

    Compounding is your best friend. Get started in sales, and learn as much as you can through experience, collegues, books, and online resources(BP). Save your money, while you are learning the best places to put it to make it grow. Fast forward to the age of 22, when most people are graduating, and have either:
    1) financed education = student loan debt
    2) paid cash for education

    You will have impeccable credit, several properties under your belt, and will be on your way to building wealth

    either way you slice it, you have tied up your credit(which impacts your capability to borrow), or you have tied up your cash(which impacts your ability to purchase).

    Rather than paying more for theoretical knowledge, I would get my Sales Assoc license, build credit, open a Roth IRA, educate myself on macro economics, stocks, and the banking system. This combined with the on the knowledge gained through hadns on experience gives you a distinct advantage over the one who went the 4 yr degree route.

    I have a 4 yr degree in Mechanical Engineering, and although it trained me to think a certain way, I am cvertain that someone with no degree and a couple yrs experience in the field would run circles around me in the engineering field.

    This is perhaps just the way I would do things "if I knew then what I know now". The fact that you are giving serious thought to your career at such a young age tells me that regardless of your path- You Will Be Successful.

    There is Book "From Janitor to Multi millionare" by Rich Weese.
    He started at the age of 21 and built an empire in a few years. All of this without a college degree. He went the sales assoc route and was incredibly efficient in his approach. I would recommend that you read it. Keep us posted on your endeavors and we wish you all the success!
    Sebastian

  • Real Estate Investor · Myrtle Beach, SC · Member since 2012 · 299 posts · 104 votes
    12y

    Hey Matt,

    First I would like to congratulated you on your hard work and mind set to look forward to you future. It is very important. You should go to college for a couple of reasons, One for you future grooming and the degree. Use the college years for not only the education but more importantly networking with the right people, These folks could play some important roles in you future investments and businesses. You do not necessarily need a real estate degree to become a investor, a very good one on one mentor works the best. Use your college to gain a degree that will help you to have a career and help you in real estate investing, like accounting,engineer,business,management etc. This way you always have a back up career. Just ask any of the thousands of real estate agents, broker or even developers who in the crash lost everything because they new nothing else. One thing I teach and speak about is your real estate investment business should start out being built on the dime of your career income. Then over the years for your retirement you want to build a min of seven streams of income from different entities, like 401k,Roth Ira ,Sep Ira, Check book Ira, Those should be set up first in some what that order. Then Oil royalties, Real Estate or what I call alternative investments. Before all of this I would recommend you starting a emergency fund and living fund, most of this can be started at the same time. On your real estate internship I think that is a great idea, Keller is a very out standing Company. Getting your lic, might be something you want to think more about, it will hinder you down the road I your creativity side.

    Matt, No matter what you do I can see and hear already you will do well.

    I would like to send you my book on real estate investing for free to help you get started. Just send me a email with your address and I will have it out this week.

    Congrats again

    Syd

  • Rental Property Investor · South FL · Member since 2014 · 92 posts · 16 votes
    12y
    Matt Lefebvre Hi Wow that's a whopper of a question because It's you're future at steak. With that said I think getting your RE license is worth it because the basics are taught especially how to stay inside the law. Now if you choose to go to college don't just study RE get something else like business administration marketing or finance if you already now you want to be a full time REI it will only help you. If you don't choose to go to college and just do RE if something happens to the RE market and you have to get a regular job you will be very limited that means physical labor minimum wage dead end jobs when you don't have an in demand marketable degree like healthcare or accounting. Now you have to be honest with yourself and now if you're the type of person who can be motivated enough to make your way without a degree. Another alternative is getting an associates in business and RE but again if applying for a job you need an I demand degree and the associates doesn't get you far. So if you're going to go to college GO to COLLEGE and get the bachelors or masters if you want. Getting an assistant intern position over the summer at a RE office might help you decide
  • Investor, Entrepreneur, Educator · Springfield, MO · Member since 2009 · 21k+ posts · 12k+ votes
    12y

    I've never heard of a RE degree allowing you to skip the state required class to sit for a license, pretty sure that's not done anywhere as state regulations are part of the class and RE commission matters which are not taught in college.

    A degree in finance would be much more valuable than an RE degree, real estate falls under finance. Load up with 12 hours of accounting too. Your business in F/A can include RE classes. That will be a much better degree in the business world as well as for investing for yourself. Frankly, I doubt an RE degree would get you much, an undergrad might get you a mid management job in a larger RE firm or as a managing broker after you got experience. Of all business degrees, F/A encompasses all businesses.

    Generally, only those who suggest not getting a degree don't have one, many feel that it's specialized training, it's not so much. You have demonstrated the ability to learn in a structured environment and in a social setting, it doesn't make you smarter it will make you better educated to address issues in life, not just a job. It's about the quality of life, you'll have a better life overall even if you don't make millions.

    At 16, you can begin looking at what you enjoy and lean that direction, but you have plenty of time to map out where you will be going. Often, you won't end up following the map, opportunities come and you need to recognize them and be flexible in following what you enjoy doing more than trying to work in one degree field. F/A will be the most flexible in business, trust me on that one! Good luck. :)

  • Spring Hill, FL · Member since 2014 · 8 posts · 3 votes
    12y

    I dropped out of college in my senior year due to my business requiring more of my time (not real estate) As my life continued on I never made time to finish what I started at UNLV. One of my largest regrets. Don't be in such a hurry to grow up, even if you are ready. The money will come.

    You don't know what you don't know. School teaches you how to think and approach problems. Each year my business grows to levels I didn't think possible, each year I realize how stupid i was the previous for missing obvious things. Was that last year of college the key? Do I simply need a few extra years to mature? Who knows..... I'll be in real estate till my last breath, maybe not actually flipping but maybe a hard money lender or something like that. Don't be in such a hurry, this path doesn't end until you want it to.

    Many told me the same that I'm telling you and I never listened, so I doubt you will be any different. In 15 years when you are successful make sure to tell some teen the same. You will mean it then like I mean it now and thus the circle will complete itself once again.

  • Lender · Tyngsboro, MA · Member since 2009 · 3k+ posts · 2k+ votes
    12y

    Well, I have a little different take on it.

    If you want to flip single family houses for the rest of your life, you don't need a degree. However, almost no one ends up doing what they planned to do when they selected a degree in college. College is almost what a high school degree used to be - a necessity if you are to be taken seriously in the business world.

    BUT. I don't think you need an expensive school and lots of debt to get your degree. Unless you go Ivy League, no one cares where you got your degree from. Or unless you are in a highly specialized field, and are in the top 5% of your class and go somewhere like MIT, IIT, or Harvard.

    If you go Ivy League, the connections you make there and the mind set you come out with are as valuable as the actual education. But that's another topic altogether.

    I finished my degree late in life after having worked in management for years without a degree. In my last 1 1/2 years of college, all the business courses I took gave me information I had already learned in real life, so they were not useful. The courses that taught me something were technical in nature, such as advanced accounting and database management.

    So my bottom line advice is to get your education as quickly and inexpensively as you can, and take advantage of internships and connections while you are in school to make as many outside connections as you can. Don't go into debt if you can help it, it will severely limit your choices later. You'll be able to say you have your degree if you decide to switch careers, and there is a really good chance no one will ever ask you what your degree is in. I actually agree with Bill Gulley (when does that happen!) that finance is a more useful degree. The guys with finance degrees get exposed to concepts that the rest of us spend a long time learning, sometimes. They are more prepared (sometimes) for entrepreneurship, rather than working for someone else.

  • Real Estate Broker · Manchester, NH · Member since 2014 · 630 posts · 420 votes
    12y

    Thank you everyone who has responded so far! Your insights are great and I really hope to hear more. Its really great to hear people from both sides of the coin.

    @Erick T. Thanks for being the first responder here and giving me support and voicing some very valid concerns! Question though, you brought up a point about getting a job later on without a degree, but do you think working experience in real estate, when applying for a job not directly related to real estate (probably something in the business/management area), is as valuable as a bachelor's degree in the specific field when applying for a job?

    @Tyrus Shivers From what I've read and heard about the degree, it looks like once you go beyond the accounting portion of it, it becomes very specific to real estate so it does sound rather limiting if I change my mind later on. Thank you for sharing your thoughts on degrees being limiting to one's career choices as, after thinking about it, does seem to be that way most often...

    @Siye Baker You have some great thoughts on what my potential success path would be like without a degree and I'd definitely hope that could happen. And thank you for suggesting a new book to read! I'll check it out! And keep you all posted on how things are going!

    @Account Closed You seem to have some very different ideas than the first three responses I received and its good to hear an opinion that's highly in favor of college and diversification. I must admit, I would be too stubborn, without someone smarter than me telling me to go down a different career path, to even consider such a thing. That's definitely a very valid point and I will definitely add that to my list of "paths" to consider. Also, thank you for being willing to send me a free copy of your book. I would absolutely love to read it and am sure it'll help me out!

    @Kathia L. Going for an associate's degree never even crossed my mind. Thanks for suggesting that! Although, like you said, it probably won't get me far from a "here's my shiny degree" standpoint.

    @Bill Gulley Just checking, but F/A does stand for, Financial/Accounting, correct? Aside from that, thank you for your advice! Diversifying into some other sort of degree that does help in real estate probably would be a very good idea and thank you for suggesting it. And for pointing out that college teaches you how to learn (I already knew that, but its certainly good to hear that from someone else) as well as teaches you skills.

    @Account Closed Thank you for adding such a personal story to your advice. That definitely helps justify it. Especially since I'm in that wonderful phase of the teenage life cycle where I know everything ;). Your advice sounds very sage-like and I'll certainly keep it in mind.

    Once again, thank you everyone for responding. And I'm certain I already missed someone whose post popped up while I was writing up my own...

  • Investor · Tallahassee, FL · Member since 2014 · 246 posts · 89 votes
    12y
    Originally posted by @Bill Gulley:


    I've never heard of a RE degree allowing you to skip the state required class to sit for a license, pretty sure that's not done anywhere as state regulations are part of the class and RE commission matters which are not taught in college.



    Generally, only those who suggest not getting a degree don't have one, many feel that it's specialized training, it's not so much. You have demonstrated the ability to learn in a structured environment and in a social setting, it doesn't make you smarter it will make you better educated to address issues in life, not just a job. It's about the quality of life, you'll have a better life overall even if you don't make millions.


    Im not sure if this was a response to me but...

    I was saying that an RE degree would allow you to skip the Real Estate school course(pre-licensing class or whatever it is called)...not the actual state exam. unless there is some mutual recognition or you are grandfathered in, you will need to take it.

    As always, solid advice Mr. Gulley!

  • Lexington, SC · Member since 2014 · 29 posts · 3 votes
    12y

    I like Bill's answer about Finance. It compliments your real estate business and gives you something to fall back on.

    At 16 yrs old, you have a jump on life!

    Best of luck

  • Investor · Chicago, IL · Member since 2013 · 2k+ posts · 1k+ votes
    12y

    I have a Chemical Engineering degree... But that's all irrelevant with real estate investing.

    Knowing what I know now, college is overrated (and overpriced). It does not prepare you for real estate investing. I don't have a business undergrad so Bill G. might have a good point there though. So, if you decide to go to college, then maybe get a business degree.

    In general, college prepares you to be employable not to become an investor.

  • Investor, Entrepreneur, Educator · Springfield, MO · Member since 2009 · 21k+ posts · 12k+ votes
    12y

    Sebastian, RE classes are required regardless of your degree, the only ones that may skip the class, if they can, are attorneys. Everyone takes the RE class and the exam to be an agent or broker. That was my only point to your post.

    World of difference between business degrees and other sciences, a personal finance course is one that simply introduces you to everyday financial decisions everyone has to make, should be required for any degree. Poor dentists, LOL, they seem to be the holy grail for insurance agents. Many vocations have great potential, only one teaches you about money. Yes, F/A is finance and accounting.

    Just an opinion, backed with experience. :)

  • Investor · Los Angeles , CA · Member since 2014 · 132 posts · 25 votes
    12y

    @Matt Lefebvre

    If you look at successful real estate investors most of them did not study real estate so I think you need to look at it from a different perspective. College will expose you to new ideas, new people, new places (especially since you were home schooled). You can do internships in real estate and study finance/business/accounting. As someone mentioned above why are you in such a hurry?

    Take advantage of your college years to learn about the world, people, and most importantly yourself. You might meet future business partners, investors, mentors and employers along the way.

  • Real Estate Investor · Fenton, MI · Member since 2008 · 946 posts · 153 votes
    12y

    Those with college degrees out earn those who do not. If you are going into real estate a degree in finance would help. You will understand mortgages and possibly get a job in that field for a while. For your electives take classes at the community college in things like electrical, plumbing, and HVAC and both micro and macro economics.

    Real estate is a diverse field requiring a wide range of skills. Yes, go to college, but tailor your choices to those that will help you in your situation.

  • Flipper/Rehabber · Metro-Detroit, MI · Member since 2014 · 77 posts · 16 votes
    12y
    I went to college and am currently an agent and soon to be full time investor. I would have liked to earned a finance degree in college to help with what I am doing now, but got a marketing and management degree. While somewhat useful. If I knew I was going to go down this path I would've skipped college and went straight into my career. However. I would've missed out on some AWESOME memories and great times with great people. While I think it's important for kids to get away from their home town and learn to meet new people and live on their own, etc etc. You have to do a cost/benefit analysis (hey..I did learn something in college) and see if it really would be worth it for YOU. What I really wish is that I knew what I wanted to do at 18 and did it. Good luck!
  • Investor · Central Valley, CA · Member since 2012 · 6k+ posts · 3k+ votes
    12y
    Originally posted by @Bill Gulley:
    I've never heard of a RE degree allowing you to skip the state required class to sit for a license, pretty sure that's not done anywhere as state regulations are part of the class and RE commission matters which are not taught in college.

    In California you don't have to take the state required RE class before the exam if 1) you've completed the 8 statutory broker classes taught in college or 2) if you are member of the CA bar.

  • Investor, Entrepreneur, Educator · Springfield, MO · Member since 2009 · 21k+ posts · 12k+ votes
    12y
    Originally posted by @Account Closed:
    Originally posted by @Bill Gulley:
    I've never heard of a RE degree allowing you to skip the state required class to sit for a license, pretty sure that's not done anywhere as state regulations are part of the class and RE commission matters which are not taught in college.

    In California you don't have to take the state required RE class before the exam if 1) you've completed the 8 statutory broker classes taught in college or 2) if you are member of the CA bar.

    Not sure what your point is, I did not say that colleges did not teach statutory classes required, I was saying that a degree would not exempt you from the requirements. A degree program may or may not require that course as a degree requirement, I'd bet it is not as there are many degree areas in RE that have nothing to do with sales transactions and agencies, like Construction Management, Municipal Planning, RE Economic Development, a professional engineer may have courses that could provide a double major or minor in RE, structural engineers and surveyors comes to mind. RE appraisers can be another area where a degree may be obtained without taking the course for the agent's exam. I'd bet the course is an elective and not a core requirement.

    Seems what you are saying is that the statutory classes required are available at colleges, not surprised, they are here too and college credits are given toward several degrees as a business elective. However, my comment was to an RE degree. Pretty much what I said, can sit for the exam without having taken the statutory required classes, regardless of where they are provided or who teaches them.

    I would think attorney's are exempt from classes in all states but they still take the exam for a license. I've never seen where an attorney was not able to act in a real estate transaction in their practice of law or where they were required to have a RE license unless they were regularly involved in a RE agency environment.

    8 hours? Did you mean semester hours or just 8 straight hours? I believe Mo is 30/40+ of instruction time. Since taking mini tests in class are nor instruction time, the class takes just over a week to complete. 8 straight hours would be laughable, can't get through agency laws and relationships of agent/broker in 8 hours. Never mind, I'm sure the requirement isn't just a one day class.

    Seems this time Cali isn't that different than the rest of the nation. :)

  • John HornerPro Member
    Flipper/Rehabber · Columbus, OH · Member since 2013 · 1k+ posts · 655 votes
    12y

    You're a pretty darn smart kid for asking this question this early!

    I was reading real estate books when I was your age but took another 8 years to really start investing.

    College is a great experience and I wouldn't take it back for anything, but was the education worth it? Not really. Most professors are too busy teaching to get out and learn what's actually going on in their given field. They may read about new strategies, etc, but their not out their actually doing them.

    If you do decide to go to college, try to take as many small business, entrepreneurial and real estate investing classes as possible.

  • Investor · Arlington, VA · Member since 2012 · 84 posts · 27 votes
    12y

    @Matt Lefebvre

    "Is it worth going to college for a real estate degree if planning on being a full-time investor?"

    Matt, your question is very subjective. As others have mentioned, earning a college degree will not make you any more successful . Yet, at a minimum, you should take college courses to educate yourself.

    By taking college courses, on subjects that affect real estate, you will be better equipped to make educated decisions. Additionally, it will enable you to speak intelligently with those who do have degrees.

    From personal experience, college does help. What I have learned from accounting, economics, marketing, business math, writing ... you get my gist ... is immeasurable.

    People say education is overrated, yet statistics prove those with degrees earn more. Yes, formally educate yourself by attending college. Now, whether a degree is worth it, is something you should analyze. Best wishes!

  • Mechanicsburg, PA · Member since 2013 · 3k+ posts · 2k+ votes
    12y

    @Matt Lefebvre

    Temple University in Philadelphia has a under grad and grad program for real estate. Donald Trump and Warren Buffet went to the University of Pennsylvania also in Philadelphia and graduated. And nobody ever heard of them again?

  • Investor · White Lake, MI · Member since 2013 · 165 posts · 41 votes
    12y

    @Matt Lefebvre

    Matt,

    I must say that I am very impressed with your planning and thoughtfulness. I am sure that you will be successful at whatever you put your effort towards.

    I do feel that college degrees are worthwhile for many reasons. It helps you learn to work with people (biggest life skill), learn to learn (take knowledge from books and classes and show that you retained the knowledge), and show that you have the commitment to finish a difficult task (graduation).

    With all of that said, I don't think you mentioned what type of real estate investor you plan to be. What area do you plan to focus? Rental investors need money to buy houses, so you will need money from somewhere. Wholesaling is a different ballgame that you can start with less money. Real estate agent is more like a job, but another great way to get started.

    Best of luck!

  • Investor, Entrepreneur, Educator · Springfield, MO · Member since 2009 · 21k+ posts · 12k+ votes
    12y

    Yes, you're an impressive young man, I'd credit you for your maturity and your parents, obviously home schooling has been successful.

    I'm glad to hear too that going to college isn't the question but what concentration you might follow.

    Saw some other comments.

    Any topic can be made difficult, underwater basket weaving could easily get into regression analysis or physics that might cause the average guy to lose their breath.

    In high school I was a jock, played around and grades weren't a concern even in basic courses, my A's were in music and gym. I went in the Army where I matured, then went to college and went through on the Dean's List.

    I went to college with my wife, she attended a private college half a day her senior year in high school, took advanced calculus and of course graduated H.S. with honors. I just began taking classes with her, got some core stuff out of the way and started taking accounting courses. Came to the point to declare a major, my wife informed me that we didn't need two accountants in the house! I chose finance because all the accounting courses were credited toward that degree. Ended up with a double major and minored in economics. These three areas are all about money and there are conflicting theories or applications with logic so that combination can be a little tougher to grasp. I'd say that there were some study hard spots, but it wasn't difficult. At the grad level it still wasn't difficult, just time consuming with much more research involved. I already had rentals, there wasn't much applicable from what I learned to collecting rents, but I did have a better understanding of the financial aspects.

    Much of my education was paid for by the GI Bill, but I did have expenses and it wasn't all covered, so I didn't have the expense most students have today. But it is a fact, the average college grad makes much more than one who fails to get a degree.

    A business degree in entrepreneurship is offered now, I have no idea what the curriculum is. I would imagine it would be heavy in finance, or should be.

    I was talking to a friend last week who is a plant manager of a large industrial plant here. He made the comment that those with a finance degree/background can walk into any industry and manage at a senior level. Where other business degrees are more specialized, like personnel management or marketing, the numbers folks get all aspects of business as everything accomplished effects the economic and financial oversight of business operations. He was saying more CEOs of the Fortune 500 have finance and advanced degrees than any other. I don't really need a great knowledge of chemistry to run a chemical plant, I'd have technicians, engineers and specialists in any industry to take care of the product, but all products created in business are simply widgets, items that are aspects of production. It all gets to the bottom line, which is the scope of finance.

    I would never have accomplished what I did with my formal education, things just would have never happened. Won't say I couldn't have been successful without my education but certainly never as successful or even more importantly, as easily.

    If you look at my profile you'll see that I'm not a company man type, I've always done just about whatever I felt like doing. RE and lending was not my only venture, I've been involved in steel fabrication, restaurants, hospitality/resorts and the grocery business. These all came from being in finance, the opportunities never would have arisen had I not been where I was. Good chance I never would have gone into lending had I not been a bank examiner. I never could have been an examiner had I not had a degree in F&A. Wouldn't have been hired in the first place!

    When people say college grads don't work in their major, that may be true, some do, but that degree made other things happen, other opportunities wouldn't have come their way most likely had they not accomplished what they had. Your professional career is much like other aspects of life, full of choices and opportunities and each being like the rung of a ladder, you go up by one choice or opportunity at a time. The things you get to do are built on what you have done.

    I can't even imagine doing one thing, like being a Realtor, for 30 years, how boring that would be! I really admire a much older friend who had rentals, after the Korean War he was employed at a factory, stayed there to retirement, over 40 years inside the same walls. I'd say he deserves a medal! I'd go nuts. His wife never worked, three kids, has more than he needs, a saint of a man, a high school education and successful in life in eyes. Today, you really can't do what others did decades ago. It's a different world and you better get ready to compete in the world. :)

  • Investor · Tallahassee, FL · Member since 2014 · 246 posts · 89 votes
    12y
    Originally posted by @Bill Gulley:
    Sebastian, RE classes are required regardless of your degree, the only ones that may skip the class, if they can, are attorneys. Everyone takes the RE class and the exam to be an agent or broker. That was my only point to your post.

    "Any applicant for licensure who has received a four year degree in real estate from an accredited institution of higher education is exempt from the Commission-prescribed prerequisite education to become initially licensed"

    (Section 475.17,F.S., and 61J2-3.008, F.A.C.)

    I can only speak for the time I was in RE school back in 2006. Things might be different now, and if that is the case then I stand Chastened and Rebuked :)

  • Investor, Entrepreneur, Educator · Springfield, MO · Member since 2009 · 21k+ posts · 12k+ votes
    12y
    Originally posted by @Siye Baker:
    Originally posted by @Bill Gulley:
    Sebastian, RE classes are required regardless of your degree, the only ones that may skip the class, if they can, are attorneys. Everyone takes the RE class and the exam to be an agent or broker. That was my only point to your post.

    "Any applicant for licensure who has received a four year degree in real estate from an accredited institution of higher education is exempt from the Commission-prescribed prerequisite education to become initially licensed"

    (Section 475.17,F.S., and 61J2-3.008, F.A.C.)

    I can only speak for the time I was in RE school back in 2006. Things might be different now, and if that is the case then I stand Chastened and Rebuked :)

    Well, I'll assume that's all it states, in that case I'll eat my crow! I suspect that, as I mentioned in generalities before, that a RE degree could be had without the specific statutory requirements, in which case, if you can answer the exam questions pertaining to the RE commission structure and areas I mentioned, then you're good to go. Now, if that degree requires a class that meets state requirements, we're kind of back to the K. Marie post and I'd not be incorrect as that class included the state requirements. In her case, the state required class is given in a college class and isn't what I was saying. But, from what you posted I would be incorrect! I'll mark that up as my second error this year, you get 100 "Got Bill" credits, LOL.

    I'd guess that Florida has enough questions on they exam to fail it if you simply had a degree and didn't study other state specific aspects. Here, there were questions about the RE commission, their authority, powers, how many commissioners there are, how they are appointed, when and where they meet, etc. enough to fail if you didn't study that stuff. They seem to think that stuff is really important, it is in a way if you get in trouble I guess. :)

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