Real Estate License - best way to learn?

22 Replies

@Michelle Verdugo

Personally I have found that getting my real estate license has definitely increased my knowledge in all of real estate including terms, contracts, and just the overall process of a deal from start to finish. It is also great for networking with other agents, investors, lenders, contractors and many others that are beneficial to real estate investors.

Having your license can be very time consuming with classes and studying to passing your test and also to providing good service for your clients ie working weekends and evenings.

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Originally posted by @Kyle Perry:

@Michelle Verdugo

Personally I have found that getting my real estate license has definitely increased my knowledge in all of real estate including terms, contracts, and just the overall process of a deal from start to finish. It is also great for networking with other agents, investors, lenders, contractors and many others that are beneficial to real estate investors.

Having your license can be very time consuming with classes and studying to passing your test and also to providing good service for your clients ie working weekends and evenings.

Agree with Kyle. It can be a great way to learn more about real estate and network with others in the industry. 

If you can, find a good broker that is familiar with investing.

Get your license and receive a commission when your purchase MLS listed properties. It will also give you more credibility. I have had sellers tell me they prefer to deal with me as a licensee.

@Michelle Verdugo

If you have time I’d suggest taking an in person class. I’m sure you can find which one is best through talking with your local agents or even a quick google search.

If you don’t have time to go and sit in a class multiple nights a week then maybe an online class would be more beneficial. My wife just did it online and used “Real Estate Express”. She thought the class was super easy to follow along with

@Michelle Verdugo heck no. please don’t do that. i was an agent for a short time. it is kind of like traditional school. meaning, for example, what was the last time you use pythagorean’s theorem?

if you want to learn about REI i have about 15 podcasts that i listen to every week. if you're hooked on something more structured you could even just buy the real estate agent course books if you think they may add value. lastly i think your money would be even better spent on paying a mentor to teach you or even taking a guru's class, which kind of makes me cringe to be honest. however, i will say, at least when i took the real estate agent course, there was very little on actual investing.

@Michelle Verdugo I'm in a similar boat. I'd also like to get my license so I can can buy/sell my own properties, get MLS access, potentially make a few bucks on the side or perhaps be a "full-time" agent after I have kids so I can keep my resume current and work from home...but I'm stuck on finding a broker who will let me hang my license with them knowing I don't have any intention of being a traditional, full-time agent. I'm still doing my homework and deciding if it's worth the effort.

@Michelle Verdugo

I can't speak for everyone in every state but literally the only information i use on a daily basis that i took from the RE licensing is how many feet are in an acre. Every thing else was useless.... if your goal is to earn a commission on your sales, get the license. If your goal is to learn, skip it.

@Michelle Verdugo I just passed the state test here in Florida for my License. I used Real Estate Express online course because I did not have the time to sit in a class. That being said my objective was to get my license so that I could become an agent. I already had a decent knowledge of the RE world and terminology. If you are doing this just for the sake of knowledge then read more books or take an in person class. The online courses are less designed to help you know all things real estate and more designed to make sure you know the laws around what you can and can't do as an agent. 

@Nicole Heasley I don't know if there is a weichert realtor franchise around you but I am hanging my license with them and they know I will not be full time. I have heard decent things about EXP realty also. Additionally after I applied for the state test I received 10-15 emails or letters from brokers asking me to hang my license with them. Many or them were brokers that were designed for part time or referral agents. Moral of the story get your license and someone will take you. 

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@Michelle Verdugo you can certainly learn a lot by getting your license but only if you are actively using it or utilizing the broker's training.  There are regular fees involved with being a licensed agent so you'd probably want to use it for more than just learning.  

@Ryan Deasy Don't want to get stuck in analysis paralysis. Been a broker/agent 15 years. What podcast would you recommend listening to that will cover REI marketing basics etc.? Thanks Ryan for the input.

Hey @Michelle Verdugo! I got my license AFTER getting 24 multifamily units, and I have learned a ton and continue to do so. If you love real estate, I’d definitely say it doesn’t hurt!

If you plan to use your license for your own investments, pay attention to disclosure rules and to brokerages that are beneficial for investors.

I love networking with people, especially investors and military, so this is a fantastic way for me to serve others and earn commissions doing so in order to buy more of my own investment property.

You don't want to take the classes only to learn just to never take the test and not have an active license. You can just get the book for the real estate course in your state if you want to learn from a former student and forego the classes. But you should want to get your license, not to be an agent even though that works for me, but so you can see properties whenever you want that are on the market. As I am sure you already know, most agents don't understand investors so they don't know why we want to see 10 awful houses in 3 hours when they aren't getting a big commission on an REO buy-side. When you have your license you can see 10 houses at your pleasure and make your own offers for on-market properties without waiting for an agent.

I would say though that listing your properties is a specialty. I have seen way too many flippers with licenses list the property themselves, but not get professional photos and not provide the service to the agents that is necessary to generate multiple offers for a flip. The license is most useful as an investor for seeing as many on-market crap houses that you can before anyone else sees them.

As an investor my whole life, I've worked as an agent for Sotheby's, Keller Williams, Berkshire Hathway, and eXp currently for the second time. eXp is by far and away the easiest to work with as an investor agent. They don't hassle their agents and the fees are minimal. That's what you want from a brokerage and there are others that will do the same.

@Jason Quero hey Jason, happy to provide my opinion. the two best podcasts for what you’re looking for is the biggerpockets podcast and the rental income podcast with Dan Lane. I was a guest on episode 212 on that podcast. i listen to many others but i am really getting frustrated with the “fluff” and some of the non-constructive stuff that goes on many of the other ones.

some others that are good are Adam Adam's creative real estate podcast, joe fairless' best ever podcast, rod kleifs podcast, the old dawg REI Network podcast and also michael blanks podcast.

@Michelle Verdugo Errmmm... This is an interesting question. 

I got a RE License and I've only used once thus far. 

Yes, I learnt a ton but then again I forgot most of it anyways because I don't use the knowledge every day per se 😬😬😬(I am being too honest here, lol). 

The reason I mentioned the above is if you are not thinking of selling Real Estate to the public as your everyday activity I'm not sure if the knowledge gained will be helpful for that. 

For instance, you don't learn a ton about Real Estate Investing as you are taking the RE licensure course. As a result, if you wanted to focus on buying, say, Mobile Home Parks, yes, a RE license won't hurt, but you won't learn how to run a Mobile Home park successfully. 

With all that said, I suggest you think about what you think you like doing in Real Estate and then learn that piece and find a way to learn that strategy in the structured format you prefer. 

@ola Dantis I guess by asking what book or class I'm shirking the responsibility of setting some sort of goal first (get focused on what I like in RE) and then pursue that goal. Having to articulate some of these thoughts here and in private dm's has helped me get some clarity. And in one afternoon no less. thank you BP fam.

@Michelle Verdugo, the license coursework is only beneficial for taking the license test. It literally teaches you nothing you need to know about anything involving real estate. Like @Jameson Sullivan, I only learned one thing - how to measure properties in the mountains, and I don't even sell anything in the mountains!

Having a license is great for getting into properties you want to see, but if you're not selling at least one house every other year, it is not cost effective to get your license.