19 Yrs old thinking about getting real estate license

19 Yrs old thinking about getting real estate license

Real Estate Agent · Howell, MI · Member since 2019 · 25 posts · 17 votes

As the title says, I’m a 19 year old college student. I’m finishing my first semester in two weeks and overall I was pretty successful. The problem is I’ve yet to feel truly happy with what I’ve done with my life. I’m going to school for a degree in Chemistry and I just can’t see myself doing it the rest of my life. I’ve recently gotten very interested in real estate. I am thinking of getting my real estate license and dropping out. While I realize this is a big choice, I feel like it’s not that unrealistic. From what I’ve gathered so far I plan on working for a brokerage firm possibly with other agents and splitting a portion of commission. A big influence on my decision is the fact that I will no longer have to worry about my student loans going forward and I’m am able to live with my parents starting out. This means I’m able to start saving essentially all income to be able to make future investments down the line. Am I being too ambitious? I realize being 19 is young in this industry but I’m able to put in more hours and work harder than my competition. Any advise with finding a firm to work under once I get my license, what’s important starting out, and any other tips would be greatly appreciated.

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Real Estate Broker · Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH · Member since 2013 · 30k+ posts · 20k+ votes
6y
Originally posted by @Jacob Merritt:

@James Wise Congratulations on the success! Is there any tips you would give to a new agent to get an edge?

 Content marketing stuffed with value. I see new agents posting pictures of their business cards on their Facebook pages and saying things like "hey guys it's me Billy. I am a Realtor now so reach out to me if you're thinking about buying or selling." That is total garbage. NOBODY CARES BILLY! Provide value in your advertising. Give people a reason to read what you are posting. That will give you an edge.

Take me for example. I have answered 3 or 4 of your questions now. I am not doing this because I am a nice guy. I am providing you with free value in exchange for the exposure I get from posting that value here publicly. You and others who are reading this post are probably going to my website and subscribing to my YouTube channel because I've sparked your curiosity about where I got the knowledge that I have given to you for free. That is great content marketing which draws you into my revenue generating funnel.

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  • Real Estate Agent · Howell, MI · Member since 2019 · 25 posts · 17 votes
    6y

    @Dwight Simpson Thanks for the advice! There’s only one way to know if real estate is right for me and that’s giving it a shot! Wish you the best, thanks again!

  • Nashville, TN · Member since 2017 · 2 posts · 1 vote
    6y

    @Jacob Merritt

    I have read all the replies. I guess this topic is very polarizing. A lot of people are encouraging you to become a real estate agent and a lot are pushing you away because of some of the obstacle you may face.

    Here’s my suggestion. Stay in school for a few more semesters. In the meantime, find a real estate agent that would be willing to mentor you. Reach out to agents in your area and offer to take over some of there responsibilities (responsibilities they dont like doing. Ex: paperwork, or showing a home on a holiday when they would rather spend time with their family) in exchange for their guidance. Reach out to many people as possible and I’m sure somebody will be willing to help. See if you actually like being an agent. Once you have a good grasp of the responsibilities, you will be able to make a better decision for yourself without risking your education.

    There’s my 2 cents. Good luck, sir!

  • Rental Property Investor · Tucson, AZ · Member since 2019 · 173 posts · 87 votes
    6y

    @James Wise

    What about the classic "I'll help you find your dream home" plastered all over agent marketing campaigns lol.

  • Real Estate Broker · Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH · Member since 2013 · 30k+ posts · 20k+ votes
    6y
    Originally posted by @Patrick J.:

    @James Wise

    What about the classic "I'll help you find your dream home" plastered all over agent marketing campaigns lol.

     Puke

  • Rental Property Investor · Tucson, AZ · Member since 2019 · 173 posts · 87 votes
    6y

    @Christian Cramer

    I'm curious about your model. You pay buyers agents 3% and only take 1% for yourself??

  • Property Manager · Kihei, HI · Member since 2016 · 85 posts · 97 votes
    6y
    Originally posted by @Patrick J.:

    @Christian Cramer

    I'm curious about your model. You pay buyers agents 3% and only take 1% for yourself??

    We pay buyer's agents 1-2% depending on how in demand the property is. We take 1%. Seller normally pays 3% in total. 

    If we represent the buyer, we split whatever commission we receive 50/50 with them. 

    Median home price on my island is over $800,000. Very easy value proposition to sell when the seller will save over $24k on a 800k sale. Also, because of how low inventory this market is, pretty much everything that is priced reasonably well will sell. If the property is really desirable even a 1% coop will sell it, another agent will not tell their buyer "No" because of the coop, and if they do, they will normally just call us directly then. 

  • Real Estate Agent · Howell, MI · Member since 2019 · 25 posts · 17 votes
    6y

    Anyone curious for an update: I made the decision to drop out and I’m currently taking a real estate course for my salespersons license. I’m a 1/3 of the way completed and will give more updates as I progress! Thanks again to everyone who’s provided feedback, I appreciate it!

  • Realtor · Reading, MA · Member since 2016 · 19 posts · 11 votes
    6y

    Hey Jacob,

    I can relate to how you're feeling. I entered college studying athletic training and switched from that after my first full year because I couldn't see myself pursuing that industry. I'm guessing you went into your first semester feeling confident chemistry was your future but now you're questioning it. Sometimes college classes can make it challenging to envision what work you will do after graduating. If the biggest reason to drop out is avoiding student loans, I would look into cheaper schools that can get you the same end result. The name of the school you attend is less important than the degree you receive. This is a trap I think a lot of students do not realize and they think the loans are worth it to go to a school with a certain name attached.

    I would recommend maybe looking at how school may benefit you and your goals long term, not short term. You may see the value or you may not and that is going to be a personal decision. In the meantime, you can still get your real estate license now and get started. I knew some classmates in college who did this outside of classes and I wish I did that as well.

    Just for some perspective - I went through my final years of school very interested in real estate. I now work as a real estate analyst on the credit side. There are many different jobs within the real estate industry that you may want to research and see if any peak your interest. From there, see what the educational requirements typically are.

  • Real Estate Agent · Howell, MI · Member since 2019 · 25 posts · 17 votes
    6y

    Hello again, while I never expected the amount of support from biggerpockets on this post, I greatly appreciated every reply! I'm providing my as promised update which is I decided to fully pursue my real estate license and as of 02/13/20 I am a licensed salesperson in Michigan! I'm still researching the broker I'd like to work under and will give another update when I hang my license!

  • Real Estate Agent · Houston, TX · Member since 2019 · 240 posts · 155 votes
    6y

    @Jacob Merritt

    Hey Jacob! Congratulations on getting your license! It takes a lot of courage to drop out of college and pursue a career in real estate so you should be proud of yourself for that! I was recently in a very similar position as you when I decided to take a gap year after graduating High school and got my realtors license as well. If you’re still on the hunt for a great broker with a great mentorship program I can help introduce you to eXp realty, the company that I ended up partnering with. I wish you all the luck in the world on your future in this business and I hope you can look back one day and say that you’ve made the right decision to become a realtor!

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