Well, it is official. I've completed the on-line coursework (talk about painful), passed the Realtor exam, passed the state exam, and now just need to pick a broker! I'm excited to make some calls monday morning.
The only person who's going to be pissed is my agent!
Congrats Mark!! I was also thinking of going the online route offered by my realtors association here in Syracuse. I was curious of how long it takes to complete the on-line coursework and then the necessary exams?
from some of the conversations we've had in the projects you've been looking at, my guess is you will have more experience than almost any other beginning real estate salesman! Great job. I know you will be an asset to whatever broker you select. Don't let them take advantage of you for very long! Rich
Congrats Mark, Look forward to hearing more of your success...
@Dave Charron it is self paced on-line. You have a pretty big window to get it done in. I think around 6 months. I spoke with a few people that did the hours in class and they said it was painful as well. At least with on-line you can get it done at your pace. I did a few power sessions, and made sure to do at least something before bed every night. It took me since mid december, but I'm balancing a heavy work load at the moment. The worst part about it was that it forces you to stay on a slide for a given amount of time before you can click ahead. There are about 100 slides with 10 words to read... so you're waiting waiting bored watching the ticker count down on those. The exams take less than an hour.
@Rich Weese , Thanks! I'm not sure how many I'm going to review before picking one. I've got a good relationship with a broker (my former landlord of 7 years during college) & I'll give him first opportunity to match me up, but I'll be comparing it to another brokerage firm to make sure he's being fair. I brought him over a million of RE sales over the last 5 years, so he better be straight with me :D
I'll keep you all posted on my progress!
Congrats Mark on your success.
Congratulations! Also thanks for posting this, as I didn't realize you could now do online coursework for real estate licenses. When I got mine three years ago I had to take it in an actual classroom. I need to get my broker's license now and I'm going to do it online. I am busy running my business and the classes offered here really don't fit in my schedule.
Mark, i missed this earlier--Congratulations!!
BP has been such a great influence on my investing, and I tribute it to the support and encouragement of my new friends and mentors!
As an update. I did have a sit down with the broker I have a good relationship with. He advises me to decide if I want to make it a career or not. If not, he can offer me 70% of the commission on my deals, but I won't be an official salesperson, so I can't write my own offers & I'm not sure if I would get the MLS access I've been longing for. I will probably make the commitment, but due to the fees (about 12K per year at Remax), I am going to hold off until I get my open projects finished.
Congratulations Mark! I'm still in the middle of my pre-license course so I can relate to the pain you speak of. :p
Originally posted by Mark Updegraff:
I will probably make the commitment, but due to the fees (about 12K per year at Remax), I am going to hold off until I get my open projects finished.
Congrats on the license. I finished my Oregon coursework (150 hours) two months ago, but haven't really been in a hurry to take the exam (probably because I am also enrolled in college). I knew there were going to be some fees involved when I become associated with a principle broker out here, but I hope I can find a better deal for myself than $12k.
Thanks Cheng V.!
Thanks Jeff Z! - Remax is a little higher when comparing at 1MM in yearly sales. However, when you get up to 2MM or 3MM / year in sales it is much better a structure than Nothnagle / Keller Williams etc. They slide up about 1500 per 1MM where the others end up around 25K at 3MM sales.
Many Re/Max agencies do 100% but have hefty monthly fees.If you aren't closing you are paying through the nose.
If you close medium to larger deals then the 12,000 is not bad for what you get.Keep in mind that would just be Re/Max fees and not all the other fees that you need to pay yearly.
Sometimes you are hit with a franchise fee per transaction as well in addition to the monthly fee.So it's all in the details.
I don't know whether to say congrats to you or say a prayer for your poor soul for becoming an agent ! Let the abuse begin ! After all us brokers/agents aren't worth anything............ (sarcasm) LOL
Congratulations on passing the exam!
Congrats on passing the exam. I plan to do the same thing one of these days.
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