Becoming a Real Estate Agent in College

Buying & Selling Real Estate
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Becoming a Real Estate Agent in College

Ben Morand
Property Manager · Central Florida · Member since 2020 · 236 posts · 128 votes

Hi guys!

My name is Ben Morand. I am currently a sophomore student at the University of Florida. Right now, I am extremely interested in becoming a Real Estate Sales Associate and have been recommended to start part time while I am in college. I have gotten my fingerprints done and applied for my license, and I am about 70% done with the pre-licensing course.

To give a little background, I am currently working on my B.S.B.A in Finance with a minor in Economics. And next year, I am starting a combined Masters degree in International Business, with a specialization in Finance. While I do have a lot on my plate, I am so motivated to get into the world of real estate (ultimately, I also would like to start investing as well in the next year or so). I am heavily attracted to the idea of working independently as a sort of entrepreneur (I am not opposed to working hard or for many hours, it is more so the fact of choosing how I want to live my life and run my business).

I am wondering if anyone has any tips or suggestions about how I should get started and go about doing Real Estate sales part-time in college? I want to build a relatively strong foundation for myself during these last 2 years of college and I am not really sure how to go about that.

Any tips on 'large broker (KW,ReMax, etc.) vs small broker (local broker)', day in the life, how to get the first sale, etc. would be greatly appreciated! I am open to answers in this discussion or via PM. Thanks guys!

Ben

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Chris Soignier
Real Estate Broker · North Richland Hills, TX · Member since 2013 · 1k+ posts · 607 votes
6y

Ben, the first key IMO is getting the word out to your sphere of influence that you're in RE when you get licensed, and ask them who they know that may be buying or selling in the next 6 months.  Doesn't matter where they are, you can still earn a referral fee for connecting out-of-town leads w/ agents in that area.

As far as brokerages, there are many great choices with a wide variety of business models. Sept will be my 4 yr anniversary w/ eXp Realty, and I'll be there for life.  Have you read Robert Kiyosaki's Cash Flow Quadrant?   Most agents are firmly in the S quadrant, whereas eXp is the only significant (if any) broker that puts you in the B and I quadrants as well.

I have a brief interactive presentation for you if you'd like to learn more about the benefits of eXp's disruptive business model:   www.umustsee.net/JKX5XH

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  • Bob Okenwa
    Real Estate Agent/Investor · Peoria, AZ · Member since 2016 · 2k+ posts · 2k+ votes
    6y

    It sounds like you'll have a lot on your plate right now. It'll be challenging trying to do showings or listing presentations if you have to study or are in school when a potential client is available. The most important ability of a good agent is availability. If I had a dollar for every agent that didn't answer or return a call, text, or email, I'd be ranked in the Forbes 100 richest people lol.

    All jokes aside, you need to ask yourself what your goals are with your license and career. Do you want to go into finance or actually be a real estate agent? Having a license is beneficial for doing deals for yourself, but isn't necessary to learn how to be an investor as what they teach in school doesn't directly correlate to investing or being an agent. They don't teach you how to spot a good RE deal or how to build a clientele base.

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  • Chris Soignier
    Real Estate Broker · North Richland Hills, TX · Member since 2013 · 1k+ posts · 607 votes
    6y

    Hi Ben, I have a BBA and an MBA in Finance, and had a great 20+ year career in finance, the majority of it @ Dell.  No regrets, but if I knew then what I know now I would have gotten into real estate decades ago.  I made great money in corp America but didn't achieve financial and time freedom until after I left it 5 years ago.

    As you know, college is expensive.  Get your license and work in RE in your spare time, but if you're staying in college, don't let chasing $$$ take too much of your focus and energy off your studies.  

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  • Ben Morand
    OP
    Property Manager · Central Florida · Member since 2020 · 236 posts · 128 votes
    6y

    @Bob Okenwa I totally get that. I wouldn’t plan on committing myself full-time to real estate just yet but I am very interested in pursuing it after college. Right now, I am focusing my efforts on bachelors and masters degrees relating to Finance/Economics in hopes to have various options when I graduate. I just recently got heavily invested in Real Estate education after reading a few books on the matter. I would like to (if possible) get my feet wet in the Sales Associate market part-time to really see if it is something that I would like to pursue as a career, even if it means only working a few clients per year. As of now, it seems very enticing, as I have founded some other small businesses in the past and find it so rewarding to be able to run your own business on your own schedule. What I am not sure about, however, is finding the right sponsoring broker for my goals. I am wondering how the dynamics of a large firm such as KW or ReMax works in comparison to a smaller, local brokerage.

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  • Ben Morand
    OP
    Property Manager · Central Florida · Member since 2020 · 236 posts · 128 votes
    6y

    @Chris Soignier Hi Chris! Your story sounds very similar to how I’d like to pursue my career. Right now, I am looking at finishing my studies in 4 years from the University of Florida. When I graduate, I will have a Bachelors in Finance, a minor in Economics, and a Masters in International business. I am currently interviewing with some management consulting firms. However, I would love to pursue Real Estate sales part time, as it is something that I truly find myself passionate for. Do you have any tips on starting part-time in college? I am really looking for how to decipher the benefits and drawbacks between large brokerages such as KW and ReMax vs smaller, local brokerages. Do you have any advice on this matter or anything else?

    1Reply
  • Chris Soignier
    Real Estate Broker · North Richland Hills, TX · Member since 2013 · 1k+ posts · 607 votes
    6y

    Ben, the first key IMO is getting the word out to your sphere of influence that you're in RE when you get licensed, and ask them who they know that may be buying or selling in the next 6 months.  Doesn't matter where they are, you can still earn a referral fee for connecting out-of-town leads w/ agents in that area.

    As far as brokerages, there are many great choices with a wide variety of business models. Sept will be my 4 yr anniversary w/ eXp Realty, and I'll be there for life.  Have you read Robert Kiyosaki's Cash Flow Quadrant?   Most agents are firmly in the S quadrant, whereas eXp is the only significant (if any) broker that puts you in the B and I quadrants as well.

    I have a brief interactive presentation for you if you'd like to learn more about the benefits of eXp's disruptive business model:   www.umustsee.net/JKX5XH

    1Reply
  • Ben Morand
    OP
    Property Manager · Central Florida · Member since 2020 · 236 posts · 128 votes
    6y

    @Chris Soignier I actually have read Cashflow Quadrant. Great book! Your link to the eXp presentation was very interesting. I’ll look more into it. Thanks for the help!

    0Reply
  • Jonna Walters
    Real Estate Agent · Peosta, IA · Member since 2016 · 2 posts · 2 votes
    6y

    I love your drive, Ben.  I started out and worked with a small broker my first 3 years. Small brokers don't have the technology necessary for today's buyers and sellers.  I didn't have access to the educational opportunities provided at a larger brokerage. And, I was competing with my broker for clients.

    I have been with KW for over 2 years now and I love it! The technology is amazing. I can enter a new Buyer/seller client and take them from 1st contact, making marketing materials, tracking communication, setting up drip campaigns and all the way through the closing process in one place. It keeps me from having to buy different apps and makes it so easy. They also give you your own website to capture leads. The "culture" of Keller is to work together. Stanford has actually done studies on KW culture  and the educational opportunities are numerous. KW understands that the agents are their customers so everything they do is geared to help the agents.  There is also the opportunity to earn 100% commission and fees are low. So many great things I could tell you.  Keller also encourages teams. Maybe you could start out on a team while in school and learning the ropes. Then when you are done with school you will have the tools you need to set the world on fire.

    I have been so happy with my decision to join KW. Let me know if you have more questions. I would be happy to help.

    1Reply
  • Ben Morand
    OP
    Property Manager · Central Florida · Member since 2020 · 236 posts · 128 votes
    6y

    @Jonna Walters Thank you so much for your insight! I think for me, a huge thing is the fact that my university (in Gainesville, FL) is about 2 hours from my home (Orlando, FL). So I live the school year in Gainesville and the summers in Orlando. By any chance, is KW flexible with location? I guess my question is: what is the office/at home work divide like? Would I be able to work remotely for the summer months or would it be beneficial for me to stay in Gainesville year-round?

    I am trying to weigh all the benefits of different brokerages. I have heard nothing but good things about KW, so it is one that definitely intrigues me!

    Also, another question: what exactly is the training like at KW? I have heard that it is great, but is it hands on or is it more of a module-based training?

    Thanks so much!

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  • Jonna Walters
    Real Estate Agent · Peosta, IA · Member since 2016 · 2 posts · 2 votes
    6y

    It may be difficult being in one location 3 months and another 9, but I know agents that go to Florida for the winter and actually have their license their too. It can also be more expensive. But, I see lots of opportunity for gaining experience before you graduate.

    The training can be hands-on or there is a ton of online. KW is great for an agent just starting out because of the training they offer. Where I am they are bringing people in and having experienced agents present to us often. Our ownership really fosters the culture and helping each other because when we help each other we all win. It really depends a lot on the ownership of KW in your area. My market center has a productivity coach new realtors work with for 6 months or 6 deals.

    It's important to get the feel of the office before joining.  I would also always suggest visiting different brokerages as they all have a different culture and you have to find the one that fits best with what you need. For me it has been Keller.

    I would love to give you some advice how I think you could get some experience before you graduate. Email me if you would like to continue the conversation. I connected with you so you have my info.  Good luck!

    1Reply
  • Ben Morand
    OP
    Property Manager · Central Florida · Member since 2020 · 236 posts · 128 votes
    6y

    @Jonna Walters Awesome, thanks Jonna!

    0Reply
  • Nate Monson
    Real Estate Agent · Albany, NY · Member since 2017 · 309 posts · 149 votes
    6y

    Hey @Ben Morand, I was in your shoes just a few short years ago. I was in my first semester of Grad School and came across real estate investing and decided to get my license while I was in school to try to earn some extra money. I realized there was another way to earn money outside of the 9-5 life and never looked back. When I got started I joined a smaller brokerage and tried to figure it out on my own so the first year or so was super challenging. I spent a lot of money on the new thing I heard on a podcast or in my research and never really hunkered down and stuck to a system. But during the year I learned a lot about myself regarding what I do and don't want in my business. A lot about my strengths and weaknesses and with my brokerage being super new (I joined a few months after it opened) I learned a lot about how to build a business from ground zero. Today our brokerage is breaking through and heading toward being one of the top firms in our market. 

    So to give my story some direction, I think there is a significant benefit to joining a small brokerage and figuring things out on your own. If you are to join a bigger firm you are going to probably learn the "right way" to do business in real estate and even make some money in your first couple of years. But you are going to be missing a sort of creativity and learning about yourself that you get with a smaller brokerage. I am obviously a bit biased because of my experience, but I wouldn't trade the path I took for anything in the world even though it was a really hard path to get here.  

    Going back to having your license in school...I think the #1 thing I had to overcome was my thought that because I was young or in school that people wouldn't take me seriously. But the truth is the only reason people aren't going to take you seriously is if you don't take yourself seriously. And getting over that hump is difficult but it will open you up to talk to people more confidently and actually get business. 

    All in all dude, you got your mind in the right place already. Keep working hard keep forward thinking and you're going to be a success in anything you put your mind to. Feel free to reach out if you want to chat more about my experience, I'd be more than happy to share more!

     

    1Reply
  • Ben Morand
    OP
    Property Manager · Central Florida · Member since 2020 · 236 posts · 128 votes
    6y

    @Nate Monson Thank you so much! I just connected so I’ll be sure to reach out soon to hear more about your story.

    0Reply
  • Nate Monson
    Real Estate Agent · Albany, NY · Member since 2017 · 309 posts · 149 votes
    6y

    @Ben Morand Sounds good man

    0Reply
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