How to become a real estate agent/investor in Washington State

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How to become a real estate agent/investor in Washington State

Wai Chun Ng
Member since 2019 · 3 posts · 0 votes

Hello everyone,

I'm 38yrs old, after living in NYC all my life, I want to start a new career as a real estate agent and investor in Tacoma/Puyallup Washington.  I appreciate any advice on how to become an agent in Washington State.  Should I apply a job at a local broker, so I could learn more then apply for a license?  Or, should I go to real estate class then take the test?  What are the Pros and Cons.

Wai

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Andrew Hodgson
Real Estate Broker · Olympia, WA · Member since 2016 · 79 posts · 55 votes
7y

Hi @Wai Chun Ng

In WA you must complete the classes to prep for the license test, then if you pass you must apply with a brokerage firm to activate your license. You must "hang your license" at a firm. Be sure to look online at Rockwell for your license prep classes, that program has one of the best exam pass rates in WA.

I second Jay's sentiment that you probably won't find a lot of hand holding as a new broker, at least not from other brokers. However, during the first 2 years as a new broker you are supposed to be under close supervision by your firm's designated broker, so that you learn the job and don't bring liability to the firm. After you pass the test and have your license my advice would be to interview with a lot of firms, and then choose the designated broker that you believe will invest the time with you for you to be successful. Also look for firms with a high degree of tech integration and systems in place that produce results (lead generators, marketing, CRMs, transaction management tools, etc)-- that will go a long way to getting those first few deals underway and building momentum. 

Pros: gets you plugged into the real estate scene; allows you to network with people in the industry doing the deals that you want to do; full MLS access; training on state-wide standard forms; held to a higher standard of ethics in all your real estate dealings (yes, this is a pro!)

Cons: opportunity cost of the time needed to get thru the test prep classes; start up costs for the license and then at your firm; no consistent pay at the beginning; cold-calling :)

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  • Jay HinrichsBusiness Member
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    7y

    go to Pro Schools .com  and buy the pre license course.. once you make application to take your state exam. you will get all sorts of solicitations by local brokers and agencies.  

    the days of Agencies hand holding non licensed agents why they studied is long gone.

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  • Andrew Hodgson
    Real Estate Broker · Olympia, WA · Member since 2016 · 79 posts · 55 votes
    7y

    Hi @Wai Chun Ng

    In WA you must complete the classes to prep for the license test, then if you pass you must apply with a brokerage firm to activate your license. You must "hang your license" at a firm. Be sure to look online at Rockwell for your license prep classes, that program has one of the best exam pass rates in WA.

    I second Jay's sentiment that you probably won't find a lot of hand holding as a new broker, at least not from other brokers. However, during the first 2 years as a new broker you are supposed to be under close supervision by your firm's designated broker, so that you learn the job and don't bring liability to the firm. After you pass the test and have your license my advice would be to interview with a lot of firms, and then choose the designated broker that you believe will invest the time with you for you to be successful. Also look for firms with a high degree of tech integration and systems in place that produce results (lead generators, marketing, CRMs, transaction management tools, etc)-- that will go a long way to getting those first few deals underway and building momentum. 

    Pros: gets you plugged into the real estate scene; allows you to network with people in the industry doing the deals that you want to do; full MLS access; training on state-wide standard forms; held to a higher standard of ethics in all your real estate dealings (yes, this is a pro!)

    Cons: opportunity cost of the time needed to get thru the test prep classes; start up costs for the license and then at your firm; no consistent pay at the beginning; cold-calling :)

    2Reply
  • Lien VuongBusiness Member
    Real Estate Agent · Boston, MA · Member since 2018 · 2k+ posts · 1k+ votes
    7y

    It depends on what you're looking for. What is more important to you, being an agent - starting a new career or being a real estate investor while working another job? 

    If you are simply getting your license to start investing other agents frankly wont help you because they wont get a commission, why would they? If you do want to start a new career and learn those skills it will be good to have the MLS and service clients also. It will take some time for you to establish your clientele and getting a grip on the areas but that's also how you learn, by just being out there!

    Pro - Getting MLS, getting a commission on your own deals, new career change

    Con - Tough start up time, usually about 6 months to get a steady pipeline of business going, and obstacles in learning the work and building up your network

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  • Jay HinrichsBusiness Member
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    7y
    Originally posted by @Andrew Hodgson:

    Hi @Wai Chun Ng

    In WA you must complete the classes to prep for the license test, then if you pass you must apply with a brokerage firm to activate your license. You must "hang your license" at a firm. Be sure to look online at Rockwell for your license prep classes, that program has one of the best exam pass rates in WA.

    I second Jay's sentiment that you probably won't find a lot of hand holding as a new broker, at least not from other brokers. However, during the first 2 years as a new broker you are supposed to be under close supervision by your firm's designated broker, so that you learn the job and don't bring liability to the firm. After you pass the test and have your license my advice would be to interview with a lot of firms, and then choose the designated broker that you believe will invest the time with you for you to be successful. Also look for firms with a high degree of tech integration and systems in place that produce results (lead generators, marketing, CRMs, transaction management tools, etc)-- that will go a long way to getting those first few deals underway and building momentum. 

    Pros: gets you plugged into the real estate scene; allows you to network with people in the industry doing the deals that you want to do; full MLS access; training on state-wide standard forms; held to a higher standard of ethics in all your real estate dealings (yes, this is a pro!)

    Cons: opportunity cost of the time needed to get thru the test prep classes; start up costs for the license and then at your firm; no consistent pay at the beginning; cold-calling :)

    Andrew i dont think i made my point that well.

    It used to be in the old days that brokerages would sponsor class's for those studying to get their license.. let them also train a bit before they took the test..  C 21 for example.

    Now a days I dont see that.. I could be wrong.. but for sure once you get licensed and hang your shield its wise to pick a brokerage that caters to newer agents.. Keller has done well with the team concept and with beginner agents working on the team.. they get some income why they are apprenticing. 

    Most boutique agencies.. Like the ones i have owned over the years.. we just had like minded top producing agents that came to us after already established and did not want to work in the corporate culture anymore and short of starting their own gig  would come to a firm like ours.. mainly all builder developer flippers  investment property guys/gals

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  • Andrew Hodgson
    Real Estate Broker · Olympia, WA · Member since 2016 · 79 posts · 55 votes
    7y

    @Jay Hinrichs, that makes sense. A sponsorship would've been awesome for me, I wish that was still the norm. They still may be out there, I just didn't know what to look for I guess.

    0Reply
  • Wai Chun Ng
    OP
    Member since 2019 · 3 posts · 0 votes
    7y

    Appreciate all the input.

    0Reply
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