Getting license online?

32 Replies

Hey guys I am looking for some advice here. I am looking to get more involved in REI and want to be able to work in the field in between work. I have been thinking about it for some time and think I am going to just do it. I am young and a quick learner so I should get started. From looking online seems like a lot of people use realestateexpress.com any reviews one way or the other? Aside from purchasing their course I am curious what the actual costs of getting the license are. Will I have to join a brokerage? What annual fees am I looking at here? I work full time m-f and my wife works f-m. I have weekends to myself and I think that I could knock it out in around 3-4 weeks.

Ryan Dossey, Real Estate Agent in IN (#RB15001099)

Hey there Ryan!

Although I'm not from Missouri (the laws may differ), if you get your license, I do believe you need to find a brokerage to hang it in. And as for annual fees, it all depends on the company. There are dozens of different firms you could look at and they all have a different way of doing it. Although I am curious, why do you want to get your license? Are you looking to be an agent or are you just using the license for MLS access?

Hope I could help!

Regards,

Matt Lefebvre

Matt Lefebvre, Real Estate Agent in NH (#070207)
603-554-2309

Hello @Matt Lefebvre thanks for the reply. We get a lot of leads from our DM campaign of people who want to sell under retail but not cheap enough for me to do anything with them. There is a lot of missed opportunity. Also for the MLS access. So I can check and run comps without relying on someone else. I could also sell my own flips saving money there as well.

Ryan Dossey, Real Estate Agent in IN (#RB15001099)

@Ryan Dossey  Saving 3-6% per deal is always quite helpful.  Now that I think about it, you could even turn that into a marketing point if you get licensed.  Offering better deals to people because they won't have to pay as much in broker's fees.  

Matt Lefebvre, Real Estate Agent in NH (#070207)
603-554-2309

Ryan Dossey ,

I have been researching this as well. After talking to a buddy who was an agent, it seems like an online program is viewed as less desirable than an in residence type school. He told me that you are a lot less competitive with an online certification.
Maybe others can chime in and tell us if that's true or not?

As for the cost, it looked like it would be $850 total in Missouri for the education and licensing. Depends on the school. That does not include any brokerage fees though.

Best of luck,

Jake

I bet 80% of the top investors we work with across the U.S. are either licensed RE agents or brokers, or their spouse is licensed.  It just makes sense.  In an average market, only about 1 in 20 deals is a "cash offer" opportunity.  But 4 to 6 leads in 20 will be listing opportunities.  And, if you rehab & flip, you win on the selling side as well. 

You don't have to be licensed to be an investor, but you are more likely to be successful (i.e., $$$!) if you are.

Hi Ryan-

I recently decided to get licensed and am taking an "online" course. I put that in quotes, because it's really more of an old style correspondence course, with online testing and materials. The course I chose is run by a local guy here in Colorado and goes into a lot of detail about the points where Colorado law differs from the uniform law. I don't know how much divergence there is in Missouri, but it's something to consider.

You also need to consider your own learning style. Some of the more recent online RE schools seem to do more video lectures, which might be great for some, but not so much for me. I learn best from printed materials; I've always been a reader, and have strong visual memory for words. In fact, I paid a little extra to have the materials sent to me in actual paper form (not pdfs) because there's been some interesting studies done comparing retention of material from print vs screen (print wins hands down)

What @Jacob Lair  is saying might be true for a newly minted agent without real world experience, but I'd guess if you're at all active here on BP you probably already know a heck of a lot more about RE than most beginner agents. That should make up for any "credibility gap", should one exist.

@Dev Horn that is exactly where I am coming from. Plus a lot of realtors that are also investors get to cherry pick things before they hit mls. That is beneficial as well. 

Ryan Dossey, Real Estate Agent in IN (#RB15001099)

A lot of "agents-to-be" use online training to get the education to prepare for the exam.  Once you've passed the test and hung your license with a broker, no one will care or ask about where you took your RE classes.

Kaplan has a good program in most states with classroom or online + home study options:

http://www.kapre.com/real-estate-courses/

(I have no affiliation with Kaplan)

@Dev Horn   thank you very much I will look into that. I just have weekends free while my wife works and I figure I should be able to do it within a month.

Ryan Dossey, Real Estate Agent in IN (#RB15001099)

Ryan D. 

I'm using REexpress.com right now. I finished my courses and have my test in less than two weeks. I have been involved in REI for a couple years and own 5 properties so the material isn't that difficult, just a lot of memorizing definitions. REexpress was the cheapest I could find and I have zero complaints. Good luck!

I feel getting your license gives you a great advantage over investors who do not have one Ryan Dossey . I recently finished the course and am in the process of getting licensed myself. As I was in class, there were more than a few people who started online then switched over to the classroom. I know it depends on the individual, but the material that is covered is interesting at times, but can be very dry material and can be hard to grasp the understanding of it if not getting it from different people with different points of view. I think it was very helpful being in class versus online and I think it has really helped me to retain the information better and in turn, should make me a better agent....IMO

Originally posted by @Grant Fosheim:

Ryan D. 

I'm using REexpress.com right now. I finished my courses and have my test in less than two weeks. I have been involved in REI for a couple years and own 5 properties so the material isn't that difficult, just a lot of memorizing definitions. REexpress was the cheapest I could find and I have zero complaints. Good luck!

 That web address doesn't work.  Do you mean:
http://www.realestateexpress.com/

@Dev Horn Following their website it literally just tell you to type something else into Google that pulls up other schools. Interesting. I wonder if there are places that do like weekend only classes. 

Ryan Dossey, Real Estate Agent in IN (#RB15001099)

@Dev Horn  

yes, realestateexpress.com. Sorry, I was abbreviating...

@Grant Fosheim   which package did you choose?

So from what I understand the steps to actually becoming a Realtor are as follows. 

1)48 Hour Salesperson Pre-examination course.

2)Pass the State Exam.

3)Take the 24 hour Missouri Real Estate Practice Course

4)Background check

5)Select a brokerage and apply for license. 

I am assuming you aren't officially licensed until step 5 is completed? And it all must be done in 6 months. Do brokers actually give licenses to people who are more interested in investing/working on their own?

Ryan Dossey, Real Estate Agent in IN (#RB15001099)

Ryan D. I am up in Washington so the requirements are different. I actually signed up for classes back in January and am just now getting to the exam.

The actual license is issued by the state and then you "hang" the license with a managing broker (real estate firm). A broker/salesperson (terms vary depending on state) can't operate by him/herself, they must be under a managing broker (requires 3 years experience to be managing broker in WA). Hope this helps.

@Grant Fosheim   if you don't mind you asking what took you so many months to get to the exam? Are the classes very dense? Or is it more just slow going?

Ryan Dossey, Real Estate Agent in IN (#RB15001099)

Ryan D. the timing had nothing to due with the courses rather my schedule. I work full time and partake in REI. Since signing up I purchased and renovated a fourplex as well as got married so those took up some of my time

@Grant Fosheim   Congrats! I just got married back in January. I understand how that large of a renovation could slow things down. Just wanted to make sure I wasn't biting off more then I can chew.

Ryan Dossey, Real Estate Agent in IN (#RB15001099)

Ryan Dossey Hey Ryan, I think it's a great idea to go for your license. As I see it, a RE license can only afford you more opportunity as a real estate investor, it certainly can't hurt. I recently decided to do the same and am currently taking courses online thru realestateexpress.com as well.

They set it up to be the equivalent of 135 hours, which the BRE determines is the standard to sit for the licensing exam. Therefore, the subject matter is designed to take about that long. It is broken up into three 45-hour courses. Each course has many topics, and each topic has it's section of reading that ends with a 10 question multiple choice quiz that you must pass in order to move on. There are a few larger tests, 50/100 questions, I don't remember specifically off the top of my head because I haven't made it to one yet, but you can pretty much go at your own pace as long as you finish in 6 months. They do make you wait 2 weeks to take the test at the end of the next course so the quickest you could finish is in 6 weeks I guess.

I chose the $99 option, but there is a $199 and $299 option I believe that offer more resources and assistance. It's basically a ton of real estate reading, which is great because we all find that interesting anyway, and in the end it affords you the opportunity to go for your license! Not a bad use of $100.

I hope you decide to go for it. I think the world needs more investor-minded real estate agents (or at least licensees). Either way, best of *luck to you in all your real estate endeavors!

Jeff

*opportunity meets preparedness

@Ryan Dossey 

I would recommend getting you license at your local real estate school because this allows you to network and that's the name of the game. It's not what you know its who you know. Defiantly take the physical class its 100% worth it. 

@Paul Clark I guess I need to find out if any schools offer night/weekend classes instead of a week straight. I have taken a good amount of time off from my 9-5 already this year. I don't think I can take anymore vacation time off. So I am left with either waiting, doing it online, or finding a school with flexible hours. You would think there has to be one that is geared toward working professionals. 

Ryan Dossey, Real Estate Agent in IN (#RB15001099)

you would think... ya... but if you went to a public college you would know None Of Those People Really Care At All about what's convenient for students or what is practical. All They want is our money - Ya know... But Hey Man Good Luck Hunting - you'll figure it out.

Hey Ryan - I am in St Louis and I got my license thru realestateexpress.com.  It's a great site.  I know a guy who knows the guy who owns that site.  They are the real deal.  I recommend them. 

I didn't read all the responses....  I hang my license with Keller Williams in the Chesterfield office.  I like them a lot.  They are investor friendly.  And they have agent training second to none.  You will find a lot of really good agents there to refer your deals to.

Joe

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