Becoming a realtor as a career?
Member since 2019 · 19 posts · 2 votes
Becoming a realtor as a career?
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Morris County, NJ · Member since 2020 · 5k+ posts · 2k+ votes
6y@Julian Montes
That’s a tough one to answer. Honestly, life/career is about having options and experience. Perhaps think of it this way— if you forgo’ed your education but then realized that real estate agent wasn’t for you, could you realistically go back for your degree? Would it be worth it for you to get your degree and maybe work in the private sector to gain one sort of experience (and possibly network) and switch over to real estate once you got that going. Unlike a salaried job, being a Realtor is really about “who you know” (or who will refer you). Otherwise, without clients who want you to help them list or buy a property, you aren’t going to be making a commission.
In short, think about what options you “open” or “close/delay” with each decision. Then you need to decide for yourself what works best.
PS. Remember, the National Assoctiation of Realtors’ statistic is something like more than 75% of new agents don’t make it their first year. So either you need to hang in there or catch on quick.
27 Replies
- Morris County, NJ · Member since 2020 · 5k+ posts · 2k+ votes6y
@Julian Montes
That’s a tough one to answer. Honestly, life/career is about having options and experience. Perhaps think of it this way— if you forgo’ed your education but then realized that real estate agent wasn’t for you, could you realistically go back for your degree? Would it be worth it for you to get your degree and maybe work in the private sector to gain one sort of experience (and possibly network) and switch over to real estate once you got that going. Unlike a salaried job, being a Realtor is really about “who you know” (or who will refer you). Otherwise, without clients who want you to help them list or buy a property, you aren’t going to be making a commission.
In short, think about what options you “open” or “close/delay” with each decision. Then you need to decide for yourself what works best.
PS. Remember, the National Assoctiation of Realtors’ statistic is something like more than 75% of new agents don’t make it their first year. So either you need to hang in there or catch on quick.
- Real Estate Broker · Canton, GA · Member since 2010 · 15k+ posts · 11k+ votes6y
Is your college going to be paid for or will you be taking on a bunch of student debt you could get stuck with?
17 years old you have plenty of time.
If college was paid for then sounds like that might be something good to have with a degree. If however it is a (parents want you to do something with your life theme) and you could rack up tons of student debt with a degree that doesn't pay that much money than that could be a recipe for disaster.
You have to decide if you want to live in the matrix with the herds or outside the matrix.
- Member since 2019 · 19 posts · 2 votes6y
Thanks Mr. Owen's and David for your responses. Phew, definently a tough decision to make; I truly feel being a realtor would be great for me because I know I can achieve more and more clients over time. Currently I have a chip selling business at school and I have never felt this awesome. More and more people refer me to buy chips and candy to others which reflects my true joy of selling. At first I wanted to quit, but I noticed what is on the other side of failure: success.
- Morris County, NJ · Member since 2020 · 5k+ posts · 2k+ votes6y
@Julian Montes
Well... if you are “born” to sales, that’s great. I suppose the point is to diversify. For example, there are plenty of stories of people who started real estate investment as a side hustle, then quit their day job. There are plenty of other sales-type jobs that might actually teach you more, or help you grow, about the trade than being a lone real estate agent/investor.
Just my two cents... but the final decision is, of course, yours
- Investor · Castle Rock, CO · Member since 2011 · 107 posts · 65 votes6y
@Julian Montes The fact that, in 11th grade, you are seeking such advice to begin with is commendable. In fact, you are already ahead of at least 90% of the pack at this point, so congrats!
As I am old enough to be your grandfather, if I had it to do over again and I was as excited about the prospects of a real estate career as you seem to be at such a young age, I would graduate HS, then immediately enroll in an real estate undergrad program. When you get to your 3rd year, as with most degree programs, you will need to enter some sort of apprenticeship program for college credit (paid or unpaid) in order to complete your degree. Up to that point, my guess is you are working the same types of jobs most college kids find in order to help pay for college and/or earn spending money.
My further guess is that any worthwhile apprenticeship program will be with a larger brokerage (think ReMax, Coldwell Banker, Keller-Williams, Bershire-Hathaway), either residential or commercial, but will get your foot in the door to further your career once you graduate. Whether you get licensed before or after graduation is up to you and the available opportunities at the time.
Once you are graduated and licensed, I would seek to become a member of a team as an admin, transaction coordinator, or even a buyer's or seller's agent in a learning environment from a team leader or managing broker who can and will take you under their wing and teach you the ropes, which will launch your career the right way.
From there, with some success on the residential side, I would proceed on the commercial side to round out your education, then decide from there where you really want to place a stake in the concrete and move ahead.
The above may well be a 5 year plan at minimum, but no one ever got anywhere in this business of any other without a plan and a roadmap.
Best of luck to you!
- 6yMichael MagnoBusiness MemberReal Estate Agent · Wadsworth, OH · Member since 2017 · 234 posts · 168 votes
Some the best Realtors around never went to college. Google Jason Abrams or Jeff Glover. Both are KW Mega agents, and neither went to college. Both are under 40 years old now, and run some of the largest real estate teams in the country.
- Investor · Columbus, GA · Member since 2014 · 2k+ posts · 1k+ votes6y
Becoming a Realtor can be done straight out of high school, without collge. It's an inexpensive way to start your own business, but in order to make money at it, it takes a lot of work and time. It's a lot more than putting a sign in the yard. This is a completely different path than getting a degree in finance to become an employee. You can become a real estate investor with either path. A real estate license will not make you a better investor. It will give you access to tools, such as contracts and the MLS, but investing is a skill that comes from self-education. If you want conventional results in your future, follow conventional advice. If you want extraordinary results, don't follow conventional wisdom.
- Rental Property Investor · OH (ohio) · Member since 2018 · 166 posts · 113 votes6y
@Julian Montes
I know a few people that got their license at 18 and have been successful. I’m finishing a bachelors at 27 and working a marketing internship with local broker, getting my license in the spring. I really wish I had gotten my license at 18, because I like sales, people, and real estate. The bachelors opens a LOT of doors, at least for me, but most are typical jobs working 9-5 and that just seems so limiting to me now. It’s a secure feeling knowing you can get a job with a degree but that could hold you back from really going after something you want. I’d rather live off nothing for 5 years to build my own career than be someone else’s employee. It sounds like you’d be fine creating your own wealth, you’re way ahead of most guys in your mindset, even those in college
- Member since 2019 · 19 posts · 2 votes6y
Hello Mr. Dooley, that is one element that I am definitely taking into consideration. I have learned so much from my real estate book (investing) than in the conventional educational system. One thing I truly desire is to have extraordinary results, I just wonder if college will serve as a catalyst for it or a obstacle. I definitely see college as a way to pursue even better success, but in my case I am still unsure. Nonetheless, I am willing to do anything it takes to get where my dreams are. Lastly, when you mention conventional, do you mean college?
- Member since 2019 · 19 posts · 2 votes6y
Originally posted by @Bryan Scott:
@Julian Montes The fact that, in 11th grade, you are seeking such advice to begin with is commendable. In fact, you are already ahead of at least 90% of the pack at this point, so congrats!
As I am old enough to be your grandfather, if I had it to do over again and I was as excited about the prospects of a real estate career as you seem to be at such a young age, I would graduate HS, then immediately enroll in an real estate undergrad program. When you get to your 3rd year, as with most degree programs, you will need to enter some sort of apprenticeship program for college credit (paid or unpaid) in order to complete your degree. Up to that point, my guess is you are working the same types of jobs most college kids find in order to help pay for college and/or earn spending money.
My further guess is that any worthwhile apprenticeship program will be with a larger brokerage (think ReMax, Coldwell Banker, Keller-Williams, Bershire-Hathaway), either residential or commercial, but will get your foot in the door to further your career once you graduate. Whether you get licensed before or after graduation is up to you and the available opportunities at the time.
Once you are graduated and licensed, I would seek to become a member of a team as an admin, transaction coordinator, or even a buyer's or seller's agent in a learning environment from a team leader or managing broker who can and will take you under their wing and teach you the ropes, which will launch your career the right way.
From there, with some success on the residential side, I would proceed on the commercial side to round out your education, then decide from there where you really want to place a stake in the concrete and move ahead.
The above may well be a 5 year plan at minimum, but no one ever got anywhere in this business of any other without a plan and a roadmap.
Best of luck to you!
Haha I love the humor Mr. Scott. Currently I am studying for the SAT in case I do pursue education in college in the future. I definitely see the importance of laying out a plan due to the importance of not going into things blindfolded. Thank you a lot for the roadmap example you gave me!
- Member since 2019 · 19 posts · 2 votes6y
Originally posted by @Spence Kal:
@Julian Montes
I know a few people that got their license at 18 and have been successful. I’m finishing a bachelors at 27 and working a marketing internship with local broker, getting my license in the spring. I really wish I had gotten my license at 18, because I like sales, people, and real estate. The bachelors opens a LOT of doors, at least for me, but most are typical jobs working 9-5 and that just seems so limiting to me now. It’s a secure feeling knowing you can get a job with a degree but that could hold you back from really going after something you want. I’d rather live off nothing for 5 years to build my own career than be someone else’s employee. It sounds like you’d be fine creating your own wealth, you’re way ahead of most guys in your mindset, even those in college
Wow Mr. Spence, your advice to me is invaluable. I must say that it made me feel even more inspired for my future ahead of me. Everything you said I can relate to extremely: sales, people, and success. When you state if you could go back building your own career for 5 years, is that including college? Lastly, Regarding the individuals you know that were successful by getting their liscense at 18, what allowed them to pursue even greater success?
- Member since 2019 · 19 posts · 2 votes6y
Originally posted by @Michael Magno:
Some the best Realtors around never went to college. Google Jason Abrams or Jeff Glover. Both are KW Mega agents, and neither went to college. Both are under 40 years old now, and run some of the largest real estate teams in the country.
Yeah looking at successful agents that didn't attend college definitely shows the possibilities that can happen. I've watched Graham Stephan as one of them.
- 6yMichael MagnoBusiness MemberReal Estate Agent · Wadsworth, OH · Member since 2017 · 234 posts · 168 votes
Your only 5 years away from wherever you want to be.
- Investor · Columbus, GA · Member since 2014 · 2k+ posts · 1k+ votes6y
Originally posted by @Julian Montes:
Hello Mr. Dooley, that is one element that I am definitely taking into consideration. I have learned so much from my real estate book (investing) than in the conventional educational system. One thing I truly desire is to have extraordinary results, I just wonder if college will serve as a catalyst for it or a obstacle. I definitely see college as a way to pursue even better success, but in my case I am still unsure. Nonetheless, I am willing to do anything it takes to get where my dreams are. Lastly, when you mention conventional, do you mean college?
Conventional wisdom is what "everybody else is doing." This will ensure that you get what everybody else is getting. If that is your goal, fine. Go to school, get good grades, and get a safe secure job. That is conventional wisdom. Look at where those people are 20-30 years later. Most people hate their job and it probably has little to do with their formal education. Look at Dave Ramsey's story. He got his real estate license at 18, worked his way through college, degree in finance, got rich in real estate investing, but went bankrupt. How did his finance degree help? It didn't. He was over-leveraged. Avoid other people's mistakes is the lesson here. Nothing says you can't take classes that will enhance your career. Education is very important. What type of education is most important.
- Real Estate Agent · Kansas City · Member since 2018 · 4k+ posts · 3k+ votes6y
@Julian Montes
Yes if real Estate is what you love. The only reason why I didn’t go the college route is because I hated school. I’m a firm believer in entrepreneurship and creating your own success. I graduated high school 6 months early and got licensed. I went to the office from 9-4 then I worked my second job 5-11. It took 8 months to go full time. It’s not easy. You need to budget, save money, hustle your butt off, and soak up knowledge like a sponge. Surround yourself with a support system. They say 87% of realtors aren’t active in real estate after 5 years. It’s been a little over 2 years since I’ve been licensed and I love it. Best of luck it’s a fun journey!
- Realtor, General Contractor, and Developer · Redding, CA · Member since 2009 · 7k+ posts · 4k+ votes6y
@Julian Montes nobody has ever been hurt by having an education. If you can afford it, I'd say get one. Going to school doesn't prevent you from getting your real estate license. You can probably set up a schedule to do both.
What would your major be? Project management is a great degree, finance, business, etc. All of those help with real estate.
Real estate agents jobs are going to be changing dramatically with Amazon, Zillow, Costco and many major players getting in, meaning much more competition and lower commissions. It's very sketchy to plan your life around, and being educated will always give you an advantage.
- Rental Property Investor · Nashville, TN · Member since 2013 · 62 posts · 13 votes6y
@Julian Montes Hey there! First off... huge points for being on Bigger Pockets and 17!
Education is important no matter what avenue you take. If you plan on becoming a real estate investor you will be investing in your education no matter if you go to a traditional college.
Not sure if anyone has suggested this but perhaps join someone’s real estate team to gain experience and traction while educating yourself. Immerse yourself into business classes, find mentors in rental real estate if that’s where your “end game” is.
I hope this helps. No matter what... don’t forget to enjoy yourself.
- Rental Property Investor · Nashville, TN · Member since 2013 · 62 posts · 13 votes6y
Listening to my podcasts this am... one I like to listen to is Wheelbarrow Profits and this podcast came out and I thought of this thread. Note: I am not affiliated with Jake and Gino... I think they are super awesome and give a ton of value but I’m not affiliate. :)
https://podcasts.apple.com/us/podcast/jake-and-gino-multifamily-real-estate-investing-more/id1025080737#episodeGuid=62d0832c-a904-4fe3-b753-702c8589cfcb
- Rental Property Investor · Nashville, TN · Member since 2013 · 62 posts · 13 votes6y
@Julian Montes also... look up a gentleman by the name of Rod Khleif. He started in RE at 18as an agent... great story.
- Investor · United States · Member since 2018 · 565 posts · 356 votes6y
Originally posted by @Julian Montes:
Is it a realistic goal for me to become a realtor right out of high school (currently in 11th grade)? I have the opportunity of going to college (being a finance major to work in RE), working a job (maybe), and being a realtor, but I feel my time would be well spent being a realtor full-time and getting valuable experience in the real estate arena. I could do all three, however, I feel I would be juggling too many things at once while having a lack of focus. I am aware I wont be successful automatically, but I am willing to put in the work and market myself. After becoming a realtor I plan to invest in rental properties.
Well becoming a realtor isn't free. You're going to have to spend $2-3k minimum on all kinds of fees. However if you decide to do it you will learn a lot.
I think you should continue with the finance major and get a RE type job. To increase your education and future job prospects you could intern with a real estate agent or other RE professional while you go to school.
But whatever you end up doing understand that the sooner you learn how to actually start earning money the better. You should be earning money and educating yourself simultaneously throughout this entire process.
If you can have a 2-4 years of "on the job training" under a RE professional and $20k-$30k saved up >>(with NO debt)<< by the time you finish your finance degree then you will be in a pretty good place.
Good luck!
- Investor · Youngstown, OH · Member since 2017 · 2k+ posts · 2k+ votes6y
I LOVE this post! Hats off to you.
If you can get a degree, even if it's just an associate's, with 0 to minimal debt, I'd get it for the security. Something general like business or entrepreneurship or finance. Live at home, go to a community college, whatever you can do to mitigate costs. And absolutely get your license so you can work in the field while you go to school.
I'm not a huge proponent of college. I think it's a broken system that does more harm than good. But it's nice to have that piece of paper in your back pocket if you need it.
Start networking with other agent and investors now at local meetups. Build contacts and a foundation. I think you're going to do great!
- Member since 2019 · 19 posts · 2 votes6y
Originally posted by @Pili Yarusi:
@Julian Montes also... look up a gentleman by the name of Rod Khleif. He started in RE at 18as an agent... great story.
Thank you so much for your advice Ms. Yarusi! I have read all of it and will take all of it into consideration.
- Member since 2019 · 19 posts · 2 votes6y
Originally posted by @Nicole Heasley Beitenman:
I LOVE this post! Hats off to you.
If you can get a degree, even if it's just an associate's, with 0 to minimal debt, I'd get it for the security. Something general like business or entrepreneurship or finance. Live at home, go to a community college, whatever you can do to mitigate costs. And absolutely get your license so you can work in the field while you go to school.
I'm not a huge proponent of college. I think it's a broken system that does more harm than good. But it's nice to have that piece of paper in your back pocket if you need it.
Start networking with other agent and investors now at local meetups. Build contacts and a foundation. I think you're going to do great!
Thank you for your advice Nicole!
- Member since 2019 · 19 posts · 2 votes6y
Originally posted by @David M.:
@Julian Montes
That’s a tough one to answer. Honestly, life/career is about having options and experience. Perhaps think of it this way— if you forgo’ed your education but then realized that real estate agent wasn’t for you, could you realistically go back for your degree? Would it be worth it for you to get your degree and maybe work in the private sector to gain one sort of experience (and possibly network) and switch over to real estate once you got that going. Unlike a salaried job, being a Realtor is really about “who you know” (or who will refer you). Otherwise, without clients who want you to help them list or buy a property, you aren’t going to be making a commission.
In short, think about what options you “open” or “close/delay” with each decision. Then you need to decide for yourself what works best.
PS. Remember, the National Assoctiation of Realtors’ statistic is something like more than 75% of new agents don’t make it their first year. So either you need to hang in there or catch on quick.
Thank you for your advice David!
- Member since 2019 · 19 posts · 2 votes6y
Thank you everybody! I will definently take all of the info you guys gave me and implement it into my life. I'm so lucky.
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