After obtain NJ real estate license now what?

Question

Hello landlords, for those getting to know me, my name is Carlos and I'm seeking a future within real estate. I've recently enrolled in BP and the real estate business is a new industry for me. My current occupation is a Photovoltaic Electrician and I just recently finished my New Jersey 75 hours of the real estate course. I took my class exam and passed, and taking my NJ state exam this week and hoping to pass as that as well. I do have a few questions though regards to my obtaining my license.

1. Do I start sending my resume/ applying to real estate agents now or after examination?

2. Do I make a new resume of stating qualifications and other information on this industry or current industry? I feel like I need to make a new one, but theres not much I would be able to put on there.. Do I do a letter style resume? Any addition information on this please advice..

3. After I pass my state exam and obtain my license now what? What did you do, what should I do? I hear things like website, ads, etc... Anything you'd recommend? Links, stories and any information would be ideal. Thank you!

Carson Hess · Answer

@Carlos Rodrigues While I am myself very new to this game, I have read a few books that have opened my eyes tremendously.  I learned a lot from @Brandon Turner 's books: The Book on Investing in Real Estate with No and Low Money Down and The Book on Rental Property Investing.  You can also take a look at this link: https://www.biggerpockets.com/renewsblog/2015/11/1... Does anyone else have any other suggestions?

Furthermore, at the end of every BP podcast, each guest is asked about their favorite real estate related book.  You can get some great suggestions there.  Anyone have any additional suggestions?

Carson Hess · Answer

Hi Carlos,

Welcome to BP!  I was recently in a similar boat, I know choosing a firm to work at can be stressful.  I finally got my real estate license on Tuesday.

Are you more interested in investing or working as an agent?  A few good friends and mentors of mine, as well as several REI books recommended that I choose a broker that is also an avid real estate investor.  Hope this helps you out, and good luck on the state exam!

Kevin Hill · Answer

Welcome! Good luck on the test. The class test is usually harder than the state test.

Kevin Hill · Answer

Keller Williams offers a 70/30 split. Other brokerages are 50/50. Other brokerages may offer a higher split, but you have to pay high desk fees. There are 100% commission agencies where you pay a flat fee per transaction. There are various business models.

Carlos Rodrigues · Answer

Thank you @Kevin Hill I'll definitely have a resume/ letter style resume because I would like for them to know who I am. And okay I'll keep those things in mind when it comes to a future interview with a broker. And honestly I'm not sure what would be a good split offer for a newbie, any recommendations? I most likely go to 3 or 4 interviews if I'm lucky so I can compare and see whats available. Again thank you.

If anyone else has any tips please feel free to share and help me out, thank you all in advance.

Kevin Hill · Answer

Hi Carlos, after you pass your state test, start setting up interviews with brokerages in the area where you want to work. Find out what kind of split they offer, what training is available, what technology tools they provide (web site, CRM, etc), and how much are their fees (E&O insurance, desk fees, etc).

You can put together a resume, but many brokerages won't require one. Sadly, many brokerages will hire any warm body, so it's not that hard to find an office to hang your license.