How to get started in real estate

Have you ever been interested in a career in real estate?

After moving back to the United States from overseas, searching for a home with three small kids in a two door vehicle, I was a mess. During the whole process I decided it was my mission to help other families find their next home with ease.

First, I had to find a state approved course to learn real estate. In Virginia, you are required to complete 60-hours of real estate education. Now that so much is offered online, I was able to find AceableAgent and do all the work completely from home. It required passing endless quizzes which meant my life was studying, studying, studying.

While I was completing the course, I reached out to other real estate agents I knew to get their input on how to be successful. The major advice I was given was STUDY hard for the state and national exam. The exams have become more challenging over the years and to expect to take them multiple times. For me, this is just the advice I needed to take it super seriously. I studied every single night and once I passed my AceableAgent exam, I took some other practice exams for variety.

Next, you schedule your state and national TESTs that are proctored in-person. The Virginia real estate salesperson licensing exam is 120 questions, covering both state and national requirements. You have 150 minutes to complete AND you get your results right after you complete it.

Let’s say you don’t pass. You can take it again at a later time. But, when you do pass, you need to then get your fingerprints taken and you have 45 days to complete your application.

Then, you have to find a BROKER to sponsor you. This is the tricky part. EVERYONE is going to say they are the best place for you. In fact, YOU are interviewing the brokers, not the other way around. This is where you find what YOU want. A few questions to consider asking each brokerage you interview:

• Can I speak with one of your top agents?

• What is your internal training program?

• Do I get a dedicated assigned mentor?

• What percentage do they get? For how many transactions?

• What are the sales ethics of the company?

• What fees can I expect to pay and is there a cap?

• What is the split?

• Is there a non-compete if I leave?

• Will I be given leads?

• Is there pressure to complete certain number of transactions?

• What is your lead generation strategy.

• Is there mandatory time commitment (if joining a team)

• What happens to leads if I leave?

• Do you provide any marketing?

As you can see, there is a LOT to consider.

Do NOT rush this part. Talk to different brokerages, large, small, teams, and individuals. (But, if you got your fingerprints done, don’t forget your whole packet has to be in within 45 days).

Ok, So you found a brokerage. You are feeling pumped, NOW WHAT?

Now you submit the actual application to DPOR with the fee and you……WAIT. Once your fee has been processed, it can take 30 BUSINESS days OR MORE to get your license. What can you do while you are waiting? I think I’ll share that in another post.

Once you get your license #, you are ready to ROCK!!!!

Have you started the process of becoming an agent? Let me know if you have any questions about the process!