The following are excerpts from the chapters on advice to real estate agents from my soon-to-be-written self-help book.
Chapter 1 – Why Not Get a Real Estate License?
It only takes some college level courses, most of which you can take on line, or through one of our great local community colleges like Saddleback or Irvine Valley College.
Pass all of the classes, then take the state licensing exam, and you have a license to help people buy and sell residential real estate.
Fair warning, the historical passing rate for the California state licensing exam is 50 percent, so study hard. You want to be in the passing group the first time around. Pass and you’re in business! Now, what kind of business will you be up to?
Chapter 2 – Types of Real Estate Practices
You can choose to be the personal agent for all of your own sales and purchases. This might happen once every 10 years or so.
You’ll need to keep your license up to date by taking more courses every two to four years. And stay up to date on changes in the required contacts and disclosures, which currently amount to over 50 pages.
You’ll have to hang your license with a broker each time you are representing yourself, since commissions in California are paid from broker to broker. And there are some brokers who frown on real estate sales people listing their own primary residences. If you know what your objectives are – either saving money or making a little money – you can figure out how to select a broker and structure the representation properly.
You can branch out to help your friends and extended family members with their sales and purchases. This might happen a few times a year. Again, if you know what your objectives are, you can figure out how to select a broker and how to best represent your clients. Many brokers offer extensive training programs for new agents that might be useful to you.
You can choose start your own business as a publicly available agent, helping people…