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#NT Anyone here get their real estate license?

post #1 of 22
Thread Starter 
So I've always been interested in real estate. All aspects: development, being a broker/agent, REITs, etc. I was thinking that I might try and get my real estate license over the winter break from school. While I know a license isn't required for jobs in development or REITs, I feel like it would show initiative and show that I have an interest in the field.

Anyone on #NT got their license? How hard was the test? What have you done with your license?
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post #2 of 22
My company works for HUD (Housing and Urban Development) and while im not a real estate agent by any means, those are the people we work with daily. I don't know much regarding the test, but some agents tell me its tough, and some say its a breeze.
post #3 of 22
Does this go for timeshares also? One of the guys I know asked if if I was interested in selling time shares.
post #4 of 22
Yes, you need a real estate license to sell timeshares. And yes, the test is hard.

Being a real estate agent is all about networking and maintaining a solid reputation.
post #5 of 22

Yeah, I got it. It was a waste of time. 

post #6 of 22

A close friend of mine is a real estate agent and went for the broker licence a few years after. Made tons of money in the early to mid 2000 when the market popped here in California. I was thinking about it now, but the market is so bad that you might have to work harder than agents used to w/o pay. Assuming that the market won't be like this forever, geting some experience now and bulding a pipeline should pay off later on.

post #7 of 22
Quote:
Originally Posted by h1n1proof View Post

A close friend of mine is a real estate agent and went for the broker licence a few years after. Made tons of money in the early to mid 2000 when the market popped here in California. I was thinking about it now, but the market is so bad that you might have to work harder than agents used to w/o pay. Assuming that the market won't be like this forever, geting some experience now and bulding a pipeline should pay off later on.

 

Depending where you are in California, the market is about as hot right now as it was in 2006. The only problem is that there are 4 buyers for every seller now.

post #8 of 22
I've had mine for a long time. In NY you have to take and pass the initial course and then the state tests. Laws vary by state so the process does as well.

There were definitely people who failed both and there are a lot of people who get into it thinking it will be easy or being involved part-time they can still make a lot. Unless you have an enormous built-in network of contacts, it can be very difficult. Clients don't just come from nowhere.

The market in my metro is very solid overall, it slows down here in the winters no matter what due to the weather but activity has remained very strong.

I don't rely on articles or national statistics but in certain areas, investors can and have been really taken advantage of prices + rates:

http://homes.yahoo.com/news/the-best-cities-in-america-for-flipping-a-house.html
post #9 of 22
I had my license years ago. The course and test were pretty easy IMO. Unfortunately, I put it in holding while I went back to college and never did anything with it. I feel like a schmuck for not doing my continuing education courses.

I will get another one, likely in the spring.
post #10 of 22
Thread Starter 
I more so want to get it to show initiative for potential employers and have it as a backup.
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post #11 of 22
Quote:
Originally Posted by Destination Kicks View Post

I more so want to get it to show initiative for potential employers and have it as a backup.

It may work differently in other states but in order to actually have your license in NY, it has to be held by a brokerage. So you can go and take the course and test but it doesn't mean anything if you're not affiliated with a brokerage, you cannot do anything with it. You also need to complete continuing education every 2 years with mandatory ethics courses.

If anyone is legitimately interested, you should inquire with your state's department of licensing regarding the requirements. The course will provide you with more info from there.
post #12 of 22
Quote:
Originally Posted by Destination Kicks View Post

I more so want to get it to show initiative for potential employers and have it as a backup.

goes to interview

"Oh you have Real Estate License?

I failed that thing 3 times.

You must be one of them smart guys.


So back to the interview....job experience?"



......from experience
post #13 of 22
Quote:
Originally Posted by crcballer55 View Post

Quote:
Originally Posted by h1n1proof View Post

A close friend of mine is a real estate agent and went for the broker licence a few years after. Made tons of money in the early to mid 2000 when the market popped here in California. I was thinking about it now, but the market is so bad that you might have to work harder than agents used to w/o pay. Assuming that the market won't be like this forever, geting some experience now and bulding a pipeline should pay off later on.

Depending where you are in California, the market is about as hot right now as it was in 2006. The only problem is that there are 4 buyers for every seller now.

Which parts of CA?
post #14 of 22
Quote:
Originally Posted by offwhitewhite View Post

Yeah, I got it. It was a waste of time. 

Pretty much. I got mine a few years back my soph year in college here in CA. Haven't done much with it at all.
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post #15 of 22
Quote:
Originally Posted by freakydestroyer View Post

Quote:
Originally Posted by crcballer55 View Post

Quote:
Originally Posted by h1n1proof View Post

A close friend of mine is a real estate agent and went for the broker licence a few years after. Made tons of money in the early to mid 2000 when the market popped here in California. I was thinking about it now, but the market is so bad that you might have to work harder than agents used to w/o pay. Assuming that the market won't be like this forever, geting some experience now and bulding a pipeline should pay off later on.

Depending where you are in California, the market is about as hot right now as it was in 2006. The only problem is that there are 4 buyers for every seller now.

Which parts of CA?


Southern California except for the IE & parts of the High Desert, Bay Area, Sacramento Area, & most of the Central Valley.

post #16 of 22
Quote:
Originally Posted by crcballer55 View Post

Quote:
Originally Posted by freakydestroyer View Post

Quote:
Originally Posted by crcballer55 View Post

Quote:
Originally Posted by h1n1proof View Post

A close friend of mine is a real estate agent and went for the broker licence a few years after. Made tons of money in the early to mid 2000 when the market popped here in California. I was thinking about it now, but the market is so bad that you might have to work harder than agents used to w/o pay. Assuming that the market won't be like this forever, geting some experience now and bulding a pipeline should pay off later on.


Depending where you are in California, the market is about as hot right now as it was in 2006. The only problem is that there are 4 buyers for every seller now.


Which parts of CA?


Southern California except for the IE & parts of the High Desert, Bay Area, Sacramento Area, & most of the Central Valley.

Why is that? Why is the Golden State so attractive all of a sudden?
post #17 of 22
Thread Starter 
Quote:
Originally Posted by Wr View Post

goes to interview
"Oh you have Real Estate License?
I failed that thing 3 times.
You must be one of them smart guys.
So back to the interview....job experience?"
......from experience

I got plenty of experience.
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post #18 of 22
Quote:
Originally Posted by freakydestroyer View Post

Quote:
Originally Posted by crcballer55 View Post

Quote:
Originally Posted by freakydestroyer View Post

Quote:
Originally Posted by crcballer55 View Post

Quote:
Originally Posted by h1n1proof View Post

A close friend of mine is a real estate agent and went for the broker licence a few years after. Made tons of money in the early to mid 2000 when the market popped here in California. I was thinking about it now, but the market is so bad that you might have to work harder than agents used to w/o pay. Assuming that the market won't be like this forever, geting some experience now and bulding a pipeline should pay off later on.


Depending where you are in California, the market is about as hot right now as it was in 2006. The only problem is that there are 4 buyers for every seller now.


Which parts of CA?


Southern California except for the IE & parts of the High Desert, Bay Area, Sacramento Area, & most of the Central Valley.

Why is that? Why is the Golden State so attractive all of a sudden?


It's always been attractive. But for some reason, it came out of nowhere this year. The buying season started late (around May) and is still going strong into the holidays. My guess is that the increasing prices of rent, combined with the low interest rates and improving economy. We got one home in South OC with 20 bids within the first 18 hours with 5 cash! Since then, we've probably gotten at least 40 more. And this isn't a run down condo we're talking about either.

 

I was surprised to see that it's actually more affordable to own  a home now than it was in the 1980's. Even though prices are 4x as much, the current interest rates actually make it cheaper now.

post #19 of 22
^But for that to keep up, people still needs jobs, and to the best of my knowledge that isn't improving. So this trend might not last that long right?
post #20 of 22
Quote:
Originally Posted by freakydestroyer View Post

^But for that to keep up, people still needs jobs, and to the best of my knowledge that isn't improving. So this trend might not last that long right?

 

Might not. And keep in mind, houses in the Bay Area or LA area isn't cheap. Real estate in Sacramento and Central Valley might be popping but what is there to do there? I know some people that bought houses out in the boonies (Patterson, Lodi, Mountain House, Tracy) for a reasonable price, but is it worth the commute?

post #21 of 22
Quote:
Originally Posted by freakydestroyer View Post

^But for that to keep up, people still needs jobs, and to the best of my knowledge that isn't improving. So this trend might not last that long right?

 

Well... the supply is still extremely low too. I think once people start to get equity in their homes again then the market will start to normalize.

 

In this area, if you want a house under $400K, you better have cash or an extremely large down payment or else you're not going to be competitive.

post #22 of 22
Just passed my oregon state exam and am looking to network with other agents nationwide!

bumping this to the top!
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