Disclosure: This is a sponsored post.
Coronavirus has made many Americans think about their futures. For those who have lost their jobs, they may even be considering a whole new career.
Real estate is one industry that’s expected to grow by 7% between 2018 and 2028, making it one of the fastest-growing industries around. With big salaries possible, it’s only natural that people are attracted to real estate.
But is real estate really the right career for you?
How to Get Into Real Estate as a Career
The attraction of real estate is that it’s so easy to get into. What you need to do is take a pre-licensing course and then take the licensing exam. This costs no more than a few hundred dollars and your time.
Every state’s requirements differ. For example, in California, you must take classes amounting to 135 hours. New York, on the other hand, only has a requirement of 75 hours.
The best part is the exam is a multiple-choice format, so it’s not particularly difficult to pass after studying. That’s why there are more than 3 million active licenses in the US right now.
You may also decide to join a brokerage and become a realtor. This comes with additional costs but access to exclusive resources. The best decision is entirely up to you.
What to Expect During Online Real Estate Classes
Real estate classes online are becoming increasingly popular, particularly during the lockdown. Make sure you’re taking these classes from an accredited real estate school in your state.
Remember, there’s no national real estate license. Every state has its own separate requirements, so make sure you’re working with an online school specializing in your state’s requirements.
Generally, online real estate classes are just a series of videos and associated worksheets. Follow each section of the course in order.
You can also refer back to these classes later if you need a refresher.
Some of the more expensive schools may even connect you with a personal tutor you can throw questions at. It really depends on the quality of the school and how much you’re willing to pay.
Who is a Real Estate Career Best Suited For?
Real estate isn’t a career for everyone. There are more agents than ever before, and even with 5.34 million existing homes sold in the US in 2019, there are so many agents that you need to be great at selling to get ahead.
This is ultimately about your ability to market yourself, the properties you’re trying to sell, and your ability to speak to people.
Without good marketing skills and an ability to connect with people, you have no chance of success.
Yes, there’s accounting, regulations, and a knowledge of the process that has to be taken into account, but these can be learned. Without that natural attraction to promotion, it’s nearly impossible to succeed.
What are the Different Types of Real Estate Careers?
Real Estate Agent – A real estate agent is responsible for identifying properties and attempting to sell them.
Commercial Real Estate Agent – This is the same as a real estate agent, but they specialize in commercial properties.
Real Estate Wholesaler – A wholesaler is responsible for purchasing properties in poor condition and selling them to investors. They must be able to tell what the required renovation costs are and price their properties appropriately.
Virtual Wholesaler – A virtual wholesaler is someone who buys and sells properties long-distance. This is a relatively new form of real estate and you should read a virtual wholesaling guide to find out more.
Property Manager – A property manager simply manages the upkeep of a property on behalf of other investors. This may include property maintenance, finding new tenants, and ensuring rent payments are kept up to date.
The Highest Paid Real Estate Careers
There’s no real answer to this because it’s all very much a personal issue. Successful people in real estate can make six-figure sums in any area of the industry. There are no specific careers you should go into where you can expect to make big money without any effort.
Think not about what the highest paid real estate careers are and what you’re actually good at and what you enjoy.
Conclusion: Is a Career in Real Estate Right For You?
Real estate is perfect for people who want to be their own boss. It’s also perfect for anyone who’s a natural at selling. If you love working with people and you’re willing to work on your marketing, this could be the perfect career for you.
Are you considering going into real estate?