Minimal Barrier to Entry: Embarking on Becoming a Real Estate Agent
I finally took the plunge and signed up for a real estate licensing course. Here is how it went and why it can be easy for you too!
My uncle is a successful real estate agent, so when I was in the (unsuccessful) process of purchasing my first house from September — October 2021, I had used him as a reference to field questions and experiences. I mentioned to him at the end of one of our last conversations that I was thinking of taking the steps to become one and he said “it’s a great career, tough but rewarding.”
I have a couple friends who are real estate agents part-time, and are quite successful despite the reduced hours they have to dedicate to their ventures. Many months previous to now, I had signed up for a newsletter for an online pre-licensing course and prep-guide company, and since then I think I have received daily marketing emails. So, you could say the idea was even more in the forefront of my mind.
Note: I am currently living in Colorado — so all experiences, costs and time-allocations to the courses and learnings are specific to Colorado. Some states may require more-or-less time commitments to complete pre-licensing.
I plan on using this as a documentation of my experience gaining my license and the costs associated as a reference for others who are interested as well!
I Decided to Take the Plunge
I was exploring the aforementioned site (Real Estate Express) and filled out an online information form to receive a Real Estate Income guide. Maybe an hour later, and a representative from the company gave me a call to discuss my intentions. The marketing email from today had already informed me of a 30% off discount the site is having for the holidays, and when the woman called me, she offered me an additional $45 off — that was the hook! I did it. I purchased the “Ultimate” course, which includes a self-paced online course, office hours, flashcards, a printed textbook, a video crammer series, and multiple practice exams when you complete the course , in addition to other offerings. The original price for this course is $595, though I purchased it for $385 with the holiday discount.
There are 6 courses that Colorado requires you to complete and 168 hours of learning. Each Course has up to 9 Chapters, of which can each have 30+ sections for review.
In mid-December, I attended a hour-long webinar — “Getting Started and Being Successful in Real Estate” — offered by Colibri School of Real Estate, and promoted by Real Estate Express. This was a panel discussion with industry leaders and educators in the field. I found it relatively informative of some things I knew and some I did not. After this, I started working in the Real Estate Licensure course. I purchased a $3 notebook from Target to take my notes in while studying. After the seminar, I spent 2.5 hours studying and was able to get through 15 sections in the First Chapter of the First Course. I have noticed this really may take me the required 148 hours…
To note: At this point, I had not received the physical textbook in the mail yet, so for the first 5 chapters of Course 1, I was taking hand written notes- which probably slowed me down quite a bit.
Flash forward to January 17th (exactly one month later), and I finally finished Course 1 of 6! The final exam was 100 multiple choice questions and took me… phew… 1 hour and 38 minutes.
Course 1:
Hours Studying (according to my course time keeper): 52 hours
Dollars Spent to date: $388
How You Can Do It Too
After reading a bunch of articles, taking seminars, and talking to current agents and brokers from around the country (NY, DC area, CO) here are things I have learned and that have made me successful so far, which you can do, too!
1. If it really is going to be your passion… you need to work for it.
This is not the type of course and exam you can study for overnight… or even in one week… The course can be long and full of information- which can be discouraging once you get into the nitty gritty of the material, but the real learning and success comes from on-the-job training and completing transactions ONCE you get your license and find and join a managing brokerage.
2. No higher education required.
Many jobs these days require you to at least have a bachelors degree- and for most people that creates a high barrier to entry. To become a real estate agent, as long as you can fund a course and pass your exam, there is no need for higher education!
3. Find a course that fits your budget, learning style, and goals.
There are a variety of online and in-person courses that are offered in each state. It is important to find one that helps you the best and fits with your lifestyle. Some courses can be as low as $300, and some can be closer to $1,000. Determine your budget (also, remember this is an investment for your future self!) and do your research on what each of these price ranges offer.
Note: I know I learn best by reading a physical book, so I made sure I found one that offered a printed textbook. Some courses offer live-stream classes where you have to attend a certain time each week to complete the course- but they are taught by a live teacher. Others offer test-prep office hours or flashcards. What will help you learn best?
4. Just get the course done, ASAP!
Although it can take a lot of perseverance and study hours, the best thing you can do to get to become an agent is push through the course and exam and just. finish. it. To be frank: Dragging out the course material just delays the time until you become a licensed agent and begin selling properties.
5. Are you passionate about another form of real estate? Being a Realtor is not the only option — find what makes you excited about the industry.
Becoming a licensed real estate agent does not mean you only need to work selling commercial or residential real estate- there are so many other fields you can go into with your license.
To name a few:
- Property Management
- Real Estate Investment
- Corporate Real Estate Companies
- Commercial Real Estate transactions (long-term large leases, purchasing)
- Leasing Agent
- Real Estate Marketing
I am just a few weeks into my real estate career, and I am excited to share more about what I learn along the way that (I aim) has made me a successful real estate agent.
Are you an agent? What has made you successful as a real estate agent? Are you in a similar field- why are you passionate about it?
