Real Estate License

Is it worth it?

July 27, 2020

As my workload this summer has slowed down quite a bit, I've finally had enough time to finish the real estate course that I started in April during the quarantine. 

For a course that is labeled "75 hours", I wondered at the end how they measured that. Since my course is an online course, they kept track of the amount of time I was logged in and by the time I reached 100%, my timer said 7,152 hours and 22 minutes. That's a pretty big difference between the two. Unless I'm an incredibly slow learner (I'm not) I think they may need to find a middle ground somewhere.

But now that I have finished the course, I've been asking myself was it worth it?

For those that remember at the start of the course, I was only really taking it for the education. I wanted to learn about real estate considering the fact that I have family in the industry and I wanted to dabble in the world of investing. The idea of being an agent or a broker never really interested me and still doesn't.

But, after putting in my time, I don't really think I learned that much. I'm not sure if that's because I already knew a lot about the industry or just the fact that the course had me memorizing useless facts about legal jargon that I don't think would even really apply to the job. 

I would say out of the entire course, only 10% of it was useful.

The crazy thing is that if I do want to pursue a job as an agent, I honestly don't feel confident just walking into that position right now. I was expecting the course to train me in this regard, but it really didn't. If I want to become an agent, I feel like I would be entering that position as if I had zero prior knowledge and would expect to be trained by someone with experience.

Because of this, I sort of question why the course even exists? Wouldn't it make more sense for someone looking to be an agent to just go out and start working for a firm where they can be properly trained?

Under that conclusion, it almost feels like the course isn't designed for learning but instead acts as a barrier of entry for people like me who aren't that serious about pursuing it for a career.

Either way I try and make a habit of finishing everything that I start and I saw the course through. At the end of it, do I think it was worth it? Yes I do and here's why.

Halfway through the course I questioned myself and my interests. What was the point was a question that I regularly asked as I yawned my way through the course. In fact after I got to 90%, I took almost an entire month off.

But during my time off, I re-gathered my thoughts. I realized as I constantly look for new streams of revenue in my life, on top of just investing, commission on referrals could be something to explore. 

The truth is I know a lot of people in Savannah and through my 3 companies, I could potentially open myself up to an ever-increasing network of home buyers and sellers that I could pass on to colleagues and collect money off just being a source of referrals. 

But in order to collect compensation on referrals in this industry the only legal way is to be licensed. A non-licensed person can't receive compensation for a referral. 

Additionally, by having my license I'll be able to look at properties without having to be accompanied by an agent. This comes in handy as an investor who plans to analyze multiple properties a week just to keep tabs on the market.

Like most things in education, the license just feels like a piece of paper that provides the key through doors that are locked to anyone without it. 

So, should you get your license? If you're doing it just to learn about real estate, I recommend against it. In fact I've learned more about real estate on Youtube through people like Meet Kevin and through books like "The Book on Rental Property Investing" by Brandon Turner and "Buy, Rehab, Rent, Refinance, Repeat" by David Greene. 

If you're looking to pursue a full time job in real estate, get your license, otherwise there are better uses of your time in my opinion. 

Waldo
(wal•do) — Person
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