Becoming a real estate agent is a great potential career path, offering a potentially lucrative future for those who pursue it.
According to the U.S. Bureau of Labor Statistics, real estate sales agents and brokers are expected to see a 5% growth in jobs by 2031, making now a great time to pursue a career in the real estate industry. The first step on this potential career journey is enrolling in real estate school and taking classes to earn your real estate license.
While the idea of going “back to school,” so to speak, can seem less than exciting, the courses often only last a few weeks and are your entry point into the industry. Of course, it’s impossible to offer a “one-size-fits-all” approach in helping people learn about real estate school, as regulations surrounding the industry and what it entails can vary greatly from state to state.
While real estate schools can vary between them, attending real estate school or classes is mandatory to earn a real estate license in all 50 states. Today we’re going to highlight why going to real estate school is important and what to generally expect when attending.
Why Real Estate School Is Important
To become a qualified real estate agent in your chosen area, you need to get a state-approved real estate license.
To earn this, you first need to enroll in real estate school and attend pre-licensing courses. These courses are carefully designed to provide prospective real estate agents with the necessary knowledge about the industry, as well as the rules and regulations that govern them for your specific state.
Essentially these courses help these students improve their understanding of the field, set themselves up for greater career success, and pass the state and federal portions of the real estate agent examination.
As mentioned before, rules can vary greatly between states, and each will have their own requirements for licensing. This includes the required topics for the curriculum and total number of credit hours required to pass.
What Real Estate School Entails
While curriculums vary between states, and each has its own set of unique educational requirements, several topics remain consistent between them.
These topics include; current real estate practices, home ownership, real estate brokerage and law of agency, fair housing laws, real property, ethics of practicing, listing agreements, legal descriptions, and contracts.
Other areas of study that can vary between states include real estate principles, state-specific regulations, taxation, closings, record-keeping, and more. These topics help lay a solid educational foundation for prospective agents, preparing them for their future careers in the real estate industry.
As mentioned, the amount of credit hours that are required to take the real estate exam can vary greatly between states, with some states requiring as little as 8 weeks of instruction, to up to 5 months in some cases.
Preparing For Real Estate School
On top of the length of time you can expect to be attending courses, the cost of attendance can vary greatly between schools and depending on the state you’re attending in. In some instances opting for online courses over in-class instruction may be a cheaper solution, while in other cases it may be the other way around.
Depending on the state you’re in and your preferred method of attendance, expect to pay as little as $400 to upwards of over $1100. The bulk of the money you’ll be spending will be on pre-licensing courses. On top of this, there are also costs for exam prep, the exam itself, your real estate license application, along with costs for a background & fingerprint check.
In your career as a real estate agent, you’ll also encounter an array of future costs to consider. These future costs may include any post-licensing courses you may take, continuing education courses, various broker fees, possible membership fees for professional trade organizations, and core marketing and business expenses.
How Real Estate School Prepares You For The Future
Attending real estate school sets you up for success as a real estate agent, not just in terms of your future career, but in also providing the foundation that will help you pass the real estate exam. At the end of it all, it’s actually a phenomenal investment in your future, providing you with all of the necessary knowledge, skills, and networking opportunities needed to succeed in the industry.
While the journey of becoming an agent can seem intimidating before enrolling in real estate school, it’s well worth the time, money, and effort that you put into it. Remember that the real estate market is constantly expanding, and with the right education behind you, you’re set to succeed in the industry.