Cory Meals
Cory Meals
(903) 821-9326(903) 821-9326

Should I Get My Real Estate License?

Should I Get My Real Estate License?

I have had a ton of people reach out to me lately asking “What does it take to get your real estate license?” This is a very open ended question. I’ll cover what it takes to get licensed, what you should expect once you get your license, and a general overview on how you generate business once you get your license.

To get licensed you have to complete 180 hours of classroom/online training. Here is a link to the TREC Requirements to become a licensed Realtor. You can complete the courses online or through a real estate school like Champions School of Real Estate. Depending on which route you go you’ll be looking to spend anywhere from a $500 to $2500 for the courses. After you complete your courses you must the pass the real estate licensing exam for the state of Texas and the national exam. Once you pass and receive your license, you will join a brokerage and join an MLS board and Realtor association. The total up front investment for getting your license can be upwards of $5,000-$7,000 to get started.

After you get your license and join a brokerage. The next question I get from people is, “How long does it take to get your first closing?” a.k.a. When do I get paid? I tell all new agents not to expect to close on your first deal until 6 months into your real estate career. This means you need to have saved up 6 months of living expenses and budge 6 months of marketing expenses to generate business prior to your first closing. Some individuals close their first deal within 30 days of getting their license and some it takes much longer than 6 months.

“How do I get clients?” A lot of new agents are under the impression that you get your license, you show up to your brokers office and then clients walk in from off the streets, visit your website, or call in to ask you to help them buy or sell. This is the furthest thing from how a Realtor meets their clients. You have to invest your time and money into meeting with potential clients, posting ads, and tapping into your sphere of influence. Many agents have a hard time learning how to generate leads, and that is why 87% of Realtors fail within their first 5 years in the business.

My advice to those getting into real estate because it seems like an easy side job or profession is to not waste your time or money. Helping people navigate one of their biggest financial transactions isn’t something I would consider a hobby or side job. You need to be fully focused on it as a career and know the ever-changing contracts & negotiations, market shifts, liabilities to you and your clients, etc… I have met only a small handful of Realtors that are capable of being part-time, and they are masters at their craft. It’s not a hobby!

If you are serious about getting into real estate and becoming a licensed professional, I’d be happy to answer any questions you may have or meet up to discuss it! Feel free to email me cory@corymeals.com or text me or give me a call at (903) 821-9326. By the way, I am never to busy for your referrals!

Leave a Reply

Your email address will not be published. Required fields are marked *

« Previous Post: