A real estate job is an excellent choice for any college student. If you have a real estate license, you’ll be able to collaborate with experts and begin a career while finishing your course of study.
In this blog, we’ll go over how to use your education to set yourself up for career success. We’ll also show you how to enjoy working as a part-time realtor while you’re still studying.
How to Start a Career as a Realtor as a Student
You need to be at least 18 years old to become a licensed real estate agent. Therefore, you can apply from your first year of college. There are multiple factors to consider before applying, however.
Firstly, you must have a strong work ethic to study and work as a realtor simultaneously. Age might pose an issue in some cases, considering that people can doubt the abilities of realtors in their early twenties. On the other hand, younger generations are well-versed in social media and marketing tools.
Social media management and online presence are key factors in selling properties, as today most people spend hours online and marketing is crucial for any business. Moreover, millennials are at the top of the homebuyer demographic, so students are more likely to understand the buyer’s psychology and needs.
Getting a License
First of all, you must get a real estate education. Secondly, you need a license to start working as a realtor. To get a license, you have to go through a background check, pass a state licensing exam, and sign with a brokerage. There are some additional specific requirements for obtaining a real estate license depending on the state you live in. Therefore, we advise you to get more information about licensing in your area.
The specific requirements vary depending on the state.
- Age Requirements
- Residency requirements
- Educational requirements
- Background check requirements
- Real estate education requirements
- State examination requirements
Maintaining Your License
Professional qualifications need to be renewed frequently, as do real estate licenses. You need to renew your license periodically. States regulate the frequency of necessary licensing renewals. Most states require licenses to be renewed every two years, but some states have different rules.
You must be sure to keep up with the license renewal deadlines, so you can calmly continue your professional life. Some states have shorter renewal times at first, but the time period of renewal becomes longer after a few renewals.
Before you head into the real estate career, ensure that you have researched the license renewal process in your state.
Securing a Broker to Practice With
Several states require a real estate license applicant to show proof of sponsorship from a real estate broker. Real estate brokers can operate on their own, however, real estate agents are not allowed to work solo. Maintaining a partnership with brokers is usually better than being a freelance real estate agent.
If you wish to showcase rental properties, properties on sale, or investment property opportunities, you need to work with a broker.
Therefore, researching partnership opportunities ahead of time is encouraged. Gather information about local brokerages and their reputations. Research their sales, learn about agents associated with these brokerages, and choose a broker that’s the most suitable for you and your work process.
Brokerages offer different deals, payouts, and work hours. Attending real estate agency events and getting more information from professionals is advised. You should secure a deal with brokers that can be advantageous to you. Brokerages even offer mentorships and learning opportunities to young professionals. So, you should choose wisely.
After receiving your license and gaining a partnership with a broker, you will have to get errors and omissions insurance. The insurance is there to protect you from clients who falsely accuse you of negligence. Some states require applicants to have insurance even before taking exams. As such, you should research the requirements for insurance before starting to study for real estate agency exams.
Working as a Part-Time Realtor While Still in School
Realtors have the opportunity to pick their working hours and search listings on their own time. Therefore, you can study and work as much as you would like. However, it’s important to negotiate with the real estate agents that you work with and the brokerage that took you under its wing.
Being a real estate agent is one of the most efficient ways of earning a living while still in school. Moreover, you can create advertisements for social media in your free time. As a young person, it’s likely that you will be familiar with online advertising and social media property marketing. You can create these advertisements in less than an hour most of the time.
According to experienced property managers, property marketing is very simple and it doesn’t cost much nowadays. Therefore, you won’t have to make a lot of expenses from your payouts. You won’t even have to get stressed as navigating and creating websites and sharing listings can be a lot of fun if you enjoy such a business.
As a young part-time realtor still in school, managing your career will not become stressful and exhausting while studying. You can choose your hours, create inexpensive social media advertisements, and work with successful mentors.