Thinking about a career in real estate?
Thinking about a career in real estate? Wondering how to get started?
Here are some basics, from our list of frequently asked questions.
HOW DO I GET STARTED?
To get a real estate license in Pennsylvania, you must first take two pre-licensing courses which are
generally offered together. In our immediate area, the courses are offered by Penn State DuBois and
Polley Associates. Here are links to those sites www.ds.psu.edu and
costs and schedule for courses can be found here. There are other approved real estate schools
listed on the Real Estate Commission website.
HOW MUCH DOES IT COST?
Basic costs to get started include the pre-licensing courses (in the $400 - $500 range depending on
where you take it), the licensing fees ($56 to take the test and $131 for a 2 year license), and
board fees – application ($150), lockbox deposit ($50) and membership fees for National, State
and Local Associations ($269 per year).
After that, there are some general supply costs– business cards, name riders, MLS monthly fees for instance... errors and omissions charges... and depending on the company you choose, there can be additional charges such as postage, long distance, advertising of homes, lockboxes, signs, etc. Coldwell Banker Developac Realty does not charge for these additional fees.
HOW DO I GET PAID?
In almost all cases, real estate is a total commission based business. If you should sell a house your first day, it will probably take between 30-60 days to close. Most advisors point out the necessity of having the ability to sustain yourself for a period of 6-12 months.
HOW DO I KNOW IF REAL ESTATE IS RIGHT FOR ME?
You may find that the one hour of your time invested meeting with us is well worth the time and effort to see if you are well-suited for a career in real estate. An outgoing personality, energy, attention to detail yet with an ability to focus on the big picture, plus determination, an ability to self-start, and resilience are some of the traits that are especially helpful. Sadly, approximately 9 out of 10 real estate licensees never renew their license when it's time (within a 2 year period.) This is a combination of lack of training, lack of realistic expectations, and a simple mismatch of personality with the personality traits required to be successful in the real estate business. We can help you determine how you will succeed in real estate.
WHAT KIND OF TRAINING WILL I GET?
Training varies greatly by company. Training is easy to promise but not always delivered. In addition to talking to the broker/owner or trainer, it can be a good idea to randomly call a few agents who work at a company and ask for information about the training and their success at their current company. There are some wonderful lists of questions to ask at the time of interview regarding training and other office procedures. If you would like a free copy, please email Michele Wray and ask for "what I wish my broker had told me."