So, you passed the exam and just got your real estate license… Now, what can you do with it?
Before you ask what you can do with your real estate license, take a moment to congratulate yourself. did it! You made it through real estate school and passed your exam – amazing work!
Before you worry too much about how to get your first job in real estate, take a moment to appreciate everything you have already invested into your career. What you accomplished up to this point was not easy! The team at VanEd - Real Estate School is proud of what you have accomplished thus far.
Even with the amount of work you have invested into your career up to this point, you know that this is only the beginning. You have an entire future ahead of you with many exciting possibilities. One of the best parts of working in the real estate industry is the incredible opportunities available to you. But with so many possible career paths, where do you start?
Career Opportunities After Getting Your Real Estate License
Having a real estate license does not lead you down a specific path. There are many real estate career paths that match the different skills and interests of those with a license. Before your get your first job in real estate, it is important to consider your options. There are many opportunities available to those who earn their real estate license. Even though being a real estate agent may seem the obvious first step, there are many options to consider.
Become a Real Estate Agent (Buyers Agent or Sellers Agent)
This seems like the most popular first job in real estate. A real estate agent aids in the sale of a property. The main purpose of this job is to represent the seller or buyer of a property. This position involves a fair amount of networking, interacting with others, and paperwork. Real estate agents usually earn a commission, or percentage, of the amount their property was sold/purchased for. In most states, a real estate agent must work under a brokerage. Learn more about the difference between agents and brokers here.
Become a REALTOR®
If you want to take one step further into the industry, consider completing GRI courses and becoming a REALTOR®. Taking the extra steps to become a REALTOR® indicates to buyers, sellers, and other real estate industry professionals that you have made the commitment to provide a high level of professional service to your clients by securing a strong educational foundation.
The GRI designation is the mark of a real estate professional that has made the commitment to provide a high level of professional services by securing a strong educational foundation. If you are still in the mindset to learn more about the industry, consider obtaining this valuable certification!
Become a a Commercial Broker
Commercial brokers assist with the sale, leasing, and management of commercial real estate. Commercial broker careers include many specializations. A broker may specialize in retail property, investment property, farmland, businesses, industrial or medical facilities and dozens of other types of property.
Some commercial brokers specialize in resort management or assist government agencies with redevelopment of industrial sites or reclamation of land. But, in many states, you are required to work in the real estate industry for a few years before you can become a broker. Still, this is a great goal to work towards. Brokers typically make more money than agents. See the difference in salary in all 50 states here.
Become a Property Manager
Once an investment property is purchased or developed, it needs to be managed. The property manager handles the day-to-day operations of a property. This includes staffing, contracting for services, repairs, maintenance, and leasing. Often property management is a salaried position. This gives a little more stability to those who are hesitant to work for commission.
Become a Real Estate Appraiser
An appraiser’s job involves developing an opinion of the market value or other value of real estate property. Almost all houses under contract or people looking to refinance need to undergo an appraisal. It is a great way to be active in the real estate field and get a consistent paycheck. Appraisers need to be experts in their market. If you feel like you are an expert in your area, appraisal may be a great career for you to consider.
Real Estate Niches - Choosing Your Speciality
When it comes to choosing which type of real estate you would like to manage, there are many options to choose from. Choosing a specialty will define your career. When choosing which real estate specialty to pursue, remember that your interests are the top priority. While it may seem like choosing the easiest or most lucrative market is the best path, make sure your interests and skills align.
Here are a few real estate markets to consider and traits that suit each market:
Residential Real Estate
These agents usually work with families or individuals looking for a home. The most common property types are single-family homes, condominiums, co-ops, townhouses, duplexes, triple-deckers, quadplexes, high-value homes, multi-generational and vacation homes.
Consider this niche if you:
- Love working with people
- Know how to find properties that suit different families or individuals
- Are great at multi-tasking and working with multiple clients at once
- Enjoy working in fast-paced environments
Written and Published by: VanEd