Take a moment to congratulate yourself before asking what can you do with a real estate license or what real estate career options you have. Did you do it? As you are here to know what can you do with a real estate license, that means you’ve either decided to get one or already have one. Either way, you are on your way to greatness!
Since a real estate license can lead to a range of professional prospects, obtaining one or deciding to obtain one is the first step toward endless possibilities and success. Real estate sales are the most common choice for real estate licensees. Real estate opportunities abound once you’ve obtained your license.
So, what can you do with a real estate license? If this is now your alarming concern, then don’t worry. This article will go over the ins and outs of the endless possibility of what can you do with a real estate license. Also, for your convenience, this article concentrates on how to get a real estate license in Texas and how long does it take to get a real estate license.
Are you ready to take it to the next level? Let’s get started.
What Can You Do With A Real Estate License?
Real estate is a thriving industry that continues to grow. Having a real estate license does not imply that you will follow any particular path. There are a variety of real estate career options available to suit a licensee’s abilities and interests.
While working as a residential real estate agent is one of the most prevalent careers in the real estate market, it is far from the only one. Yes, the majority of high-profile real estate employment options include purchasing and selling residential properties. However, the profession is diverse, and a real estate license can lead to a variety of other opportunities. Whether you desire more flexibility, more structure, larger stakes, or lower stakes, you’ll almost certainly be able to find it in real estate.
So, if you’re puzzled about what can you do with a real estate license, you’ve found the right place. I’ve compiled a list of some of the best real estate careers available.
Real Estate Career Opportunities (What Can You Do With a Real Estate License?)
You can pursue any of the following career choices once you get a real estate license:
1. Agent for Residential Real Estate
So, what can you do with a real estate license? Let’s start with the obvious. When most people think of a real estate agent, they envision someone who assists individuals and families in purchasing or selling homes. People move all the time, whether it’s across town or the country, so working as a residential real estate agent offers a lot of chances.
The success of a residential real estate salesperson is defined by how well they meet their clients’ needs. Agents, on the other hand, develop their client acquisition tactics. This is why the ability to provide exceptional customer service is critical to an agent’s success.
Since the agent’s income is based on commission, finding more leads will increase their earnings. As a result, growing your network and prioritizing your clients are the most important components of your job as a salesperson.
2. Commercial Real Estate Agents
The typical real estate agent focuses on residential sales. Residential properties, on the other hand, aren’t your sole option. You can also engage with commercial real estate transactions as a licensed agent. Commercial real estate refers to properties that are used for business purposes. This could range from a modest office to a major industrial complex.
Working on more complicated commercial and industrial transactions provides an extra opportunity for professional development and challenges. Because commercial property values are often higher than residential property values, you’ll be able to make more money by closing fewer agreements. Of course, each of these transactions takes longer than a typical home sale.
Working in the commercial sector demands strong analytical and financial skills.
3. Real Estate Broker
A real estate broker is not the same as a real estate agent, despite the fact that the terms are sometimes used interchangeably.
A broker differs from an agent in that a broker is a licensed real estate professional who has completed further training and is qualified to manage a real estate business with many agents. So, if you have an entrepreneurial spirit and are considering what can you do with a real estate license, consider a position as a broker.
4. Property Manager
When it comes to figuring out what can you do with a real estate license, becoming a property manager is a popular option. The goal of a property manager is to make sure that property, whether residential or commercial, runs well and, in the end, produces money for whoever owns it. For this position, you’ll require excellent communication and organizing skills.
Surprisingly, if you work as a salaried or hourly employee for a licensed property management company, you don’t need a real estate license. However, working independently on a commission basis, which does require a real estate license, can often be more lucrative. It’s nice to know that you have the option.
5. Leasing Agent
Still wondering, what can you do with a real estate license? Okay, there are still a lot of possibilities accessible. If you want to help clients locate their perfect home but don’t want to work as a residential real estate agent, consider working as a leasing agent.
A leasing agent is in charge of locating the ideal tenant for a property. They deal with the property owner on a one-on-one basis. You’ll be assisting people in finding the ideal rental property for them in this position.
This employment is very comparable to the classic real estate model in terms of positions you can get with a real estate license. Instead of dealing with buyers and sellers, you’ll deal with a landlord and possible tenants.
6. Real Estate Investor
Real estate investors, as the name implies, invest in real estate. Active and passive real estate investing are two different types of investments.
A conventional “house flipper” is a type of active investor. This person would either acquire and resell residential properties or help another investor or contractor buy a home to resale.
A passive investor is someone who makes a real estate investment but does not engage in the project’s day-to-day operations.
7. Foreclosure Specialist
This is another intriguing choice if you’re wondering what can you do with a real estate license or real estate career opportunity.
A foreclosure expert is someone who works for a bank or a private lender and is in charge of all the paperwork and procedures that must be followed when a property is foreclosed on. They will examine the client’s financial statements and handle foreclosure issues to resell the property as soon as possible. A foreclosure specialist needs to be organized and able to fulfill deadlines.
9. Real Estate Attorney
A real estate attorney could be a smart choice if you are unsure about what can you do with a real estate license and want to pursue further education in the field. Lawyers that specialize in real estate operations work in a range of sectors. They could represent tenants’ rights or offer advice before a large real estate purchase.
How Long Does It Take to Get a Real Estate License?
As you are concerned about getting a real estate license, you will also want to know how long does it take to get one. Before beginning the procedure, everyone asks themselves this question. So, now let’s discuss how long does it take to get a real estate license.
A real estate license does not come easy, but it does not take as long as some other professional licenses. A bachelor’s degree is also not required to become a licensed real estate salesman. To pursue a career in real estate, all you need is a high school certificate; in fact, some states don’t even require it!
So, how long does it take to get a real estate license in your state? It depends on some facts and varies from one state to another. So, let’s break down the factors.
What Factors Influence How Long Does It Take to Get a Real Estate License?
The length of time it takes to obtain a real estate license is determined by the following criteria:
- What is the minimum number of course hours required in your state?
- Whether you want to learn via an online real estate school or in a traditional classroom setting.
- The time it takes to apply for a state.
So, in a regular classroom setting, obtaining a real estate license takes at least 4-6 months. If you take your real estate pre-licensing course online, it can be completed in as little as 8 weeks, depending on how quickly you want to go.
You can study at your own pace, whenever and wherever you want, with an accredited online real estate school. Motivated students can finish their coursework in a fraction of the time. Determine which online real estate school is the best by conducting research.
How to Get a Real Estate License in Texas
It matters which state you are from. Each state establishes its own rules for granting real estate licenses. That means there are 50 various ways to obtain a salesperson or real estate broker license, each with its own set of timeframes.
So, how to get a real estate license in Texas? Let’s look at it briefly.
In Texas, there are two sorts of licenses, and the requirements differ based on which one you want.
A Texas real estate agent, for example, can handle real estate transactions but must work under the supervision of a licensed broker. A broker, on the other hand, can operate their own business and recruit other agents to work for them.
You must satisfy all prerequisites for both licenses within one year of submitting your application.
The following are some prerequisites for becoming a real estate sales agent:
- To take part, you must be at least 18 years old.
- Must finish 180 hours of real estate coursework through an accredited source (six courses) or have a four-year degree in real estate.
- The final exam must be passed.
- Must be completely honest with all the information given and pass a background check.
- To get the license, you must be sponsored by a broker.
The following are the prerequisites for obtaining a broker’s license:
- To participate, you must be at least 18 years old.
- Within the last five years, you must have worked as an agent for at least four years.
- Must finish 270 hours of real estate coursework (seven courses) through an approved source, plus 630 hours of approved continuing education courses, or hold a four-year real estate degree.
- A final exam must be passed.
- It is necessary, to be honest, to pass a background check.
A word regarding background checks: You must disclose all criminal convictions on your application. Depending on the offense, a conviction may or may not be disqualifying, but neglecting to declare a record, even if it is for a petty misdemeanor, might result in your application being denied straight away.
How Long Does It Take to Get a Real Estate License in Texas?
In Texas, becoming a real estate agent at the sales agent level can take three to four months from start to finish.
The road to becoming a broker may take a little longer because of the additional requirements, which include completing 270 hours of real estate coursework (rather than the 180 hours required to become an agent), and an additional 630 classroom hours in qualifying courses and a minimum of four years of experience working as an agent.
So, What Can You Do With A Real Estate License?
The real estate sector is a thriving and rising industry. There are many different types of real estate careers available. So, if you acquire a real estate license, then you do not need to be worried or searching here and there about what can you do with a real estate license because having a license means you have numerous opportunities available to choose a career path.
Frequently Asked Questions (FAQs)
1. How long does it take to earn a bachelor’s degree in real estate?
A bachelor’s degree in real estate can normally be earned in four years by full-time students. Some online programs take a little less time to finish than others. The majority of programs have 100-120 credits of study, which includes both major and core requirements.
2. Is a real estate degree required to be a real estate agent?
While a college degree isn’t required to become a real estate agent in most circumstances, it does help job seekers stay competitive and current. A bachelor’s degree in business, finance, or a similar discipline is more than sufficient.
3. What is the distinction between a realtor and a real estate agent?
Real estate agents are licensed to assist customers in the purchase, sale, and rental of real estate. A Realtor is a member of the National Association of Realtors who is a licensed real estate agent or broker (or other real estates professional) (NAR). The rigorous Code of Ethics of the National Association of Realtors (NAR) must be followed by all members.
4. Who makes more money in the real estate industry: agents or brokers?
Salary of a Real Estate Broker vs. a Real Estate Agent: The average yearly income for a real estate broker in 2019 was $163,540, according to the United States Bureau of Labor Statistics (BLS). The average income of a real estate agent was $61,720.
5. Is real estate still a viable career option in 2021?
In 2021, being a real estate agent will provide a plethora of opportunities. Despite the significant changes that have occurred, the market will continue to expand. With the correct training and exposure, agents will be able to adapt to the changing landscape and keep thriving.