This may sound like a trick question, like “who’s buried in Grant’s Tomb”. But, in all seriousness, I need the SDopers to think outside the box here! If I were to get a real estate license, but suppose I don’t want to be in sales…would this license open any other doors for me? If I’m after the big bucks, would this license allow me to work within the office? For example, would it allow me to assist with the logistics of sale ranging from interfacing with attorneys, title searches, processing paperwork…
I guess I’m wondering if there’s anything between receptionist and sales rep. And then, maybe I could warm up to conducting my own sales…? Does such a position exist, or am I dreaming?
Before I get bumped to another SD Board, let me say on my behalf that: Moderators, again I assume this question has a factual answer based on the knowledge of those in the field. Sure, I’m not asking “What is the speed of light in a vacuum”, but the answer to this question is more fact than opinion. - Jinx
Where do you live? And the answer to the Q is yes. My sister lives in Phoenix, and the real estate business out their is booming. And she never see’s her clients. She owns a company that works as middle woman for loan closing, processing, and lien stuffs. She makes very very good money and never leaves her home office. Of course she leaves but she mostly deals with banks, and attorneys…
Currently I hold a Real Esate license inn Illinois but have since switched to a more lucrative career in computers, so my recollection of facts may be skewed.
For many positions in the RE field you need not have a license. But when dealing with the public you will need it. For example to be an assistant with limited capabilities to a licensed agent you don’t need to be licensed. But to expand what you can legally do or to sell or assist buyers on your own you do need to be licensed. What a tough career though.
My suggestion is to select what area of real estate - lending, leasing, etc, you may be interested in, learn something about that if you can and then decide whether you need a license. The license will not hurt, but it may not be necessary.
The real estate license is not necessarily a sign someone is an expert. I held a license for many years while in mortgage lending in a financial institution. Most of the agents I came into contact with had only a rudimentary notion of what was going on, but real estate was their field not their expertise – sales.
These sales agents knew how to show a property, get a home listed and encourage someone to buy. That was their job, it wasn’t to know the details of titlework etc. It’s the difference between the car saleman and the mechanic. Each has an area of knowledge and skill, but don’t confuse one with the other.
I have been a RE agent since 1987 and hold both a MD and DE license. With respect to “assisting with logistics” in terms of being an assistant of some kind you can do most of this (in MD) without a license, but it gets a little more complicated if you begin to make meaningful representations in terms of discussing price, contract terms, etc. etc. regarding the property with interested clients. Many RE agents are licensing their assistants for this very reason. Having a license is a little bit of a CYA and the licensure course does clue you in to some of the more sensitive aspects of dealing with clients so as not to get yourself, and the agent and/or brokerage you work for, sued.
If you’re serious about making some real money you really need to be in some professional capacity with respect to being a salesperson, a mortgage lender or something similar. Being an assistant is OK but it’s not going to be all that remunerative vs. being a salesperson or lender.
It’s fun to start every year as a fully commissioned independent contractor with absolutely no guarantee of an income besides what you can drag in the door, no health insurance, no medical, no pension. It’s all you baby. It’s an interesting life and you get out of it what you put into it. Come on and ride the wave!