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I am getting ready to move to Colorado Springs, CO and I am really considering getting my brokers license. I have a few questions.
1. What do I need to do to get a license?
2. How hard is it to do this job? I do have some savings and willing to do the leg work.
3. Is it a good time to get in this field?
I am a people person. Originally my background was finance (military)but for the last 11 yrs I have worked as a radiology tech in a hospital. I just need help and suggestion.
Call a few managing brokers and gauge how the market is doing there. I have taken the Colorado course twice online, it is brutal. Don't waste your time without talking to a few people that have boots on the ground in Colorado Springs. Have you lived in Colorado Springs before? If not, remember you value as an agent relies heavily on your market knowledge. Not really a career to pick up when you are new to the area.
I'm not familiar with Colorado state law, but in Michigan there are two levels of licensed real estate people: Real Estate Broker and Real Estate Salesperson. A person needs to pass a state exam to get a Salesperson's license and a Salesperson can only work under the direction of a Real Estate Broker. Only people with sufficient Salesperson experience and/or education can then apply to take the test to become a Broker. You can probably access Colorado's state licensing law online; and you might want to check into available classes which can prepare you to take a licensing exam. Some real estate companies may offer in-house training. Of course, you should also talk with local real estate agents so they can give you their perspective of what it takes to become licensed in Colorado.
As to your question of whether this is a good time to get into the business, however, my answer would be "no". That's because there are already too many licensed individuals trying to make a go of it in this depressed market. But...if it's something you think you're interested in pursuing--go for it.
We are all brokers in Colorado. 168 hours of pre-license school. Plus state exam and CBI/FBI background check. Then hire onto a brokerage company.
Real Millionaire Real Estate Agent by Gary Keller first.
This business is not only about people, but structure, time management, analytics, negotiation, trust, etc...
Thanks for all the help. I understand the business aspect, I tend to be a little anal, love structure, and I tend to put everything I am into what I do. How is the market in Colorado? Can I start out as a new resident and be successful at this or should I wait for a couple of years until I learn the area?
Not knowing the area, people and culture of CO you'll be at a disadvantage starting your business. My son lives in the Mass area and it would be totally strange for me to move from our style of TX homes and southern people to the New England style.
It can be done but you'll need to learn about the people, the area, the schools, the houses, the small things like types of landscaping, the builders, the local values and so much more.
When you sell real estate you have to have the answers and be extremely knowledgeable on the local level. It can be done with much commitment, education and getting quickly involved with the community. You'll need to be able to support yourself for a year or two while you build your knowledge and business (& Income).
Honestly, you will probably make more money doing radiology tech than real estate sales in this climate. Also there is very little structure. You will have to sell, sell, sell which means appeasing the buyer/seller. You will never know when you might get another paycheck, its based on commission. May be next month, maybe not. Most of the time and people will always be tossing you problems you will not be trained on or have knowledge of and you will have to wing it to succeed. Your also pretty much on your own. Other agents will rarely help you if they are not getting a cut of your commission. If you have never been in any type of sales, this may be difficult for you.
If I could go back in time I would have kept my desk job until this passes!
You will be expected to know what day is garbage pick up? Whose the best cable provider? whose a good contractor? Plumber? Roofer? Painter? Landscaper? Vet? Dog walker? Dentist? Wheres the nearest recycling center? ect. ect. The agent is usually the first point of contact in the community for a lot of Buyers. You will be at a ridiculous disadvantage.
If I could go back in time I would have kept my desk job until this passes!
You will be expected to know what day is garbage pick up? Whose the best cable provider? whose a good contractor? Plumber? Roofer? Painter? Landscaper? Vet? Dog walker? Dentist? Wheres the nearest recycling center? ect. ect. The agent is usually the first point of contact in the community for a lot of Buyers. You will be at a ridiculous disadvantage.
This is what I meant by knowing an area on the local level. When someone asks what type of tree is in the front yard, you should know the answer.
Thank too everyone for all the help. I think I will do my original trade and then learn the business. You all have been wonderful
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