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So I'm 30 hours into my 75 pre-licensing courses and feeling really good. Tons of reading; wrapping my head around technicalities but getting more and more excited about the prospect of a career in real estate (the fact that I'm becoming increasingly miserable at my current job which I used to love probably also helps with this).
As much as tangents from the course material can sometimes be annoying; our instructor often talks about the process by which licensees become part of a firm. Interviewing with BICs; getting your license activated, being provisional and what your role is as a provisional broker; post-licensing within 3 years etc....
My question is how common/worth-while is it to go to work for a firm immediately after obtaining your provisional license (my pre-licensing course finishes Feb 25th and I plan to take my licensing exam in March);AND work as a provisional broker before/while taking the 90 hours of post-licensing?
Is this something that BIC's even entertain much? Or do they basically hold off on new licensees until they get their post-licensing done?
Ideally I'd like to be able to leave my current job in the Spring but also have a mortgage, car payment, and enjoy eating food.
So I'm 30 hours into my 75 pre-licensing courses and feeling really good. Tons of reading; wrapping my head around technicalities but getting more and more excited about the prospect of a career in real estate (the fact that I'm becoming increasingly miserable at my current job which I used to love probably also helps with this).
As much as tangents from the course material can sometimes be annoying; our instructor often talks about the process by which licensees become part of a firm. Interviewing with BICs; getting your license activated, being provisional and what your role is as a provisional broker; post-licensing within 3 years etc....
My question is how common/worth-while is it to go to work for a firm immediately after obtaining your provisional license (my pre-licensing course finishes Feb 25th and I plan to take my licensing exam in March);AND work as a provisional broker before/while taking the 90 hours of post-licensing?
Is this something that BIC's even entertain much? Or do they basically hold off on new licensees until they get their post-licensing done?
Ideally I'd like to be able to leave my current job in the Spring but also have a mortgage, car payment, and enjoy eating food.
Any thoughts?
You will be heavily recruited as soon as you get your license.
You will be able to affiliate and start training with your chosen firm.
And, you will be able to take post-licensing classes immediately, too, if your schedule works.
Frankly, I would just take the 90 hours and get it out of the way either first, or concurrently with training.
It is a 90% re-hash of prelicensing anyway. You will have it all top of mind, and won't have the procrastination pressure that PBs have when they fear they will miss their 30 hours in each year.
Your BIC will love to see you exit PB status ASAP, I guaran-dang-tee it.
My question is how common/worth-while is it to go to work for a firm immediately after obtaining your provisional license (my pre-licensing course finishes Feb 25th and I plan to take my licensing exam in March);AND work as a provisional broker before/while taking the 90 hours of post-licensing?
Is this something that BIC's even entertain much? Or do they basically hold off on new licensees until they get their post-licensing done?
it seems most people start working immediately, if they've gotten their license with the intent of making it their career.
I haven't heard of ANY firm that prefers or even seeks out licensees that have passed all of the post-licensing first.
If you don't have 6 months of expenses saved up, I wouldn't dare leave a job to become a full-time agent. Assuming you're a 40-hr worker, then you need to spend the other hours on the real estate side, to actually learn real estate and figure out where and how to get clients.
it seems most people start working immediately, if they've gotten their license with the intent of making it their career.
I haven't heard of ANY firm that prefers or even seeks out licensees that have passed all of the post-licensing first.
...
Here's one:
Spoiler
Realty Arts.
When I sat for BIC class, Trish Malloy taught it and emphatically spoke to independent brokers, admonishing us not to hire PBs.
I'm cool with that. I have had the opportunity to hire PBs, and passed on it.
A PB needs to give very careful consideration prior to joining a firm where the BIC and owner are active in listing and selling property.
Not primarily due to competition from management, although that can be a concern.
Not for fear of not getting handed hot leads. Good agents generate their own book of business, independently of the company.
But, primarily due to availability for legitimate training and required supervisory support.
I would hesitate to affiliate with a firm with a busload of PBs in house, as some firms have 30, 40, 50, or more. At some point, the BIC cannot supervise properly at all due to overall volume.
it seems most people start working immediately, if they've gotten their license with the intent of making it their career.
I haven't heard of ANY firm that prefers or even seeks out licensees that have passed all of the post-licensing first.
If you don't have 6 months of expenses saved up, I wouldn't dare leave a job to become a full-time agent. Assuming you're a 40-hr worker, then you need to spend the other hours on the real estate side, to actually learn real estate and figure out where and how to get clients.
My current job is salaried (under $40k pre-tax) and exempt. health insurance (HSA), dental, and a 403b retirement account where I've accrued about $20k.
A colleague of mine (works in another department; but similar level of responsibility) got his license last month and has been working "part time" for a CB firm in Hillsborough for the past month and put in his notice at our current employer last week to work in RE full-time. He has a wife (a teacher who I believe is currently only tutoring) and toddler.
While I generally don't always take this particular individual very seriously; when he said it was pretty much impossible to do work as a broker/agent part time while working at our current employer full-time; I was inclined to believe him.
I probably have about 3 months of living expenses in savings...that along with losing health insurance; even-though I never use it, are my biggest "fears" associated with this big change in career and compensation type. FTE with a W-2 to "1099" status definitely causes me some anxiety.
That being said; I'm single, young and in good health, and own a modest home where I have a roommate/tenant whose rent check covers about 90% of my mortgage. There may not be a better time to have non-guaranteed income to start a new career I believe I'd love.
Part of me would rather work an admin job in an RE office until completing post-licensing; I just wouldn't want to miss out on potential client-building and sales experience in doing so. Is it at all common to do both? Work full-time admin and part-time broker for a firm? That would be my dream scenario to start with but I'm guessing that's some pie-in-the-sky thinking on my part.
Am I an extreme case of over-analytical here or is this type of mindset typical of RE professionals when they first start out?
Part of me would rather work an admin job in an RE office until completing post-licensing; I just wouldn't want to miss out on potential client-building and sales experience in doing so. Is it at all common to do both? Work full-time admin and part-time broker for a firm? That would be my dream scenario to start with but I'm guessing that's some pie-in-the-sky thinking on my part.
All or nothing, buddy. Don't just stick one toe in the water. "Do, or do not". Admin jobs in real estate do not prepare you with the necessary buyer agent and listing agent skills. They provide some money, but don't confuse the money and shuffling paperwork with the actual "get out there and DO it" necessary to build a successful real estate career. (Plus, real estate admins are notoriously low-paid, except for the ones that have been doing it for a long time and know the business inside and out. Just sayin' :-) Plus, if you are an admin, you are expected to be an admin. The brokers you are working for won't take kindly if their listing isn't posted on time just because you had to show some buyers homes all afternoon.
If I were you, I'd work on my database and get my marketing set up before I quit my day job. That will give you some time to at least hit the ground running.
All or nothing, buddy. Don't just stick one toe in the water. "Do, or do not". Admin jobs in real estate do not prepare you with the necessary buyer agent and listing agent skills. They provide some money, but don't confuse the money and shuffling paperwork with the actual "get out there and DO it" necessary to build a successful real estate career. (Plus, real estate admins are notoriously low-paid, except for the ones that have been doing it for a long time and know the business inside and out. Just sayin' :-) Plus, if you are an admin, you are expected to be an admin. The brokers you are working for won't take kindly if their listing isn't posted on time just because you had to show some buyers homes all afternoon.
If I were you, I'd work on my database and get my marketing set up before I quit my day job. That will give you some time to at least hit the ground running.
When I sat for BIC class, Trish Malloy taught it and emphatically spoke to independent brokers, admonishing us not to hire PBs.
I'm cool with that. I have had the opportunity to hire PBs, and passed on it.
A PB needs to give very careful consideration prior to joining a firm where the BIC and owner are active in listing and selling property.
Not primarily due to competition from management, although that can be a concern.
Not for fear of not getting handed hot leads. Good agents generate their own book of business, independently of the company.
But, primarily due to availability for legitimate training and required supervisory support.
I would hesitate to affiliate with a firm with a busload of PBs in house, as some firms have 30, 40, 50, or more. At some point, the BIC cannot supervise properly at all due to overall volume.
I should have said "sizeable" by office count/agent count, etc
Our firm has > 100 I'm sure, but I'm not sure any individual office has a number that's > 15
If your co-worker is smart and has too many productive things going on in real estate, then that's the way to go.
Thinking you can be IN real estate, and get paid for 30 hours or so while you work for the non-productive hours isn't going to work.
If you want to quit your FTE job, and have SOME income and as much work as you can bear, then look for a team. But on 90% of the most successful teams, you'll be working your ace off under some fairly "strict" systems and methods. I'd think you'll definitely learn ALL the methods used to gain clients, those you like and those you don't.
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