Let’s look at how to get from desire to sales and into a successful career. [accordion_group] [accordion title=”You must get licensed”]The Real Estate Agency of the State of Oregon controls licensing and governs real estate practice in our state. For the most up to date information on licensing go to the REA site and search out its information and brochures: www.oregon.gov/rea
You will have to complete 150 hours of required curriculum, pass many quizzes, take several proctored tests, and pass a final exam with two sections covering both state and national issues. You can get your classes through community colleges (in their normal curriculum), through local classes, or online through approved schools (I took mine online through Proschools, but there are others to shop as well). More information is on some of the REA forms. Costs are about $365 plus the cost of the course at $600+.[/accordion] [accordion title=”You must pass an FBI background check “]This involves submitting a full set of your fingerprints. This is usually done in conjunction with licensing and often the schools will do this for you.[/accordion] [accordion title=”Interview prospective real estate offices”]You will need to be under the supervision of a Principal Broker for at least 3 years. While you are taking your pre-license test, it is time to interview various brokerage firms or offices and learn everything you can. You are not applying for a job; you are on a fact-finding mission to see who you will join based on what you learn about them. You have a lot to learn about:
Being an “independent contractor”, a technical term with the IRS. This is similar to being self-employed in business.
Different Business Models in our industry and how to differentiate between them (the world has changed a lot).
Requirements and responsibilities you will have in that office
Your compensation (including commission splits & caps, royalties, fees, and expenses).
The ‘corporate culture’. Some offices are large, some small, but that does not say enough about the working conditions. All Realtors® are competitors with each other, but there can be big differences in the way that manifests itself within a brokerage. New agents can be particularly vulnerable to extreme completion. Be thoughtful and do your due diligence.
How much independence and autonomy do they offer? Do they dictate commission amounts? What about personal transactions? Can you develop a team? What is required in advertising; whose phone number?