If I obtained a real estate license, would I be able to make a decent money while going to college?

Question

I am interested in obtaining my real estate license, but I don't know if I can make any money working part time...would it be possible while attending college full time?

Answer 1

You might want to look into Rental management...you'd show apartments, commercial properties, and houses for rent.  This might be a better field for a part-timer.  You'd still need some training in Rental Law, but it might be well worth looking into.

Answer 2

It is not likely you would even break even after paying all of the fees for the MLS, board memberships and desk fee with a broker.  I doubt you will find a broker willing to accept just a cut of your income if you are part time, she/he knows there will not likely be ANY income at all.

You will have lack of availability, lack of life experience, and the fact that few people trust their families financial situation to someone very young.

Answer 3

Much depends on your age and your social contacts.  If you are quite young (typical college age), you would need to rely on social and other contacts to get you started making money.  Generally speaking, those with young college age contacts do not do well, since the greater majority of those contacts are not in the market to purchase or sell properties.

As well, I have seen difficulties with young agents, simply because the buyers/sellers seem to prefer someone 'more seasoned' (translate-OLDER).

As well, you need to understand that you would need to be available for clients at the drop of a hat, and they won't look kindly upon you when you claim that you can't help them right now because you are cramming for a final exam.

I'd advise finding other work to supplement your financial needs until you are done with the hectic schedules of college life.

Answer 4

NOT in the current market

Realtors are leaving the field, taking second jobs, economizing

You get paid ONLY when you make a sale, and with short sales abounding, not even then sometimes

Answer 5

After I obtained my BS in Biochemistry I could not get a job in my field right away.  My sister was a RE agent, and I had worked part time for her doing typing, flyers, paperwork, and for other office agents for years.  I got my license in 2 weeks, the test is so easy, and I worked in the office answering phones and doing more complicated paperwork after that for a bit of a raise.  If I were you I would get my license and try to get a job like that as a part time assistant, but not sell on your own yet.  To sell/list it takes more experience I think around the business, good contacts, and upfront investment of money (licensing fees, supplies, advertising).  I got my chemist job 9 months later, and stopped the RE business though, but it was good experience nonetheless.  Good luck!  (And that was one of 3 jobs I had in college at the same time while going full time-I also worked at Six Flags and in the labs at school so it is possible).  I made about $12 an hour as an assistant, this was in 1994. Remember you must pay your own SS, Medicare, and federal income taxes out of your gross pay, so if you sell houses and make $10,000 you will need to pay a lot more out of pocket then someone working a regular job with taxes withheld.

Answer 6

You can do this.  If you get lucky , you are going to consider postponing the college for a while.  The realty career is fun.  You might make $8,000 your first year.

Answer 7

i wouldn't bank on it, real estate is more of a supplementary income. You only make money off the houses you sell which can be months apart and you have to pay to keep yourself licensed.

Answer 8

Hi,

The answer to your question depends on your level of motivation and ability to multi-task. If you are a real hustler and go-getter with boundless energy, then you can definately juggle a real estate career with going to school full time. If you are a basic couch potato I would concentrate on school full time and go after all the grants and loans I could get. Many folks work at real estate part time, but most only make part time money.

That being said. Being a PROFESSIONAL Realtor is more than a fulltime job for most people who take it seriously. There are multiple levels of education within the field you'd want to work through to do the job professionally and to represent your clients well. Check out realtor.com for more info.

In my case, as a real estate entrepreneur, I would normally choose the Realtor to represent me who was dedicated to real estate full time and maybe went to school part time.

I hope this helps. Bottom line, it really comes down to your personal goals and aspirations, and what you believe with confidence that you can accomplish.