Making the decision to attend a real estate school is the first step towards becoming a licensed real estate agent. The next step is taking real estate classes. While the thought of going ‘back to school’ may sound daunting, real estate school typically only lasts a few weeks and is an educational first step in joining the real estate industry. There isn’t a ‘one size fits all’ approach when it comes to real estate school, as the rules and regulations surrounding real estate education vary state-by-state. However, while the specifics may differ, real estate school is required by all states throughout the U.S.
In this article, we'll go through the key factors you should consider before choosing a real estate school. We'll also cover the general standards of practice for most real estate schools in the United States. So, before you embark on your real estate journey, here are 11 things you need to know:
How long is Real Estate School?
Depending on the state where you live, you may be required to attend anywhere from 40 to 180+ hours of classes. After completing the required courses, you will then have to study for the real estate licensing exam, which may take several weeks. Altogether, the process of obtaining a real estate license typically takes about 3 to 6 months.
Can I Attend Real Estate School Online?
Some states allow the classes to be taken online, whereas other states only allow in-person classes. In the state of North Carolina, you are required to attend in-person classes and cannot complete real estate school online. However, if you live in certain states, you have the option to attend real estate school either online or in-person. To find out if online classes are available in your state, check the list below:
- Alabama
- Arkansas
- California
- Colorado
- Florida
- Georgia
- Hawaii
- Illinois
- Indiana
- Iowa
- Kansas
- Kentucky
- Louisiana
- Maine
- Maryland
- Massachusetts
- Michigan
- Minnesota
- Mississippi
- Missouri
- Montana
- Nebraska
- Nevada
- New Hampshire (broker only)
- New York
- North Dakota
- Ohio
- Oklahoma
- Oregon
- Pennsylvania
- Tennessee
- Texas
- Utah
- Virginia
- Washington
- West Virginia
- Wisconsin
If you live in any of the above states, you have the flexibility to choose between online and in-person classes. However, if you reside in states like Arizona, Connecticut, Delaware, Idaho, New Jersey, North Carolina, Rhode Island, South Carolina, or Washington, D.C., you must attend in-person classes.
How Do I Start Real Estate School?
The first step in starting real estate school is determining whether online or in-person classes suit your learning style. If you prefer self-paced learning and have a busy schedule, online classes might be the best option for you. On the other hand, if you thrive on in-person interaction and prefer guidance from teachers, attending classes on-site might be more suitable. Consider your learning style and select the option that aligns with your preferences.
Once you've decided on the format, research different programs and gather insights from experienced real estate agents. They can provide valuable information about how they obtained their real estate license and offer recommendations. Enrolling in a real estate school is typically done through their website. After filling out your contact information and payment details, the school will provide you with the necessary steps to proceed. Online courses usually have a private portal where you can access the video lessons, while in-person classes provide details on the location, schedule, and required materials.
How Much Does it Cost to go to Real Estate School?
The cost of real estate school varies from state to state and among different schools. Prices can range anywhere from $100 to $500+. In North Carolina, for example, real estate school can range from $300 to $500. Bear in mind that in addition to course fees, you may need to purchase study materials such as textbooks, flashcards, and real estate exam preparation materials.
When choosing a real estate school, it's essential to compare prices and read reviews to ensure you're getting the best value for your money. Pay attention to the quality of the course and the instruction level offered. While two schools may have similar teaching methods and ratings, one may be considerably more affordable than the other.
Is Real Estate School Hard?
While real estate school requires focus and dedication, it is not considered excessively difficult to complete. It does, however, require a commitment to studying and understanding the concepts taught in class. You will learn various terms, concepts, and mathematical equations that will be tested in the real estate exam. Those who apply themselves, pay attention during classes, and study the material thoroughly should have no trouble completing the course and passing the exam. It's important to note that simply "winging it" is not a viable strategy for success. Take the time to study and understand the material, and seek support from classmates or study buddies if needed.
What do You Learn in Real Estate School?
Real estate school covers a wide range of topics related to the industry and its legal aspects. You will learn about real estate processes, including buying, selling, closing, escrow, taxes, mortgages, and more. Additionally, you will study various land descriptions, how to acquire and transfer property, and the legal disclosure policies that apply in your state. The curriculum often includes mathematical equations relevant to real estate, such as calculating acreage and square footage. Among the legal aspects covered, you will also learn about the Fair Housing Act, which prohibits real estate discrimination. Ethical practices and ensuring equal treatment for all clients are also key components of real estate education.
Why Do I Need to go to Real Estate School?
Attending real estate school is a necessary step towards acquiring your real estate license. It provides you with the essential knowledge and understanding of the industry's legal aspects, anti-discrimination practices, and relevant laws. Real estate school serves as the foundation for a successful career as a real estate agent. After obtaining your license, you will also need to take continuing education courses to stay updated with industry best practices. Failing to complete the required continuing education courses may result in losing your real estate license, requiring you to go through the entire process again.
Which States Require Real Estate School?
Every state across the U.S. requires attendance at real estate school. However, the availability of online classes varies. Some states allow online classes, while others only offer in-person options. For example, North Carolina only allows in-person classes, while other states like Alabama, California, Florida, New York, and Texas provide both online and in-person options.
Moreover, some states offer "license reciprocity" which allows real estate agents to practice in multiple states without having to attend real estate school or complete pre-licensing courses in each state. It's important to research the requirements of the state(s) where you intend to practice real estate to ensure compliance with their regulations.
Can I Get a Grant for Real Estate School?
Some real estate agencies may offer grants to assist in paying for your real estate license. However, these grants often come with the requirement to work for their office for a specific period. If you decide to go this route, make sure you are confident about joining their office before accepting the grant.
Another option for obtaining a grant is applying for Federal Student Aid through the Free Application for Federal Student Aid (FAFSA). This process can be completed online, and after submitting your application, you can search for real estate schools in your area through the portal. Upon selecting the school you wish to attend, submit the request to FAFSA. It's recommended to apply as early as possible, as grants are provided on a first-come, first-serve basis. Some real estate schools may also offer direct grants, which can be found on their website. Each school has specific eligibility criteria, so make sure to review them carefully.
Is the Real Estate Exam Hard?
The real estate exam can be challenging if you do not dedicate sufficient time to study and understand the concepts taught in class. Simply guessing the answers is not a viable strategy. The exam requires thorough preparation, including memorizing legal terms, mathematical equations, and other key aspects of real estate. The questions are designed to test your knowledge and comprehension, so diligent studying is essential for success. If you fail the exam on your first attempt, most states offer the opportunity to retake it after paying a fee. Consider partnering with a study buddy or joining a study group to make the preparation process more manageable.
What Steps do I Take After Attending Real Estate School?
After completing real estate school, you will need to prepare for the real estate exam. It's advisable to give yourself enough time to study before taking the exam, but don't wait too long as you want to maintain the knowledge acquired during your classes. Additionally, you will need to pay the associated fee to take the exam.
After passing the exam, you will then need to pay the necessary fees to file your real estate license application, which varies by state. You will also need to affiliate yourself with a brokerage office to house your license. It's recommended to meet with several brokerages to determine which office is the best fit for you. Consider factors such as mentorship and training programs, commission structure, marketing budgets, and overall support provided by the brokerage. Once you've selected a brokerage, join the office and consider becoming a member of the National Association of REALTORS® (NAR) to access resources that can help you enhance your professional skills and maximize your earning potential. Lastly, make sure to renew your real estate license according to the regulatory requirements of your state.
In conclusion, understanding the key aspects of real estate school and the path to becoming a licensed real estate agent is crucial for anyone considering a career in this field. By taking the time to research, choose the right school, and commit to studying, you'll be well-prepared to embark on a successful career in real estate.
Disclaimer: The information provided in this article is for informational purposes only and should not be considered legal or professional advice. Always consult with state-specific regulations and professional guidance when pursuing a real estate license.