How to Get into Real Estate

The real estate market presents many different opportunities for those seeking careers or investment opportunities. Because the field is so broad, you can be involved in real estate as an agent, appraiser, property manager or investor. You can even get involved in the mortgage side of the real estate industry and work as a lender. Get into real estate by learning about the residential and commercial market and choosing the industry specialty that appeals to your skills and interests the most.

Method 1
Method 1 of 3:

Become a Real Estate Agent

  1. [1]
    • Look for opportunities to take courses at a large brokerage agencies in your area. Several real estate firms provide training, classroom work and help with studying for the licensing exam. They usually take a few weeks and cost from $200 to $900, depending on where you live.
    • Enroll in real estate training courses at your local community college. These programs often take longer but cost less. You will learn the basics of being a real estate agent and prepare for the licensing exam.
  2. [2] Each state will have different ways of licensing real estate agents, and an exam is always required. [3]
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  3. Most real estate agents build their client list by working with a large and well-known real estate company such as Re/Max, Coldwell Banker and Long & Foster.
  4. [4] Let everyone know you are a real estate agent and that you are willing to help them find their dream home or sell their current house.
  5. There are courses you can take through the National Association of Realtors and other groups that will help you develop your skills and knowledge in real estate. [5]
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Method 2
Method 2 of 3:

Become a Real Estate Investor

  1. You will need a lot of liquid cash to pay for properties and make down payments as well as excellent credit to ensure loans and financing. [6]
  2. [7] Some real estate investors buy properties, update them and then sell them again (known as flipping). Others buy investment properties they will rent out to tenants and some investors buy commercial buildings such as apartments or properties in malls and shopping centers. [8]
  3. Buy shares in a real estate investment trust (REIT) if you do not have a lot of capital to invest, but you want to get into real estate investing. [9] REITs attract individual and institutional investors and pay dividends on the earnings they accrue. [10]
  4. You will need to develop close professional relationships with real estate agents, mortgage lenders and property managers who can help you identify and secure profitable investment properties.
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Method 3
Method 3 of 3:

Become a Property Manager

  1. [11] Property managers help property owners lease their residences to qualified tenants and take care of any maintenance, repairs, inspections and evictions during the tenancy. [12]
    • Study the real estate and landlord/tenant laws in your state. As a property manager, you will need to understand Fair Housing Laws and other state and local ordinances that oversee how you manage property.
  3. This is a good way to get started in property management and real estate because you can help people find places to live and screen applicants who want to live in the building you work for.
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How Do You Become a Real Estate Developer?


Expert Q&A

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  • Question
    Do you need a license to rent properties to others?
    Nathan Miller
    Property Management Specialist
    Nathan Miller is an entrepreneur, landlord, and real estate investor. In 2009, he founded Rentec Direct, a cloud-based property management company. Today, Rentec Direct works with over 16,000 landlords and property managers across the United States, helping them manage their rentals efficiently.
    Nathan Miller
    Property Management Specialist
    Expert Answer
    If you are buying properties yourself and renting them, then you will not need a license. You will need a license if you are acting as a realtor and helping other people buy or sell properties or if you plan on helping other owners manage their properties.
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  • Question
    How do you know if real estate is a good career path?
    Nathan Miller
    Property Management Specialist
    Nathan Miller is an entrepreneur, landlord, and real estate investor. In 2009, he founded Rentec Direct, a cloud-based property management company. Today, Rentec Direct works with over 16,000 landlords and property managers across the United States, helping them manage their rentals efficiently.
    Nathan Miller
    Property Management Specialist
    Expert Answer
    The beauty of real estate is that you can start really slow without a lot of risk. Get your feet wet with just one rental property to see if you enjoy it. If it turns out that you do, try growing your property list. Eventually, you can start making more income from rental properties than you do at your day job and go into real estate full time.
    Thanks! We're glad this was helpful.
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    If wikiHow has helped you, please consider a small contribution to support us in helping more readers like you. We’re committed to providing the world with free how-to resources, and even $1 helps us in our mission. Support wikiHow
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      Tips

      • Keep your interests and ambitions flexible. You might start off answering phones for a real estate broker and work your way up to a licensed agent or start a career as a mortgage broker and move into commercial real estate investing.
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      • Increase your preparation for the real estate market by getting to know how mortgages are made, how appraisals are conducted and the differences in commercial and residential markets.
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      • If you want to be an appraiser, you can check this article.
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      Warnings

      • Prepare to withstand the ups and downs of the real estate market. As you may have noticed from the last few years, there are dramatic highs and lows when it comes to real estate prices, mortgage interest rates and other indicators involved in the real estate market. [13]
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      References

      1. ↑ https://www.realestateexpress.com/real-estate-license/
      2. ↑ Nathan Miller. Property Management Specialist. Expert Interview. 15 October 2018.
      3. ↑ https://investfourmore.com/real-estate-agent/license-requirement/
      4. ↑ https://www.apa.org/gradpsych/2015/04/matters
      5. ↑ https://www.nar.realtor/education/courses
      6. ↑ https://www.nerdwallet.com/blog/investing/5-ways-to-invest-in-real-estate/
      7. ↑ Nathan Miller. Property Management Specialist. Expert Interview. 15 October 2018.
      8. ↑ https://www.forbes.com/sites/forbesleadershipcollective/2018/04/09/seven-investment-strategies-to-build-real-wealth/#158498f31463
      9. ↑ https://www.investor.gov/introduction-investing/basics/investment-products/real-estate-investment-trusts-reits
      1. ↑ https://www.reit.com/investing/how-invest-reits
      2. ↑ Nathan Miller. Property Management Specialist. Expert Interview. 15 October 2018.
      3. ↑ https://www.realestateexpress.com/career-hub/grow-your-real-estate-career/get-to-know-your-local-real-estate-market/
      4. ↑ https://www.entrepreneur.com/article/204530
      5. http://www.realtor.org/realtororg.nsf/pages/careers
      6. http://www.npr.org/2013/06/13/188979111/how-to-invest-in-real-estate-without-being-a-landlord

      About this article

      Article Summary X

      To get into real estate, contact brokerage agencies in your local area to see if they offer a real estate agent training program. Alternatively, sign up for real estate training at your local community college. Once you’ve completed your training, take the real estate agent’s exam in your state to get licensed. Then, start working with an established firm, such as Re/Max, to build your client base. Additionally, promote your services to friends and acquaintances to expand your professional network. For tips on how to become a real estate investor, keep reading!

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      Reader Success Stories

      • Anonymous

        Nov 20, 2017

        "Perfect amount of content to give an idea of what it takes to become an agent."

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