Real Estate Agents Earn Fortunes Delay Education

From UNLV’s Rebel Yell

The average age of a Realtor is 51. But when Laura Valencia was 18, she became a licensed Realtor.

Since becoming a Realtor two years ago, Valencia has found success in something she is good at and is interesting to her. Before she entered the world of real estate, Valencia was an art major and in her second year at the Community College of Southern Nevada. Her plan was to transfer to UNLV after her second year, but she decided to take real estate courses to earn some money and learn about a growing industry.

Although Valencia plans to go back to school soon, she presently finds her job very beneficial.

“I would say the best benefit would be the investments, aka my retirement,” Valencia said. “I also enjoy being my own boss. I am making my own appointments and can choose to work from home.”

The drawback of being a realtor, Valencia said, is the inflexibility.

“If your client is ready to go and you are unable to help, then it is almost certain you will lose them—[the] worst case scenario could be working every day from 8 a.m. to 10 p.m. until that particular contract is in escrow,” Valencia said.

Becoming a Realtor took Valencia five months from start to finish. The licensing procedure, which she said cost roughly $3,000, included taking classes part time (four hours a day for one month), prepping for and scheduling the exam and passing the course. There are two parts to the test: Law & Ethics and the Nevada State Exam. After passing, she had interviews with different companies to find the right broker, who in turn signed the forms for her to receive her license. After fingerprinting, a background check and two more months of waiting, Valencia finally got her license. She continued to take education courses throughout her first year as well, and must continue them every two years after that. She is now a real estate agent for Re/Max Home Store.

….And, perhaps most enticing of all, March said that real estate is a lucrative business.

“Educated and successful real estate professionals in both commercial and residential real estate typically earn six to seven figure incomes annually, as well as managing their own investments.”