Do You Need a College Degree to Be a Real Estate Agent?
March 02nd, 2024
Do You Need a College Degree to Be a Real Estate Agent?
Are you interested in becoming a real estate agent and want to know if you need a degree and how to start your career? Here is what you should know about becoming a real estate agent.
Are you thinking about a career in real estate? This industry has many opportunities, and real estate agents are the most popular. Real estate agents, both listing and selling agents, bring buyers and sellers together in their properties. While you do not need a college degree to become one, some firms appreciate people who do.
So, the short answer is no; a college degree is not a prerequisite to becoming a real estate agent. Instead, you must complete pre-licensing courses to fulfill the educational component of the real estate industry training. However, be aware that every state is different. You should also have certain skills to be a real estate agent.
Some states may require a high school diploma or GED, and most of the United States require 18 years of age to get a license. The National Association of Realtors states that only 31% of all natural estate agents have a bachelor's degree. It may not be required, but it never hurts. Keep reading to learn more about becoming an agent and what to know.
Here is how to become a real estate agent and what it requires.
Chapters
1. Basics of Career in Real Estate
After obtaining your real estate license, you may be wondering how to proceed and begin earning income as an agent. Although it can seem slow and expensive to start and grow your real estate career, there are numerous ways to assist you in advancing.
To start, you have to obtain the license; this process can be done on your own time and can take a few years to months. For North Carolina, you must take a 75-hour prelicensing course that sets you up for the North Carolina state licensing exam.
After doing so, you will want to join a brokerage. Join a brokerage allows you to grow as an agent, work with other agents, access beneficial tools, and receive guidance and support. In the long run, joining a brokerage has many pros and is an excellent way to grow their business.
Some people prefer to join a team, while others like to join associations or start their own business. Each of these options offers different benefits depending on your personality and your ability to maintain personal development and business growth.
2. Education and Training
In most cases, you do not need a college degree to become an agent, but it does help potential career job seekers stay competitive and relevant. If you are highly invested in the field, why not get a degree in real estate? Having the education will not hurt and provide a number of benefits, especially when understanding the financial and business parts of the field.
Getting a degree gives agents a good foundation in the basics of buying and selling real estate, allowing them to have more information about the properties, mortgages, interest rates, and staying on top of the latest trends.
On the other hand, having a degree will also make the agent more attractive to real estate brokerage firms. Since working with a brokerage or broker is required to practice real estate, potential agents must fulfill the educational requirements of top brokerage firms. You can skip the academic side or not. It is up to you.
3. Licensing and Requirements
There are four easy steps to the licensing process. Below are the steps to follow if you are thinking about becoming an agent in North Carolina, as well as the license qualification requirements for doing so.
- Prelicensing Course: Take an approved prelicensing course that is offered through certified Education Providers as well as pass the End-of-Course Exam
- Background Check: Before submitting a license application, order online at NCRECCHECK.com for a background check vendor to provide the report.
- License Application: Online application at NCREC.gov that pairs with PRE course info and background report. There is a $100 application fee.
- License Examination: Schedule a testing appointment with Pearson VUE. Score 75 on the National and state sections within the same 180-day Exam Eligibility Period.
To qualify for an individual real estate broker license, an applicant must...
- Be at least 18 years old
- Be a United States citizen, a noncitizen nation, or a qualified alien under federal law or have a lawful presence in the US and be authorized to work in the US in the real estate brokerage field
- Have a social security number
- Satifisfy is one of the Education Qualification options
- File a complete application with a fee
- Pass the tow part real estate license exam
- Satifiy the Commission that the applicant possesses the required character for licensure
4. Best Majors for Real Estate Agents
Even though having a college degree to practice real estate is not required, if you want to pursue a degree, here are some options that can give you an advantage over the competition. These degrees will help you as an agent grow and improve specific skills to dominate the real estate industry and stand out.
Business Administration
Real estate professionals looking for a major that covers all aspects of business should consider this degree. This very versatile area teaches you the ins and outs of building a successful business and the tools to create a strategic business plan to dominate the market and practices.
Marketing
Learning how to market yourself and your brand is one of the essential things in real estate, so having a marketing degree will only help you deliver the proper ways to market real estate and utilize social media channels and other skills. In real estate, it is all about how you promote things and market yourself as well as priorities, so understanding the best strategies can only help your career and business.
Communications
Knowing how to communicate is a powerful skill for an agent. A communication degree gives you practical information and can help professionals research and analyze data to conduct local market research and relationships with potential clients and firms.
Finance
Understanding finance is a great way to get an extraordinary brokerage. Knowing how to grow your business and the opporintites will help you understand the numbers side of everything to have an advantage over others.
Graphic Desing
This may not be the most popular option, but since marketing, like websites, mailers, social media, and other things, are used so much in real estate, having a graphic design degree will only add benefits, especially when it comes to photos and editing to upgrade your brand and business.
Accounting
Learning how finances work in a business on a day-to-day basis is not very easy, so having an accounting background can teach you all the things you need to know regarding the financial part of the business. Being an agent with accounting experience will increase your value in the eyes of your brokerage while helping you understand the money flow, too.
Entrepreneurship
Since real estate sells things, having entrepreneurial experience may be very helpful. For those who struggle with it, this degree will only sharpen your skills. Your level of success in this industry is how dependent you are, how you work, and your dedication to improve. If you want to dominate this industry and market, master little things only to improve your business. And watch it thrive.
5. How to get a Real Estate License with or Without a Degree
Whether you choose to get a real estate degree to become an agent or not, the steps to getting a real estate license remain the same. There are general requirements to start a new career, regardless of the state that you live in. Most states allow real estate schools to offer online courses.
As stated before, becoming an agent is an easy step-by-step process. Depending on your education route, you start with that to get your hours, prepare and take the real estate exam, apply for your license, background check, and pay the fees, and then get your license, join a brokerage, and launch your career.
So, the short answer is no; a college degree is not a prerequisite to becoming a real estate agent. Instead, you are required to complete pre-licensing courses to fulfill the educational component of the real estate industry training. However, be aware that every state is different. Understanding the overall process may help you choose courses or a degree to obtain your knowledge in this industry.
Methodology
We used information and data from different sources and our own data to determine if you need a college degree to be a real estate agent. There were various data to use, so we put them together to make a guide on what you should know about becoming an agent and if you need a degree.
Above are a few sources that we used to gather most of our information about real estate and whether you need the education or not.
FAQS
What degree is best for a real estate agent?
To become a real estate agent, you do not need a degree, but having one will only help you improve skills, gain more knowledge, and succeed as an agent in the competitive industry. The best degrees for education are in marketing, finance, accounting, business administration, and communication.
Is a college degree worth it for a real estate agent?
In most cases, some people think having a college degree is optional. However, this is an opinion, and it depends on who you are and your knowledge. Many firms and brokerages may choose someone with a degree over someone without, so it counts.
Is it hard to become a real estate agent in North Carolina?
It is essential to understand that becoming a real estate agent is not an easy process. Your education will need much work to comprehend all the material and prepare for the exam.
Is it hard starting out as a realtor?
Working as a realtor or broker can be fulfilling and financially rewarding but not easy. A real estate career requires business skills, promoting yourself, tracking leads, handling burdensome paperwork, providing customer service, and so much more.
Do You Need a College Degree to Be a Real Estate Agent? - The Bottom Line
It is not mandatory to have a college degree to become a real estate agent. Instead, you will need to complete pre-licensing courses to fulfill the educational requirements of the real estate industry training. However, it's essential to keep in mind that each state follows a different set of rules.
Initially, real estate may seem like a solitary profession. Once you have your license, you may feel lost and unsure of how to acquire your first client. Regardless of whether you're a new agent or have been in the industry for years, you can always take action to expand your business.
Several other factors contribute to being a successful real estate agent. It is essential to know the process of becoming an agent if you are interested in pursuing a career in this field. Also, there are various questions you can ask buyers to ensure a successful home purchase.
If you are considering moving or selling, contact us or visit our website. Our team at Raleigh Realty is here to help you with any home buying or selling needs.
Ryan Fitzgerald
Hi there! Nice to 'meet' you and thanks for visiting our Raleigh Real Estate Blog! My name is Ryan Fitzgerald, and I'm a REALTOR® in Raleigh-Durham, NC, the owner of Raleigh Realty. I work alongside some of the best Realtors in Raleigh. You can find more of my real estate content on Forbes, Wall Street Journal, U.S. News and more. Realtor Magazine named me a top 30 under 30 Realtor in the country (it was a long time ago haha). Any way, that's enough about me. I'd love to learn more about you if you'd like to connect with me on Facebook and Instagram or connect with our team at Raleigh Realty. Looking forward to connecting!
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