Real Estate Broker Schools: Basic Requirements and Guidelines in Choosing the Right School

At a short glance, you can say that it is not practical to invest time and resources in a real estate broker school, and to think that you will be able to earn substantially in this market today. This is considering that the United States is on a mortgage crisis since the end of 2007; 10 percent of the American population is jobless, and bankruptcy courts are jam-packed with bankruptcy petitions. However, the income opportunity is very high in this business because people are selling their homes and commercial properties, and they want professional help to get it done. The bad economy has opened a window of opportunity for new brokers and agents. In fact as of 2010, while other companies are downsizing, retrenching workers are outsourcing their offices abroad, the statistical records of the US Department of Labor show that there is a 3.1 percent employment increase among agents and brokers. Furthermore, based on their occupational and statistical records, the national annual mean income of brokers and agents is $76,060. It is almost 60 percent more compared to the national annual median income of elementary and secondary teachers! If you are considering changing your career or finding other sources of income to make both ends meet, below are the career requisites and guidelines in choosing the perfect real estate broker school.

Basic Requirements:

Having an educational background in law, business administration, economics and finance is an edge if one wants to be a broker or an agent. However, it is not a requisite. Anybody who is 18 years old and above and is a high school graduate can enroll in a real estate broker school. Of course, to successfully practice the profession, you have to pass the state examination for brokers and agents and must have the required personality traits (friendly, neat and pleasing appearance, honest, have the ability to make good judgments, have substantial knowledge about the local area and more).

Guidelines in Choosing the Right School

Shopping for a good real estate broker school requires more than just browsing the yellow pages. There are basic standards to look for to insure success, and they are the following:

- Educational Needs vs. What the School Offers:

First, know what your career plans are, and look for schools that can best offer you a curriculum that will answer to your needs and prepare you for the future. If you wish to specialize in residential or commercial real estate investments, look for schools that will allow you to specialize and not just give you a generic educational training.

- School's Reputation:

Next, only enroll in schools that are duly accredited by the recognized accreditation board. Check if your preferred school is accredited by your state's Department of Real Estate and the Appraiser's Qualification Board. Also, you may join related online forums to get feedback and check if the school has a number of consumer complaints by reading reviews and reports found in your local Better Business Bureau and Consumer Affairs website. Talk to students and graduates of the school to get first hand information too.

- Budget:

Going to a school can make a big dent in your finances. Aside from the tuition fee, you also have to pay for your school supplies, board and lodging, transportation and many more. Money is an important consideration in choosing a school too. Pick a broker school that suits your budget. For lesser expenses, you may consider enrolling in an online study program. You may also apply under the Federal Student Aid Program. Just submit your application electronically if you are interested by visiting the FFSA website.

Enroll in your preferred real estate broker school now, and take advantage of the income opportunity that the real estate investing industry offers to brokers and agents today.

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