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Education alone does not make you successful. But, the right education sure can help.

By
Real Estate Broker/Owner with Cornerstone Business Group Inc 0225086119

A few days ago, Brenda Mullen, wrote a great blog called, "And just how hard was your licensing exam?"  It was a great blog, and it got me to thinking about education.  On a side note, Brenda would be a great friend to have within shouting distance if you ever code blue.  

I thought my original salesperson licensing exam was a challenge.  The broker exam wasn't quite as challenging, but I had a lot more experience by then.  So, it seemed easier.  Ironically, neither one of those exams will make you a great Realtor.  Education and experience will make you better in this business.  But even there, not all education will make you successful.

I love to learn, and I have earned four Master's degrees in my adult life. I'm just shy of my PhD, and I can tell you from experience that academic accomplishment alone is not the answer to being a good to great Realtor.  Not at all. 

Actually, there is the belief in our country that a good education will lead you to riches, or at least financial security.  If that were true, college professors would be the richest people in this country.  We know that's not true.  Bill Gates is one this country's wealthiest members, and he is a college dropout.  It's not education alone.  It's the type of education.

I have been privileged to have had so many "think outside the box" people in my life who have educated me.  In all of my academic accomplishments, I can tell you that only snippets of my MBA actually benefit me as a Realtor.  If I didn't have that degree, it wouldn't matter.  What I know about real estate, I learned from experts in the field and creative investors.

If you don't have a college degree - don't let it bother you.  Obviously, I'm a big proponent of formal education.  I think it's good.   If you want a degree, I encourage you to get one, but the education that will make you a smarter Realtor can be learned through books, seminars, web-inars, brokerage training, colleagues, forums like Active Rain and others.  Pick the brains of the most successful agents in your office, area or your state. 

Read books by successful agents.  Gary Keller writes great books on real estate sales.  Robert Allen's books, Nothing Down and Creating Wealth, can help you learn to think outside the box when it relates to real estate.  Here's a rule of thumb that I use when picking out a book - if the first couple paragraphs don't grab me, the odds are against the rest of the book grabbing me.  I want to learn.  If I don't learn anything in 10 pages, I begin to wonder if the next 200 will be any better. 

Good writers catch you early.  On the flip-side, some books, conferences, seminars or web-inars that will help you may not be 100% full of info that you need or want.  Here's my best advice when you're in a learning environment, "Have as much sense as old cow.  Eat the hay and leave the sticks."  One of my college professors said that to me many years ago, and I've learned to ignore stuff that wouldn't benefit me, and I have kept what would.

There are a wealth of opportunities out there to learn.  Many don't cost a cent.  Many great lessons come from books or other professionals who are willing to share.  Active Rain is a great resource.  Learn where the education has an immediate impact.  For instance, "Put part A into slot B" equals a table.  That's immediate learning.  The real estate profession has those same types of learning opportunities.  Find them.  And remember, gold is seldom lying on top of the ground.  Learning is like treasure hunting, it takes some work. 

 

Comments (56)

Brian Madigan
RE/MAX West Realty Inc., Brokerage (Toronto) - Toronto, ON
LL.B., Broker

Mike,

 

You are quite right. Education is very good from the perspective of learning from other people's mistakes, but you really need the experince of being and acting as a realtor to get you to the next level. They both go "hand in hand".

 

Brian

Oct 19, 2011 01:20 AM
Silvia Dukes PA, Broker Associate, CRS, CIPS, SRES
Tropic Shores Realty - Ich spreche Deutsch! - Spring Hill, FL
Florida Waterfront and Country Club Living

Hi Mike, learning certainly does take some work and then it takes some more work to do something with the things you have learned.  Personally, I think that learning is a lifelong experience and whether formal or informal, there are learning opportunities every day all around us!

Oct 19, 2011 01:36 AM
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Mike,  Great post and so right on target.  It is what you do that counts.  I love it when some people dropout and still make something of themselves.

Oct 19, 2011 03:55 AM
Justin Dibbs
Fairway Independent Mortgage - Ashburn, VA
Mortgage Advisor

That's a great way to put it.  I do know several VERY successful Realtors that don't have college educations.  There are many, many places to get knowledge and not all of them are schools.

Oct 19, 2011 04:04 AM
Raiza Schwartz
West USA Realty - Ahwatukee, AZ
CDPE

I thought my B.A. was all I needed and the rest would fall into place.  To tell you the truth, I will never take my education for granted, and I consider myself a lifelong learner.  I must state that the most brilliant sucessful agents, and business owners that I know attain no formal education.  They think outside the box as you mention.  Personally, I also like Garly Keller's books, in addition to some that encourage me emotionally; Four Agreements, and The Secret are just a couple to mention.

Oct 19, 2011 05:34 AM
Tammie White, Broker
Franklin Homes Realty LLC - Franklin, TN
Franklin TN Homes for Sale

Mike, it just seems that everything you write has such great advice. Education doesn't do you any good if you don't put it to use. The best lessons in real estate are learned while doing the job.

Oct 19, 2011 06:23 AM
Barbara Todaro
RE/MAX Executive Realty - Happily Retired - Franklin, MA
Previously Affiliated with The Todaro Team

Hi Mike....what a great post.....there are very well educated people in real estate who just can't get off the blocks....education is very important but if you have this knowledge and don't know how to apply it, it's useless....

Oct 19, 2011 07:11 AM
Former Agent
None - Adak, AK

Hi Mike.  Great post.  I do think that the right education can help.  And, as you said, nothing is more educational than the process of doing.  At the same time, there is a level of confidence (not arrogance) that comes with having higher education; perhaps, only from having of a goal and achieving it.

Oct 19, 2011 08:12 AM
Jeff Trevarthen
Veritas Real Estate Corporation - Campbell, CA

I'm totally the same way.  I have an advanced degree and I've learned much more through experience than in any college classroom or textbook.  I also think that failure is such a part of learning.  

Oct 19, 2011 08:13 AM
Mike Cooper, Broker VA,WV
Cornerstone Business Group Inc - Winchester, VA
Your Neighborhood Real Estate Sales Pro

It really is, Karen.  I love to learn. 

Jon, that is so true.  I love to glean from people in the industry (and in other environments).

Eric, that's a good insight.  Inspiration is great and needed, but how-to's for the ought-to's are a must.

Absolutely, Gary. 

There you go, Praful.  Another great example.

Lloyd, it was like eating potato chips.  Once I got started I couldn't get stopped.  8-)

Good analogy, John.

Exactly, Angle R.

You bet, Melissa.

That's right, Priscilla.  Thanks for commenting.

Cheryl, I love the Dummies books.  What does that say about me?  Hmmmmm?

Absolutely, Jordan.

Sham, you are so right.  I am more comfortable learning because of my college work, but even without it, I think I could have made it.  I'm glad I have it, though.

 

Oct 19, 2011 10:54 AM
Mike Cooper, Broker VA,WV
Cornerstone Business Group Inc - Winchester, VA
Your Neighborhood Real Estate Sales Pro

That was me, Scott.  I think I'm about done, but who knows?

You mean my basket-weaving 101 won't help me negotiate better.  Darn professor lied to me!  You are so right, Bill.  It's great having a degree, but you could suceed in this business without it.  It just takes the right kind of learning and experience. 

Charlie, I'm always looking for nuggets.  Most of us have heard enough training that we know what we're doing.  It's those nuggets that push us to the next level.

I know exactly what you're talking about, Gabe.

I know that same group of people, Michael.  Actually, I married one.  8-)

Thanks, Cheryl.  I've always thought we should start teaching more field learning in college and less book specific learning.  Many Master's programs are moving that way.  You still need that on the job time though.  It all works together.  Thanks for the kudos.

Like a glove, Brian.

Silvia, I'm a big learning fan.  I love to see people get inspired to learn.  When my students "get it" it really excites me because I know right then they will be able to use the material.  It's all good!!

They make great stories, don't they, Will?

So true, Justin. 

Agree, Raiza.  Learning that works is what's important.  I appreciate the fact that you don't take your education for granted.  It's always a privilege to have it.  Life long learning becomes the cherry on the cake when you have a good foundation.

Thanks, Tammie.  I appreciate your extra kind words!!

That's true, Barbara.  It takes more to make you a great agent. 

I like that, Aimee. 

Oh yeah, Jeff. 

 

Oct 19, 2011 11:09 AM
Evelyn Kennedy
Alain Pinel Realtors - Alameda, CA
Alameda, Real Estate, Alameda, CA

Mike:

One can have a long list of degrees and not understand the simplest thing.  But I believe in constantly trying to educate myself because gaining knowledge is important to me.  That's the reason I love ActiveRain.  There are so many people who graciously offer information to us all.  

Oct 19, 2011 11:39 AM
Michelle Francis
Tim Francis Realty LLC - Atlanta, GA
Realtor, Buckhead Atlanta Homes for Sale & Lease

Mike, 

Amen!  I have wonderful degrees.  They don't make me a better Realtor (as they were not directly related to real estate.)  However, they have been stepping stones along with my life experiences and family I grew up in who were in Real Estate as true entrepreneurs.   I'd give Georgia Tech back my Master's degree before I'd give up my family learning experiences.... and the GT experience was awesome.

I still love to take national Real Estate Classes, don't ever think I'll stop learning.

All the best, Michelle


Oct 19, 2011 11:58 AM
Mike Cooper, Broker VA,WV
Cornerstone Business Group Inc - Winchester, VA
Your Neighborhood Real Estate Sales Pro

Absolutely, Evelyn.  There are a lot of brainy people here!

Me neither, Michelle.  I love learning.  I am grateful for my degrees, but what I've learned that helps the most has been away from formal education. 

Oct 19, 2011 12:20 PM
Loreena and Michael Yeo
3:16 team REALTY ~ Locally-owned Prosper TX Real Estate Co. - Prosper, TX
Real Estate Agents

The "formal" education I got from my real estate pre-requisite classes are great, but it didn't help make me successful (in terms of income generating) per se. To date, there's 2 classes that helped made me be a better Realtor. Since then, I haven't found one that were so profound. Nevertheless, I'm still searching!

Oct 19, 2011 02:45 PM
Mike Cooper, Broker VA,WV
Cornerstone Business Group Inc - Winchester, VA
Your Neighborhood Real Estate Sales Pro

Loreena, I keep hearing this.  It makes me wander, "What can we do to create those kinds of classes that really impact Realtors longterm."  Maybe my next project.  8-)  Have a great Texas day!

Oct 20, 2011 12:24 AM
Mike Engeman
Momentum Realty Group - Irvine, CA
Irvine Real Estate Specialist

Mike,

 

I really enjoy reading your posts.  It sounds like you have a plethora of knowledge and experience.

Oct 20, 2011 08:40 AM
Mike Cooper, Broker VA,WV
Cornerstone Business Group Inc - Winchester, VA
Your Neighborhood Real Estate Sales Pro

Mike, I've been involved in real estate from an investor side and a broker side.  The two combined have helped me immensely.  I have also been very fortunate to have had many great teachers.  That's really what this blog is about.  A good education may not be formal, but it will definitely be functional!

Oct 20, 2011 08:43 AM
Paula Hathaway, REALTOR, LBA
Douglas Elliman Real Estate - Southampton, NY
...A Local Expert in all The Hamptons

Mike: This is a great point you are making--just work hard and you will get the business that you need. It really is simple. I went further in my career in retailing than anyone else in my peer group and they all had degrees...educaton that is gleaned through the available webinars, seminars and other gatherings are tremendous for real estate professionals, but no one can beat the experience you get from the "School of Hard Knocks"...thanks for putting it so well! 

Oct 21, 2011 12:46 AM
Mike Cooper, Broker VA,WV
Cornerstone Business Group Inc - Winchester, VA
Your Neighborhood Real Estate Sales Pro

Thanks, Paula.  I hope you're off to a great day!!

Oct 21, 2011 12:51 AM