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Think it Through Before You Pay for a PRE-Licensing Class

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If you are setting your goal to become a real estate salesperson, please research carefully before you pay for classes. There are certain skills that will help you. Not having them will set you back until you acquire them. There is also the cost. It goes wayyyy beyond the cost of your salesperson class.

Licensing Item	Annual Cost	Monthly
Licensing Fee Mississippi	$110 every other year after 1st year
Errors and Ommissions	$240 (approx)	Rate varies by state
Sales Person Post Licensing class	in class or online
Membership Item
NAR Dues	$350 (approx)	$30 (approx prorated)
MLS Dues Fee varies by MLS	$360	$30 a month
Supra KEY-price varies by state. Several Choices	$160 KEY ONLY, no fancy stuff	$25 a month The phone w/MLS and supra

In the MS Gulf Coast; If your Broker is a NAR member, you must be one also. You must be a NAR/MAR/GCAR member to have access to MLS membership.

Try doing business without the Gulf Coast MLS. I am sure someone is doing it. If you run into anyone who is actively doing business in residential SF resales without the MLS, please tell him or her I would love to meet up. That person has to be truly exceptional.

Prioritized Add ons
Zip Forms
?Enhanced Listings for REALTOR.com?
Pay Per click?
Websites?
Other Media?
Signs

There are likely many little expenses we forget to tell you about. For 1 thing your cell phone bill will increase. You can also expect your gas consumptionto increase. We are not even talking Marketing on a shoe string, yet.

BE WARE: New Agents are prime targets for B2B sales pitches. Often the rationale is: "You'll have that paid for in 1 closing." This year it seems like great upgrades are running $19 a month. Well, how many $19 a month can you afford? OK, its supposed to give you a return on your expense. When?

Brokers are different as are salespeople. There are as many different employment agreements as there are Listing agreements. I recommend talking to several real estate agents and brokers before investing in your pre-licensing class.

Spend time reading, not blogging at agent online hang outs such as: Active Rain, Agents On Line, etc

Personally, a few of my must haves are:

Computer Skills+Be able to type and navigate between programs; or be ready to hire someone to do that.

Search+Demonstrate how as a prospective buyer (role play) you will search for your dream home online.

To gauge the depth of your interest I should be able to ask you questions from the Mississippi Association of REALTORS website and from the Mississippi Real Estate Commission website. Anyone with a true interest in real estate should have already found these sites.

Read Mississippi License Law or go to your own state's real estate commission website and be ready to answer some basic questions.

You do not have to be a home owner. I believe it helps.

What does REsearch and REal Estate have in common? :-)

Posted by Suzi Gravenstuk, REALTOR®, Broker on 01/21/2009 02:26 PM

Comments (6)

Real Estate Licensing in the Training Channel

mississippi sales person license, mls, member, realtor, nar, license law, home owner

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6 Comments on Think it Through Before You Pay for a PRE-Licensing Class

JAN

Hi Suzi, what a great heads up for new agents. You made me smile with the $19. Seems every time I turn around $19 falls out my pocket.

Suzi, I have to grin at your post, I remember my wife Cyndi paying for this and that, I ask her when was she going to see her return, it came slowly, and it seemed to never end as far as paying your dues for this and that. The old saying of having to pay ones dues, really stinks ya think? LOL

Keith, $19 is a special price tag this year. Really, the all time classic for higher ticket items though is, "You'll pay for that in 1, just 1 closing!"

Bob, your comment made me laugh, as well. So many people don't have any idea...what it costs us to do what we do; or, how many opportunities we have to "invest".

I confess. I am still upset about a young lady who told me she signed up for the class, didn't pass the first time and wanted to know if I could sponsor her. She should not have taken the class yet. THE class providers should at minimum give information similar to what I gave above before people sign up.

Please, if you are thinking of taking a real estate class, talk to an agent or broker and develop a plan beyond class--unless you just want to take it because its nice to have.

JAN

Great information. I have said for years there may be more money in Realtors than Real Estate.

JAN

Don forget, Business Cards, Office Supplies, Lunch with potential clients, Gas for your car, Cost for your CE classes - those ain't cheap, a bigger plan for your cell phone, a new fax machine, I could go on - but you get the idea.

Would I get into this business as a newbie now?? Well I might; but that's because I am bit nutty anyway! :-)

James, I definitely get the idea:-) . Thanks for helping. What skills did you already have that you find useful in real estate?

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