Recently, a young Real Estate agent asked me about Buyer Representation, Investing in Real Estate and Higher Education; i.e.; Credentials, Accreditations, Designations and College.
I’m a strong proponent of higher education, matriculated or otherwise. To make yourself more valuable and diverse as a real estate professional, you should schedule a portion of each day to making yourself an expert in the field of real estate, from historical information to current and future information. Buyer Representation is my niche; it’s still ahead of the curve thinking. You’re a true professional when you can take in all of today’s relevant data and apply it towards forecasting.
I’ve been a Buyer’s Rep, Real Estate Investor, Developer and licensed Broker since 1985. I conservatively observed the 1987 market crash, (I was still new to Investing), watched the 2006-7 bubble slowly pop, (I was prepared), but with the data available since then, like other skilled professionals, I was able to easily forecast this market a year ago and next years market, today. When you can forecast a market you can invest wisely; gambling that Real Estate will always increase in value is “old school,” and archaic; it will increase, but will it increase before your debt service wipes out your profit?
Now, to specifically answer your question, if you’re five years into the business and plan on any aspect of real estate as your future means of income, learn everything you can about your field. I’ve found that I will occasionally be asked questions that I’ve never had to deal with in business, but remember the information from studying for my initial licensing test. My advice to you is the same as I give to my three college attending children; learn as much as you can, there’s no great rush into the current job market and with unemployment still very high, you have to have credentials that stand out. I like to see, NAR accreditations, designations and college degrees when interviewing new agents. Real Estate related master’s degree are few and far between; get one if you can, it will broaden your horizons and open up your options and opportunities.
The bottom line is; “learn” everything you can, knowledge and superior credentials will never hurt you.
William N. Bodouva, Jr., ABR*, SFR, e-PRO, RETC, Licensed Real Estate Broker & Owner, NAR Buyer Representative
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