11 Things You Won’t Learn in a RE Licensing Course
Every year, people go to my (hers) website for how to get a real estate license. Among others, I usually get calls from first-time homebuyers who plan on getting a license so they don’t have to pay real estate commissions when buying a house.
Misconceptions
Some believe they must work through a real estate company to get a license.
They don’t! But, help with navigating the licensing system is just a recruiting tool for the national real estate brands.
Most of the questions I get about licensing involve cost. People want to know the lowest-cost option for obtaining the required hours of instruction.
We make this real estate thing look easy, and the way people talk about it, “getting their real estate license,” it’s as if there is a license out there for everyone just waiting to be snatched up.
What R.E. Companies Don’t Tell You!
Most people would be surprised to learn that getting a real estate license has little to do with selling houses. Often, new agents take many hours of instruction and pass the test without knowing how to write a contract.
Here are 11 things that they
don’t tell you in real estate licensing school:
1. A license isn’t the same as knowing how to sell houses.
2. Even though new licensees can charge the same amount as the pros, they make less.
3. Much training for new agents at real estate companies centers around promoting the company brand.
4. Real estate companies generally don’t give agents clients or even leads for free. Don’t forget to ask about the referral fee you may pay the company before accepting the client.
5. Selling homes is easier than finding clients who’ll let you sell a home.
6. Some real estate companies make the most of their money by charging their agents for things that agents don’t need or want.
7. Some friends and family will avoid you after you get licensed as they secretly plan to work with another agent.
8. Taxes are not taken out of commission checks; agents must set money aside to pay their own taxes.
9. Being likable is far more critical than competence.
10. A lousy client is a special hell worse than the worst boss.
11. Real estate agents are targets for scammers and nut jobs too.
Get the Lowest Interest Rate, Fees, and Fastest Service
YouTube – Straight Talk Lending – Daniel Dobbs
1:24 U.S Treasury Dept. Warns Against Online Lender’s Steering and Kickback Schemes
1:58 Rate Platforms and Online Lenders Skim Buyers’ Private Data for Resale to Data Brokers
3:47 Comparing the 4 Most Common Types of Home Loans
4:29 Applying for a Mortgage is Easy – Funding and Closing Escrow Smoothly – Isn’t
5:23 Avoid These Other Mortgage Traps
5:33 Mortgage Brokers – Good for FHA, VA, – Fannie Mae Loans and Buyers with Lower Credit Scores
6:59 Credit Unions – Good Rates and Service but Require Membership – Higher Credit Scores – Self-Employed / 1099 Buyers Need Not Apply
7:37 Banks and FinTech Lenders –Banks “Preferred Clients” Get the Lowest Rates – FinTech Gets the Rejects
9:27 News Events That Drive Interest Rates
9:40 These 10 Data Points Determine a Borrower’s Rate
10:21 Never Pay Points or Junk Fees
10:54 Reviewing the “Truth in Lending” Disclosure
11:15 Exposing a Lender’s Junk Fees (Section 2a)
11:32 Reviewing the APR Calculations
11:50 Before You Choose a Lender – Ask These Questions\
12:28 Demand These Service Levels
That’s a Wrap
I’m the Broker for Mutual Home Mtg.
Below is my cell number – My Team and I pick up the phone!
Daniel Dobbs (.org)
Mutual Home Mortgage
500 S. Kraemer #165
Brea, Ca. 92821
Cell: 949 250-3981
