Education and Training to Become a Real Estate Broker or Agent

Education & Training

Currently, there are no educational barriers to becoming a real estate broker or agent. Although, it is recommended that one at least have a high school diploma or equivalent. In recent years, there are a growing number of young brokers entering the field, about 70%, have obtained bachelor’s degrees or have some college education. Although no formal higher education is required, having a college education in a business related field makes becoming acclimated to the work much easier. “College courses in psychology, economics, sociology, marketing, finance, business administration, architecture, and engineering are helpful.”(Top 100)

Education in business administration or management is available at many if not most public and private universities. Although many schools have business programs, obtaining a degree from a prestigious school can enhance career placement, experiences, and connections. The cost of a college education can vary drastically! A degree from The University of Massachusetts at Amherst Isenberg School of Management costs approximately $26,000 per year. In comparison a degree from the renowned Babson College, costs $59,000 per year. Admission to both schools is extremely competitive and one must show superb academic performance and community involvement throughout high school. Minimum required grade point average to be admitted to Isenberg as a freshman this past year was 4.1. There are many business programs available for a wide range of prices and skill sets.

Being a real estate broker requires some training and licensing. Every state requires you to be licensed by the state in which you are working. In order to obtain a license in Massachusetts “1. Prior to ...

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... The sole worst part about being a realtor is that income is based solely on commission, that means if you sell nothing you earn nothing. In addition to the work being highly technical and requiring a lot of business knowledge, the cost of being in business is extremely high. There is the cost of taking the classes, getting licensed, and annual realtor fees. You also have to pay for commuting cost, phone and internet bills, and the number one expense, advertising. A second downside of being a realtor is proficiency time. It can take years of dedication to long hours to become a successful realtor. But even then your wage is based on market activity. The complexity of being a realtor is a huge drawback. There is not enough time in the day for one to advertise and solicit, market, and manage sales, in addition to keeping up with general office obligations.