Do You Need College For Real Estate? Is It Worth It?

Do You Need College for Real Estate?

Real estate is a lucrative and rewarding career that offers many opportunities for personal and professional growth.

But do you need a college degree to become a real estate agent or pursue other related jobs in the industry?

The answer depends on several factors, such as your state’s licensing requirements, your career goals, and your level of education and experience.

an image of real estate school
Real estate school | VanED

 

In this article, we will explore the pros and cons of getting a college degree for real estate, the different types of degrees available, and some alternative ways to learn the skills and knowledge you need to succeed in this field.

Licensing Requirements

The first thing you need to consider is whether your state requires a college degree to obtain a real estate license.

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College to be a Real Estate Agent | InvestFourMore

Most states don’t have this requirement, but some do.

For example, Texas requires 180 hours of approved real estate courses, which can be equivalent to an associate degree.

New York requires 75 hours of pre-licensing education, which can be waived if you have a bachelor’s degree or higher in real estate or a related field.

Check with your state’s real estate commission or department to find out the specific requirements for your area.

Career Advantages

Even if your state doesn’t require a college degree to become a real estate agent, having one can still give you some advantages in the job market and in your career development.

Some of the benefits of getting a college degree for real estate are:

  • Competitive edge:

A college degree can help you stand out from other candidates when applying for jobs or seeking clients. It can also show your professionalism, credibility, and commitment to the industry.

  • Knowledge and skills:

A college degree can provide you with specialized knowledge and skills that are relevant to real estate, such as business administration, marketing, finance, law, economics, data analysis, and management.

These can help you perform better in your role and offer more value to your clients.

  • Networking opportunities:

A college degree can help you build connections with other professionals in the industry, such as instructors, classmates, alumni, mentors, and employers.

These can help you find leads, referrals, partnerships, and career opportunities.

  • Earning potential:

A college degree can help you increase your income potential by qualifying you for higher-level positions or certifications.

According to payscale.com , agents with a bachelor’s degree earned an average of $51,925 per year, while those with a master’s degree earned an average of $62,500 per year3.

Degree Options

If you decide to pursue a college degree for real estate, there are several options available at different levels and fields.

e a Real Estate Agent Without a Degree?Key Real Estate
Real Estate Agent Without a Degree?Key Real Estate

Some of the common degree options are:

  • Associate degree:
  • An associate degree can serve as an introduction to a real estate career.

You may pursue this degree after completing your high school education or earning a General Educational Development (GED) diploma. An associate’s degree takes around two years to complete.

Some schools offer an Associate of Arts degree in real estate.

Alternatively, consider real estate-related coursework such as business law, property management, legal aspects of real estate and real estate principles.

  • Bachelor’s degree:

A bachelor’s degree in real estate or a related field can provide you with specialized knowledge and skills.

Courses focus on topics like business administration, marketing, finance, real estate law, the economics of land use, market data analysis and management and accounting concepts.

A bachelor’s degree takes around four years to complete.

  • Master’s degree:

A master’s degree in real estate or a related field can help you advance your career to higher-level positions or leadership roles.

Courses focus on topics like real estate development, investment analysis, portfolio management, financial modeling, urban planning and sustainability.

A master’s degree takes around two years to complete after earning a bachelor’s degree.

Alternatives to College

If you don’t want to or can’t afford to get a college degree for real estate, there are other ways to learn the skills and knowledge you need to succeed in this industry.

Some of the alternatives to college are:

  • Online courses:

Online courses are convenient and affordable ways to learn about various aspects of real estate.

You can find courses on platforms like Coursera , Udemy , edX , Khan Academy , and others.

Some courses may even offer certificates or credentials that you can add to your resume or portfolio.

  • Books and podcasts:

Books and podcasts are great sources of information and inspiration for real estate professionals.

You can find books and podcasts on topics like sales techniques, marketing strategies, negotiation skills, market trends, success stories, and more.

Some examples of popular books and podcasts are The Millionaire Real Estate Agent by Gary Keller , The Book of YES by Kevin Ward , Think Like a Freak by Steven D. Levitt and Stephen J. Dubner , BiggerPockets Podcast , Real Estate Rockstars , and The Tom Ferry Podcast .

  • Mentorship and coaching:

Mentorship and coaching are effective ways to learn from experienced and successful real estate professionals.

You can find mentors and coaches through your network, your firm, your association, or online platforms like Zillow Premier Agent , Real Estate Express , and Buffini & Company .

Mentors and coaches can offer you guidance, feedback, advice, and support throughout your career.

Conclusion

In conclusion, getting a college degree for real estate is not a necessity, but it can be a valuable asset.

A college degree can help you meet the licensing requirements in some states, gain a competitive edge in the job market, acquire relevant knowledge and skills, expand your network, and increase your earning potential.

However, if you don’t have a college degree, you can still succeed in real estate by taking online courses, reading books and podcasts, and seeking mentorship and coaching.

Ultimately, the decision to get a college degree for real estate depends on your personal and professional goals, preferences, and circumstances.

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