Becoming a Real Estate Agent in Philadelphia and Its Suburbs: A Journey Worth Taking
Hey there, future real estate agent! If you're reading this, you're probably considering diving into the world of real estate in the vibrant region of Philadelphia. Let me tell you, it's an adventure like no other. From the historic streets of Philly to the charming suburbs, there's a story behind every brick and a dream within every home. Ready to embark on this journey? Let's break it down, step by step.
Getting Licensed: Your Golden Ticket to the Real Estate World
Steps to Get Licensed:
- Education: Think of this as your initiation into the real estate realm. Before you can challenge the state and national exams, you need to complete a pre-licensing course. 75 hours of pre-licensing coursework.
- Examination: This is your moment to shine! Once you've got your education down, it's time to tackle the state licensing exam.
- Application: Passed the exam? Kudos! Now, apply for your real estate salesperson license and get that badge of honor.
- Background Check: Need to be clean - Pennsylvania likes to ensure its Realtors are as genuine as their cheesesteaks.
- Sponsorship: To activate your license, you'll need a licensed Pennsylvania real estate broker to vouch for you. Think of it as finding your Dumbledore in the real estate world. I can be your sponsor to eXp Realty- which is probably why you are really reading this article.
In-Person vs. Online Classes:
- In-Person Pros: Direct interaction with instructors (who are often real estate Yodas), networking opportunities with fellow Padawans, and a structured learning environment.
- In-Person Cons: Less flexibility, potential commute (but hey, more podcast time!), and set schedules.
- Online Pros: Learn in your PJs, flexibility to juggle other commitments, and often more pocket-friendly.
- Online Cons: Miss out on classroom banter, requires a strong coffee and self-discipline, and the occasional Wi-Fi tantrums.
Resources for Classes:
- Polley Associates- A million years ago I did my courses through Polley and did them online. I had to go in to take the coursework final exams in the classroom. They have always been fantastic to send transcripts whenever I’ve needed them.
- Real Estate Express https://www.realestateexpress.com/ - The Hogwarts for budding realtors.
- Kaplan Real Estate Education https://www.kapre.com/ - Think of it as your real estate Yoda.
- The CE Shop https://www.theceshop.com/ - Where real estate dreams take flight.
Choosing the Right Brokerage: Why eXp Realty, LLC Feels Like Home
The Importance of Mentorship:
Starting out can feel a bit like being thrown into the deep end. That's where a mentor comes in. At eXp Realty, LLC, I've got your back. As your mentor and sponsor, I'll be your guiding star, helping you navigate the maze of contracts, negotiations, and those first-time jitters.
Solo Agent vs. Team:
- Solo Agent Pros: Be the captain of your ship, enjoy flexibility, and relish the full fruits of your labor. Keep more of your commission.
- Solo Agent Cons: Wearing all the hats can get tiring, no backup for scheduling can lose clients, motivation may get lost, the occasional loneliness, and the weight of responsibility.
- Team Pros: Share the load, have a built-in support system, get potential leads you never would have otherwise, stay motivated, healthier schedule, less expenses out of pocket, and benefit from diverse skill sets.
- Team Cons: Sharing the pie, potential for too many cooks, and less autonomy.
Why Choose eXp Realty, LLC:
eXp Realty, LLC isn't just a brokerage; it's a family. With a cloud-based environment, you're connected to top professionals worldwide. And with tools that make your job a breeze and me as your personal guide, you'll feel right at home. Enjoy a comfortable and transparent commission split and have multiple opportunities to receive leads.
Key Concepts Every Aspiring Realtor Should Know
Broker License vs. Salesperson License:
- Broker License: This is the big league. It allows you to own or manage a real estate firm. Think of it as being the headmaster of your real estate school. You must have done 50 or so transactions and meet other minimums to get this license. Most people at the beginning say they will get their broker license but many change their mind after experience as they realize being a broker is boring admin and compliance work and handles putting out fires.
- Salesperson License: This is where most of us start. It allows you to work magic in real estate, but under the watchful eye of a licensed broker. You are ultimately practicing real estate under your broker’s license for legal reasons. You must hang your salesperson license under a broker of record. I make this very simply for you when you have me as your sponsor at eXp!
What Real Estate Can a Salesperson Practice?
As a salesperson in Philly, you can do it all - list properties, work with buyers, handle leases, negotiate contracts, and more. But remember, all these activities should be under the guidance of a licensed broker. They're there to help you shine! Not every brokerage does property management or allows for it. As an agent who did do property management in the past- it is a thankless and painful position, it may not be a deciding factor on where you work. You can also practice commercial real estate but keep in mind that you are responsible for knowing and understanding whatever you are practicing! People get sued when they don’t stick with what they know. It may be beneficial to team up with an experienced agent like myself for your first few deals to limit your exposure to legal repercussions.
Embarking on a real estate career in Philadelphia is like starting a new chapter in an epic novel. There's excitement, challenges, and a whole lot of growth. And while the journey is yours to make, remember, you're not alone. With eXp Realty, LLC and a mentor like me by your side, every challenge becomes an opportunity, and every house becomes a home. Ready to start this adventure? Let's turn the page together. Learn More Here.
