A part-time real estate career has been a popular choice for retired or semi-retired Baby Boomers for a long time. There are a lot of great reasons for this including the fact that you get to make your schedule, be your boss, and earn a lot of money.
Senior adults make great real estate agents because of their personal and professional networks plus their own experience buying, owning, and selling homes. Real estate success is often linked to a person’s contacts and skills they’ve learned and developed. Baby Boomers have an advantage over younger people because they’ve had a lifetime to develop these skills and make contacts.
The Benefits of a Real Estate Career for Baby Boomers
There are many benefits for Baby Boomers with a real estate career. As a senior you get to enjoy becoming your own boss, making your schedule, and even exploring the different paths a real estate licensure has to offer. However, that’s not all.
The classes and licensure are much more affordable than a college traditional degree. You also have the option of attending an in-person or online school. The startup costs are minimal, and you have the potential to earn unlimited income.
What to Expect During the Real Estate Licensing Process
All states require pre-licensing courses that are required before you take the licensing exam. Each state has its laws on how many courses are needed and the test content for their location. In general, about 75-90 hours of courses are required. However, check your state laws to determine your course hour requirement. Next, you’ll need to decide where to take your courses.
Cost Estimates for Pre-licensing for Real Estate
Costs will vary by school. However, real estate students can expect to spend less than $1,000 for their education and license. When you compare that to the cost of a typical two or four-year degree, it opens your eyes. Naturally, there will be expenses that accrue during your real estate career. These expenses are often offset by the income you make once you have your license.
Real Estate Classes
A real estate career requires training and licensure. Luckily, it doesn’t cost nearly as much as a traditional degree or program like it does for other fields.
There are two types of classes: online and in-person. Online programs are perfect for those who currently work and don’t have as much flexibility in their schedule. This path lets you work around your schedule. Many online courses require video lectures and a lot of reading. However, it does offer the benefit of work at your pace, so you can shorten the time it takes to finish. It won’t require you to learn a new host of computer skills either. You can get by with just the basics.
In-person classes are best suited for those who thrive in the traditional classroom setting and have the time to devote to it. These types of classes do run on their schedules and are often limited. In smaller towns, you may not even have access to attend or must wait until certain periods of the year to sign up. If you do choose an in-person program, don’t wait any time to register.
Why Choosing the Best School is Important
Be sure you choose a school that has accreditation and has a track record of success. Identify institutions that are ARELLO and IDECC certified. These accreditations provide you with the assurance that you’re getting proper education and training.
You also want to check out the schools that guarantee students will pass the exam on the first try. Online programs often provide live support, which offers you the chance to ask questions and clarifications. The best schools want their students to succeed.
Exam Prep Packages
The area of real estate law is vastly large. It can become overwhelming when studying all the information. Exam prep is designed to help you pass your test. Many students that don’t use an exam prep often don’t pass the first time because of how dense the material is. Exam prep classes provide you with an advantage because of the material it focuses on.
Final Thoughts
Many Baby Boomers aren’t thrilled at the prospect of starting a new career after they’ve worked most of their lives. They may feel it’s time they fully retire. However, they may not have the luxury to do so or maybe they still need to work part-time.
Some jobs won’t allow fewer hours worked. A real estate career can combat this. You get to make your own hours, use the skills you already have, and potentially make a lot of money without much investment in your education.