What can you do with a real estate license? Did you know that most real
estate agents do not even renew their real estate license? Yes. It is a fact.
More people get their real estate license year after year after year. But each year
only about 25% of the people that actually get a license actually renew it. Meaning,
most people have no idea what they really could do with a real estate license.
I'm going to share with you exactly how you can make money with a real estate license. Let's go.
So, let's talk about the real estate business and real estate agents. Real estate agents work in the
real estate business helping buyers and sellers find houses to buy or helping sellers sell their
houses. In many cases, as a real estate agent, if you represent buyers, you will find buyers that
are looking to buy a home, you'll look in the MLS, find houses that they like, you drive them in your
car and you help them find a house and write a contract on a house that they want to buy.
That is how a buyer's agent works. If you're a real estate agent that represents sellers,
you will find sellers that have houses that they no longer want that they want to sell.
You'll give them a presentation and then you'll put a sign in front of the home and then you'll
sell their home. But in many cases, as a real estate agent, you have to kind of decide,
do you want to work with buyers or do you want to work with sellers? Because as a real estate agent,
you receive a commission when a home sells. Whether you represent the buyer or the seller.
Real estate agents receive a commission when a home sells where they represent either the buyer
or the seller. For example, I got my license in 2006 in Georgia. That was the first license
that I got as a real estate agent. I've subsequently gotten my license in Texas
and I also have my license in Florida. I invest in real estate, so I found it very important for
me to get a real estate license because I needed to learn more about the business not necessarily
that I wanted to get commissions. But we'll get into that in a second.
But most of your real estate agents whether it's buyers or sellers that they're representing,
they are looking for a commission. They work for a broker. Many of you have heard of different
brokers like RE/MAX, Keller Williams, Century 21, EXP Realty and so forth. Those are brokers that
employ real estate agents. And then real estate agents go out and help buyers and sellers. So,
that's how the real estate game works. So, let me tell you how you get a real estate license so you
can start making money as a real estate agent. So, before you become a real estate agent and
you start picking up on those commissions you have to get a real estate license. Every single
state in the united states has their own process for getting a real estate license. Additionally,
as a real estate agent, you must be licensed in the state where you are selling houses.
I told you I started off with my real estate license in Georgia. That was in 2006. But then
when I started investing in Texas, I needed a Texas real estate license and now that I'm
in Florida, I need a Florida license. You have to have a license for every single state that you are
doing real estate transactions in. Now, if you're just investing, that's a separate issue. But I'm
talking about working as a real estate licensed agent. You have to have a license in that state.
So, in order to get your license, you're going to have to do courses. You're going to have to go to
real estate school and do something called pre-licensure education. Meaning, "pre",
you getting your license you have to do go to real estate school and complete the required number of
hours. You have to pass a test and then you will get your license and then you will put
your license with a broker. That's how that works. So, it's a kind of a long process in most
cases. And many people will get overwhelmed by the process and feel like this is way too difficult.
Additionally, I'm a smart girl. You guys know I have a master's degree from Penn State and
I also have an MBA and I went to all these great schools but I'm going to be very honest with you,
real estate school is difficult. It is not like this easy thing that just any dummy can go to
and get a real estate license. Now, you may have heard on me on my channel and say before
I don't think that most real estate agents are very smart. But that is because I don't think
most of them know about real estate investing. Not because I don't think they're smart in real
estate. Real estate school will teach you exactly how to work with buyers and sellers. That is the
primary thing that they teach you. They teach you about real estate but they teach you about getting
and working with buyers and sellers, okay? So that you know who your relationship is with. You know
who you represent. You know how to fill out the contracts and you know how to help them buy or
sell a home. It is not necessarily teaching you how to make money as a real estate agent. So,
just know that. It's very easy. You can look up on your state, what the required hours are and I can
also tell you it's going to cost you probably between 200 and 1,000 dollars for real estate
school. And it will also cost you another 200 to 1,000 dollars for the real estate exam for
your state. And then once you get your license in every single state, you will have to do continuing
education. So, there's a lot that goes into it. So, you need to make this profitable which is why
most people don't renew their license. They get their license, they're not making any money, they
don't want to pay the money anymore. Let me tell you how to avoid that mistake and make money with
your real estate license. So, as a real estate agent, as I mentioned before, you will mostly be
getting commissions. Meaning, if you represent a buyer and they buy the house and the home closes,
the seller usually pays a commission. So, when you find houses through the MLS which stands for
multiple listing services, that's where all of the real estate brokers put all of their properties.
And when someone buys a home that's usually what they're looking at. They're looking at
properties in MLS usually. If you go to websites like realtor.com or zillow.com or redfin,
those are usually pulling off from the local MLS's and those are the homes that are for
sale with agents. As a buyer's agent, when you represent a seller, you sell that house --boom,
you get a commission. Usually, when sellers offer to sell their home, they offer a 6% commission.
3 percent for their agent. That's the seller's agent that I mentioned the person that put the
sign in front of the house and said, 'Hey, this home is for sale." And then they offer 3% to the
buyer's agent whoever brings them a buyer. So, all the other real estate agents, they take all
of their clients, they show them the home, whoever sells it, they get 3% and then the seller's agent
gets 3%. Or should I say, the seller's broker. This is the key that most people don't get. Like I
said, real estate agents cannot get a commission. All of the monies go to a real estate broker.
They get the money and then they give a portion to the real estate agent. So, this is why real estate
agents don't usually make a lot of money. Let me tell you a big secret. You're selling a house,
you're a buyer's agent, okay? Meaning, you represent the buyer, you have this client,
they love this house. It's $100,000. The seller has offered a commission, 6%. $6,000. That means
3% is going to their seller's agent and then 3% is coming to you as the buyer's agent. $3,000. But
you're not going to get that $3,000. Your broker is. So, whoever you work for, in my case, I work
for EXP. They get the $3,000. And then they give me a portion of it. And every broker is different.
Some brokers take 30%. Some take 20%. Some take 40%. And I've even seen it where they take 45%.
Meaning, it's a 55/45 cut. So, that's Berkshire Hathaway. Just giving you an example. I know
I probably shouldn't share that. But Berkshire Hathaway, for new agents, without any experience,
they have in some cases a 45% cut that they take. So, that $3,000, you didn't even get half of it.
Plus, you did all the work. You were the one driving that person around showing them all of
those houses. So, you've done all this work and you may end up with only like $1,200.
Now, again, for some people, that's good money. But for others, they're like, "Hey,
where was that $3,000? I want that." And that was what I realized when I started selling houses,
that brokers were taking too much of a cut and there was a better way for me to make money. Let
me tell you. So, here is how I made a ton of money and how I became the millionaire that you see
today. I started off as a real estate investor. Yes, I've mentioned it before. I have my licenses.
I am a licensed real estate agent in the great state of Texas and in the great state of Florida.
But I do not work as a real estate agent. Meaning, I am not taking anybody in my car and driving them
around and showing them houses I'm not coming to your house and doing a listing presentation and
begging you to let me sell your home. I invest in real estate. I quickly realized that when I
started representing people that were behind on their mortgage and I was flipping those contracts,
remember, I started off as an investor. I was wholesaling properties. I was finding people
that were having property problems. Meaning, they were behind on their mortgage payments,
they were in bankruptcy, they were in divorce, they had got relocated, they no longer wanted
that house. I was able to get those houses under contract sometimes for pennies on the
dollars because they were really just get rid of the house or they were already behind
on the payments and they were about to go into foreclosure. I would get those properties under
contract and then I would flip those contracts to investors who would pay me more money. So,
as an example, I get the contract for $100,000. I flip it to an investor for 105,000, I got 5,000,
okay? That's how that worked. Now, again, I have a whole video that teaches you all of this. So, I'm
not going to get into it but I have a whole video that teaches you on wholesaling. So, make sure you
watch that video. But long story short, investors that were flipping houses, I started going to
their closing and helping them find properties and they were making hundreds of thousands of dollars.
You know, yeah, the seller's agent got 3 grand and the buyer's agent got 3 grand. But I saw that
investors were getting hundreds of thousands of dollars. In fact, in 2018, on the average flip, it
was the average profit was over 65,000. Look this up on realty track. This is not a Noelle stat. You
can look this up. And so, would you rather 65,000 or 1,200 bucks? I quickly realized I rather that
$65,000. So, I got into real estate investing and I have not moved back since. So, check out
my full training at noellesfreetraining.com. I've created an entire training. It's about an
hour long. It will teach you all of my formula, my exact formula for investing in real estate
without losing money. I give you all of the details exactly where to look and exactly how
to do it and again, all for free. I want to make sure that you have all of the resources, all of
the tools and all of the knowledge that you need to be successful. This is Noelle. To your success.