2020 has been an interesting year, to say the least. The COVID-19 pandemic has turned many lives upside down and has many of us rethinking our career paths. Our recent survey found that 51% of workers would consider changing careers if they were to lose their jobs, and nearly 1 in 5 workers would consider a career in real estate.
Real estate appears to be the right choice for many people with a whopping 85% of agents surveyed being happy with their choice to pursue real estate!
If you’re considering a career in real estate, you’ll naturally have some questions and concerns, particularly in the COVID-19 era. You may be wondering if real estate is still a good career option with the potential of extended social distancing measures and some chatter about a 2020 recession. And you may have questions about what’s involved in getting a real estate license and how to get a real estate license online.
Let’s answer those important questions.
Why You Should Consider a Career in Real Estate
Real estate is a respectable career that offers flexibility, control over hours, and unlimited income potential, all without a college degree.
Of the 800+ agents recently surveyed:
93% say that real estate offers them good flexibility,
81% agree that they have control of their hours, and
86% say that real estate offers them good earning potential.
Additionally, launching a career in real estate is fairly quick and inexpensive, especially when compared to the traditional four-year degree route to a respectable career. On average, agents invest eight weeks and $1,266 in prepping for, and taking, the real estate exam to start their careers.
But What if There’s a Recession?
If you remember the impact of the 2008 Recession on the housing market, you may have concerns about getting into real estate in 2020 when economists are fairly certain the COVID-19 pandemic has started a new recession. But industry insiders have good news for real estate agents:
Recessions are a perfectly normal part of the economic cycle. When you come into the industry during a recession, you learn how to work for leads, instead of having them fall into your lap as they often do during a strong market.
Tech has made the industry more adaptable. Between online listings, virtual showings, and Zoom conferences, we can still conduct business while social distancing.
2020 is nothing like 2008. The 2008 recession hit housing hard because it originated in the mortgage industry. This new recession is targeting other industries (particularly travel and hospitality).
People will always need a place to live. Even during a recession, people need homes.
There are recession-friendly buyers and sellers. You can target groups like investors and foreclosure asset managers who are typically more active during a recession.
Recessions are nothing to fear!
Why Online Real Estate School is the Way to Go in 2020
Online real estate school has always had a few advantages over traditional classroom schools:
You can work around your schedule, learning whenever it suits you best.
You can work as fast as you’d like. 87% of survey participants report that they enjoy being able to self-pace with online learning.
No wasted time driving to and from class.
And now, with so many classroom classes being canceled to prevent the spread of COVID-19, 2020 is the best year yet to get your real estate license online! You can enroll in online real estate courses, confident that your classes won’t be postponed or canceled even if a COVID-19 recurrence requires additional classroom closures.
You may also suddenly find yourself with more time available for online learning. 49% of those surveyed said they are taking advantage of the COVID-19 downtime to learn something new. And an additional 31% reported that they planned to learn something new during this period. There may never be a better time to invest in online real estate school!
The overall online learning experience reported by online students is highly positive with 83% of people surveyed agreeing that they will be seeking out online learning opportunities again.
What is Involved in Getting a Real Estate License?
While the exact steps to getting a real estate license vary by state, the overall process is similar countrywide. These are the standard steps:
Meet the basic requirements (typically age and legal residency requirements).
Complete a state-approved real estate education (could be one class or several).
Pass the state real estate exam.
Find a broker to supervise your work.
Apply for your real estate license.
Is Getting a Real Estate License Worth It?
86% of agents surveyed reported that, yes, getting a real estate license is worth it in terms of time and money invested.
This number is particularly impressive given that 69% of agents reported that the expense of getting a real estate license was higher than expected. On average, the out-of-pocket expenses for real estate classes, exam prep, and testing came to $1,266. It’s important to note that the amount you’ll spend on getting your real estate license largely depends on your state requirements. Getting a real estate license in some states is simply more expensive than getting a license in others.
But when you compare this cost to the cost of a four-year degree, as is required by many other respectable career paths, getting your real estate license is a bargain. No wonder 86% of agents are still happy to have invested more than expected in their new careers!
How to Get a Real Estate License Online
When people talk about getting a real estate license online, they are most often talking about taking the required real estate courses online, as opposed to attending on-campus real estate classes.
Nearly every real estate license applicant still needs to take the state exam in a classroom setting, although some states are making exceptions during the COVID-19 crisis to allow applicants to take the state exam online. If your state is allowing temporary online exams, be prepared to have the exam proctored via webcam; this will not be an “open-book” exam!
From that point, nearly every state allows you to complete your real estate license application online.
What is the Best Online Real Estate School?
The best online real estate school is the one that prepares you to pass your real estate exam. Because if you can’t pass the exam and get your real estate license, what’s the point of taking those online real estate classes?
The best online real estate school should also provide exceptional value for your investment, offering engaging, high-quality courses at affordable rates. And finally, the best online real estate school should be easily accessible; bonus points for schools that offer course content via tablet and cell phone.
Aceable Real Estate School prides itself on preparing students to pass their state exams, offering free test-prep with all our pre-licensing courses. We’re also consistently among the most affordable online real estate schools, while still providing highly engaging course materials to make learning fun and easy. And with our mobile-first design, you can learn directly from your cell phone any time, anywhere.
If you’re ready to make 2020 the year you get your real estate license online, enroll in your Aceable Real Estate School courses today!