If you’re considering getting a South Carolina real estate license, you might be surprised to learn there are quite a few career paths available to you. Here are some different positions to consider.
Working With Investors
Working with investors who buy and sell or hold and lease properties can be exciting. It’s not uncommon for an investment team to work with a real estate agent to gain access to insights from the MLS (multiple listing service) in the areas where they do business. The majority of MLS listing information is viewable to the public; however, a licensee who joins and pays dues to a REALTOR association in their state can gain access to historical data. They can run reports and find other details about a property that may not be as easily accessed through websites.
“The benefits you get from all that data on the MLS is unreal," said J. Scott, principal investor for South Carolina Real Estate Buyers. "That alone makes getting the license worth it.”
Your South Carolina real estate licensure requirements include 60 hours of pre-licensing education, an exam, and 30 more hours of education on real estate principles. After that, you can also take another 30 hours of training in property management.
After passing the property manager exam, you can oversee the maintenance and leasing of commercial and residential properties. This work will also require an understanding of market lease rates and elements that may impact the value of the property you help to oversee.
With housing in high demand in South Carolina, new home communities are on the rise as well. With a real estate license, you can become an onsite agent who helps people navigate the purchase of a new home. In this role, you’re working for the builder, so you’re handling the seller’s side of the transaction.
You’ll need to study and understand the builder’s contract and similarities or differences to other contracts you may encounter. In this rewarding role, you may also be in a situation where homebuyers who do not have an agent representing them look to you for guidance on their purchase.
These agents work almost exclusively with homebuyers. They can be first-time homeowners, those looking for a step-up home, retirees, or those new to the area wanting to find the community that best suits their lifestyle. In this role, you learn the needs of the buyer and try to match the home and location to those needs.
As mentioned before, some buyer’s agents work with investors, too. You can serve as a go-to source for information that helps them find the deals that fit their investment goals. Some investors also focus exclusively on commercial land or property. Licensed real estate professionals with a strong understanding of a market could help investors with due diligence on purchases and lease execution as well.
In this role, you help homeowners or commercial property owners market and sell their homes. You’ll need to understand pricing trends in an area and the amenities buyers are looking for so you know what will help a property sell.
Having listings also helps to market a real estate professional and sometimes aligns them with buyers, too. So, if you want to pursue listings as a primary focus for your business, don’t be surprised to find yourself helping some buyers find the home or commercial property of their dreams as well.
Many real estate licensees also become appraisers, or those who verify the value of a home, land parcel, or commercial property during or before a transaction. To become an appraiser requires additional education, but many will get a real estate license first, which allows them to research and understand market dynamics, creating a good foundation for learning what influences the value of a property.
Having a real estate license can expose you to several different career paths. Most people who succeed in real estate are self-driven and appreciate the low start-up costs and unlimited potential in the field.