If You Are a Real Estate Investor You Must Continue Your Real Estate Education

With all things that are done intentionally as a real estate investor your education comes first. A real estate investing education is primary to your success in business, and in all circumstances there is an identifiable pattern of learning that leads from thought to action. When experiencing something new, first you hear about it or learn of its existence. Next you learn what it is. Then you learn how it works. And finally, you practice it, which is where experiential learning begins.

This article is intended to discuss education, separate from experiential learning (but a little more on that below). Your real estate education should not be looked at as a phase you go through, but rather as an ongoing process. This is a requirement to stay in the real estate business and to excel. There are at least three very good reasons why your real estate investing education should be continuous and ongoing. One is that having new information can allow you to improve the process of what you’re already doing, so that you can do it better. Another is that having new information can allow you to do new things that you’re not already doing, such as implementing new profit centers in your real estate business. A third is that the world is always changing so that knowledge needs to be continually updated to be useful.

The fastest way to develop yourself educationally is to actively seek out as many sources of education as possible on a continuing basis. There are three common modes of education to be aware of that can help inform your search. One is private education that you digest on your own, which can include books, audio recordings, video recordings, websites, and online and offline real estate investing newsletters. Another is participatory education, which involves some sort of interaction with an educator, and can include seminars or boot camps, conference calls, and webcasts.

Yet one more is hands on education, which can be gotten by working with others already in the business. This could take the form of a mentorship or an apprenticeship with another investor. You could also take advantages of all the resources of a local real estate club, either online or offline, which is dedicated to helping investors further their education in all sorts of ways. As an ongoing business activity, your real estate education deserves management and balancing against the other ongoing activities of your business as well as all of the other demands on your time.

You should work it out however is best so as to ensure that a dedicated portion of your time and resources on a regular basis go to furthering your real estate and business education. A final word on education from experience, or experiential learning, comes last. Education can be overrated by beginning real estate investors. While it does have a large role to play in your overall progress and success, the amount you actually learn from studying educational materials is negligible compared to the amount you learn from actually performing an action or having an experience.

Keep this in perspective if you feel paralyzed by an insufficient real estate investing education.

Real Estate Training Courses Online: For Better or Worse?

Few years back, people have had only relied their education and learning needs through traditional methods. Even professional individuals who aim to enhance their knowledge and skills attend seminars and trainings to gain ideas that they can adapt for and succeed in achieving their career goals. Years have pass by, training and education became a very important part of every success and career path that a person chooses, specifically for real estate agents in the US. Licenses were then implemented to ensure that realtor agents are adequately capable of performing their duties and responsibilities – and which aimed to give emphasis on the need for applicants to ensure a college-level education before being able to take the national examination for realtors and get an active license. Aside from that, every state in the US had made their own set of requirements that applicants need to take note of as part of the licensing process.

With the existence of E-learning, also known as the online method of education and learning in the early 20th century, the housing market slowly began adapting to this – which sparked an interest for several service providers and companies to offer what we now know as real estate training programs online.

What are these real estate programs offered online?

These training programs are designed to provide the necessary education to realtors and applicants. The only difference is that the method was accessible and offered through the Internet and with the use of modern computers and mobile devices. Several US states have adapted to this kind of education, allowing it to be offered to license applicants and professionals taking their pre-licensing, continuing education, license renewal or post license course credits.

Since it is offered online, it showcases an advantage on the students to manage their own time in studying. Such online courses can be in a form of webinars, power-point presentations and slide shares. Other courses are downloadable to PDF formats to help students access their course even without internet connection. Just like several traditional methods of education, accredited real estate programs online hand out certificates to students who were able to finish the course, and to which they can print and add to their current credentials. Just to make it clear – these real estate training programs online do not give out the actual license to realtors. They only serve as the college-level of education and learning needed for them to be able to complete certain requirements set by the state department of real estate. Only a certain states’ licensing department can give out examinations and the actual license.

Why does this kind of program exist?

Though these programs only hand out certificates about the training and not the actual license itself – these online training programs for realtors and applicants prepare them in taking the examination given by the state department of licensing for realtors. It also helps suffice the requirement credits that realtors need to qualify for a realtor license.

With this breakthrough in the industry, online real estate courses became very popular until these days – especially to those individuals who do not have enough time to attend face to face training and traditional classes.

What other needs do these programs satisfy for?

Licensing in US real estate can be divided into several stages:

· Pre-licensing

· Continuing Education / License Renewals

· Post-Licensing

Though not all states follow the same steps and requirement, these online programs in licensing realtor applicants help meet the needs indicated under every stage.

Other courses online also offer professional development and career enhancement & training programs for those who need it.

So, is it for better or for worse?

To differentiate the impact of both learning method to the industry, let us take a quick look on several factors of learning:

· Type of Learners

o Online Method

– Does not offer a face to face interaction with instructors or professors, and with other students. Yet, several programs allow interaction via online chat, video calls and webcam to help online students connect with other online students.

– The internet is the main source of information to ideas where students have a hard time understanding when presence of online instructor or chat is not available.

– Courses can be accessible anytime and anywhere to enrolled students as long as there is sufficient internet connection.

o Traditional Method

– Can directly ask questions and inquiries and receive solid answers from teachers or instructors about certain topics that needs clarification.

– Good choice for students who are more intro directed learning.

– Have a face-to-face interaction with instructors or subject matter experts.

· Prior Knowledge about the Subject Matter

o Online Method

– Mostly recommended to individuals who have a background of the subject and just takes the course for knowledge developments purposes, license renewal or CE credit needs, or skill enhancement.

o Traditional Method

– Recommended to students and individuals who do not have a prior education about the subject matter at all, since it will require them further focus to be able to efficiently understand and learn from the course.

· Student Attitude

o Online Method

– Can be applicable for introvert type of individual or those who prefer taking the program on their own to avoid possible distraction.

o Traditional Method

– Applicable to individuals who prefer learning while being able to interact with the external environment or those who have extrovert personality.

Being an introvert or extrovert does not necessarily determine an individual’s choice. Some individuals may just prefer the traditional method of education due to its interactive and realistic values, while some prefer e-learning due to its convenience and realistic goals.

· Cost

o Online Method

– The online method is cheaper as individuals only have to pay for the enrollment to the course. Some even offer discounts, promos and course bundles.

– Resources can be accessed through the internet, and the use of books are optional.

– Courses can be accessed anytime an enrolled student wants.

o Traditional Method

– Expenses vary from tuition fees, miscellaneous fees, dorm fees, transportation allowances, food allowances, etc.

· Career Path or Job Potentials

o Online Method

– Not all companies hire realtors that took courses or certificates from an online real estate course program. However, several programs have started partnering with real estate firms – in which they have come up with an agent recruitment program designed to help students who passed the program to find a job after they have also passed the national license examination for realtor applicants.

– A growing number of firms have now opened opportunities to these applicants as they see an improvement from this method of education.

o Traditional Method

– The traditional method of education in terms of real estate had a longer history of offering quality education – which in return earns much favor from real estate companies making a higher percentage of job potentials from it.

As Leonardo Da Vinci once quoted, “Study without desire spoils the memory, and it retains nothing that it takes in.” In relation to both education methods, it does not actually matter what you prefer but the desire, passion, and interest is what you need to learn and eventually succeed.

How to Gain an Online Real Estate Education

Without formal training students will have a hard time entering the real estate industry. Online accredited colleges and universities provide students with a variety of degree programs that prepare them for a career in the field. With formal training students are able to work in various parts of real estate.

The selling and purchasing of a house is not a simple process and many individuals are involved in finalizing a sale. The main careers that are available to students that complete a degree program include:

  • Brokers
  • Appraisers
  • Inspectors

Each career option plays a different role in the transaction of buying a home. Brokers work directly with buyers to purchase a home. Appraisers estimate the worth of a home and inspectors guarantee that a home complies with all building regulations. Online training programs offer all the necessary skills to enter each career. Students can gain a real estate education by completing a degree program and earning state licensure.

Degree programs are offered at the associate’s, bachelors, and master’s degree level. All educational levels prepare students to become trained professionals. Associates degree programs teach students the basics of the field. A foundation is gained that includes the legalities and finances of real estate. Students that complete a bachelor’s degree program learn the practices for commercial, residential, and rental properties. Marketing and sales education and investing courses are examined as students learn the ins and outs of real estate law. Most online programs are available at the undergraduate level. Master’s degree programs are only offered by a small number of online schools. Advanced concepts are explored in a master’s degree program as students learn about the theory and procedures behind real estate. Each level of education allows students to choose concentrations. Training divides learning into core and specialization classes. Common concentrations offered online include:

  • Appraisal
  • Property Management
  • Consulting

Specific training focuses on these areas and more to give students a complete understanding of the field. Business mathematics, legal aspects, financial institutions, mortgage markets, construction operations, and more are subjects covered in each level of education. Depending on the concentration chosen students may learn advanced practices. For example, students that are working on a consulting concentration can expect to learn finance management and capital markets at a deeper level. Education at every level trains students to confidently step into the next phase of schooling, which is the licensing exam.

To officially gain an online education, students will have to prepare and successfully pass a licensing exam. The national exam covers all foundational areas that are learned inside a degree program. Licensure is gained from the Real Estate Commission. Each state licensing requirement may be different so students need to be sure to contact their local commission to find out requirements.

Training programs can be completed from the comfort of home when students enroll in an online school. Explore the different concentration options and begin the process of gaining an accredited real estate education online. Full accreditation is awarded to quality educational programs by agencies like the Distance Education and Training Council (http://www.detc.org/) to quality training programs that meet certain requirements.

DISCLAIMER: Above is a GENERIC OUTLINE and may or may not depict precise methods, courses and/or focuses related to ANY ONE specific school(s) that may or may not be advertised at PETAP.org.

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