Five years ago I would have started talking about the late night TV Real Estate Gurus, but today anyone with cable TV, a satellite dish, or in a large city can learn the virtues of having money hours a day. The infomercials or rather the programs they promote are all most people think of if you mention real estate education. But, there are really three distinct types of real estate education and hundreds of subcategories.
The three types are real estate investment as popularized by Carlton Sheets, prelicensing mandated by most states, and realreal estate education traditional education at the collegeprofessional level, it should be mandatory in High Schools. Everyone should have some real estate investment education, especially the poor among us. We all live and work in or on real estate, even pilots land. Almost all fortunes great and small included real estate, yet we don’t teach it to our kids. Prelicensing education is only needed for those who want a real estate license.
The most difficult is realreal estate education. No matter what any guru says you’ll need realreal estate education, the good news is you can hire it. One note of caution, don’t assume your local real estate agent has anything but prelicensing education! In real estate the three most important words are location, location, location. If you’re hiring or taking any form of real estate education the two most important words are caveat emptor! Lets start with Prelicensing, it’s the simplest form of education memorization!. In the preface to my book “One House At A Time Finding And Buying Single Family Rentals” I write Don’t confuse understanding real estate with being able to pass the real estate licensing exams! Sobha Sentosa To pass the real estate exam, take the required prelicensing class and memorize the answers! Do not debate with your prelicensing instructors, accept the answers they provide, whether or not the answers makes sense! Do not let anyone knowledgeable, or not, confuse you! Pass the exam! What the pre licensing instructors know is that the real estate exams are not written by real estate people! Licensing exams are written by professional educators who are assigned a chapter of the law or even just a paragraph and told to write questions about it without reference to how the question might be affected by the entire law, case law, other laws, or common and local practice.
There are only two ways to pass a state real estate exam either know the law so well that you can tell from what paragraph each question comes from answering as if you knew only that paragraph or memorize the answers. I stand by that advice, I can think of no better way to put it! If you want to get your real estate license, get it first before taking any real estate investment classes or any realreal estate education. I’ve been in lending and real estate since , teaching real estate, real estate investment, real estate sales, mortgage lending, mortgage sales, exchanging, and real estate development.