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Renae, Other/Just Looking in Lunsford

I am interested in real estate. What does the test focus on?

Asked by Renae, Lunsford Fri Jan 9, 2009

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Definately talk to fairly new agents in a brokers offices and find out what type of training and support each office provides. AND each office in a company will be different. My company has over 30 offices in the greater St Louis area and each one has a slightly different training and mentoring program for the new agents at their individual office, even though the corporate program is the same. My particular office is noted for being an office where the agents work together and support each other but there are other offices in my company where the agents are very competitive and aren't very supportive of the new agents. My first listing, I had 3 top agents in my office "accidently" looking over my shoulder while I was working in the computer room, each giving me suggestions and help as I designed my first flyer on the computer and then when it turned out I didn't have any white cardstock to print it on, one of the top agents handed me some of his and told me it would be a shame to print it on what I had and to please use his - I could replace it later on. That's the type of an office that you want when you are starting out.
Web Reference: http://www.yourstlhome.com
0 votes Thank Flag Link Sat Jan 10, 2009
Renae,

I totaly agree with Dale. The test has very little to do with selling real estate. The main focus is on State and Federal law with a strong emphasis on Fair Housing and worhtless info like how many sq ft are in an acre. After more than 11 years in the business, I have yet to have a client want to know!

The class will teach you what you need to know about passing the test. Once you past the test, the fun really begins.

The failure rate for new agents is above 85%. This is due to a VERY broken philosophy of about 98% of real estate companies. It is sink or swim out there. And dont believe the BS the broker will tell you about their amazing training and mentoring program. Their failure rate is only slightly less pathetic than the national average.

The truth is they know that most agents are going to fail and they dont care. They simply want 1/2 the commission on the 3-4 deals you will close before you give up. Then they just replace you with another new agent and so on. It is totally churn and burn.

If you want to get into this industry, find an agent or broker that shares your core values and make sure they have the time and resources to train you properly. The first year will be tough. Year two will be better and year three is the "magical" year where you really break through.

The average agent in KC sold about 4 homes last year and beofre you get to thinking that it was due to the market, that number is conistent year after year.

Now, there is the occaisional super rookie that learns VERY fast, has the hunger, resources and personal connections to explode in year one, and you might be that person!

If you are serious about a career in this business, drop me an e-mail at dn@mykchometeam.com and Ill share more info... I could go on for days!

Good luck

David Nichols
Web Reference: http://www.mykchometeam.com
0 votes Thank Flag Link Sat Jan 10, 2009
Renae,

Early real estate training curriculum focuses on law and legal issues that agents need to be aware of and understand in order to remain litigation free.

The actual essence of being an agent will come with later trainings.
0 votes Thank Flag Link Sat Jan 10, 2009
The test for Missouri changes. I can't tell you at the moment what is on it. I can tell you that the classes that teach real estate teach to the test and that the test doesn't really cover how to sell real estate, it covers the legal requirements that you need to know about real estate - arithmetic, ownership, brokerage, valuation, taxes, economics, and finance. . etc. There are a lot of people who flunk the test the first few times that they take it (which by the way is on line in a proctored setting). It's not an easy test, even for people who typically do well on taking tests, it is one where you have to know the material and how to apply it.
Web Reference: http://www.yourstlhome.com
0 votes Thank Flag Link Fri Jan 9, 2009
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