Should I get a Real Estate License?
A developer in my area that I have networked with says I should get my license to open up opportunities before I focus on anything else. It is definitely achievable this fall, but I was hoping to use the free time to study for the GMAT and get a good score for when I want to go to business school. Do you guys believe a license is crucial for getting into development, or are there other certifications or skills I could learn that would serve me better?
its not crucial but ik people that studied for a few hours before the test and passed. Try to source the multiple choice questions from somewhere, they usually make up at least half of the test.
There is no reason why studying for your real estate license will impede on you studying for your GMAT. Getting your license is really easy, if you could pass English 101 at a college you can get your real estate license. I have my license in CA (I'm sure my name gave that away) and I overstudied and overestimated it.
are there any pros (either practically or in signaling to potential employers) of getting a license when you're gunning for a role at a reit/developer/pe firm? OP stated that he wants to get into development. i've never met anyone at a developer w a RE license
That was my initial thought. I did not think it was all that common for developers, and more of a brokerage type of qualification. My state requires 90 hours of in-classroom education in order to get certified, which is why i'm trying to figure out if it's really worth it.
if you want to signal to employers that you're interested in RE, you can get a CCIM or CRE (which i've seen some buyside ppl have, although not many). others may be more equipped to chime in, but to me, the only scenario under which it seems worthwhile to get a license is if you want to be selling houses on the side in addition to the developer gig
In CA, the 90 hours is a joke. Do it online and you'll be fine.
Yeah getting the license is easy-peasy. The real question is why you are studying for the GMAT? You do not need an MBA to succeed in this business. Unless you're in another career already and are trying to hit the reset button/make connections, better to try and get an entry level job in CRE, especially with how hot the hiring market has been (although it's cooled a bit in the summer).
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