Getting your real estate license is a great way for you to dive into a part of the business world where you can essentially become your own boss. By working with an agency or going out on your own, you can make some good money if you build up your clientele and put the work in. After you have decided to take the leap and get your real estate license, one of the things that you need to determine is what kind of real estate you want to go into. Two of the most popular types are both residential and commercial real estate.
Residential Real Estate
If you have visions of helping people find their perfect dream home, then becoming a residential real estate broker is the way to go. When you work in the residential realm of things you can deal with a variety of different types of properties including luxury properties, single-family homes, apartments, rentals, townhomes, twins homes, and investment properties for your clients. In order to become a residential real estate agent all you typically have to do is take the real estate exam and pass it. Then, you may also be required to put some hours in under a licensed realtor depending on the state and county that you live in.
Commercial Real Estate
If you want to deal with larger-scale deals, then you may want to consider getting into commercial real estate. With commercial real estate, you can make really large business deals, which can earn you a lot of money; especially if you live in a large city. For instance you can work with private companies to help them either build large commercial properties, sell their existing properties, or find new places to set up shop either by buying them or by leasing them.
In addition to passing a traditional l real estate exam, you will also need to take some commercial real estate broker classes and take an exam as well because it's considered to be more of a specialty than anything. Also, you will want to try to set up some connections with other commercial real estate brokers so that they can show you the way and hopefully establish yourself a little bit more.
If you want to try one type of real estate field and then switch to another, you can definitely do that as long as you take the right classes and go through the proper testing. To learn more about becoming a residential or commercial real estate broker, reach out to your local real estate organization.
