Mar 272015
 

take_a_walk_150_clr_8169At first, this seems like an easy question. But there are a number of factors contributing to the answer. Let’s review some basic facts.

A sales agent license is non-renewable and is valid for two years. In other words, you must be prepared to apply for and receive your associate broker license upon expiration of your sales agent license. (There are some circumstances which allow for a one year exemption, but the are exceptions. You should plan on becoming licensed as as associate broker at the end of your two year license term.)

An associate broker license includes two important qualifications. First, you must have been licensed as a real estate sales agent for two of the past five years. Second, you must complete the Associate Broker Course. (MRS Title 32, Chapter 114, Section 13199) In other words, you must successfully complete the Associate Broker Course before your sales agent license expires. But you still can’t become an associate broker until you’ve completed two years as a sales agent.

So an “easy” answer is “You should take the Associate Broker Course while you are licensed as a sales agent.” It would also be an accurate answer, but it doesn’t tell the whole story. A good follow up question is “Should I take the Associate Broker Course soon after I get licensed as a sales agent, or wait a while?”

The answer to that question depends on several important factors:

  1. How much practical experience are you gaining as a sales agent? The Associate Broker Course is designed to be more about experience and application than the Sales Agent Course. In fact, the Associate Broker Course is based largely on case studies and scenarios. Until you’ve been involved in an actual transaction, the course simply won’t have full value. In addition, completion of the Associate Broker Course includes a requirement you submit a completed Documented Field Experience Form. This form is completed in partnership with your designated broker or mentor and is designed to insure you’ve had some “hands on” experience.
  2. How available is the Associate Broker Course in your area?  The course is 60 hours long and is not something you can complete at the last minute in a few days. In the Bangor area I tend to teach it twice a year–spring and fall for the Arthur Gary School of Real Estate. That means there are three opportunities to chose from during your two year term as a sales agent. Note, however, that we alternate between weekday and weekend courses. If your schedule limits when (day of the week) you can take the course, that limits your choices.
  3. How certain are you that you are going to remain licensed? There are many different reasons that someone might decide not to pursue a career in real estate. Since taking the Associate Broker Course is an investment, it might make sense to wait until your second year as a sales agent.

There simply is not one answer to the question–you have to consider the factors. I have had students get licensed as a sales agent and come back to take the Associate Broker Course within a few months. Their explanation is “I want as much education as I can get as quickly as I can get it.” How can you argue with that?! (Again, understanding you’ll gain the best education if you’ve had at least some hands on experience.) I’ve also had students procrastinate taking the course for various reasons. Unfortunately that sometimes means I get a frantic email or phone call when they realize they are facing expiration of their licenses next month. It really is easier to plan ahead.

Let’s take a hypothetical student named Suzie who gets licensed on March 15, 2015. Her license is set to expire on March 15, 2017.  Using the “Spring/Fall” schedule I teach, that means Suzie can plan to take the Associate Broker Course in in fall 2015 at the earliest. She’ll have a spring and fall opportunity in 2016. She might have an opportunity to take the course in spring 2017 but will need to have completed it by March 15th.

Remember that the Bangor course I teach with the Arthur Gary School of Real Estate alternates as a weekday or weekend course. The spring course is typically a weekday course and the fall course is a weekend course. If Suzie is working full time and can only take the course on the weekends, she’ll need to take it either in the fall of 2015 or the fall of 2016. There are, of course, other courses available from other providers and instructors. I just happen to like having students return! I wish I’d kept track, because I know there are a number of students who have completed all of their licensing courses with me from sales agent through broker.

If you find this confusing or are uncertain what will work best for you, don’t hesitate to give me a call or email. We can talk through your options and figure out what works best!


Marc Corriveau

Marc Corriveau

 

If you listen to Walter, pay attention to his anecdotes, ask questions, and study with your fellow students; you are assured to benefit from the Arthur Gary School of Real Estate. I attended the class in September of 2014, and was quickly picked up by the ERA Dawson-Bradford Real Estate Agency in Bangor. The Arthur Gary Class and Walter’s teaching method have propelled me into the career I wanted.

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Mar 182015
 

bored_reading_paperAs we begin another season of licensing courses, it’s a good time to consider our study habits.

“If you study to remember, you will forget. If you study to understand, you will remember!”

Truer words were never spoken—at least for most! This course is intense and for most students will include new concepts, new vocabulary, and require some basic math skills. While there will be some things that require memorization, much of the course is about applied learning and understanding how you will be using information once licensed. Most people underestimate the difficulty level and commitment it will take to succeed, but most people also end up getting through the course and passing. Failure is certainly possible, but it is the exception.

If you’ve been out of school for a while, you’ll want to develop a plan for studying. Most students will affirm, you can’t simply sit in class and expect to pass the course. Some successful techniques students have used:

  • Create a daily study plan or routine, regardless of the time between classes. Even if it’s only 15-30 minutes, review at least some portion of your notes every day. Remember that studying isn’t just about going over material. Think about how you will best learn and remember. People “chunk” information differently. Consider how you’ve learned things in the past and plan your learning. I remember one student who created a second notebook and quite literally re-wrote (in long hand) her entire notes after every class. I wouldn’t learn that way, but she surely did!
  • Hone your note-taking skills. Remember they are your notes and they should reflect how you best learn and remember. Attempting to take down everything the instructor says verbatim may not be most effective. I’ve seen students draw pictures and diagrams or concept maps. One memorable student needed extra space for her multicolored highlighters and stick on flags. While I never fully understood her system, it did seem to work for her.
  • Flash cards can be a great study aid—particularly with vocabulary. As part of your study plan, use index cards to record a word on one side and the definition on the other. You can create them from your notes. You’ll have quite a pile by the end of the course, but you want to flip through them, testing yourself. When you find yourself getting the answer right consistently remove the card from the deck so you are working on the concepts and definitions necessary. (You should probably review all your cards before the final exam!)
  • Consider finding a “study buddy.” While a classmate can be ideal, it can be someone who actually doesn’t understand the material. One student gave her young daughter her flashcards and had her ask questions during a long trip they made together while Mom was taking the class.
  • Where you study can be important. It might go without saying, you’ll want a place that allows you to concentrate. You should have everything you need and nothing you do not need. Turn off the smart phone. In general, avoid distractions and create a block of “quality” study time. Although I remember one student who was struggling until she decided to spread her flashcards on her kitchen island. Every time she passed the island she’d pick up a random card. You have to discover what works for you and remember that how you study may be more important than what and for how long.
  • Avoid studying to the quiz (or test). As the quotation at the beginning of this article suggests, study to learn and understand. When you focus on a quiz or test it can create additional anxiety. Shift your thinking from “I’ve got to pass” to “I want to learn.” Relax! Give yourself breaks and rewards and try to stay positive. If you find yourself getting anxious and confused, take a short break.
  • Teach the material you’re trying to learn. It’s generally accepted that a very effective learning technique is to teach the material. You can do this with your study buddy from class or even someone who knows nothing about the topic. He or she may not know if you are correct, but if you can get them to understand it, you probably understand it as well!
  • Talk to your instructor if you are having difficulty in general or with a specific aspect of the course. He/she understands there are different learning styles and sometimes a “one on one” conversation can create an “Aha! Now I get it!” that may not be possible in a group setting.

Picasso said, “I am always doing that which I cannot do, in order that I may learn how to do it.” Focus on the doing. Challenge yourself! There may be times when you feel you aren’t getting something, but just keep doing. Don’t think, for example, “I can’t do cap rates!” Do them. You will learn how.

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Mar 032015
 

There are plenty of jokes about California… while avoiding all those (including the observation that all crazy ideas start there and work their way east), here’s a link to a post originally mentioned in Oakley Signs “Tuesday Tactics.”

Before you go to read… Note that I actually may have asked you the wrong question at the title… While what you think is certainly interesting and important, what are prospective customers and clients going to think? Not too many would argue the need in our business to become more client focused.

There’s a case to be made here that this is not so much about creating a “new” business model as it is about developing an approach that maximizes the use of technology in response to amazing leaps in technology as well as changes in the way people are using technology.

Be sure to read the comments… noting the fact that debating semantics aside, there are apparently versions of this approach to the business located around the county. That would suggest there’s a third question: How are rapidly developing technology and changing consumer preferences going to impact the traditional real estate model?

Here’s the link to the article: Open Listings Allows Buyers to Purchase Without Real Estate Agents (Note that “Open Listings” is the name of a company, not the type of listing agreement.)

Here’s a link to the company: Open Listings

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