Career changes are always scary, but you may be especially nervous about entering a commission-based field like real estate sales. While we understand your concerns, 2024 data shows that there’s money to be made in the California real estate industry for knowledgeable, service-minded agents. If you are asking yourself, “Should I become a real estate agent in California?” – keep reading. We have good news for you.
Overview of the California Real Estate Market
You may see conflicting reports as you look at California market data. One reason for this is that housing trends vary widely by market. For example, in 2023, housing prices dropped by nearly 8 percent in Santa Cruz, while in Santa Barbara, they rose by 16.4 percent. The health of the California market varies by city.
In addition, the latest April 2024 California Association of REALTORS report indicates increased sales and listings in the state despite the Federal Reserve’s recent decision to keep interest rates the same. Despite interest rates and inflation, houses are moving in California.
If you are considering a career switch to real estate, you may be following market reports and studying statistics to determine when to get your start. However, we want to remind you that it takes four to six months to become a real estate agent in California. In addition, it will take time to establish your business and gather leads. Get started now so you are ready for whatever the future holds.
Recent Trends and Developments Impacting the Market
While we’ve touched on the California real estate market and news regarding interest rates, you may also wonder how the recent National Association of REALTOR’s proposed settlement will impact your starting salary as an agent.
However, one of the focuses of the settlement is to increase transparency and competition within the industry, aiming to empower consumers with more choices. A real estate agent with a transparent fee structure and diverse and valuable services should continue to do well.
Advantages of Becoming a Real Estate Agent in California
As you wonder, “Is it worth getting a real estate license?” allow us to remind you of the advantages of becoming a real estate agent in California:
- Flexible schedules
- Positive job outlook and opportunities
- Potential for high earnings
- Independence
- Ability to be your own boss
- Working in an exciting industry
Real estate agents also have the honor of helping people with one of the most personal financial decisions they will ever make – buying a home.
Skills and Qualities for Success
Do you have what it takes to succeed in a competitive real estate market? A positive growth mindset and customer service excellence are critical for doing well in the industry. All the other required knowledge and skills can be learned and developed.
Allied Schools offers all the required real estate courses you need to become a real estate salesperson in California. We offer at-your-own-pace online and livestream courses that you must take before sitting for the licensing exam.
FAQ: How Hard Is it to Pass the Real Estate Exam?
The California salesperson exam has about a 60% pass rate. Increase the likelihood of passing the exam the first time you take it with Allied School’s Pre-Licensing Courses. We are so confident in our courses and exam-prep materials that we offer a Pass or Don’t Pay Guarantee.
It’s a great time to become a real estate agent in California! Over 350,000 agents got their start with Allied Schools. Learn more about our course offerings today.
Key Takeaways: Should I Become a Real Estate Agent in California?
- April 2024 data shows that current real estate agents in California are optimistic about the market.
- Real estate agents who offer top-tier services and transparent fees should continue to do well regardless of the recent developments with the NAR.
- Working as a real estate agent has many benefits, including independence and flexible scheduling.
- Quality education can prepare you for your exam and help you better serve your future clients.
Source:
1. “Market Minute Write-Up.” CALIFORNIA ASSOCIATION OF REALTORS®. Accessed April 11, 2024. https://www.car.org/marketdata/marketminute.
2. Porter, TJ. “California Housing Market.” Bankrate. Accessed April 11, 2024. https://www.bankrate.com/real-estate/housing-market/california/#trends.
