Real Estate Training in Important
Knowledge really is, as they say, power. Knowledge takes away fear of the unknown and empowers the educated one to approach life with a distinct advantage. Real estate is an industry which involves large financial transactions as well as something vastly more important; the property a person or family will call “home”. Knowing how to navigate the legal waters of real estate transactions, understand the economical impact to the buyer and seller, and being proficient in all of the common tasks essential to the process requires a few hours of initial and continuing training. Beyond the initial licensing classes, every agent and broker is required by law, and benefits from, continuing real estate training. Finding the right class, convenient and reputable, is key to continued success.
Real Estate Training is Market Specific
Perhaps one of the most important aspects of the real estate industry is that each market is local. Every community, in each Borough has a unique flavor and negotiating the business, at the community level, should be approached and administered accordingly. While the New York real estate license gives the holder the authority to engage in the business anywhere within the borders of the state it is important to be aware that each community has a certain appeal to different people. Specific homes or properties, for example, are more desirable to some than others and in town living offers a different style of neighborhood than in the Boroughs or in upstate where much rural and farm living may be found.
Throughout the years a real estate professional spends in the industry they gain experience and on-the-job training from “the street” simply by interacting with their clients, potential clients, other agents, community based businesses, and civic leaders. As time goes by, however, the process of transacting real estate business modifies with lending practices, zoning laws, federal laws, and state and local laws. Keeping up with all of these changes requires continual training not only to maintain one’s licensing but also to understand the changes in order to better represent their clients and the community. Many nuances within real estate are not covered as much by regulation as by people, properties and lifestyles. With that said each community may have its own unique style of property and financial products limited only to that area which indicates the need for special knowledge. Without in-depth real estate training, these subtle variations may be missed or misunderstood even by the practicing professional.
Real Estate Training is not just about “real estate”
While it is a true that real estate training, on a continuing basis, is required by the state, it is also true that a professional both wants and needs to know the ever-changing information which directly affects their ability to provide superior services to the community. Even such topics as how to market using the newest and most advanced tools, understanding changes and reforms to the financial industry, and learning of new building materials which may be incorporated into homes and commercial structures are important to fully understand when one seeks to be the best real estate professional in their market area.
The cost and time required for these continuing education classes varies from topic to topic. While one class may offer only a small credit of CE hours and have a minimal cost others require more time in class thus rendering a higher number of credit hours and a higher cost of the education. Before registering to attend any real estate training class the attendee should ensure the class offers the desired training results.
What are the Continuing Education Requirements in New York?
All licensees are required to successfully complete 22.5 hours of approved continuing education, including at least 3 hours of instruction pertaining to fair housing and/or discrimination in the sale or rental of real property or an interest of real property, within the two-year period immediately preceding a renewal.