Lessons in Real Estate

What is your dream job? Is it being a manager of your own company or working for someone? What do you want your hours to look like? Would you want to spend a lot of time at the office or have lots of time for yourself?

There are many jobs that fit both of these categories. However, one profession that stands apart from the rest is that of real estate, which is a qualified realtor helping their client buy or sell private or commercial properties. This profession provides you with a lot of flexibility that allows you to choose your work schedule and who you want to work with. And thanks to the enrichment program at Queens Preparatory Academy, students can gain exposure to this field in the real estate enrichment course spear-headed by history teacher and real estate professional Mr. Bednar.

QPA’s enrichment program provides a great opportunity for teens to get a glimpse into the outside world. Enrichment programs empower young people to get a feel of what they want to do career wise and real estate is definitely one of them. Mr. Bednar wants to empower students at QPA to start a real estate portfolio by teaching them all parts of the business, from good credit to closing on a home.

Mr. Bednar enjoys teaching the students at QPA about real estate; he believes that all people should be educated and prepared to own their home. Mr. Bednar is a big part of this venture career wise because he teaches it every Friday. He first got interested in real estate early on. He says, ‘‘ I have been interested in real estate since I was young; architecture and land ownership were always interesting to me.”

However, if you’re interested in starting while in school here’s some things you can do. Now retired realtor Marland Rivers Sr. says, “Learn how to cultivate your patience because each client you encounter will be different. Some clients know exactly what they want, and some clients you have to nudge along throughout their transaction.”

Realtor Pedro Mendez says, “You have to be handy with Math and social skills and have lots of patience” to succeed in this field. After finishing high school, you will be eligible to apply to a real estate school such as the Empire School of real estate located in Yonkers, NYC. You pay for the classes and get discounts if you pay early. You also take a couple of tests after you finish your year. But if you are able to pay in advance, you get a discount for the class. After you finish, you can take a couple of tests as long as you have attended the mandatory 75 hours of school. Based on your results, you will receive your realtor’s license.

Every realtor’s schedule is constantly changing, which makes you your own boss! For Mr. Rivers, the day started with him waking up and checking emails. In the evening, he went to the office to help his clients. Mr. Mendez usually works from 8:30 am-5 pm.

Being a realtor also means you have to follow a code of ethics, such as the ones Mr. Rivers mentions when he says, “Keep up with the latest housing trends so you can relay this to your clients to stay out of trouble. Investing in fixer-uppers for all kinds of houses is important because as Mr. Bednar says, “When working with buyers, it all depends on what they are looking for, from fixer-uppers to move in ready.” It’s important to keep that in mind since you never know what people are looking for.

Now, if you don’t know what type of realtors there are, here are the different kinds: realtor, agent, broker, seller’s agent, buyer’s agent, and dual agents. Realtors are licensed by the National Association of Realtors that follow a code of ethics. They often have a brokerage company that employs people as buyers and sellers agents organize property showings and also provide marketing materials.

Brokers handle marketing and selling property. Seller‘s agents usually sell your property and get commission upon a successful sale. They come up with the appropriate sale price and negotiate your property for a showing. Buyer’s agents only work with the buyer; they go through listings in the market to establish availability and they make arrangements to view and inspect properties. Lastly, a dual agent works with both the buyer and seller.

So, how would you like to be a part of Mr. Bednar’s team if given the opportunity? Are you ready to start your journey in real estate? Why not go for it? You never know where it might lead you!