The Story of Real Estate

Guidance from the real estate school Texas residents admire.

Congratulations on your decision to consider entering the real estate business.

You may find the following letter bit long but there is a reason for that. If we could explain this in a paragraph, it would only be a paragraph. But it can’t be described in a paragraph. You are about to make some important decisions. We wrote this to assist you. For years we have watched people just like you enter the business without really knowing what they were getting in to or how to actually plan and prepare for the business. It is difficult to watch people spend the time and the money and make the commitment but then end up struggling for years to attain success or worse, leaving the business altogether a short time later. What you are about to read is real world real estate from two owners who have been in brokerage over three decades, 2.5 of them in education. We have had over 44,000 students take over 120,000 Texas real estate classes in the last ten years alone!

This letter is to present you with an explanation of how the business works, why we think it is the best business in the world, what you can do to get started, and some suggestions of things you can do to improve your chances for the success you want.

With this letter and assistance from our counselors, you will be able to make the following six decisions:

  1. Where to take your classes
  2. Which classes to take
  3. What method (Correspondence, LIVE classroom or Online)
  4. How to choose a broker
  5. How to budget startup and ongoing costs
  6. How to get started

We feel like we owe you this explanation as these are things no one told us when we were getting licensed. We did our best to tell The Story of Real Estate as succinctly as possible.

We thank you for choosing us to be your education provider. We thank you for your time and your financial consideration and would like you to know we are doing everything in our power to prepare you for what we believe is the best business in the world!


The Story of Real Estate

What you need to know about passing the licensing exam, becoming a Top Producer and acquiring wealth and financial freedom.

From the owners of the real estate school Texas residents trust, The Austin Institute of Real Estate and The Business School for Real Estate Pros™.

Real estate is the best business in the world if you do it right. Lots of shelf space in book stores and libraries are devoted to the subject and self-proclaimed gurus haunt late night TV hawking the latest get-rich-quick plans. Real estate brokers spend lots of money training their agents and most do a very good job.

Yet in spite of all the books, seminars and training the attrition rates remain high, above 80%.

So, what do you need to know to decide if real estate is a good fit for you and what can you do to accomplish what you want to accomplish?

Read the Attached Documents

The educational material is attached to assist you in choosing a school, choosing a delivery method for courses, choosing the courses themselves and choosing a Broker and we suggest you take time to read and understand the process we recommend. These suggestions are the results of years of experience from listing, selling, investing and managing real estate and training others how to as well. We highly recommend you compare us to other schools before you make a decision. Why? Because not all real estate schools are the same and WHERE you go to school, WHO teaches you and WHAT YOU LEARN does make a difference.

One of the attachments is “How to Choose a Real Estate School”. It is a list of questions that only insiders would know to ask. Call the schools listed and ask them the questions. Write down all their answers. Then compare. Then decide. We’re not saying we’re better. We’re just advising you on how to make the best decision for you. Get the information you need to make an educated, informed decision about how you want to approach the business.

Here are four things you need to know that most schools do not tell you (and don’t want you to know).

  1. Many school owners have never listed, sold or invested in real estate. IE: they have NO experience in the business; they just teach the TREC required classes.
  2. The licensing courses are important BUT they are only the beginning of what you need to know. We guarantee you will pass the state exam but that is not all you need to know. It is the beginning of your education, not the end.
  3. Most agents have no plan and leave the business after many years of hard work with no assets, no passive income and nothing of value to sell. They just walk away.
  4. Some people take the minimum number of classes and buy the minimum number of books to prepare themselves for this business and then wonder why they make the minimum amount of money. Finish all courses in 48 hours? Really?

You will be advising people on making one of the biggest decisions of their lives; shouldn’t you master the subject in order to give quality advice, deliver world-class service and build your referral base? What separates the $100,000 per year earner from the $500,000 per year earner? How much they know about real estate. Think about it like this; you want to be a highly paid professional, like a surgeon and you tell your professor you want to take the minimum number of classes? When you think about it, it doesn’t make a lot of sense. Yet there are actually real estate schools who advise NOT going to class to learn about the business of real estate. Very few even offer live courses or create their own content. And very few have a business and investing courses and mentoring and coaching programs.

The Best Business in the World

The good news is that this is the best business in the world. This letter from us is what we think you should know that we were not told when we went to school. First, read the attached “12 Reasons Why YOU Should Get Into Real Estate”.

EXPERIENCE is the Best Teacher

Next, you should know that we are both licensed Brokers who have extensive experience listing, selling, managing agents, investing and managing real estate. EXPERIENCE is the best teacher and it is that experience we used to create our curriculum, teach the courses and prepare you for the business of real estate. Our instructors are also highly experienced and are either active in the business or are owners or managers of real estate companies.


We guarantee you will pass the state licensing exam. Our “Pass the Test” process comes from over 20 years of graduating Austin Realtors®. Our experience and our curriculum, combined with our Exam Prep will ensure you get your license! But that’s only the beginning of what we do for you! Whether you take your courses LIVE, ONLINE or CORRESPONDENCE we make it fast, easy and convenient. You can take any class, anytime, anywhere.

We recommend LIVE for your initial courses. The experienced instructors, the questions from other students, the interaction and explanations provide a clearer understanding of the subjects and better prepare you for the state exam. Weekdays or weekends, we have a schedule that fits your schedule. Lunch is included with most classes Monday through Saturday.

If you have a bit of a real estate background, take Correspondence. These courses are not timed and the exams are open-book, you can go as fast or slow as you like and have books to refer back to later. With access to the internet and a computer our online course allow you to take classes from anywhere in the world!

The Three Step Success System

Step One: Obtain Your License

Good Grades Do Not Equal Success?

The main thing you will learn your first year? Your real estate license guarantees you NOTHING. The memorization of facts, figures, statistics; The Texas Real Estate License Act, The Rules of the Texas Real Estate Commission, metes and bounds, interest, tax and payment pro-rations, etc, all are included in the required 60-hours of The Principles of Real Estate. The courses you are required to take in order to GET your license are very different form the courses you will need to KEEP it. The Pre-license courses are important and lay the foundation you will need as you learn the basics of real estate. However, I have never had anyone ask me the difference between EROSION and ACCRETION, how many cubic yards of concrete are in a driveway or what my exam score was. What does this mean to you? It means the information you are required to learn in order to pass the state exam is TECHNICAL information. It’s important and you will need it, but it’s only the beginning. Obtaining your license is STEP ONE of the Three Steps to success. It’s the entry fee you pay to get into real estate but it doesn’t give you the skills you will need to play it!

Step Two: Build your Business

In Step One, to get licensed you learn The Principles of Real Estate in order to acquire a Technical Education to pass the state exam. In Step Two, you learn The Principles of Business™ to learn what your clients expect you to have; a Business Education. Your clients will not care and will never ask you what your exam score was. They want to know if you can Market, Sell and Negotiate, put deals together and get them closed.

We offer two Texas real estate classes that teach Step Two: The Principles of Business™ and The Principles of Marketing™. They are based on the Real Estate Business Blueprint™ (enclosed), which we created to teach Realtors® how to make the transition from a Specialist working by themselves and doing everything on their own to a Generalist; assembling and being on a high-performance team. Statistics published by The Austin Business Journal show that teams make more money than individuals. You are always better off on a team, and business is the ultimate team sport!

The Real Estate Business Blueprint™ is actually the outline for the course. It shows the six components of a business and the definition and goal of each. The Principles of Business™ course shows you how these six components function and how they fit together to form a synergetic whole. The course is taught in 3 days using Accelerated Learning; games, activities and situations that simulate, teach and give the experience of how to build a business in the classroom. Real estate is not a job and it’s not a career; it’s a machine you build to GIVE YOU YOUR LIFE! Yet, sadly, many people choose to give their lives to their business simply because they do not have a team approach.

The second class in Step Two is The Principles of Marketing. This course focuses on one topic: Lead Generation and two components: Marketing and Sales. Marketing is the most important skill to have and this course will show you how to elevate, separate, differentiate and distinguish yourself, dominate and monopolize your niche and make your competition irrelevant. Your automatic lead-generating referral system will steer prospects to you, declare you the obvious choice to do business with and lead them to decide “I would be a fool to do business with anyone BUT you!”

Step Three: Invest Your Profits

The Principles of Investing; increasing your financial IQ. Your worries about Social Security, Pension Plans, health care costs and inflation disappear as you begin to use your knowledge of real estate to acquire low-risk, high-yield investment properties that produce passive cash flow income and appreciation. You will be in a unique position to find deals before they hit the market. Take advantage of these opportunities and increase your financial IQ by learning terms and formulas like Cash-on-Cash, Internal Rate of Return, Capitalization Rate and Return on Equity as well as financial analysis and tax law structure. Build your network to produce deal flow and a team of professionals to assist you with legal and tax advice. An increase in financial education results in a decrease in risk. Transition from Speculator to Investor as you learn the Insider Trading Secrets of the real estate investor to create your own retirement plan.

That’s our Three Step Success System. It was created by us: successful Brokers and business owners to increase your knowledge, get you started quicker, help you last longer and become prosperous and flourish in this exciting, evolving, interesting business that is filled with opportunities, potential and promise. Three simple steps.

  1. Obtain your license: Technical education
  2. Build your business: Business education
  3. Invest your profits: Financial education

At The Business School for Real Estate Pros™ we teach all three because if you want to reach the upper echelon in production, work and play among those at the top and handle money and the freedom that comes with it, you need all three. We invite you to check us out and see if we are the right fit for you when it comes to a curriculum that is proven to work and produces results. If you think we’re the best fit for you, we are happy and ready to help you get your Texas real estate license and aid you in the beginning of a rewarding career.

What do I do now? How do I REALLY Get Started?

  • Visit our facility, meet our counselors and receive a complimentary copy of our book “How to Get Rich in Real Estate…AND Have a Life!”
  • Read “12 Reasons Why YOU Should Get Into Real Estate”
  • Read Page 3 & 4 of our brochure “Getting a Real Estate License…” for the 6 steps to getting started
  • Compare us to other schools: read “How to Choose a School” pages 7 & 8 of the brochure
  • Review The Real Estate Business Blueprint™
  • Attend a Career Night at our facility and tour our building
  • Schedule your classes (either Correspondence , Live or Online)
  • Take the exam prep
  • Schedule and take your state exam
  • Attend our FREE half-day training “How to REALLY Get Started in Real Estate”
  • Choose a broker
  • Begin your training
  • Remove all distractions and focus on generating leads and producing income
  • Build your business by attending Principles of Business, Principles of Marketing
  • Invest your profits by taking The Principles of Investing
  • Take our advanced Coaching/Mentoring Program

By now you have enough information to go do some market research to decide if real estate is the right fit for you and compare us to other schools. Thank you for your interest, for taking the time to read. It pains us to see people spend lots of money and valuable time entering the business only to leave a few months later because they did not know what they were getting in to and were not prepared. This may seem like a lot to read, but we thought you would find it helpful in making what we think is a big decision. We hope it was useful.

From Wayne and Lynn Morgan, co-owners

The Texas Institute of Real Estate and The Business School for Real Estate Pros™;

Where people excel…businesses flourish…and success becomes normal

The Texas Institute of Real Estate offers real estate courses and real estate training to Texas students seeking a Real Estate License. Sign up today for real estate courses and real estate training in Texas. Correspondence courses are offered by St Edward’s University Professional Education Center (#0720) in association with The Austin Institute of Real Estate (#0544/0040).