Hanna’s Story: How ASREB Changed My Career Path

From Actuary Student to Business Broker

by Hanna Hansen, ASREB alum

I was initially studying to begin my career in insurance doing actuary work. It is a difficult industry to get into because you have to study for hundreds of hours and take exams before entering the profession. I graduated from college with a degree in finance. I couldn’t prepare for the actuary exams during college to start a career right away, so it was only afterward that I spent months studying. I decided it just really wasn't the direction I wanted to go.

Real estate has always interested me. I spent years in college working in finance and economics, and it was a good application of knowledge to translate into the housing industry. I also like houses and liked the idea of buying and selling them. I looked up different real estate schools in Arizona, and the Arizona School of Real Estate and Business (ASREB) was the big one that was recommended.

As it turned out, I was connected with a unique opportunity through ASREB’s career fair to join a business brokerage. Like being an actuary, business brokers are centered on looking at all the numbers. The profession is about understanding financials and seeing where there are mistakes, where things can be fixed, and where problems may exist in financial statements and tax documents. It’s definitely something that I'm comfortable with, and it was only because of that career fair that I was able to work here in a business brokerage, where I got a job right after my classes at ASREB and the exams.

My Experience with ASREB

When I signed up for ASREB, I took the online course option via Zoom and picked the premium package.

There were some things about the content that surprised me, especially real estate and contract law. I didn't know that real estate agents could write their own contracts and that you didn't need a lawyer.

The professors were very nice and very helpful. They answered questions, explained the content really well in a way that I understood, and definitely prepared me for the state exam. I also liked that the people in my class asked a lot of questions that I had, too, and all of those were answered. Learning at ASREB was a very positive experience, and it prepared me not only for the school exam but also for the state exam finding a broker.

From Courses to My Career

When my course was over, ASREB hosted a virtual career fair for brokers, similar to speed dating. I met five or six different brokers for 15 to 20 minutes, and each was unique. It opened my eyes to how different each brokerage can be.

I met my broker online during the career fair. She runs a business brokerage and shared in her session that you need an Arizona real estate license to help someone buy or sell a business. I learned that the fees charged are higher than residential or commercial real estate, and it could take six months to a year to get a deal to go through. It was all very interesting and different from what I'd heard about residential or commercial real estate. She said a lot more math and financials were involved with being a business broker. Also, there's less competition. I was interested, and so I connected with her. I went to my interview with her brokerage, and they offered me a spot to work with them.

Advice for the Next Real Estate Student

For anyone considering the path of a real estate agent or business broker, I suggest being careful because there's no guarantee of income one way or the other. You've got to close a deal before you make any money, and it takes a lot longer to buy or sell a business than it does to buy or sell a house. If you're not ready to not make any money for months, then it's probably not the best fit unless you can support yourself through that. I'm lucky enough to work for my family's business when I need to, and my expenses are not very high since I still live at home. I'm very fortunate in my situation.

Life as a Business Broker

When I went to dinner to celebrate my new job with my boyfriend and family, I explained that a real estate agent helps someone buy or sell a house, and a business broker helps someone buy or sell a business. There are a lot more people involved, and the transaction is confidential.  

Getting started in a new profession is always like a trial by fire. It's been a huge learning experience, and it's been positive for me. My work is different every day. Some days, I'm looking at financial statements. Some days, I'm working in Excel. Some days, I'm talking to buyers all day. Some days, I'm not doing any of that, and it might be something different.

I am very fortunate because my job came from an opportunity I didn't know existed. And it was because of ASREB that I came across it. Working as a business broker has been something I've enjoyed, and I’m excited to learn more about this profession every day.