7 Steps to Earning Passive Income
This post has been tailored for real estate professionals. If you are an electrician or plumber, please click here.
Have you considered taking your unique knowledge and experience to the next level and teaching Continuing Education to those in your field who could really use your expertise?
Here’s how to do it….
The first step is to create your content. For educational content to be approved by the Louisiana Real Estate Commission, courses need to offer a minimum of 2 hours, which translates to 45 minutes of video content per hour. Your class can be on any number of relevant real estate topics, including the following examples:
- LREC Mandatory courses
- Finance and Taxes
- Environmental Quality
- Federal Laws such as Fair Housing & HUD
Step 1 Create Your Script
Research your topic, draw on your experience in the field, and utilize the available legal resources, such as NAR, to write the script for your class. Take advantage of other industry professionals and colleagues to provide quality feedback on what you’ve developed.
Step 2 Film Your Script
Now, with script in hand, go to a professional videographer to bring your content to life. Here are a few recommendations in Louisiana. If you don’t want to use one on our list, just google around to find a studio near you.
While in the studio, you’ll stand in front of a green screen and ‘teach’ your script from a teleprompter.
Step 3 Edit Your Video
Once the filming is done, it will be edited, in most cases by the same studio which filmed the project. This is where all the magic happens. This could include:
- Animations or graphics,
- Regulatory or statutory content,
- Infographics, or
- Background soundtrack.
Step 4 Create Your Questions
After video completion, you’ll want to develop 30 questions, per every one hour of content.
Step 5 Send Your Videos and Questions to StateReporting.com
When your video is done, contact StateReporting.com to create an education provider account so that you can submit your video and questions to us.
We now create your online class in our Learning Management System (LMS).
Within a week, we’ll give you login credentials so you can make sure the course flows to your liking.
Step 6 Start the Certification and Approval Process
The next step is to obtain your Certified Distance Education Instructor Designation (CDEI) from the International Distance Education Certification Center (IDECC), a subsidiary of ARELLO. This two-part certification course costs $420 and can be completed at your own pace. This program’s education courses are intended to assist new instructors with creating engaging content. You may want to take this step concurrently while creating your content.
After completing your CDEI Designation you will apply to have your first course certified with ARELLO. Getting your first course approved with ARELLO will also grant you approval as an education provider. This step costs $865 for the course application fee and takes approximately 30 days for review and to obtain certification.
Step 7 Complete the Approval Process
Once you have received your ARELLO certificate, it’s time to apply to the LREC for approval. New vendors pay a $300 Initial Vendor fee with their application and once you receive vendor approval you may submit your online LMS course, along with the $75 fee to the state, including course and instructor. LREC audits your class and the moment you are approved, your course appears on the Course Lookup, where targeted buyers can purchase your class using any major credit card.
Your Work is Done!
Now it’s time to sit back, relax, and collect a monthly check for 70% of all enrollments!
Licensees register for your course directly from the Course Lookup. Your account manager will monitor your listing to maximize your sales, everything from your course description to your logo to your instructor biography. We handle all credit card processing fees, and any customer service or tech support questions students may have. Once license holders finish your class they are asked to leave a review and then have their hours automatically reported at StateReporting.com.
It really is that easy to earn passive income teaching and selling the expertise that you already have.
*Here is a rough summary of the time and expense that it will take to create a two hour course:
|Task||Approximate Cost||Approximate Time
|Create Script||NA||1 Week
|Professionally Film Content||$1,500||1 Week
|Professionally Edit Content||$500||1 Week
|Create Questions||NA||1 Week
|Get ARELLO certification for Instructor and course||$1,285||1 Month
|Submit to SR for course build||NA||1 Week
|Get LREC approval||$375||6 Weeks
*Times and expenses are speculative
Still have questions? Call us today at 855-261-9808!