How To Become A Real Estate Agent

How To Become A Real Estate Agent

If you’re interested in becoming a real estate agent, you could have a long and prosperous career ahead of you. But becoming a real estate agent isn’t as easy as it sounds. The process could take about six months long, and the road to success takes time. Find out more about what you need to do to become a real estate agent.

Know the Requirements

Every state has its own requirements for real estate agents. Before you begin your journey, you should understand the path to obtaining your license. There is no such thing as a national real estate license, so the licensing is up to each state. You can find the specific requirements on your state’s real estate regulatory website.

Depending on your state, you could have all of the following requirements:

Have a diploma or GED

Be a minimum age

Complete real estate courses

Pass an exam

Once you have your license, you might need to undergo continuing education courses. Because real estate is always changing, you need to stay in the know at all times.

Get Licensed in Your State of Choice

To save yourself the hassle that comes with reapplying for a license in a different state, you should seek out licensure in the state you plan to practice. Some states, like New York, have agreements with other states and real estate agents don’t need to have multiple licenses. If you have a license in New York, you could practice in Colorado, Massachusetts, and a few other states.

If you plan on moving to a new state, don’t waste your time getting licensed in your current state. It’s usually possible to get licensed in a state even if you don’t live there yet. Once you decide where you want to be licensed, you can start meeting the requirements.

The Pre-Licensing Course

In all states, you need to take a pre-licensing course. The price of the course varies but is usually around $350 or more. Although there are many real estate schools offering the course, not all programs are equal. Make sure you find a program from an accredited school.

Before you sign up, check into the reviews. Your course should prepare you well for the real estate exam. If a course has multiple negative reviews, look into another option.

The length of the course varies by state. For instance, in Florida, you need to take 63 hours of real estate classes before you can take the exam. In California, you must take at least 135 hours of classes. It’s usually acceptable to take the classes virtually.

Passing the Exam

During your real estate classes, the instructor will explain how you can schedule the exam. The cost ranges anywhere from $100 to $300. Always on the computer, the real estate exam comes in two parts. First, there’s a national portion that applies to countrywide real estate practices. Secondly, there’s a state portion that covers state laws.

The exam has multiple-choice questions and a time limit. Each of the two sections receives its own score, and you need to receive a high enough score on both sections to receive your license. If you fail one or both parts of the exam, you need to retake the entire exam. There could be restrictions, like waiting a certain amount of time to take the exam or the number of times you can take it.

Activating Your License

If you pass the real estate exam, you can move on to getting your license. The process requires you to submit documents and filing fees. On average, it costs between $200 and $400 to pay for the license.

Once the state approves your application, they mail you the real estate license. When someone searches your name on the database of licensed real estate agents, they should be able to find you.

Picking Your Path

After you receive your license, you have a difficult decision to make. For one, you need to decide if you want to become a realtor. A realtor is someone who is a member of the National Association of Realtors. To become a realtor, you need to pay the membership cost of $185.

As a realtor, you get access to business tools, real estate data, and educational programs. You also receive access to the Realtors Property Resource, a real estate database.

The Broker Route

If you want to work as a real estate agent, you need to work under a broker. The broker oversees all the transactions and makes sure you follow state and federal real estate laws. When you sell a home, you receive a partial commission from the proceeds and the brokerage also receives a commission.

In some brokerages, there are fees you need to pay. While these fees vary, they range from $20 to $500 per month. When people think about real estate, they don’t often realize the high cost of testing and monthly fees.

Marketing Your Services

Once you become a real estate agent, you need to start looking for clients. Your brokerage might be able to give you some guidance, but you still need to find your own clients. You can start building up a client list by reaching out to friends and family, online marketing, and cold calling.

As a real estate agent, you can obtain a long list of short skills. It takes great communication, digital marketing, and detail for someone to be successful. Even if this isn’t your long-term career goal, being a real estate agent could open new doors.

Is Real Estate Right for You?

If you’re looking to get into a career that lets you work for yourself, real estate is a great option. Someone who loves working with people and who has a knack for developing rapport could thrive as a real estate agent. However, make sure you know your market. Some areas are saturated with realtors, and this could make it challenging to get started. But, where there’s a will there’s a way. Do your research, and embark on a career path that could take you to amazing places.

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