"Life moves fairly rapidly," as Ferris Bueller put it. You might miss it if you don't take a few moments to look around."
So, if you're finding that the days are passing you by and you're not making much progress in your work, it may be time to make a change.
And if you've always wanted to work in real estate, you're in luck: becoming a sales agent is now easier than ever!
Requirements To Become A Real Estate Agent In General
To become a licensed real estate agent, you must meet the following requirements:
- You must be a legal resident of the United States.
- You must be at least 18 (or 19) years old (depends on your state)
- Complete the pre-licensing coursework required by your state.
- Obtain a passing score on the state and national real estate exams.
These are only a few of the most prevalent specifications. Each state might have its own set of rules. As a result, I propose that you start by looking into your state's licensing requirements.
Step 1: Find Out What Your State Requires
Understanding your state's particular regulations for acquiring a license should always be the first step in becoming a real estate agent. Gather information regarding pre-licensing courses, the real estate exam you'll need to take, and license fees from your state's real estate commission website.
Every agent's path to becoming a real estate agent is unique. Many states, for example, allow licensed attorneys to practice real estate without having to go through the traditional licensing process. In some areas, a college diploma can be applied toward your pre-license education requirements.
Before obtaining your pre-license course, check with your state to see if there are any unique requirements or exclusions for you.
Step 2: Select A Pre-Licensing Real Estate Course
After you've learned about your state's requirements, you'll need to enroll in a pre-licensing course at a recognized real estate school. These courses will help you prepare for the real estate exam and for working as a real estate agent in your state.
You must choose between taking your pre-licensing course online or in person. You can usually earn your license far faster with an online course than with an in-person session. They are also frequently more suitable for those who have a full-time job and wish to study on a flexible timetable.
Look for a real estate school that has been approved by the Commission in your state. Check at the school's reviews to determine if it has a solid reputation and a high pass rate. If a real estate school does not reveal its pass rate, look for one that does.
You will be required to complete hourly pre-licensing course requirements in many states. The Texas Commission, for example, demands 180 hours of pre-licensing work, whereas North Carolina just requires 75. To find out what your state's requirements are, contact the Commission.
Most states, on average, require some variation of the following courses:
- Principles of Real Estate
- Appraisal of Real Estate
- Contract Law Real Estate Law
- Practice of Real Estate
An authorized license course can cost anything from $200 to $1000. Real Estate Express, Kaplan, and Aceable Agent are some of the best online real estate courses.
Step 3: Pass The Real Estate Licensing Exam
Of course, passing the state exam is the most important step in becoming a real estate agent! To aid you, your license course should include plenty of study resources and practice exams. Use whatever resources you can to study and prepare ahead of time.
If you don't pass your real estate licensing exam the first time, don't panic; you'll have many chances to repeat it over the course of two years. If you still fail after that, you must complete a pre-licensing course again.
Instructions on how to register for the real estate exam in your area can be found on your state's commission website.
Approximately one hundred multiple-choice questions are normally included in the exam. It will go over federal real estate legislation as well as state-specific rules and restrictions. It normally costs between $15 and $60 to take it.
The minimum passing score for the real estate exam varies by state, so check with your state's commission for more information. However, the needed passing score will be between 60% and 75% on average.
Step 4: Get Your License Activated
You'll need a copy of your results and a certificate of completion from your pre-licensing course once you pass the licensing exam. Then, together with your real estate licensing application, you'll submit these documents to the state to receive your license.
Depending on the state you live in, the application process differs. Other tests, such as a background or fingerprint check, may be included, which can take longer to perform.
The cost of a license application can range from $50 to $250. The time it takes for your application to be granted is also determined by the state in which you live.
Some states have an automated system for submitting application materials, while others still use the postal service. In general, you may expect your official license to arrive within one to two months.
You will be required to renew your license on a regular basis. The frequency with which you must renew your license is determined by your state. Your license will most likely need to be renewed every two to four years.
Step 5: Think About Becoming A Licensed Real Estate Agent
It is optional to join the National Association of Realtors, although it can be quite useful for a rookie real estate salesperson. You'll be able to utilize the title "Realtor" for the first time. This will give you a lot of credibility and improve your client's opinion of you.
You'll also need to join to gain access to most MLS databases, which are essential if you want the most up-to-date information about properties in your region. Discounts on continuing education classes, access to NAR's digital and printed content, and networking opportunities are among the other benefits.
The National Association of Realtors has approximately 1,400 chapters around the United States. To get involved, go to their website and look for your local chapter. To become a licensed Realtor, you must complete an application (usually with your local board) and pay a $150 yearly membership fee (prorated for your first year).
Step 6: Become A Member Of A Brokerage
You must join a real estate agency in order to practice real estate as a fresh new sales agent. Brokerages are regulated by the state in order to ensure that legal and ethical standards are followed in the real estate market.
Another advantage of joining a real estate broker is that if you choose the proper one, your name will gain greater reputation as a new real estate agent.
It's a good idea to talk to a broker before taking the real estate exam to get a head start. This way, you'll have a job waiting for you as soon as you have your license.
Begin your search by interviewing several brokerage firms to see which one is the best fit for you. There are well-known brokerages, such as eXp Realty and Keller Williams Realty.
Real estate brokers with a well-known name may be better off starting out as a brand new salesperson, but joining a boutique real estate broker might also be an excellent option.
Select a real estate brokerage that specializes in the area of real estate that you wish to work in. There are brokerages that specialize in commercial, luxury, and residential real estate, for example.
Every time you close a trade, your broker will take a cut of your commission. This is all the more reason to take your time while looking for a real estate broker that shares your values and personality.
Don't merely look for a real estate broker that has the most favorable commission split for its agents. Instead, look for a job where you will truly enjoy working. Find a broker who will assist your career with tools, training, and mentorship. Your goal should be to join a brokerage that offers the maximum value to its agents.
Most Commonly Asked Questions
Is It Right For You To Become A Real Estate Agent?
Your decision to work as a real estate professional should be based on your personal career goals and skills. You must be self-accountable, resourceful, and have a desire to serve others to make becoming an agent worthwhile.
As a rookie salesperson, you probably won't have much control over where you work or with whom you work. Talking to a local broker or shadowing a real estate agent is the best method to figure out if becoming a real estate agent is right for you.
What Can a Real Estate License Get You?
You can assist clients purchase, sell, and rent real estate in your state if you have a real estate license. Residential, commercial, investment, and land are all included.
If you desire to lead or manage other agents in the field, you can become a designated broker (a position that most states demand 4 years of industry experience).
What Is The Average Time It Takes To Become A Real Estate Agent?
To become a real estate agent, it usually takes between 2 and 6 months. The actual length of time depends on how soon you can finish your real estate classes, pass your licensing exam, and select a broker.
How Difficult Is It To Obtain A Real Estate License?
It is not difficult to obtain a real estate license. It merely has a few simple stages that may be accomplished quickly. When you have your license and start building your business, the true challenge begins.
How Much Does It Cost To Get A Real Estate License And Work As An Agent?
Getting a real estate license and becoming a real estate agent often costs between $1000-$1500. Pre-license classes, the licensing exam, activating your license, and your broker's initial join charge are all included.