Are you considering a career in real estate? Are you unsure of how to start the process? Becoming a real estate agent is not as easy as it may sound, and to be a successful one, you have to follow some must-know guidelines before you can begin.
These involve adhering to state requirements and taking part in a number of exams. To help, we plot out the real estate agent requirements in 5 easy steps.
Check State Agent Requirements
Each state has different real estate laws, and as such, they have different requirements for agents. Each state should have a real estate regulatory website, that will give you all the information you need. Start pursuing the requirements as early as possible, so you are fully equipped and knowledgeable about what is expected.
You may find that you are lucky enough to be in a state that has a reciprocal license agreement. That means that your real estate qualifications can be used in another state also taking part. There is no national license for being a real estate agent that will cover the whole country.
Pre Licensing Courses
Before you even sit the main exam, you have to take a pre-licensing course. This will cost $300 or upwards, depending upon the state. The number of hours required will also vary.
Luckily, many of these courses are extremely flexible, allowing you to work online, at actual colleges, or in your own schedule. Certain methods may also cost less than others, saving you money.
The next step is to take the real estate license exam. This will be easily organized by your class instructor from the prelicensing course, and they should be able to tell when you are ready. Just like the pre-license, the cost to get a real estate license can be upwards of $300 depending upon the state.
The exam will be done on a computer and be in two parts. The first will be a national test on general real estate. The second half will be state-specific.
Become a Realtor
While not essential, becoming a realtor adds a mark of trust and experience to your name. A realtor is actually different from a real estate agent. Becoming a realtor involves joining the Association of Realtors, and in doing so you sign up to its rules and codes of ethics.
Join a Brokerage
The final step is to sign up with a brokerage. The brokerage will pay you a commission from the sales it makes from anything you have sold while working under it. Your brokerage will be overseen by a state authenticated supervisor, who makes sure that everything going on is above board and legal.
You may have to pay fees to rent a desk and put money towards marketing materials. However, the knowledge and safety a brokerage gives are indispensable, especially in the first few years in the job.
Do Your Research
Once you have fulfilled the agent requirements, start to do your research. Every area of each state is different, with various properties and prices. Stay on top of the game to be the best agent you can.
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