How to Become a Real Estate Agent
Making the decision to become a real estate agent is a significant professional change. People enter the real estate sector from a variety of industries, careers, and phases of life. Everyone has distinct motivations for selecting real estate as their greatest career option. However, one question that prospective real estate agents frequently ask is, “How can I become a real estate agent?”
It mostly depends on where a person wishes to practice real estate. A state license is required to become a real estate agent. Each state oversees its own real estate licensing procedure, and the regulations or guidelines range differently from one another. However, there are a few basic criteria that are always consistent when beginning a real estate business.
Is Becoming a Real Estate Agent the Right Career Path for You?
The first step in this procedure is to determine whether or not real estate is suited for you. Every day as a real estate salesman is spent working for you. This includes maintaining your own office, paperwork, soliciting leads, creating connections, managing contacts, and interacting with buyers and sellers.
The compensation range of a real estate agent is determined by the number of properties sold and the commission % on those transactions. This type of compensation is known as performance-based commission. According to the Department of Labor, the average real estate agent earns roughly $62,990 (2020).
Reach out to local real estate agents and brokers and ask them about their day-to-day jobs. Inquire about real estate as a long-term employment option. Starting a full-time job as a real estate agent is not a pastime. It necessitates total dedication.
What Can a Real Estate License Get You?
Getting your real estate license pens the door to more prospects in the housing business than just being a real estate salesperson. Here are some examples of real estate-related jobs:
Real Estate Broker: supervises a group of real estate agents.
Appraiser: Determines the worth of real estate.
Property Managers: In charge of overseeing and maintaining real estate properties.
Real Estate Investor: Similar to home flippers, buys and sells real estate properties for a profit.
Real Estate Attorney: Someone who prepares or evaluates the closing documentation for a real estate transaction.
Home inspector: Inspects the property’s condition before a purchase takes place.
Mortgage Loan Officer: A mortgage loan officer works with a financial institution to originate property loans.
Real Estate Photographer: Photographs the interior and exterior of commercial and residential real estate properties.
House Stager: Someone who makes sure a property appears its best for potential purchasers.
General Prerequisites for Becoming a Real Estate Agent
To become a licensed real estate salesperson or agent, you must first:
You must be at least 18 or 19 years old (depends on the state)
Possess lawful US residency
Complete your pre license education requirements.
Pass the state real estate licensing test.
These elements are the high-level requirements for becoming a licensed real estate agent. However, many decisions must be made along the road that will define your degree of success in your real estate profession.
How to Become a Real Estate Agent
To obtain a real estate license in any state, you must first complete the following steps:
1. LEARN ABOUT YOUR STATE’S REQUIREMENTS
The initial move in learning how to become a real estate agent is to look into the pre-license training requirements in your state. Because each state is different, it is critical that you pay attention to which courses are necessary in your state.
2. SELECT A REAL ESTATE SCHOOL
Choose an ARELLO-accredited real estate school that provides state-specific pre-licensing curriculum. You’ll also need to consider if an online school or a classroom setting is ideal for you. We’ve compiled a list of five crucial questions to ask while selecting a real estate school to assist you in making an educated selection.
3. FINISH YOUR PRE-LICENSING EDUCATION
Before taking the real estate license exam, all states need some type of pre-licensing study. The type and quantity of coursework required will depend on the state. Evaluate the price of your pre-licensing education in case you need to save money or obtain financing before beginning your real estate business.
4. PREPARE FOR THE REAL ESTATE PRE-LICENSING TEST
You must pass the pre-licensing test at the completion of your curriculum before you may take your state real estate exam. Many students select online courses, thus this test will also be available online. Even if you’ve been out of school for a time, don’t be put off by the prospect of preparing for an exam. After passing, you must get official transcripts or a certificate of course completion.
If you want further assistance, consider enrolling in a real estate test prep program that can assist you in studying state-specific information for your state real estate exam.
5. SCHEDULE AND APPLY FOR YOUR STATE REAL ESTATE TEST
Once you’ve completed your real estate pre-license curriculum, it’s time to take your state licensing test. The application cost is usually around $25. Find out when and where your state’s next real estate test will be held. Third-party testing centers are most commonly used to administer them. Make sure you acquire information about parking, hours, and any items you’ll need on exam day.
NOTE: Some states require you to be fingerprinted, undergo a background check, or carry Errors and Omissions Insurance before taking your state test. Before you take your exam, check with the testing facility to see what papers you’ll need on test day.
6. CHOOSE A BROKER
In order to take the real estate test, you may need to be sponsored by your broker in your state. Choosing your broker may occur at this point or later, once you have passed your exam and are ready to begin working. Choosing a broker to work with is one of the most important decisions you will make in your real estate career. Your broker may determine how much you earn, where you work, and what tools are available to help you progress in your career. Make sure you do your homework on this phase and pick a broker that genuinely understands your objectives. Get in touch with Barry Jenkins – Better Homes & Gardens Real Estate | Real Estate Agency in Virginia Beach, VA to be part of one of the top teams in America.
7. PASS YOUR STATE LICENSING EXAMINATION
One of the most critical stages on our checklist for how to become a real estate agent is to take and pass your state licensure exam. The licensure test has distinct passing standards in each state. Consider taking a real estate test prep course to help you ace your exam the first time.
8. PARTICIPATE IN PROFESSIONAL REAL ESTATE ASSOCIATIONS
After passing the exam and receiving your real estate license, you should join your state and local Multiple Listing Services (MLS), as well as the National Association of REALTORS®. These associations offer significant networking opportunities as well as educational tools. As a member, you will be able to attend national conferences and have access to useful information that will assist you in staying current on trends and best practices in your industry.
9. COMPLETE ANY REQUIRED POST-LICENSING REAL ESTATE EDUCATION
A few states require real estate post-licensing education to be completed within the first 6–12 months of obtaining your real estate license. Don’t let this slide through your fingers.
10. BEGIN YOUR REAL ESTATE CAREER
Once you’ve established all of your procedures, inform everyone that you’re in the real estate company. You’ll soon begin connecting with prospective buyers and sellers, and you’ll be in business! The moment you’ve been waiting for has arrived: your first transaction. Even if you are confident, it is always a good idea to have a more experienced agent review your work to ensure that you are providing the best service possible to your clients. When you’re finished, sit down, pat yourself on the back, and grin – you’re now a real estate salesperson.
