Starting your journey to becoming a real estate agent is one of the best decisions you can make if you want to make lots of money and gain freedom. Helping people sell homes and buy houses is not only a lucrative career but also a fulfilling one. But like any other career path, joining over 2 million licensed real estate agents in the U.S. is not a walk in the park.
Requirements to becoming a realtor vary from state to state, and the state’s real estate commission determines them. So, if you’re wondering how to become a real estate agent, here is your complete guide.
Understand Why You Want to Become a Real Estate Agent
Every career path has a motivation behind it, and believe it or not, money can’t be your only motivation. Real estate careers mean more flexible hours and good earning. But success doesn’t come overnight, so you need to put in more effort and time to achieve what you want.
Becoming a real estate agent is not all about going to school and getting certified. You need a good grasp of the local economy and the market. You also need to be an outgoing person who can connect with clients and different professionals in the real estate industry.
You must be willing to become a market expert as that will help you sell many houses and make a good commission. You should be able to guide clients to the right neighborhoods, take part in selling negotiations, and hold a sale when the market is not right.
Research How to Become a Real Estate Agent in Your State
As a realtor, you need to understand your state’s requirements, including licensing and education requirements. You can get a lot of information on the requirements by searching your state’s real estate regulatory website. You can do your search online or visit the regulatory agency directory of your Real Estate License Law Officials (ARELLO).
When it comes to education requirements, you don’t need to panic because no one needs you to have a degree as a realtor. Many colleges do not require an equivalency to enroll you for a real estate agent course. But you must be 18 or 19 years of age to become a licensed realtor in your state.
Start With a Pre-Licensing Course
Once you complete your research, it’s now time to take the bold step of enrolling in a course. Enroll in an accredited real estate licensing school in your estate and start a great journey to becoming an excellent realtor. The number of hours you’ll study to graduate vary with states.
You can either enroll in online classes or physical real estate schools. Choose a top real estate school and a class program that will save you money and time. You have to shop around and get a learning style and schedule that works for you.
Make sure you take your time and be selective enough when choosing your programs. Consider the quality of instructors and the materials that prepare you for the final exam.
Pass the Real Estate Agent Exam
Your specific state will issue license exams. You’ll be examined on negotiation, working with clients, following the real estate law, and closing deals. The pre-license course will prepare you with everything you need to pass this examination.
Your state also sets the minimum score for passing your real estate exams. Some states require a 70% minimum score, while others need a 75% score. If you don’t reach the minimum score, some states will allow a retake.
Get Your Real Estate Agent License and Become a Realtor
If you pass your real estate agent exams, you’ll be qualified for licensing. You’ll need to submit your application by submitting specific documents and paying a given fee to your state’s real estate agency.
Once your license is approved, you’ll get your certificate. Your name will be available in the list of licensees in the United States. The certificate may take some time to come out, but you should not start practicing before getting it.
You can join the National Association of Realtors (NAR) and subscribe to their Code of Ethics. This is the largest trade association in the U.S., with more than 1.3 million licensed members. The members consist of brokers, property managers, salespeople, counselors, appraisers, and everyone involved in the real estate industry.
Work With a Licensed Broker
To start practicing your career as a real estate agent, you need to start working with a broker. Working under a broker helps you get traction on the market and understand how things work. You can either choose a traditional or a non-traditional broker to gain experience.
A period of six months to a year under a broker will be enough for you to learn the ropes. You’ll learn how to meet client needs, negotiate, hold open houses, and close deals. The key here is to get the experience that will help you run your own real estate agency.
Start Your Real Estate Agency
When you start working under a broker, you’ll be getting paid on commission. This means you’ll not be bringing big bucks home as your salary depends on the deals you close. You must look at your assets because you’re going to need them to start your firm.
You should be ready to dig deep into your pockets to establish your agency. You’ll have to work for some time and close a few deals before you can start taking some good money home. If you don’t have the assets to get started, work for a brokerage that pays on a salary basis or consider getting a side hustle.
You’re Ready to Become a Real Estate Agent
Learning how to become a real estate agent will take time, dedication, and effort. But once you get your license and start practicing, you’ll indulge yourself in a flexible and valuable career. You’ll choose the hours and days that you need to work and select your clients.
You also need to learn how to acquire clients as a realtor and all the nitty-gritty details that go into owning a real estate agency. We’ve got you covered with more information about real estate. Keep reading our posts.