So you may be considering becoming a real estate agent. Great! Really, it's a great career choice! No doubt, real estate is a booming industry, and there's always a demand for qualified agents. But how to become a real estate agent?
In this blog post, we'll give you a step-by-step guide.
To become a licensed real estate agent, you'll need to meet certain requirements. From state to state, these requirements may differ, but most will require you to be at least 18 years old (depending on the state), have a high school diploma or equivalent, and successfully complete a real estate pre-licensing course.
Once you've met these requirements, you'll need to pass your state's real estate licensing exam. This exam will test your knowledge of real estate law, principles, and practices. Once you've passed the exam, you'll officially be a licensed real estate agent!
How to become a real estate agent?
Pre-licensing course
First, complete a pre-licensing course. These courses vary in length and price, but they all cover the same basic material. The course will teach you the basics of real estate law, ethics and principles, properties, the real estate market, and how to analyze data.
The cost of pre-licensing courses depends on the school and state. Generally, the course cost range is between $200 and $1000.
Please take a look below at how many hours of necessary for prerequisite education to obtain a real estate license:
California--- 135 hours
Ohio---------- 120 hours
Florida------- 63 hours
Georgia------ 75 hours
New York---- 75 hours
New Jersey--- 75 hours
New Mexico-- 90 hours
Register for the state's real estate licensing exam
So, you have completed your pre-licensing course. You are confident enough now, right? What next? Apply to take the exam.
In most cases, you must register for the test through a third party like PSI Exams.
Pass the licensing exam
This test willcover national and state principles and laws.
There will be approximately 100 multiple choice questions.
Passing scores differ from state to state. But in most cases, passing scores require a minimum of 70% to earn your license.
Exam duration is between 1.5 and 3.5 hours.
The exam fee is between $15 and $100 (varies from state to state).
Apply for your real estate license
After passing the licensing exam, you need to follow the following steps.
Pay the license application fee (application fee is between $50 and $250)
Apply for the license.
Submit your licensing exam test result.
Now things to remember:
To get a real estate license, you should have a GED or high school diploma.
In many states, you need to be an in-state resident and have the authorization to work in the US before applying for a real estate license.
After applying, it will take one week to two months to process the license.
Work with a real estate broker
Congratulations! Finally, you have a real estate license—but still, there is one more step. Please have patience.
Some states require you to work under a real state broker who will sponsor you for two to three years as an agent.
You may ask me what a real estate brokerage is? A real estate brokerage is a business that acts as an intermediary between buyers and sellers of real estate. It typically has a network of agents who work with clients to buy or sell properties. The brokerage typically receives a commission for each transaction.
Experts' Tips: Before finishing your training program, choosing a broker is a great way.
I think now you don't have any doubt about how to become a real estate agent. What do you say?
Interview questions for the real estate agents
1. What experience do you have in the real estate industry?
2. What makes you want to be a real estate agent?
3. What do you think are the most important qualities for a successful real estate agent?
4. What do you think are the biggest challenges faced by real estate agents?
5. What do you think sets you apart from other real estate agents?
6. What do you think are the most important things that clients should look for in a real estate agent?
7. What do you think are the most important things that real estate agents should do to be successful?
8. What is your process for working with clients?
Prepare yourself for the real estate agents' interview questions by taking a preparation of the above questions.
Pros and cons (merit and demerit) of becoming a real estate agent
There's no doubt that real estate can be a lucrative career. But is it worth all the time and effort? Let's take a look at some of the pros and cons of becoming a real estate agent.
On the plus side, real estate agents can make a lot of money. According to the Bureau of Labor Statistics, the median annual salary for real estate agents is $48,340(May 2021). And the top earners can make well over $100,000 per year. Besides this, you get to be your own boss and set your own hours.
On the downside, it can be a tough business. You're often working long hours and weekends, and you're constantly hustling to find new clients. Plus, you don't get paid unless you sell a property, so there can be a lot of financial insecurity.
People also ask (FAQ)
Question: What skills real estate agents should have?
Answer: Real estate agents must deeply understand the housing market and trends. They should also be skilled in negotiation, have a good network of contacts, and be able to build rapport with clients. Excellent verbal communication skill is also required. These are the core skills a real estate agent should have.
Question: What is the average commission for real estate agents?
Answer: The average commission for real estate agents is typically around 5-6%. This commission is typically split between the buyer's and seller's agents, with each agent receiving 2.5-3% of the total sale price. For example, on a $200,000 home, the buyer's agent would receive $5,000-$6,000, and the seller's agent would receive the same amount.
While the average commission is typically around 5-6%, it can vary depending on the situation. For example, the commission will be lower if the home is sold without a real estate agent. Additionally, some agents may charge a higher commission rate, depending on their experience or the location of the home.
Question:How often do real estate agents sell houses?
Answer: The answer to this question depends on several factors, including the agent's location, the type of housing market, and the agent's experience. In a typical year, the average real estate agent will sell about 10-12 homes. However, some agents sell far more than this, and some sell far less.
Question: How to be a real estate agent without a degree?
Answer: There are a few ways to become a real estate agent without a degree. The first is to find a real estate broker who is willing to sponsor you. You will need to take a few courses and pass a state exam, but this can be done without a degree. The second way is to become a real estate appraiser. You will need to have a high school diploma or equivalent, but you can get on-the-job training to become an appraiser. The third way is to become a real estate developer. This requires experience in the field, but you can get started without a degree.
Question:How to become a real estate agent in California?
Answer:To become a real estate agent in California, you must complete a few steps. First, your minimum age has to be 18 years or above. Secondly, you must complete an approved real estate course (135 hours) of study. There is a total of three courses within this 135 hour. Each one is 45 hours. You must pass this each pre-licensing course (the pass mark is 70% for each course). After completing the course, you must pass the California salesperson licensing exam. There will be 150 multiple-choice questions, and the minimum passing score is 70%. At last, you have to choose a sponsoring broker to begin your new career. Good luck.
Question: How can you be a real estate agent in Florida (FL)?
Answer: The real estate market in Florida (FL) is booming, and there is a high demand for qualified agents. Please give attention to the steps mentioned below to become a licensed real estate agent in Florida and start your career in this exciting field.
Eligibility:
Age has to be 18 years or above.
You need to have US a Social Security number.
You need to hold a high school diploma or its equivalent.
Steps:
Complete 63 hours of state-approved real estate course.
Pass the course final exam (passing score is 70%).
Complete the fingerprinting to the DBPR and background check process.
Submit a license application to the Florida DBPR. When your application is received, you will get a notice from the Department of Business and Professional Regulation.
Then you have to pass the Florida licensing exam.
This way, you can become a real estate agent in Florida (FL).
Wrap up
Yes, we are near the end. Please, a couple of seconds more. There is one more important thing that you need to know-don't forget to renew your license periodically before it expires. Generally, you need to renew your license every two or four years. It depends on the state's requirements.
Is there anything more? Hmm, no. So, this is all about today on how to become a real estate agent.
