Getting your real estate license can seem like a complicated and expensive process. Getting certified as a real estate agent is pretty simple and much cheaper than you expect.
Getting your real estate license requires that you meet education, work experience, and testing requirements to be licensed by the state as a real estate agent (or broker) and conduct real estate transactions on your behalf.
However, achieving your license as a real estate agent can take some time and dedication. Get familiar with the details below so you’re prepared to tackle this process.
Why Should You Get Your Real Estate License?
Getting your real estate license is a significant investment. Licensed real estate agents can earn a lot more than people who don’t have real estate licenses. The average annual salary of a real estate agent is $68,000 per year, while the average annual income of a non-licensed salesperson is $33,000.
So, getting your real estate license can help you earn significantly more. Additionally, it’s important to note that real estate agents with licenses are often in high demand. This means that you’re likely to be able to work more and have more career options available to you if you obtain your real estate license.
Getting your real estate license is the best way to break into the field if you’re interested in the real estate industry. It’s a complicated process, but you can do it with the right amount of dedication, research, and guidance.
How to Become a Real Estate Agent
The first step to becoming a real estate agent is to determine which type of real estate agent you want to be. You can become a real estate agent in two ways: A licensed Real Estate Salesperson or a Licensed Real Estate Broker. Licensed Real Estate Salespeople are REALTORs.
Realtors are real estate agents who are members of the National Association of REALTORS® (NAR). NAR has strict professional standards for its members.
The Pre-Licensing Requirements
You’ll need to meet pre-licensing requirements to get your real estate license. This ensures that each real estate agent is qualified to conduct real estate transactions. All real estate licensing boards have similar pre-licensing requirements, so this process should be consistent across the country.
The pre-licensing requirements are a high school diploma or GED, a driver’s license, and being of legal age to work. Additionally, you’ll need to have a few years of work experience.
The type of work experience you need depends on your field of study. If you majored in accounting, you’d need two years of work experience. If you majored in marketing, you’d need one year of work experience.
The Costs of Becoming a Real Estate Agent
The costs of becoming a real estate agent vary based on your situation, but they don’t need to be prohibitively expensive. Keep a few different costs in mind as you pursue your real estate license.
The cost of your classes: The cost of real estate classes varies depending on the school you choose to attend. It can range anywhere from $1,000 to $4,000 or more.
The cost of your exam(s): The cost of taking your real estate license exam(s) varies depending on the state in which you are attempting to obtain licensure. It will also depend on the type of exam you take.
The Steps to Getting Your Real Estate License
You’re ready to begin the licensing process if you’ve met the pre-licensing requirements. While each state has its real estate licensing process, specific steps are relatively consistent. Apply for your real estate license:
The first step to getting your real estate license is applying for a real estate license through your state’s licensing board. Complete your licensing coursework: Once you’ve applied for your real estate license, the next step is to complete your state-mandated licensing coursework.
Take your licensing exams: Once you’ve completed your licensing coursework, the next step is to take and pass your licensing exams. The type of licensing exam you take, and the number of times you have to take it, will depend on your state.
Final Words: Bottom line
Getting your real estate license is a big step and can be an exciting process. It’s essential to be aware of the costs associated with the process and the pre-licensing requirements so that you can get started on your coursework and exams as soon as possible.
