A career in real estate might be something that you have always wanted, and it is easy to see why. The experts at Exit Real Estate Consultants say there are many benefits to working in the industry. However, they also say that it is not as easy as it may first appear. To be a real estate agent, you need to be prepared to work hard and often at unsociable hours. You need to work around the times that clients are available, which does not normally fit into the 9-5 mold. Having said that though, the benefits of working in this industry are many.
Having the flexibility to set your own hours means that you can work around other commitments, such as family. And when it comes to earning potential, the sky really is the limit. The more houses you sell, the more commission you can make. The flip side of that is that there may be times when earnings are lower if sales are slow.
What Do You Need to Become a Real Estate Agent
If you are still keen on getting started in the industry, you should know that you must be a minimum of 18 or 19 years of age (this will depend on the state in which you live or plan to work in). There is no national real estate license, so you will need to check with your state in terms of requirements.
You will need to complete a set number of pre-licensing hours before you can sit a real estate examination. Many real estate licensing schools offer online courses as well as in-person classes. Again, the number of hours you need to complete will be determined by the state in which you will practice. The good news is that some states have agreements with others, allowing those with a real estate license to practice in those reciprocal states.
Upon completion of the required coursework, you can apply to take your state real estate licensing exam. The exam is split into two sections. The first is dedicated to general practices and principles of real estate and then there is a section with questions on the real estate laws for the specific state. You must pass both sections of the exam to get your license. If you fail one section, you must retake the exam.
Upon passing the exam, you can apply for your license. You will need to submit any necessary documentation with your application and pay a fee. You must wait to receive your license certificate before starting to practice.
With certificate to hand, you will be eager to get going and start earning an income. But how do you go about this? Most people will consider joining a brokerage before venturing out on their own. You might want to think about becoming a realtor before you apply to join such a brokerage. This means joining the National Association of Realtors® (NAR). When you become a member of NAR, you can use the title realtor, which will give you more credibility as well as access to the Realtors Property Resource (one of the biggest online databases in the country).
Being a member of NAR will also improve your chances of getting into a reputable brokerage. Working for a brokerage usually means paying expenses such as desk and tech fees. You might also need to pay for marketing materials and business cards, but you will benefit from immediate access to customers. In addition, when you work for a well-established brokerage, your earnings potential will increase because of the increased services a brokerage can provide for customers.