Are you looking into becoming a real estate agent? Well, if the answer is yes, then you are in the right place. In the past couple of years, the real estate industry became extremely popular. Just between 2020 and 2021, there was a massive 60% increase in people that acquired a real estate license. The job of a real estate agent brings with it many benefits and varieties. Real estate agents can set their own work hours and choose their clients. Additionally, the salary of a real estate agent has serious potential to grow fast. It all depends on you as an agent if you want to work more to progress faster. On average, a salary in 2023 has reached around $100,000.
In this article, we will give you a step-by-step guide to becoming a successful real estate agent and more. So, if you are interested, let’s begin.
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How to Become a Real Estate Agent
Becoming a real estate agent is a process that has several steps which you will need to complete. That being said it will take you anywhere from 2 months to 5 months on average to get your real estate license. Now, here is everything you need to know about becoming a real estate agent.
1. Research is Key
Doing the necessary research is the most important thing before you decide to do anything. You will need to find out the necessary requirements for becoming a real estate agent in your state. This is crucial because they can vary from state to state. For example, when it comes to the required amount of education hours, the difference can be quite substantial. The state of Texas requires 180 hours, while the state of Illinois requires only 15 hours. Additionally, you do not want to pick any real estate course. Make sure that you find one that is accredited by your state. Passing a criminal background check is also a requirement. Lastly, you will have to be at least 18 years of age or older and you need to have a permanent residency in the state that you are applying in.
It is important that you also do more research to see if there are any additional requirements that you need to meet before you begin.
2. The Pre-Licensing Course
When you finish researching, it is time to find an accredited course that will allow you to get yourself a real estate license. No matter the state, this step is mandatory. Taking a pre-licensing course will cost you approximately $350. That being said, there might be some cheap courses out there, but they are probably not accredited and will not provide you with the necessary knowledge to become a real estate agent. Additionally, as we mentioned already, find out the necessary amount of course hours that you are required to complete before you can take the final exam.
Finally, you will have the option to do the lessons in a classroom or online. The choice is yours, however, if you have an abundance of free time, an online approach is much better as you can complete the classes faster.
3. Taking the Final Exam
After you finish the necessary course hours you are ready to take the final real estate exam. Delaying the final exam is not something that is recommended as you will have a higher chance of passing the sooner you apply. However, depending on where you live, you will either have to take the exam right away or you will have to wait a few days. No matter what, make sure that you are ready to pass the exam. It will consist of approximately 100 multiple-choice questions and you will have to answer 70% or more correctly to pass the exam. The test itself will be held at specified locations and you will be informed where it is and when. Additionally, there is an examination fee you will have to pay. This fee will be approximately $50, but it may differ depending on the state.
Lastly, if you fail or miss the exam, do not worry as you will have another chance. Depending on the state, you will have additional chances to pass the exam. This can be anywhere from five or more chances or in some cases only one or two.
4. Applying for a Real Estate License
Now that you have passed the real estate exam, the only thing left to do is to apply for the license.
To apply for the license you will have to submit the test results together with your application. The application fee you will have to pay is anywhere from $50 to $250 again depending on the state you live in. Additionally, as we mentioned already there is a necessary background check for which you will have to pay between $40 and $100.
Lastly, when you finish applying, you will have to wait anywhere from one week up to two months before you get your license and start your real estate career.