There are many advantages to becoming a real estate agent. Every day is different. You get to meet new people, be your own boss, and you have the potential to earn a great deal of money. You don’t need a college degree to become a real estate agent (though some agents have them anyway), but you do need a real estate license.
If you’re thinking about embarking on a new career and wondering how to get a real estate license, read on to learn about the steps you have to take.
1. Learn About Your State Licensing Requirements
While the licensing process is fairly similar across all 50 states, involving a pre-licensing course and a licensing exam, each state has its own particular minimum requirements. You will need to obtain a license in every state in which you intend to work, not just the state where you reside. Check into real estate license reciprocity; some states have mutual arrangements in place making it easier to obtain a license in one state if you already have a license in another.
2. Budget Wisely
The pre-licensing course and exam you must take all require fee payment to enroll. Save your money, plan ahead, and remember that licensing fees are separate from exam costs. There’s little wiggle room when it comes to the exam and licensing fees, but you can shop around for a pre-licensing course that fits your budget.
3. Take Classes
A pre-licensing course is required before you can take the licensing exam. You have many options: some courses require you to attend classes in a brick-and-mortar setting, while others allow you to take the course online and work at your own pace. Whichever option you choose, make sure the school is accredited and the course meets minimum state requirements, or your hard work will be worthless.
4. Sit the Exam
Your licensing exam will consist of about 100 multiple choice questions. Minimum pass grades are typically around 60 and 75 percent. The cost of the test is usually between $15 and $60 and will take somewhere between one to four hours to complete.
5. Apply for your license
Once you have successfully passed the test, you can apply for your real estate license. This will require another fee.