Become A Real Estate Agent

Become a real estate agentBecoming a real estate agent is not an easy thing to do, but being a successful real estate agent is much more challenging. Becoming a real estate agent requires time investment, education, passing state and national licensing exams and finding the broker that can help you get your first real estate client. But, that’s not all, this industry requires much more to be a successful real estate agent.

There may be difference between the requirements of becoming a real estate agent. No matter in which state you are, you need to take pre-licensing courses. For instance, California requires three college level courses. Other states like, Idaho, requires two courses totaling 90 hours. It is better to contact real estate commission of your state for licensing requirements.  Some real estate agencies have specific educational requirements. You may need to take some additional course when being hired by a real estate agency.  

Choosing a Brokerage

A real estate brokerage is the agency or firm from which real estate agents and brokers work. As a real estate agent, it is required to practice with a real estate broker. You will need to find a broker after completing your real estate education. Brokers have at least three years additional real estate training and they would answer the questions that may arise working in the field, as well as listing and selling home.

When selecting a broker, consider size of the brokerage, its reputation and additional training offered. It is suggested checking reputation of broker by reading online comments, asking friends and family members if they have interacted with that broker. Getting advice from your instructor may be helpful as well.

Another way to learn more about a brokerage is by carefully crafting your interview questions. This will not only help you gather information, but solid interview questions help the broker determine if you’d fit in well with the agency.

A few question that you should ask:

  • How many years of experience do you have?
  • Does your brokerage require additional coursework?
  • Is there someone who can shadow me while learning?
  • What is your style of developing business leads?
  • How long does it take on average to earn commission checks?

Even you can add more reasonable questions to your list. Which answers are acceptable totally is up to you. Some may like to work with a brokerage that requires additional coursework because of desire of more training and knowledge before jumping into the real estate agency. On other hand someone may like to work with a brokerage that doesn’t require any extra course-work.

Get Licensed

Getting a real estate license requires passing the state or national exams. Additionally, you may have to provide a criminal background check. The exam and license fees for a real estate salesperson may be at least $200. However, this fee may depend on the state you are residing in. 

Develop a Real Estate Agent Budget

Becoming a real estate agent is not economical, it is much more costly than entering in many professions. The estimated start up fees are $1,500 to 2,000 including the licensing course, business cards, sings, advertising and association fees. The exam fees will be incurred separately. Because real estate is commission based business so you will need enough money set aside for you to get the thing done in coming months. These are approximations of actual costs because they can vary based on individual choices and state-by-state costs.

Make the Realtor/Real Estate Agent Decision

If you want to use the “realtor” title then you need to join the National Association of Realtors (NAR). This will be done by joining the affiliate borage and attending a set number of meetings designated by your local chapter. For more you will need to see the local requirements for using a “realtor” title. Build Your Client/Referral Portfolio

The best way to build your portfolio is twofold: get a mentor, and use your personal network. Barbara Kennon, the vice-president of the National Association of Realtors, says

“The best arrangement for a new agent is to find a mentor in the real estate agency you choose who guides you towards buyer/seller contacts and splits commission. You will learn the profession from your mentor, while gaining your first commission checks.”

Asking your friends and family members for referrals will help you get your first real estate find. Try to find the people who are looking for buying and selling homes and that referral may get you started in your new business.

Last Words

Becoming a real estate agent is similar to starting a small business. Even though you’ll work within a brokerage of established realtors or real estate agents, you need a startup fund for business expenses and to cover several months of personal expenses while you build your client base. Take every step seriously, and you’ll have your first “sold” sign up with your savings account still intact.