Obtaining a Real Estate License Selling real estate for a living can be a fun and profitable experience. Many people become real estate’s agents as a way to fulfill a dream of earning extra money, or beginning their own brokerage firm. There is always significant room for ongoing advancement when involved in the real estate industry. However, first requires obtaining a real estate license.
Generally speaking, the regulations concerning selling real estate vary between states. However there are specific guidelines that are pertinent to every state. By reading below, you can learn exactly how to become highly successful in selling real estate by obtaining a license.
State Regulations
All of the regulations involving selling real estate in the state are handled through the state Realty regulation board. It is typically a great idea to first locate the regulation board, to see what needs to be fulfilled in your specific state. This will help you obtain your license. If it is not possible to locate the state board through typical means, search on the Internet to find realty regulations that specifically concern your state.
Going to School
Search for a local school in your area that is offering classes on how to obtain your real estate license. Nearly every state in the union requires at least 60 credit hours and up to 90 credit hours of heavy hitting real estate courses as a way to obtain a pre-licensing certificate. More than likely the Realty Board will offer a huge list of approved schools throughout the state.
While it is not required to take any course work in most states, it does help at the time of testing, to pass the exam. Usually, the two specific types of courses that are offered in most states on selling real estate are Real Estate Financing, and Real Estate Principles.
Taking the Test
Once you receive your certificate of the school, or feel confident that you can pass the test, you need to set up an appointment. Usually, the state’s realtor exams are handled once or twice each month in large metropolitan cities. Recognize that these tests are usually very difficult, where less than 25% of the entire class will pass it on their first try. To be successful, you will need to make sure that you study very hard, apply yourself, and keep retaking the test until you pass it.
Paying for the License
Once you are successful in passing the test, the state will allow you to purchase your real estate license to begin selling real estate. Based on your state, you will likely pay $100-$600 for your license. Typically, the license will last one year to three years.
Locate a Brokerage
The last step in having the ability to sell real estate is to find a broker. Real estate agents are not allowed to work on their own, but are required to work under a brokerage. Only after you have been able to sell real estate successfully for 3 to 5 years, you can get your brokerage license, and start your own business to sell real estate.
