Many individuals become real estate agents because they have a passion for helping people. However, those on the fence often discover that becoming a REALTOR® can be a fulfilling and lucrative career choice. Nothing beats the feeling of helping your client find their dream home.
It feels good to be the person that helps so many other people find the home that fits their needs the best. This entails helping them through the process and making crucial decisions. Many times a great REALTOR will have clients turning around to thank them for all the work they put into helping them.
However, becoming a REALTOR is a journey that will take you through the licensing process, and a bit of work even after getting your license. The process of getting a real estate license can be complex, but fortunately, this article will help you.
Think of this article as an in-depth guide that outlines all the essential steps you need to get a real estate license. Yes, the process can be a little confusing but at the end of the day, the effort you put in is worth it.
Why Do You Want To Become A Real Estate Agent?
It is an important question you must ask yourself before getting on this journey. Not only because sometimes things can get tricky but also because you need a reality check every so often to keep you honest.
Once you know why you are pursuing a license, it is time to start doing the work. Many people become REALTORs because they have had positive memories of working with one, while others enjoy the process involved with finding, buying, and selling properties. Others get into it because they are naturally clear communicators with excellent negotiation skills.
Regardless of why you become a REALTOR, it can be a fulfilling career. Below are a few reasons you should consider becoming a real estate agent.
Assisting People Find Their Dream Homes
As a real estate agent, you will have the unique opportunity to rub shoulders with everyone from regular people looking for a home to celebrities and entrepreneurs. As an agent, you can meet and network with people from across the world and all sections of society. It is a rare opportunity offered by few other careers.
Loads of Opportunities To Network
As mentioned above, you get to rub shoulders with other real estate agents and so many other people. So, you get to learn new things, yet at the same time, this networking can help skyrocket your career, helping you earn recognition as an industry expert.
Partnering with other agents and real estate brokerages will help open the doors to endless opportunities. The partnerships can be immensely beneficial when it comes time to find lenders appraisers, even if it’s just to continue educating yourself online.
Control Over Deals and Negotiations
As an Arizona licensed agent, you have more control over your deals when selling your home or buying a new home. You can work directly with the lender, inspectors, etc., and set the sales price and terms. This education will empower you to negotiate better and get the best deal possible.
Potentially Hefty Commissions
As a licensed REALTOR, you have the chance of earning commissions on your own properties. This will save you from working with an agent, which means pocketing 100% of the commission. Plus, there is no need to get another person involved.
Continuous Educational Opportunities
There are near-infinite opportunities to expand your knowledge, sharpen your expertise, and scale up your real estate business. You’ll learn new selling techniques, negotiation skills, and marketing strategies. This education will help you land more clients and earn a reputation as a highly-skilled real estate professional.
How Do You Become A REALTOR?
One of the questions we often get is, how do you get into real estate? It is a relatively easy question to answer, but it will require a commitment to sticking in there when the going gets tough.
You can start by searching for a real estate school near me; this should include a list of institutions that prepare people to become professional REALTORs.
Like attending any other type of class, you can schedule classes and then attend. Some have even begun to offer online courses worth looking into.
Once you have found a school, you need to start the licensing process. You can’t be a real estate agent without a license, but fortunately, if you’ve been paying attention in class, it is relatively easy.
How Long Do You Need To Take Classes For?
Generally, each one of the courses you need to take is 3 hours long, and you need to complete 90 hours of coursework. The good thing is that these classes can be taken online or in person.
Your education will consist of around 18 sessions. All classes are standalone and will not require that you complete them in any particular order. However, these need to be completed within six months after you enroll.
Some real estate schools offer a 90-hour program in as few as three weeks. However, you will need to attend classes for 40 hours a week.
It is worth noting for people with a real estate license in another state that it does not mean that all of their courses and hours will necessarily carry over. You will want to check with your state if they have a “reciprocity agreement.” If there is an agreement in place, you may be able to skip a couple of steps in the licensing process.
How Much Does The Real Estate Course Cost?
What you pay for a real estate course will vary depending on your location and institution. On average, you’re paying around $600. The course will generally include:
- 90 hours of pre-licensing
- Practice exams
- School exam
- A 6-hour contract writing course or class
Speaking of the contract writing course, it isn’t hard, but in some cases, you will want to choose an institution that makes all the jargon involved easier to understand. Plus, lots of practice exams are crucial to getting your license.
Passing The State Licensing Exam
After truly satisfying the state’s educational requirements, the next step is to take the licensing exam. However, before you do, you will need to get a certificate of completion from the school.
Thanks to the internet, you can schedule your real estate licensing exam online by visiting your state’s official real estate commission website. All you need to do is fill out and complete the form online, after which you will be scheduled to appear at the upcoming exam. In most cases, prospects are emailed a time, date, and location.
The average time to complete the exam is around 3 hours.
The real estate agent’s licensing exam typically consists of 100 multiple-choice questions. The questions pertain to the national real estate industry, like laws and other questions. To pass, prospects need to get a 75% score or better.
How Long Does It Take To Prepare For The Exam?
It all depends on the individual and how well they retain information. Also, it would help if you were proactive about keeping up with the coursework.
The majority of real estate agents report that the exam is low-stress for them, provided that they are well prepared and have practiced. Consider that your coursework is 90 hours at least, which means you will get a great deal of practice.
You will want to take practice tests and study with a partner; this will help you stay on top of all the assignments and remain prepared for the licensing exam.
Apply For Your License
After passing the exam, you need to apply for your license. You will want to get a copy of your scores and a certificate of completion from your school. This information then needs to be submitted when applying for a license.
Individuals must be at least 18 years of age when applying for a license and have a high school diploma or a GED.
You will also be asked to get a Level One clearance card which is part of the licensing process. The individual needs to submit their original fingerprints, fill out a clearance card application and then pay the fee, which is around $67 or higher depending on where you are located.
Applying For The License Online
In some states, it is possible to apply for your real estate license online. All you need is to submit scanned copies of your documents and go through the steps. Finally, pay the licensing fee via debit or credit card.
Once submitted, getting your license can take up to 2 months. So, hang in there; it will come. However, you can speed up the process by following up via email or a phone call.