Real estate agents serve a vital role in the real estate sector. They usually handle real estate transactions. Also, they work as consultants who usually make significant decisions. The agents are tasked with negotiating profitable and fair deals. In order to become a real estate agent though, you will need to become licensed. The licensing process isn’t too complicated, but is very important to potential careers in real estate.
So, as an individual interested in being a part of the real estate sector, what should you expect? For starters, the real estate industry is competitive. There are more than two million people who have real estate licenses in the U.S. If you enjoy competing with others, then you are in for a thrill, and a career in the real estate sector suits you best.
Steps to Getting a Real Estate License
There are five major steps that you should undertake if you want to get a real estate license; these five steps include:
- Learning Pre Licensing Requirements - Look into the prelicensing education requirements depending on the state. There are different requirements in each state. You should take time and look into what is needed in your state. After that, you can check whether you qualify for the exams.
- Undertake a Pre Licensing Course - There are many options about how you can take the pre licensing course. You can opt for the online option if it is more convenient. It is also affordable, and you can handle everything at your own pace.
- Undergo Practice Tests - After completing the pre licensing course, you should sit for an actual exam. It is advisable to focus more on practice exams. The main focus should be on applying the knowledge that you have amassed over the years.
- Pass the Needed Exams - After completing the pre licensing requirements, you are supposed to sit for the state exam, referred to as the licensing exam. The format varies typically from one state to another.
- Register the Real Estate License in Your State - After passing the state exam, the final step to becoming a real estate agent is to register within your state of residence. The process requires you to sign a form and also pay the registration fee. The details will then be forwarded to the real estate licensing board in your state.
How Much Does it cost?
There are different costs associated with the real estate license. Some people may assume that you will only incur expenses during the certification process. To get the real estate license, you have to take some tests and make sure you have undertaken different marketing responsibilities. Each component requires a certain amount of capital. The costs associated with the real estate license include:
- State Licensing Exam
- Education
- License Registration
- National Association of Realtors Membership
- Business Expenses
- Marketing Expenses
The estimated education cost ranges from $200 to $1,000. We had earlier mentioned that the requirements vary from one state to another. If you want a real estate license, you should make sure you have enrolled for a state exam. You should also ensure you have enough “credit hours” depending on the specific state you are from.
The cost varies for the tests. On the higher side, you may spend at least $200 for each test. The cost includes the educational courses that you have to undertake before you can sit for the exams.
Career Prospects with a License
After acquiring your real estate license, you may be interested in learning more about the career prospects that are available as long as you are licensed. Some of the available career opportunities include:
- Commercial Real Estate Agent - The commercial real estate sector is as lucrative as the residential sector. As a commercial real estate agent, you are supposed to carry out intense research since businesses may task you with looking for secure locations to boost their business.
- Property Manager - As a property manager, you are supposed to ensure the property is running smoothly. As for residential property, you can act as a repair person, leasing agent, among other roles. You should also get to know the tenants in an up-close manner since you will regularly mingle within the property.
You may have asked yourself, can a real estate license become a gateway to a new career? The answer is yes! Some career prospects are available to people with a real estate license. We have only mentioned a few; however, there are many more career prospects.
