Working in real estate is one of the most lucrative careers today. People are always looking to buy and sell, which means there are always opportunities in this industry. There are many reasons why people want to become real estate agents, which range from hefty pay to working on a flexible schedule.
“However, becoming a successful realtor and making millions doesn’t come easy. You need to put in work through training and mentorship to get to the top. Similar to contractors who need to learn how to bid small construction jobs in the beginning to get momentum, it’s vital that realtors gain momentum as well. Here are some important steps to help you get started as a realtor.”
Here’s how to get started.
Learn About Your State’s Licensing Process
Just like any other profession, the first requirement for realtors is to take classes and pass the state’s exam before looking for a job. Since most states have different requirements for licensing, you need to research your specific state.
For instance, a state like California requires 135 hours of real estate education, while states like Georgia and New York only require 75 hours. Other states exempt lawyers from taking specific courses, while others don’t. Make sure you inquire about your state’s age requirements, application fees, and education requirements among other things.
Register for a Pre-Licensing Course
All states require applicants to go through a pre-licensing course from a registered and approved real estate licensing school. This is a prerequisite before sitting for the real estate exam.
You can opt to enroll in a community college, brick-and-mortar real estate school, or even in online classes. The latter provides an easier option because online classes offer more flexibility. If you’re in the south United States, you can take the Florida real estate course online at ProlicenseFL.com to fulfill your dream of becoming a realtor.
Book Your Licensing Exam
Once you’ve completed your pre-licensing course, your instructor will direct you on how to register for the licensing exam. You can also visit your state’s website to know how you can schedule the exam.
The exam normally comprises two sections: one covers real estate laws about your state. The other covers the general principles and practices of real estate nationally.
You need to pass both sections to be eligible for licensing. You’ll be required to retake the exam in case you fail to pass any of the two sections. Again, the number of retakes you are allowed and the duration it takes varies from one state to another. All real estate exams are normally multiple-choice questions.
Register with the Relevant Real Estate Associations
Although this is not mandatory, being a member of real estate communities such as the National Association of Realtors (NAR) is vital. Becoming a member of this association gives you more credibility during your practice. For instance, NAR has a strict code of ethics, which means the salespeople, property managers, brokers, and any other member under it is reliable.
Look for the Right Broker to Guide You
Most states require every new real estate agent to work under a licensed broker for at least two years. This means you will be receiving commissions from your broker from all the transactions you make.
Brokers have their own rules of splitting the profits; some do it on a percentage basis while others might be generous enough to let you keep all the commissions from your transactions. However, most brokers require you to pay a “desk fee”. The broker will act as a mentor and a manager during the period that you will work under them.
Becoming a real estate agent or realtor requires determination and commitment. You need to be patient to get to the top. Following these steps and having the right mentors will help you build a good portfolio.