Shows like Selling Sunset and Million Dollar Listings have spotlighted how fabulous the real estate world can be. It isn’t all glitz and glam, though.
There’s a lot of hard work to become a successful realtor. Oh, the real estate world can be very rewarding, it’s true. But you also need to be willing to put in the work for it because, like all good things, success doesn’t happen overnight.
The flexible work hours and a passion for selling houses that others can call home sweet home are many factors that entice would-be realtors. There is something so satisfying about sealing the deal and making a sale that no other job can quite compare.
Whether you’re working solo or part of a group, becoming a realtor is one of the most satisfying jobs you will ever have. Not to mention the commission from the listings is pretty good too. You can also use a real estate commission advance to leverage your month-to-month income.
If the fast-paced, exciting world of real estate is a passion you have now chosen to pursue, here is how you can get your career started:
1. Enroll and Get Licensed
Like every other job, you need to be qualified at what you do if people are going to take you seriously. Before becoming a real estate agent, you’ll need to go through all the proper training programs to get licensed and certified.
Depending on the program that you enroll in, it can take anywhere from 20 to 200 hours to get all the training, licensing, and documentation that you will need. If you’re enrolling in a program in a traditional classroom setup, you’re looking at anywhere from four months to six months to get your paperwork in order. Yes, that is how long it takes to become a realtor.
Why is there a difference in the number of hours? Ah, that is because different states would have different criteria about what it takes to become a fully qualified real estate agent. Real estate agents don’t have a national regulatory body at this stage. This means that you will have to abide by the laws and guidelines of the state that you live in.
Depending on where you are, you could be required to undergo background checks, meet age requirements, and submit proof that you have undergone training before beginning your career.
2. Pass Your Exams
If you thought enrolling in the course was enough, there’s one more hurdle you need to jump through first. You need to pass your real estate license exam. That is why enrolling in your courses is so important, because it is where you will learn all the fundamentals you need. Passing your real estate exam with flying colours should be a breeze when you know everything there is to know about selling and buying real estate in your state.
The exams in each state would vary, but generally, you must complete two sections before issuing your license. The first section of the exam covers national real estate knowledge. The second part of the exam is specific to the state that you live in. All the exams are now computerized for easier testing.
3. Applying for Your Real Estate License
Once you’ve sailed through the exam portion of your journey to becoming a realtor, the next part is a little more exciting. It is time to apply for your license to practice. Again, the licensing requirements will vary depending on your state. It should be a straightforward process, though.
The requirements will be proof that you have completed your course and passed your exams. Something else that you might need to submit is proof of Errors and Omissions insurance.
Applications usually would take a month or two to process.
4. Find Your Broker
You may love working solo, but having some support is always better when you’re just starting on a new career path. For a real estate agent, support would come in the form of a broker. The broker will be responsible for overseeing all your transactions and issuing you the commission you deserve. Commissions would vary depending on the brokerage firm that you work for.
It’s a very competitive world, and trying to go at it alone without the support of a broker in the beginning, is going to make it even tougher. Working with a broker is something all new realtors should do until they have gained enough experience in the field to become brokers of their own. Your broker will open the doors to the initial connections you need until you have built a name for yourself in the real estate market.