Working in the real estate industry can come in many forms. But for some, being a licensed agent is the ideal job. With flexible hours, the potential to increase your earnings, and a relatively quick process to becoming an agent, becoming an agent is an obtainable goal for many.
But before leaping into the career path of an agent, it is important to know that your success in real estate may not come as easily as it does for others. Based on the ebb and flow of local economies and your ability to master the understanding of the local market, your ride into real estate success might be a little bumpy.
Becoming a licensed agent varies by state. It is important to know your states specific requirements which are often determined by the real estate commission. Most states mirror each other when it comes to their licensing requirements, and the following is what you need to begin your career.
Education and Age Requirements
While you are not required to have a bachelor’s degree to become a real estate agent, more states will require you to obtain a high school diploma or a GED. Many colleges offer real estate education courses, and those courses require a form of education equivalency to enroll. Depending on the state you are located, your age also matters. Most states require all licensed agents to be at least 18 years of age.
Real Estate Courses
Most states require individuals to take an approved classroom or online course with a set amount of instruction hours before being able to take the real estate exam. Depending on the state, instruction time can be anywhere from 40 to 300 hours. Most classes are held at local community colleges or real estate brokerage firms. Classes are also available from some of the more popular agencies such as Coldwell Banker and Re/Max.
Pass the Exam
To become a licensed agent, you must pass the licensing exam. The exam tests your knowledge in working with clients, negotiating, closing deals, and following real estate law. Each state will set their minimum exam score that you must reach to be licensed. Some states only require 70 percent to be considered passing. Most states will also allow you to retake the exam if you do not pass the first time.
Once you’ve passed the exam and have become a licensed broker, it is time to put everything you’ve learned into action. Most agencies will require newly licensed agents to work under a broker before venturing out on their own. If you are still interested in becoming a licensed agent, visit your local college and enroll in courses today!