Do you want to be part of real estate industry? Are you qualified to work as a real estate agent? Becoming a real estate agent can be both simple and complex.
It’s simple because it’s possible, but it’s complex because there are procedures that must be followed.
Having you on this page means two things? You’re probably looking for an educational resource or a guide on how to become a real estate agent. Whichever the case, you have definitely come to the right place.
In this beginner guide, you’ll learn what real estate is all about, the step-by-step guide on how to become a real estate agent. You’ll equally learn the amount of time it takes to become a real estate agent, as well as how much you can make as a real estate agent.
How To Become A Real Estate Agent
Before we move forward to discuss the step-by-step guide, it’ll be proper to know and understand what real estate and real estate agent is all about.
What Is Real Estate?
According to Wikipedia. Real estate is a type of property that consists of land, buildings, and natural resources such as water, crops, and minerals.
Real Estate Agent on the other hand is a certified professional who arranges real estate transactions by connecting buyers and sellers and also representing them in negotiations.
Real estate agents are usually paid by commission, that is a percentage of the property’s purchase or sold.
So their income is dependent on their ability to accomplish a transaction. A real estate agent must work for or be affiliated with a more experienced and licensed real estate broker (an individual or a brokerage organization).
Steps to Become a Real Estate Agent
- Learn your state’s licensing and education requirements
- Attend a pre-licensure course, and other lessons if need be
- Obtain your real estate permission/licence
- Register with a Real Estate Brokerage
- Be part of National Association of Realtors (NAR) to become a Realtor
- Start networking and grow your community.
Learn about your state’s licensing and education requirements.
The requirements for obtaining a real estate license by state differ. There is no such thing as a nationwide real estate license, therefore you must follow your state’s specific licensing regulations.”
Your state’s real estate regulatory office website is a good location to start your study, which you can discover by doing an online search for your state real estate regulatory office.
Although Some states have reciprocal licensing arrangements, which means you can earn your license in one state and use it in another without having to retake the exam.
Attend a pre-licensure course, and other lessons if need be
Real estate colleges, for example, offer live classrooms; certain real estate firms, universities, and technical schools also offer real estate license programs with home-study and online options.
This is a vital step in your path. Make sure you enroll in a school with a good reputation, high-quality material and instructors, and a strong focus on student success.
Your real estate licensing education will not only be complete, but it will also serve as a foundation for a successful career as a real estate agent.
Take the Licensing Exam
You can visit your state’s real estate commission website to find out how to schedule, register, and pay for the licensure exam.
Exams are computer-based and are divided into two sections: a national section covering broad real estate concepts and practices, and a state-specific part covering your state’s real estate regulations. The exams are multiple-choice, with the number of questions and time permitted varying by state.
Join a Real Estate Brokerage
As a real estate agent, you work under the supervision of a supervising broker, who is authorized by the state to monitor real estate transactions and ensure that you (and “Other real estate agents) abide by the law and ethical standards.
In general, you will not be paid on an hourly basis. Rather, the brokerage will most likely give you a percentage of the commissions it earns on your real estate transactions.
Be part of National Association of Realtors (NAR) to become a Realtor
Many people mistake the terms real estate agent and Realtor, but they are not synonymous.
Despite the fact that both are licensed to assist buyers and sellers, realtors are members of the National Association of Realtors (NAR) and adhere to its strict Code of Ethics.
“With 1.3 million members working in the residential and commercial real estate industries as salesmen, the National Group of Realtors is the largest trade association in the United States.”
Start networking and grow your community.
It’s essential for new agents to begin networking with industry veterans as soon as possible. Make friends in the field and look for a mentor at the brokerage who can provide you real estate insider information and is willing to help.
How Long Does It takes to become a real estate agent?
In a regular classroom setting, getting a real estate license takes at least 4-6 months. However, If you take your real estate pre-licensing course online, it can be completed in a space of 8 weeks.
How do real estate agents make money?
If you want to know how real estate agents make their money, below are the best ways you can make money as a real estate agent.
Buy and Sell Lands. …
Buy and Sell Houses. …
Lease your Lands or Houses. …
Put your Apartments on Rent. …
Become a Real Estate Investor. …
Become an Estate Agent. …
Become an Estate Developer. …
Buy and Sell Building Materials.
How Much Can a Real Estate Agent Make?
“The vast majority of real estate agents are paid on commission. That means they make the majority (or all) of their money when they sell (or assist in the purchase) of a property.
When a person sells a house with the help of a real estate agent, the seller often pays a 5-6 percent commission on the home’s sale price. After then, the commission is shared between the selling and buying agents.
Each side earns a 3% commission, which is a common agreement. Each agent can expect to make $7,500 when selling a house for $250,000.
The above guide are very necessary to follow if you want to become a real estate agent. If you have any issues and need assistance, you can always reach us using the comment box.