Welcome to Openhouse Academy where we make it easier for you to fulfill your career dream by showing you the exact steps to become a licensed real estate agent in your region.
In order to become a real estate agent, you will need to obtain and hold a real estate license in your state. However, steps for acquiring the license varies from state to state. So, You want to select your state below to get most up-to-date information about real estate licensing requirements.
Becoming a real estate agent
Real estate agents enjoy a flexible career and nearly unlimited salary growth. In order to succeed in this industry, you must invest time into continuing your education and growing your portfolio of clients. Before you can start practicing as a real estate agent, you must first meet your state’s educational requirements and pass both the state and national licensing exams.
General ideas of “How to Become a Real Estate Agent“
In order to become a licensed real estate agent, you must first meet your state’s educational requirements and pass an exam. While every state has its own set of requirements, there are basic criteria that must be met. Potential real estate agents must be:
- At least 18 years of age
- A U.S. citizen
Get in touch with your local real estate commission to find out what are the licensing requirements in your state. Keep in mind that some real estate agencies will also have their own specific education requirements.
Sign Up for a Real Estate Course
Enroll in an accredited and reputable real estate training program. Alternatively, you have the option of either taking classes online or in a physical classroom.
Choosing a Brokerage
A brokerage is the office or the agency where real estate agents and brokers work. Agents work under brokers, so you will need to contact a broker before you graduate from your course.
When searching for a brokerage, consider its size, reputation and any training opportunities they may offer. You can learn more about a brokerage’s reputation by networking with others in the industry.
As a real estate agent, you will be working on commission. The commission that you earn will be split between you and the broker. How the commission is split will depend on the agreement you have with the brokerage or real estate agency. In some cases, new agents earn a smaller percentage than more experienced agents or agents who sell more expensive properties. As you gain more experience in the industry, you can negotiate different commission terms with your broker.
Before you can become licensed in your state, you must first pass a state and national exam. Some states will also require you to submit a criminal background check. The cost to obtain a license will vary from state to state, but most agents will pay a minimum of $200 to become licensed.
Prepare for Your First Year as an Agent
Keep in mind that real estate agents are paid on commission, and it can take some time before you make your first sale. First-year agents should set aside some cash to help them get through the beginning stages of this career. Plan on spending the first few months building up your clientele and learning the ropes.
Developing a Client Portfolio
Developing your client portfolio is an integral part of being a real estate agent. Beginning agents typically work with a mentor and use their own personal network to find new clients. Experts in the industry recommend choosing a mentor early on who can steer you towards buyer and seller contacts. Your mentor will split commissions with you and also help you learn more about the profession.
In addition to your mentor’s assistance, you can also use your own personal network of contacts to get in touch with buyers and sellers. There’s a good chance that one of your friends, family members or neighbors are in need of a real estate agent.
In many ways, becoming a real estate agent is like starting your own small business. You may be working in a brokerage with other experienced real estate agents, but each member of the team works independently. You will need to learn how to market yourself as an agent to draw in new clients and sell properties. Your success will be defined by how much time, effort and passion you put into your career.
BONUS! – How to Become a REALTOR
Besides your questions of how to become a real estate agent, you may have heard about a Realtor. Often, these two words are used interchangeably. But actually they’re not the same in the fact that you must obtain a license of real estate agent before you can actually become a Realtor.
Once you have acquired your real estate license, you can then determine whether or not you want to become a REALTOR. REALTORS are members of the National Association of REALTORS. Members of the association are expected to abide by a strict code of ethics.
In order to become a REALTOR, you must first meet all of the necessary real estate agent requirements and obtain your license. REALTORS must choose an affiliated brokerage and attend a certain number of meetings designated by their local chapter. Some chapters will also require agents to complete post-license courses within their first year of becoming licensed.