Open Houses and Mortgage Closings: What It Takes to Be a Successful Real Estate Agent
With about 2 million active real estate agents currently in the US alone, it’s a profession many people are intrigued by. Paired with an attractive average salary of around $43,000 with scope to progress and earn much more, becoming a part of the real estate world is a role many young people are keen to snap up.
But becoming a fully-fledged retail estate agent involves more steps and expense that originally meets the eye. Involving numerous tests and periods of studying, as well as time and money, becoming a real estate agent certainly won’t happen overnight and takes a lot of hard work and dedication. So, if you want to learn more about the real estate world and how to become successful within this field, read on to discover why real estate is so rewarding and the essential steps you’ll have to take.
Why real estate?
With so many professions and career paths that the majority of today’s young people have available to them, questions many find themselves asking are simply ‘why should I become a real estate agent?’ and ‘will I enjoy it?’.
In addition to having high salary potential, being a real estate agent is both exciting and hugely satisfying. Buying a house is one of the most extravagant purchases people will make, and being a part of the journey in helping others find and secure their dream home is by far the most rewarding aspect of the job. Both fast-paced and exciting, the real estate world is constantly developing with new home opportunities.
Sound good? Here are the first few steps you must take to achieve that real estate agent goal.
Taking a pre-licensing course
Getting a real estate license isn’t as easy as it may seem, and you may be required to take a pre-licensing training course before even sitting the exam in some states.
Pre-licensing courses can cost anywhere from $200 to $300 and states differ in how many hours of pre-licensing training required before taking the exam. So, once you’ve decided real estate is the career path you choose to go down, it’s important to check the regulations of your specific state to ensure you’re as informed as possible before starting.
Taking a pre-licensing course will educate you in all relevant aspects of real estate that may come up in the test. From real estate practices to jargon, these courses are a vital component of your pre-exam prep. Better still, many states offer courses that can be taken either in person or at home so, no matter what your preference, you’ll be able to study in a way that suits you to best prepare for exam time.
Taking the exam
Once you’ve taken your pre-licensing course and are feeling super prepared, it’s now time to go ahead and take that all important licensing exam. Without passing, you won’t be able to get your license so it’s essential to try your very best to give yourself the best chance of qualifying first time.
Similar to pre-licensing courses, states vary on how they administer real estate exams so it’s important to check your local site for information on how to sign up to take the licensing exam. Typically, the exam is split into two sections: state-specific laws and generic real estate procedure. Each section will consist of numerous multiple choice questions that may require a calculator for workings out.
This may sound intimidating but, as long as you take a proper pre-licensing course, you’ll be equipped with all the information you need to pass the test. But, if you don’t pass first time try not to be too disheartened as, in some states, the initial pass rate is a mere 50%.
Activate your license and join a brokerage
Once you’ve passed the exam, it’s now time to activate your license. Depending on the state you are in, activation can cost up to $400 but, once activated, you will be able to practice real estate.
However, in order to legally practice real estate, you need to be supervised by a broker. This is to ensure you’re fully adhering to required legal standards and making fully legitimate transactions. Complaints are made against real estate agents every day for unethical behavior, and it’s important to avoid this at all costs and do everything above-board. Take a look at an example of a Florida real estate licence attorney for DBPR and FREC for more information!
Real estate is a hugely rewarding career path as long as you prepare yourself and implement all the correct steps. Once you’ve legally gained your licence by adhering to all the above steps, you’re able to see what the world of real estate really has to offer to its agents!
Ewan Wheeler has worked as a real estate agent for several years and really enjoys her job, meeting new people all the time and seeing happy couple move into a first home or their dream family home.