There is no denying that the real estate industry has a lot of potential and a career as a real estate agent is quite respectable and noteworthy. A combination of factors such as investing time and effort in the right education, passing national and state licensing exams and researching a broker for landing clients can aid you in becoming a successful real estate agent. However, bear in mind that this isn’t all there is to it. Listed below are the steps you need to follow to become an agent and begin a promising career:
Get the right education: There are some pre-licensing courses you have to take, regardless of where you live. The requirements for every state are different. For instance, some states require you to sit through a number of hours for education like in Idaho you have to take two courses that total 90 hours whereas in California, you have to go through three-level college courses. You should get in touch with the real estate commission of the state to know the licensing requirements.
Select a brokerage: This is any office or agency from where a real estate agent works. In order to work as a real estate agent, it is a requirement to work as a broker, which means you need to get in touch with one before you graduate from your training course. Since they have three years additional training in real estate, they can provide you with guidance and answer any questions you may have.
When considering different brokerages, consider the additional training they offer, their size and also reputation. The last one can be checked by reading online reviews, getting in touch with neighbors or others who have dealt with them and you can also ask your instructor for recommendations.
Get your license: You have to pass national and state exams in order to get a license. A criminal background check may also have to be provided. At least $200 will have to be paid for the license fee and exam.
Create a real estate budget: It may not be cheap to become a real estate agent, but it is considerably less costly as opposed to other professions. The startup fees will hit you from somewhere between $1500 and $2000, which is divided between your licensing fee and courses, real estate signs, business cards, association fees and advertising and this doesn’t include additional exam fee. You will also need to set some money aside because real estate transactions are based on commission.
Make the decision: You have to join the National Association of Realtors if you wish to use the term ‘realtor’. You have to choose an affiliated brokerage for this purpose and attend some meetings as specified by your local chapter.
Develop your portfolio: Now it is time for you to work on your portfolio and this you can do by using your personal network and getting some help from a mentor. Ask your friends and family to recommend you and use your mentor’s advice regarding buying and selling.