Becoming A Real Estate Agent
Online Real Estate Schools Can Speed Up The Process
Becoming a real estate agent is an excellent career choice, but as with most things in life the journey to success may be challenging, which means you have to really want it.
Although the dream of becoming a real estate agent may sound glamorous, there are pros and cons to consider.
It's important to understand exactly what is required to make you successful in the field.
Here are a few points to ponder before making a decision to begin a career in real estate.
Do You Have The Right Personality To Become A Real Estate Agent?
Are you able to handle stress well?
Do you have natural problem solving skills?
Since most of your business will come from networking and making new contacts, are you an assertive person with solid people skills?
Real estate is a sales driven business so to be successful, you need to be willing to speak to complete strangers and network to convert everyone you meet and know into referrers or clients. If you are shy, it may be difficult for you to make a living in real estate. Strong people skills will also help you deal with any real estate problems professionally and quickly.
Self Starter With Motivation: Essentially you are your own boss and no one will be controlling what you do. It is very important that you are able to keep yourself motivated and disciplined to do what is required, even though some of the tasks may be foreign to you. Becoming a real estate agent can be especially hard for many people who have left a 9 to 5 job to actually work without someone else telling them where to be and what to do. It's all doable, but these are serious issues that you should consider.
What are the requirements for a real estate license in my area?
Each state or province has different licensing requirements and regulations. In general, for becoming a real estate agent, you will have to:
Meet an age requirement (usually 19 years of age minimum)
Pass a background check
Complete approved courses from a state approved real estate school
Pass a state exam with a minimum set grade. (Usually 75%)
Complete an application form
Pay a variety of fees. (We've itemized some below.)
Most of the required licensing courses can be taken through online real estate schools.
How Much Will Becoming a Real Estate Agent Cost?
Depending on your state’s licensing requirements, it can cost anywhere from $300-$800 to take the required classes and pay for processing fees for your license. Once you are licensed, there are other annual dues and fees to consider:
Real Estate Board membership dues
National Association of Realtor (NAR) dues
Errors and Omissions Insurance
and other fees depending on your location.
There are a host of costs many do not consider, such as:
gas and car payments as well as increased insurance
and basic costs you will need to cover such as your mortgage payment, food, and other living expenses.
All said and done, it can cost anywhere between $800-$3000 just to get started in your real estate career.
NOTE: You will also want to make sure you have at least 6 months of "fall back" income saved to cover your basic living expenses. Since you do not know when you will get your first commission check, it is best to be able to cover your cost of living until it arrives! The good news is much of this is tax deductible.
What Broker Will You Choose?
Agents just having earned their real estate license, work for a real estate broker. If you decide at some point to work independently and open your own office, you will need to earn a broker license. Most successful agents treat their real estate careers as their own business, not just a job. (It is one of the key secrets to success in this business.)
Not all brokers are created equal, so be sure to interview several brokers in your area and compare the benefits as well as the disadvantages of working with each.
If you’ve reviewed the points above and are still set on becoming a real estate agent, you may be interested in bookmarking this site. There is a lot of information for new as well as experienced agents here.
Do You Have a Real Estate Business Plan?
Getting started in real estate and being successful requires a business plan. Set realistic goals for your first year and outline exactly how you can achieve those goals. A basic knowledge of marketing and real estate prospecting can help you hit the ground running once you become licensed.
One of the finest real estate coaches offers a "New Agent JumpStart Program" where you can learn how to master: lead qualification & conversion, listing presentations, buyer conversions, and so much more...More about the educational requirements to become a real estate agent.
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Starting out to make money is the greatest mistake in life. Do what you feel you have a flair for doing, and if you are good enough at it, the money will come.
~ Greer Garson
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