For many people, becoming a real estate agent is a dream job. But it can be difficult to know where to start or how to become a real estate agent in your area. The Real Estate Prep Guide is here to help prepare you to become a successful real estate agent and understand what it takes to get started in the real estate business.
Understanding the Terminology
The most important thing to understand when entering the real estate arena is the difference between a real estate agent, broker, and realtor. A real estate agent, also known as a real estate associate, is a professional in the real estate business who has passed all required real estate licensing classes in addition to the real estate licensing exam for their state. Becoming a real estate agent is the first step in entering a career in the real estate world.
A broker in real estate has continued their education and passed the real estate broker exam. Real estate agents work for brokers who are allowed to operate on their own. A realtor is a real estate professional who is a member of the National Association of Realtors.
Step 1: Education Requirements
The first step in becoming a real estate agent is acquiring the level of education necessary for your state. Some states require college-level courses before allowing a person to take necessary exams. Others simply require a certain number of hours of real estate courses before the state examination. Each state has a real estate commission that dictates the requirements for education before the exam for licensing.
Step 2: Choose a Real Estate Brokerage
The next step is to choose the real estate brokerage that you want to work under. A requirement of real estate agents is that they work for a broker because a real estate agent is not allowed to work on their own. It is important to choose a good broker because they are required to have at least three more years of education and will serve as a guide to answer any questions that arise when showing homes, listing properties, and selling.
A real estate agent needs to start thinking about which broker to work under before finishing their training for the exam. Review websites, recommendations from friends or people in the industry, and advice from training course instructors can all be helpful when choosing a real estate broker. Some brokers require additional training and education courses after hiring, while others do not. It is important to ask about all relevant issues when choosing which broker to work for after passing the licensing exam.
Step 3: Getting Licensed
After the state mandated number of training courses and hours, a person must take the state licensing exam if they wish to become a real estate agent. This requires the passing of both state and federal licensing exams. The Real Estate Prep Guide has practice exams and study materials for the licensing tests in every state and guarantees that you will pass your test or your money back.
Step 4: Setting a Budget
Once a person passing their licensing exams to become a real estate agent, the next step is to set a budget for your real estate work. This includes budgeting money for business cards, signs, advertising, association fees, and monthly living expenses for at least the first few months while a client base is established. These costs will vary from state-to-state and geographically, more money should be set aside in higher-priced urban areas than in more rural real estate zones.
Step 5: Building a Client Portfolio
Utilizing the relationship with the broker and personal network, the next step in becoming a real estate agent is building a client portfolio. Many older real estate agents and brokers will refer clients to younger agents and split the commission fee to help the younger agents get started. Asking friends and family for referrals also helps build a portfolio of clients who may come back for their next purchase or sale of a home.
The Real Estate Prep Guide Can Help
Following these steps is the best way to get started as a real estate agent no matter where you live, and the Real Estate Prep Guide is here to help you with all of your examination needs. The Real Estate Prep Guide has study guides, preparation materials, and practice exams for the real estate licensing examination in every state, and thousands of real estate agents have used these study materials to pass their licensing exams. We are so confident in our preparation materials that if you do not pass the real estate agent exam we will refund your money in full. Let the Real Estate Prep Guide help you on your way to becoming a real estate agent.