A real estate agent also known as a real estate broker or a real estate agent is a person who helps people to sell, rent and manage their properties. To practice as a real estate agent, you need to obtain a real estate practicing license that will let you practise as a realtor in the state or country.
The process of obtaining a real estate license is not easy as each state and country have various requirements you need in order to be issued a real estate license, and you can’t practice as a realtor legally without a real estate license. The rest of this article will focus on explaining how to get a real estate agency license.
How Real Estate Brokers / Agents Make Their Money
- Agency Services-: The most popular way real estate brokers make their money is by serving as an agent between the buyer and the seller of a property. They help to bring the buyer and seller together to close a deal.
- Management of Real Estates-: A real estate owner can contract the services of a real estate brokerage firm to help them manage their estate; especially if it is a big estate.
- Buy and Selling of Properties-: Some big time realtors buy properties at a cheaper prize, with the hope of selling it at a higher prize when the value of the house appreciates, and unless there is a major recession in the economy of the country, the value of properties always appreciates fast in few years.
How to Get a Real Estate Agency License / Certification Fast
1. Get the General Requirements-: Though the requirements for issuing a real estate license differ in different states, these are the general requirement which you must have to proceed to other stages of acquiring your realtor license.
- Age Requirement-: For you to proceed to become a real estate agent and get real estate practising license, you need to have attained the age of 18 years; though some states require you to be at least 21 years to be issued the license.
- Criminal Records-: To get a real estate broker license, you need to have a clean background and if you have been sentenced before then, you need to complete the sentencing before you can apply for a real estate agency license. If you have these two mentioned requirements, then you can proceed to next stages of getting a license.
2. Register and Take your Real Estate Courses-: As part of the process of getting a real estate practicing license, you are required to take some real estate courses which are calculated in hours taken. The number of hours you are required to take differs in many states. While some states requires just 50 hours for the real estate courses, others require up to 190 hours. Some of the real estate courses you are required to take include:
- Real Property and the law
- Home and Estate Ownership course
- Legal Documents
- Leases and Property Management
- Real Estate Investment
- Taxes and Liens
- Closing Real Estate Transactions
There are some online sites that offer preparatory classes on these courses. It is also good to note that some states allow you to substitute these courses for a real estate related college or law degree or if have been called to BAR.
3. Do a Background Check-: I mentioned earlier in this article that you need to have a clean criminal record as a requirement to apply for a real estate practising license; and to verify this, you have to go for a background check at the Real Estate Commission. The background check includes your fingerprinting and the real estate license should be given between 90 days of getting the background check; if not, the check will be considered invalid.
4. Take the Real Estate Exams-: If you have completed the real estate courses, you are to register and sit for the real estate exams. It costs $80 to register for the exams; the exams will include more of practical questions on the courses you completed. If you fail the exam, you have to retake the exams but if you pass it, you will be issued your realtor broker licence.
5. Get a Real Estate Broker Firm to Work Under-: After you are issued a license, the law mandates that you are to work under a real estate broker firm for at least two years before you are allowed to go work as an independent realtor. This is also known as hanging your license in another broker firm.
Get a good or top broker firm and take the opportunity to learn the ropes involved in the real estate work, and also use the opportunity to network. Some broker firms pay you a percent of every deal you close while you are hanging your license with them. After you complete the mandatory broker attachment period, you can still decide to stay with the broker or move on open your own real estate broker firm.
6. Post Licensing Education-: The real estate practicing permit doesn’t just end on your getting a license, you required by law to take at least 24 hours of continuing education every other three years, in order to keep your licence active. Failure to do so will automatically deactivate or invalidate your mentioned about to get a new real estate license.
In conclusion, I have mentioned steps to need to take to get your real estate license; from the general requirements, going for a background check, taking some realtor courses and exams, hanging your license in a broker firm, to getting a posting license education.
It is also important to note that some states also require a applicant to have at least 2 years sales experience as a sales person before your apply for a real estate broker license. The stress in getting the real estate license is much, but the reward is worth the stress as the real estate industry is a multi billion dollar industry and most realtors get up to 15% percent of the total amount as service fee for every deal the close.