Real estate is a constant industry that sees steady growth in most economic climates. Whether the trends indicate a buyer’s or seller’s market, the clients still need someone to make the deal. The Bureau of Labor Statistics reports a median income around $47,000 for agents, and with the right education and mentors, you can expect your income to grow as your experience does. Here are the steps you need to take to start your real estate career.
Take the Appropriate Classes
Every state has different specific requirements for how to get a real estate license, but they all start with education. You can sign up for courses that teach you all the basics of the industry, including principles and practices as well as the legal constraints you need to know. If scheduling is an issue, you can probably find courses for your state online. After you have completed the coursework, you can take your state’s licensing exam. If you don’t pass it the first time, don’t fret. You can retake it as many times as you need to within a two-year period. After that, however, you will be required to take pre-licensing courses again to be eligible for the test.
Apply for the License
Once you have passed your exam, you are free to apply for a real estate license. The license is what officially allows you to practice as a real estate agent. Many states have additional requirements before they will issue someone a real estate license. For example, you may have to pass a background check and be fingerprinted for identification purposes. It’s important to know what your state requires before you start looking for a firm.
Find a Broker
Real estate agents must operate under the guidance of a broker. The broker can operate as an agent but has the added responsibility of ensuring that all agents under his or her supervision are adhering to the ethical and legal protocols of the industry. When you join a brokerage firm, expect to be paid by commission only. That is, you only earn money when you help a client buy or sell a house. This is how most firm operate, and it provides a strong motivation to get out there and start working right away.
Once you have completed your pre-licensing courses, taken the exam, obtained the license and found a broker to work under, you are a real estate agent. Helping clients buy and sell their homes can be a rewarding career.