Real estate agents are in a unique position to help people buy and sell their most valuable assets. They work in a highly respected industry, earning substantial income and providing clients with much-needed advice.
New agents will need to invest time and money in getting licensed. From courses to broker fees, the upfront monetary investment can be considerable.
If you love visiting open houses or binge-watching HGTV, real estate is the career for you. It can be challenging to master your market, but it offers no income caps and a variety of benefits, including flexible scheduling and expansive networks.
However, before you can get started, it’s important to study. Most states have industry-specific educational requirements for those seeking a license, including taking and passing a state exam. To find out what the requirements are for your state, check out its real estate commission website.
In addition to completing your prelicensing courses, take practice exams and attend review classes to boost your confidence and pass the exam on the first try. Many Kaplan prelicensing packages include a comprehensive exam prep course to help you succeed. Show up to the exam prepared, and you’ll be able to answer any question put to you!
Getting a License
Once you’ve finished your real estate courses, you’ll need to pass the state licensing exam. The exam will cover both national and state-specific laws. You can find information about the exam and its costs on your state’s real estate website.
After you’ve passed the state exam, you’ll need to become a licensed real estate agent in order to work in your chosen field. Once you’re a licensed agent, you can take on a variety of different roles.
For example, you can work as a buyer’s agent, which means you will help clients buy property. Alternatively, you can work as an appraiser, which involves verifying the value of a property. You can also become a property manager, which involves overseeing real estate properties.
You can even become a mortgage loan officer, which involves working with financial institutions to originate property loans. Real estate agents can have a very lucrative career. If you’re interested in becoming a real estate agent, it’s important to start the process early.
Real estate agents are on the front lines when it comes to helping people buy, sell, or rent homes. They must have a solid grasp on the local market, including zoning laws, mortgage options, financing, and trends in housing.
They also need to be able to communicate effectively with clients. This includes actively listening to their needs, avoiding distractions, and asking questions to make sure they understand what a client is looking for in a property.
Getting started as a real estate agent is an appealing prospect for recent college graduates pursuing their first career and current workers looking to shake up their work. But, it’s not without its challenges and obstacles.
Those who are interested in becoming an agent should know that there is no definitive timeline and that the process will vary depending on state-specific requirements, course schedules, and other factors. The key to success is finding the right brokerage firm to partner with early on.
Getting a Job
Real estate is a popular career choice, but it’s not without drawbacks. One of the biggest is flexibility. Unlike other careers that offer 9-to-5 schedules, real estate agents often work late or on weekends to accommodate their clients’ schedules.
Real estate also requires significant upfront monetary investments (from training and licensing fees to broker and marketing costs). As a result, it’s likely that new agents won’t see a return on those investments until they close their first deal.
It’s also worth mentioning that real estate is a volatile industry, and there will be months or even years when you won’t make as much as you’d like. That’s why it’s crucial that you have savings that can hold you over during these slow periods. Also, it’s wise to find a mentor or peers that you can ask for advice and guidance when needed. This will help you become a more successful agent.