If you have just decided to be a real estate agent, you need to start the process of getting a real estate license. Depending on the state you are in, the process, fees, costs, and time to become an agent vary. Therefore, it will be better to contact the local office of real estate to know the requirements and steps you will need and take.
Steps on How to Get a Real Estate License
Step 1: Understanding the Licensing and Education Requirements in Your State
You need to acquire your bearings. In every state, the pre-licensing courses and applications for licenses vary. Thus, you need to contact the local office that handles real estate to better know what you need to do in order to begin your application process.
60 to 90 hours of learning the basics of real estate which include familiarizing oneself with property ownership, titles, contracts, and deeds is required by most states. You can attend live classes or online. In addition, the state should have accredited and acknowledged the real estate school before you pay.
Step 2: Taking a Pre-Licensure Program
You need to invest time and money if you want to be a licensed real estate agent. Thus, you have to know what you need in attending a pre-licensing course. There are many course options that you can choose from. You just need to identify your schedule and lifestyle. Pre-license courses can also be found at approved schools. The fees for these schools differ, but your expenses can reach between $200 and $1000.
Step 3: Passing the State Licensure Exam
The test can last for 1 hour and 30 minutes and 3 hours and 30 minutes depending on the state. You also need to pay the exam which is between $15 and $60. The test has around 100 multiple choice questions which are about national and state laws and principles. The passing score varies in each state. Most states require a score between 60% and 75% in order for you to get a license.
Once you get your official real estate certification or transcript and your exam score, you can include these in your license application for real estate.
Step 5: Filing Your Application and Paying the Required Fees
After you pass the exam, you can submit your scores, application, and payment. For the license application, you need to pay between $50 and $250. In addition, you might need to pay an additional charge between $40 and $80 if you will be asked to have a background check.
You can also contact the real estate commission in your state so that you can check if you need E&O or Errors and Omissions insurance.
For the basic requirements, you need to be at least 18 to 19 years old. You can use your diploma from a GED or high school when applying for a real estate license. After you finish your application process, you may need to wait between 1 week and 2 months before getting your license.
Finally, you need to give attention, time, and dedication if you want to have a real estate license. By following the steps given, you will be able to achieve becoming a licensed real estate agent in no time.