The Great Recession ended several years ago, and while many people are still feeling the strains of that prolonged economic meltdown, the housing market is improving.
Ask some real estate agents and brokers if there is a bad time to be in real estate and they will tell you “no.” The real estate industry fluctuates with agents going in and out of the business. The real estate market is rising, falling or stable. Those agents who are truly committed to helping people solve their property buying and selling problems will face their ups and downs.
If you are a people person with dedication, ability, time to build businesses, and a desire to serve your clients, now IS the time to become a real estate agent. And now it’s time to learn about as to become an agent.
Get a real estate education
To be a real estate agent, you must study the real estate business. Each state has basic licensing requirements, although the actual requirements vary from state to state. (Be sure to check your state’s real estate commission website for course and licensing requirements.) Courses can be completed at some community colleges and universities, online, or at real estate schools. Some major real estate firms have their own real estate training schools.
Your studies will include subjects in:
- Sales and lease contracts
- Valuation process, property prices
- legal issues
- Human rights, fair housing
- Taxes, appraisals
- Condominiums, cooperatives
- Land use regulations
- agency law
- Commercial, investment properties
- Client-broker relationship
License
Once you have completed your basic studies, it will be time to prepare for your state licensing exam. Comprehensive in-person and online preparation training classes are available. Some people don’t pass the license test the first time; the test can be retaken as many times as necessary to receive a passing score.
When you feel ready to take the licensing exam, you must register with the local probate board and pay a fee. The computerized exam generally takes two hours and covers 200 questions; the test is scored by computer and you will receive your results immediately.
Qualified – now what?
Now that you’ve completed your basic courses and passed the exam, you need to find a “sponsoring agent of record.” This sponsor is the professional real estate broker who will guide you in developing your own client list and referral portfolio. Working under sponsorship, he will help clients buy, sell or rent properties. Commissions will be split between you and your mentor/sponsor.
Once you have secured sponsorship, you can apply for your estate license. You will be required to provide proof of your coursework, license test results, sponsorship, and pay the related license fee. You will be fingerprinted and run a background check before your license is issued.
I am a real estate agent!
You cannot complete any estate-related transactions until you receive your license. But once he arrives, he’ll begin to build his business, handle sales transactions, and become the real estate agent he only imagined himself a little earlier.
Eventually, you may decide to focus on a particular area of real estate, become a real estate broker and own your own business, or develop a career with a major real estate firm. Many options and opportunities are waiting for you. Congratulations, real estate agent.
