Are you a self-motivated, confident individual who loves to develop good relations with your customers? Becoming a real estate agent is one of the best professions you can adopt in this uncertain world. Hard work and love of the job lead to success, but becoming a real estate agent can be a little more than that. Today, I will tell you how to become a real estate agent in the US. From getting into this profession, applying for a license to developing good traits, I will pen down everything.
‘10 things to do when buying or selling your property!
#1- Call me I will handle the other 9!’
(A Real Estate Agent)
Getting Into Real Estate
Real Estate has always been a massive industry in the US. Want to know how huge? It contains more than 2 million people working in 335,000 companies, and in 2018 alone, it contributed to more than 2.7 trillion dollars (13% of GDP) to the US economy. Amazingly big, right? With this excellent reputation and success rate, money seeps into the roots of the industry. Hence, making it an extremely viable career option.
If you are iffy about having a career as a real estate agent, you need to find out if you have any personality traits that fall in perfectly with a successful agent. It will ease your mind before going on to know how to become a real estate agent. Let me describe some traits that come in handy to become a prosperous real estate agent in the US.
Traits to become a Real Estate Agent
1- Love The Profession
Not limited to just Real Estate, love for vocation leads to ultimate success. If you have a booming interest in the housing market and, of course, the architecture itself, you should head toward a career in real estate immediately. Tireless dedication and affection with property sales will make you more informed. It will give you an excellent market view along with improved sales.
2- Zeal For Making A Deal
You should be passionate and determined at the same time. Being a real estate agent is no child’s play. You will have to go through thick and thin every-now-and-then. You need to stay determined to win every negotiation. Every deal should be equally important to you. It will increase your chances of winning and add something to your pocket as well as the profile.
3- Client-Oriented And Honest
You may say it’s a 2 in 1 attribute, but being honest alone can build your reputation. And a good repute raises your chances of getting more clients. See it as a kind of advertisement; all you need to do is, be there to benefit the client, not for your bank balance. That is how to become a real estate agent. However, if you try to be dodgy or commission-oriented in that sense, you will completely FAIL as a real estate agent. Majorly because the Real Estate industry is client-driven!
Being good at relation-building with clients owes to one specific innate characteristic that is extroversion. A person social enough to keep in touch with the market as well as his clients all the time is quite rewarded throughout his career in Real Estate. The best of the agents make friends with clients and keep on expanding their circle. Being polite, passionate, reasonable, and friendly while being a good listener makes you their go-to guy for any help in the future. They may even refer you to someone searching for a top agent.
The Real Estate Industry highly values all these characteristics are. If you possess such personality traits, you will be able to count yourself in the top agents of the US soon. If you think you are ready to become one, let me brief you regarding that, as well. Primarily, you need a license to become an authorized dealer.
How to Become A Real Estate Agent – 5 Simple Steps
Generally, getting a real estate license in the different US states have quite similar steps. However, internal processes may vary. The steps include:
1- Take a pre-licensing course
2- Take the state’s licensing exam
3- File an application to activate your license
4- Find a real estate brokerage for yourself
5- Register with National Association of Realtors (NAR)
License Process for becoming Real Estate agent In The different US States
As mentioned earlier, every US state has its own internal process of a real estate license. Hence, I am going to provide a little finer view of licensing details in some states where the real estate is booming.
All the steps are the same for California, but the course and test requirements differ. The pre-licensing course has 3 divisions – Principles, Practices, and Finance -, which require 45 hrs each. 70% marks are minimum for passing each test. The authorities conduct an additional exam of 150 MCQs for California salesperson licensing. How long does it take to become a licensed real estate agent in California depends on the time you take to pass the exams, choose a brokerage firm, and register with the NRA.
Want to know how to become a real estate agent in Florida? Again the steps are the same as mentioned earlier. However, the pre-licensing course just spans over 63 hrs. The exam requires at least 70% or above to help you through. There is also a state’s own real estate salesperson exam you need to pass, plus submission of fingerprints in the Department of Business and Professional Regulations.
In Pennsylvania, the pre-licensing course is different. The 75 hrs course breaks into two parts: a 30 hrs real estate license fundamentals and 45 hrs of real estate practice course. Also, the passing requirement is over 75%. Moreover, Pennsylvania real estate salesperson exam requires you to answer 110 questions, including both state-related and national matters. You need to pass both exams to receive the license.
The pre-licensing course and passing limit differ in Georgia. With a passing limit of 72% marks or above, Georgia requires its agents-in-making to complete a 75hrs pre-licensing course and provide a criminal history report afterward.
Virginia requires a 60hrs pre-licensing course, which you need to pass with at least a 75% score. Furthermore, there is a state’s real estate salesperson exam containing 120 national and state-related questions.
The Cost Of Real Estate Agent License
Now let’s discuss the cost of the entire licensing procedure.
1- The pre-licensing course can cost around $300.
2- Exams come with a price-tag ranging from $125 to $700 depending on the state.
3- Errors and Omissions Insurance for $400.
4- Broker’s fee may cost from $25 to $500.
5- NAR membership costs between $150 and $200.
6- History Check and other requirements can cost you up to $100.
The whole process would cost you approximately $1,500 or above. Make up your mind before you dive into the licensing process, or it may cost you both time and money. Identifying your traits and hard work would guide you regarding how to become a real estate agent. Be determined, and you will succeed.
Career As A Real Estate Agent – Should You Really Adopt This Profession?
Should I become a real estate agent because I have the personality traits and maybe some interest in the overall US market? The answer is ‘No’. Before deciding your career, you should always study the chances of success, market value, kind of work, and maybe more of such factors.
In the US, an average real estate agent makes more than $50,000 annually, which is over $24 per hour. Not enticing enough yet? A career in real estate provides an unlimited money-making offer, unlike any other job. You can schedule your work hours, add a part-time job, and even roam about free without trapping yourself behind a desk. You are the decision-maker, and your promotion is in your own hands. Exceptionally few other jobs may be able to offer such privileges to its workers. The only thing that can keep you away from this job now is being passionate about it.
If you have any interest in this field and can manage to build a personality in-match with real estate agents, you should not wait to pursue a career in real estate. The United States is the hub of the real estate business, as its current worth exceeds $27 trillion. The job security and annual growth rate of 7% are some other significant aspects that can prove lucrative for you. Become a real estate agent and become a part of one of the biggest markets in the US.