Step By Step Guide To Becoming A Real Estate Agent

Key Takeaways

  • It is not necessary to get a real estate license as an investor, but it can be beneficial.
  • A Realtor is essentially a real estate agent registered with the National Association of Realtors.
  • There are several steps to getting a real estate license, each as important as the one that came before it.

If you are a real estate investor looking to take your career one step further, becoming a real estate agent may be the right path for you. Many investors have found that a real estate license can be helpful in a number of ways. For those interested in getting licensed, it is a good idea to familiarize yourself with how to become a real estate agent, as opposed to jumping in blindly. The process will allow you to continue your real estate education and potentially find new deals; however, there are several things aspiring real estate agents will want to consider before doing so. Continue reading to learn more about how to get your real estate license.

Top Factors To Consider Before Getting Your Real Estate License

While it is not necessary to get your real estate license to be a successful real estate investor, there are several benefits that make this an appealing route for many. One of the most notable perks is gaining access to the MLS, which can help investors find new deals. Many investors will also find that becoming a real estate agent can open doors with new network connections. It is a good idea to read up on the benefits of becoming a real estate agent if you want to learn more. If you are interested in getting your real estate license, here are some factors to consider:

  • The Course Load: Investors may be familiar with the industry, but do not underestimate the amount of studying you will have to put in throughout the process.
  • Your Schedule: Make sure you have time to complete the steps necessary to becoming a real estate agent. Account for the courses, exam, and application process.
  • Business Goals: Evaluate your investment business and determine the ways becoming a real estate agent will benefit your career.
  • Potential Profits: Consider your motivations for getting a real estate license and determine ways in which the potential profits could give your business a boost.
  • Education Style: Look into the required courses in your state and determine whether online or in-class options will be better for you.

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how to get your real estate license

Real Estate Agent Vs Realtor

A real estate agent is someone who has completed the required courses and exams in the state they intend to work. A Realtor, on the other hand, is someone who takes this process one step further by registering with the National Association of Realtors. By registering, Realtors agree to follow the code of ethics and standards set forth by the organization. It is not uncommon to hear the two terms used interchangeably; however, if you are considering becoming a real estate agent it is important to know the difference.

How To Become A Real Estate Agent In 6 Steps

For those wondering how to become a real estate agent, there are a few basic steps to follow. It is worth noting that while the general steps will be the same, the requirements to become a real estate agent will vary by state. Conduct careful research to ensure that you are following the right guidelines and coursework when determining how to get your real estate license. That being said, here are some steps to follow:

  • Make sure that becoming a real estate agent is a realistic goal for your investing career.
  • Enroll in pre-licensing courses and familiarize yourself with your state‚Äôs requirements.
  • Prepare yourself for the real estate exam and take the test.
  • Identify a real estate broker to sponsor you.
  • Officially submit an application to become a real estate agent.
  • Look into liability insurance and consider joining the National Association of Realtors.

Assess Yourself

Investors of all experience levels can become a real estate agent. The real question lies in if it will fit your needs and be a true benefit to your business. It is a good idea to assess whether or not becoming a real estate agent aligns with your business and financial goals. You should also take into consideration your current schedule and determine how the courses and exam will fit into your day-to-day life. Lastly, make sure you take into account the various fees associated with how to become a real estate agent as the costs may range depending on your state.

Get Educated

Once you have figured out how to become a real estate agent, the next step is to educate yourself. There are several real estate schools you can attend to prepare for the exam, and course requirements will vary depending on the state in which you live. InvestFourMore offers a great outline of the expected course load by state. Another option to consider is whether or not in-person or online classes will work better for you. There are options for both, and it will serve you well to mind your due diligence when considering which avenue will work best with your learning style. You should expect to learn about topics you may have varying levels of experience with, including real estate basics, legal concerns, and how to value properties.

Apply For & Take The Test

After you have completed your pre-licensing real estate courses, the next step is to apply for the exam. The test will vary depending on your state, and you can find more information through a little online research. No matter what area you live in, make sure you are prepared for the exam. A good way to boost your odds is to apply for the test soon after finishing your pre-licensing courses. This will help ensure the information is fresh in your mind. To sign up for the exam, you will typically have to fill out an application, attach the transcripts from your real estate courses, and submit a fee for processing.

Find A Brokerage

This is a step that many investors forget when trying to learn how to become a real estate agent. Before you can actually begin practicing, you will need to be sponsored by a real estate broker. A real estate broker is someone who has received their brokerage license by taking extra real estate courses. It is a good idea to keep this step in mind as you first begin your journey, as it can take time to develop a relationship with a broker you will want to work with. Luckily, as a real estate investor, you likely already have connections within the real estate industry. Use your network to your advantage as you find a brokerage to work with.

Send In Your Application

After completing the above steps, you are finally ready to submit an application to receive your real estate license. Once again, you will need to look into the documentation required in your state before submitting anything. More often than not, you will be required to submit an application, your course transcripts, proof you passed the licensing exam, your broker’s ID number, and several forms of identification. The application process will also likely require a service fee, which will vary by state. You can search online to find the specific requirements in your area.

Get Insured

Finally, depending on the area you will be operating in, you may be required to get insurance before you can begin working as a real estate agent. Some states will require errors and omission insurance, which protects agents in the event they make a mistake during a real estate transaction. An example of this could be if a real estate agent accidentally failed to disclose information about the previous property owners. At this point in the process, real estate agents may also be wondering how to become a Realtor. After passing your licensing exams, you can apply to join the National Association of Realtors through your local real estate board. It is a good idea to look into the benefits of joining the association and make an informed decision on whether or not this step is right for your investing career.

how to become a realtor

Summary

By choosing to become a real estate agent, investors can set themselves apart from the crowd and benefit from a variety of perks. Real estate investors doubling as real estate agents may be able to unlock new career opportunities and potential profits. Keep in mind becoming a real estate agent is not required to be a real estate investor; it can simply serve as another vehicle to achieve success. Now that you know how to become a real estate agent, you are already one step ahead of the competition. However, those that actually take the leap may find themselves the beneficiary of a number advantages.

Are you considering becoming a certified real estate agent? Please feel free to share your own journey in the comments below.

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