What are the first steps to becoming an agent?

Question

J Scott · Answer

First, do everything Bill said above ...
                              
                              A couple more thoughts:
                              
                              - Consider why you want to get your license?  And then ask yourself if that reason is worth the approximately 100 hours upfront, 10-20 hours/year, and several hundred dollar investment it will take. 
                              
                              - Also consider whether having your license will impede your ability to do whatever type of investing you plan to do.
                              
                              - Here's something I wrote on the pros and cons of becoming an agent:
                              
                              http://www.biggerpockets.com/renewsblog/2010/02/24/should-you-get-your-real-estate-license-investors/
                              
                              In terms of the actual requirements, basically you'll have to take either an online or an in-person course.  In my state, it's a 75-hour course (though I know people who spent twice that getting through the material online).  The course is around $300-400.  Not sure if all that is the same in other states or not.
                              
                              Once you are finished with the course, you will take an exam to pass the course.  Once you've passed the course, you can take the state licensing exam and apply for a license.
                              
                              If you pass the licensing exam and pass all the licensing requirements (for example, you have to "pass" a background check), you then receive your license and are eligible to work as an agent under a broker.
                              
                              There are ongoing requirements for continuing education (6 hours/year in my state), and your broker may have some requirements as well.
                              
                              That's the 10,000 foot view of it...

Bill Gulley · Answer

Well Felix, how did this question get so low on the board without an answer? Gee

IMO, I'd suggest talking to a Realtor, in fact make that a broker. You might get a sales pitch to go to work, but most will talk to you without twisting your arm, I think.

Before you go, read all you can and have your questions ready.

If you decide to go for it, your first step will be taking an approved course for a real estate license. Anyone that add, subtract, multiply and divide, read questions and answers and play chess can pass the test, IMO. Good luck!

E J · Answer

Not sure where you're from, but since I am currently going through the same process I thought I would chime in.

In Illinois, to become a salesperson you have to pass a 45 hour course and a state exam, then find a broker who will sponsor you. I took the class online (realestateexpress.com) and it was very straightforward. It was great preparation for the state exam which I took last week.

After passing the exam, you may seek a broker to sponsor you and/or continue on to earn your broker's license, which requires an additional 75 hours of coursework. I did this online as well, and I actually finished the 75 hours of class in about 10 hours over a span of 3 days (I used realestateexpress.com again). I am now scheduled to take the broker's exam tomorrow, only 1 week after passing the salesperson exam. To me, this was  well worth doing because the broker's license allows you to practice independently if you choose and because it will soon be mandatory to be a broker in Illinois (salesperson licenses are being eliminated, leaving only brokers and managing brokers). This will also improve your credibility overall education.

So, in a nutshell all you need to do is take a class, pass the class, then pass the state exam. At that point, you have 1 year to find a sponsoring broker or sponsor yourself if you did the broker class. As far as choosing an office to go work for, they all vary so you will want to interview various firms in your area to see how they split commissions, pay office expenses, and handle floor time and incoming leads. You will want to find out any other requirements they have and how they can help you as an agent grow and succeed.

Elisha Lowe · Answer

Felix,

There is some good advice here. My partner will be getting his RE agent license because it would be a great benefit to our business. After we read J Scott's article and the way he and his wife utilize the license - we were sold. We looked at a few programs and it seems fairly simple. In my state of PA I believe it's 60 hours of class time to start. You must factor in the continuing education and fees to state/local boards.

Almost anyone can become a real estate sales agent but it's tough to find a really good one. This is my own personal opinion buying and selling my personal homes.

Jackie Patterson · Answer

I might add that there are monthly and yearly dues.  Where I am it's about $95 a month to be a member of the local board and have access to the MLS.  Then there is a yearly fee of $150 for the state board.  You also have to pay for continuing ed. every year.  Depending on where you have your license, you will pay a monthly fee to the broker, and / or a percentage of your commissions.

What are the first steps to becoming an agent?

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