What is a Real Estate Agent? – Definition, and 10 Best Steps to Become
Real Estate Agent Definition
A real estate agent is a licensed practice who positions real estate transactions, putting buyers and sellers composed and acting as their representative in negotiations.
Real estate agents usually are compensated entirely by a commission—a percentage of the property’s buying price—so their income is contingent on their ability to close a deal.
It must work for or affiliate with a real estate broker (an individual or a brokerage firm) who is more knowledgeable and licensed to a higher degree in almost every state.
The Best 10 Steps to Become a Real Estate Agent
No matter what nation you live in, you must follow these necessary steps to obtain your real estate license:
1. Understand Your State’s Requirements
- The first step in becoming a real estate agent is to research your state’s pre-licensing course requirements.
- Every state is different, so you must pay attention to the courses that require for your condition.
2. Select a Real Estate School
- Be sure to select an ARELLO accredited real estate school that offers pre-licensing courses specific to your state.
- You will also want to choose if an online school or classroom is the best choice for you.
- We’ve composed a list of five key questions to ask when choosing a real estate school to make an informed decision.
3. Finish Your Real Estate Pre-License Course
- All states require some type of course before you can take the real estate licensing exam.
- The type and number of courses required will vary from state to state.
- Determine how much your pre-licensing course will cost you to save money or get financing before starting your real estate career.
4. Study for your Real Estate Pre-Licensing Exam
- Before you can take your national real estate exam, you will need to pass the pre-licensing exam at the end of your course.
- Many students choose courses online, in which case this exam will also be online. Don’t intimidate by the idea of studying for a test. Even you’ve been out of school.
- These study tips can help you maximize your time and prepare you for success on test day.
- Once you pass, you will need to obtain your official transcripts or a certificate of completion for the course.
- If you think you may need additional guidance, consider a real estate exam preparation program that will help you study state-specific material for your state real estate exam.
- Our Master Exam Preparation program prepares you for the specific topics on your state’s licensing exam.
- Almost everyone who completes the Master Exam Preparation program passes their real estate licensing exam on the first try.
- But, if you don’t, we will refund your money.
5. Apply and Schedule your State Real Estate Exam
- Once you pass your real estate pre-licensing course, it’s time to register for your state licensing exam.
- Typically, the application fee is about $ 25. Find out when and where the next real estate exam will take place in your state.
- Third-party testing centers most often administer these.
- Be sure to get information about parking, hours, and any supplies you need to bring on the day of the test.
Note: Some states require you to be fingerprinted, complete a contextual check, or have errors and omissions cover on hand before you can take your state exam. Before taking your exam, ask the test center what documents you will need to have on the exam day.
6. Select a Broker, Broker, or Sponsor
- Depending on your state, your Broker may need to sponsor you to take the real estate exam.
- Choosing your broker can happen at this stage, or it can happen later, once your test passes and you are ready to go to work.
- Selecting a broker or broker to work for is one of the most critical steps of your real estate career.
- Your broker can influence how you get salaried, how much you earn, your niche, and what resources are available to advance your career.
- Make sure to do your research in this step and find a broker that genuinely fits your goals.
- But it is your task to interview them and select the one you feel most comfortable with it.
7. Pass Your State Licensing Exam
- Taking and passing your state licensing exam is essential in our checklist of becoming it.
- Each state has different passing requirements for the licensing exam.
- To ensure you permit your exam the first time, remember to consider taking a real estate exam prep course.
8. Join Professional Real Estate Organizations
- Once you have approved the exam and obtained your real estate license, you will want to become a member of the State and Local Multiple Listing Services (MLS) and perhaps the National Association of REALTORS ®.
- These organizations provide valuable networking tools and professional resources.
- As a member, you will attend national conferences and access valuable research that can help you stay present on trends and best practices in your niche.
9. Complete the Required Post-License Real Estate Courses
- A handful of states require that you complete the post-license real estate course within the first 6-12 months after obtaining your real estate license.
- Don’t let this slip off your radar.
10. Launch Your Real Estate Career
- Once you have all your systems in place, inform everyone you are in the real estate business.
- You will soon start interacting with potential buyers and sellers, and you will be in business!
- Now comes the part you were to go for: your first transaction.
- Even if you feel confident, it is always good to have your work checked by a more experienced agent to ensure that you are doing the best for your clients.
- After everything does, sit down, pat yourself on the back, and smile – you are officially a real estate agent.
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