A real estate agent deals with buying, selling, renting or leasing properties. With a license, you would be able to legally sell homes in Las Vegas the ridges, and potentially an array of other locations. They can be responsible for renovating a property to boost its value, and they can manage wild, undeveloped land as well. There can also be different agreements and trusts like this delaware statutory trust 1031 for example, where situations can be altered for the benefit of the real estate brokers, surrounding ownership, and managing assets. Being a real estate agent can be a great career option, with people earning enough to lead comfortable lives!
Before you can work as a real estate agent anywhere in the United States, you will need to be aware of the potential lenders, competitors, tenant verification processes carried out by associations like AAOA, and the basic requirements for getting your real estate agent license. Licensing requirements can vary from state to state. Consider carefully poring through your local, as well as state government’s official websites to understand what the necessary licensing requirements are. Then, it’s time to start working on obtaining your real estate agent license.
How Can You Get A Real Estate License in the US?
While nearly every state has separate rules and requirements when it comes to getting a real estate license, the general patterns is usually pretty similar. You’ll find yourself taking a pre-licensing course, followed by a qualifying exam. In every state, you have to take two exams. The first exam tests your knowledge of national principles and policies related to real estate. The second tests your knowledge of state-specific laws.
After this, you need to apply for your real estate agent license with your state. Once you receive your real estate agent license, you will need to work for your real estate broker sponsor for anywhere between one to three years.
This is how you get your real estate agent license in the US:
1. Take The Pre-Licensing Course
A good pre-licensing course can shorten the amount of time it takes for you to become a working real estate agent. There are online classes, as well as traditional classroom based classes for the pre-licensing course. Some institutions offer fixed classes that teach you the course syllabus within the designated time.
Other institutions are more flexible in their approach. You can complete your course according to your schedule. When you’re choosing the real estate pre-licensing course that is best for you, remember that your course must be from an accredited university.
Your syllabus will include officially recommended courses for real estate agents, such as principles of real estate, and financial management for real estate agents. The number of hours of classroom education you need to complete can vary from state to state as well. In Texas, you can need up to 180 hours of real estate based courses before you can take your qualifying exam. In New York, that drops down to 75 hours. For California, it’s 135 hours.
2. Take Your Real Estate Agent Exam
Your real estate licensing exam will present to you two question papers that you need to complete. Both papers are computerized multiple choice question papers. You can expect to answer around 100 questions per paper. The actual number of questions can vary from state to state, as does the time allotted to complete the papers.
Depending on the state you take your real estate agent licensing exam in, you can get between one a half to three and a half hours to complete your exam.
The first paper tests your knowledge of national real estate principles, while the second paper tests your knowledge about real estate when it comes to your state.
3. Apply for Your Real Estate agent License
You can complete this step only after you’ve sat for your qualifying exam. Consider keeping your transcripts or results from your exam, as this can help you when applying for your license.
You can apply for your real estate agent license by sending in a filled application form, your required documents, as well as your fees to the state real estate agency. When they approve your license, they’ll send it to you directly.
4. Work As A Real Estate Agent
You can’t legally work as a real estate agent unless you pass your qualifying exams. You will also need to eventually reapply for your license, when it expires.
For the first two to three years after getting your real estate agent license, you will need to work for the real estate broker who sponsored you. Everyone who applies for a real estate agent job will need to be sponsored by a broker. After you get your license, you will need to keep working under your sponsor for up to four years before you can apply for your own broker license. Within three years, you can start looking for work somewhere else, consider building your own real estate business etc.
If you follow these steps, you can ensure that you receive your real estate agent license. Anyone above the age of 18 can apply to become a real estate agent, and there’s no prior educational qualification necessary. Those who have a degree in real estate, or are licensed attorneys, can get real estate agent license earlier. Please remember that if you wanted to be a real estate agent in another state, then you may need to sit for exams. You’ll also need to apply for a real estate agent license that’s specific to the state you want to shift to.
Some states have a reciprocity agreement however, which allows you to continue working as a real estate agent in member states.
If you’ve been working hard to build a real estate agent career for yourself, consider protecting it as well. Business insurance can give your real estate business coverage it needs to sail past various business challenges. Find out how business insurance can protect your career as a re estate agent, by click here.