Tips for Becoming a Real Estate Agent
So, you’re thinking of becoming a real estate agent? We couldn’t be more excited for you! Maybe this is a career path you’ve dreamt of for years, or perhaps you’ve noticed the booming market and want to take part in the action. Whatever your reason behind the drive to join the industry, there are a few helpful tips to first consider.
The current housing market has sparked many to pursue a career in real estate. Since pandemic restrictions have been lifted, housing has been in short supply causing prices to soar. In fact, many homes are selling for more than 30% over the listing price. Experts expect the demand to intensify throughout the year, so we recommend doing a little homework before jumping right into this fast-paced market.
Here are five tips to keep in mind as you take the first step toward your new goal of becoming a real estate agent.
1. Learn from the Best
One of the best ways to learn the ins and outs of working in real estate is to gain first-hand experience from a seasoned professional. Seek out a top-rated real estate agent in your area as a possible mentor. Offer to treat them to lunch in exchange for a few minutes of their time to hear their insights and advice. Doing this opens the door to insightful conversations that can be useful in determining whether this is the right path to reach your personal and professional goals.
2. Research Your State’s Requirements
Becoming a real estate agent isn’t one-size-fits-all, which means the requirements are dependent upon your state. Start by visiting your state’s real estate regulatory office website which can easily be found with a quick online search or by visiting the Association of Real Estate License Law Officials directory. You’ll find that each state may have specific requirements for age, application fees, background checks, continuing education and more.
3. Obtain your Real Estate License
Now that you’ve experienced first-hand what a day in the life of a real estate agent is like, it’s time to make it official. Depending on where you live, the process can take between four and six months to complete and there’s a cost involved with the exam and activating your license.
The process generally includes the following steps:
- Take a real estate pre-licensing course
- Take the licensing exam
- Activate your license
- Join a brokerage
4. Consider Becoming a Realtor
Did you know that the term realtor and real estate agent are not synonymous? Both might work with home buyers and sellers, but Realtors are members of the National Association of Realtors and must follow its code of ethics. The National Association of Realtors represents over 1 million members who are brokers, property managers, appraisers and other professions within the real estate industry. Becoming a Realtor is an optional step, but it can lead to benefits in furthering your business.
5. Join a Real Estate Brokerage
Once you’re a licensed real estate agent or Realtor, you’ll need to find a supervising broker to work under. A real estate broker is licensed by the state and oversees transactions to ensure agents are following all standards. These arrangements may differ, but usually the brokerage pays agents a percentage of the commission from their sales.
Joining the real estate industry does require time, focus and money, but you’ll be on your way to a career of possibilities with the excitement of interacting with new people and the opportunity to enjoy a rewarding profession. If you’re interested in learning more about a trusted and experienced real estate agency right here in North Texas, visit pointswestagency.com. Our agents at Points West Agency are knowledgeable in guiding home buyers and sellers in the real estate process.