Real Estate Agent

6 Steps to Becoming a Real Estate Agent

If you’re thinking about becoming a ‘successful’ real estate agent, you will need to do your homework. You’ll have to take courses for licensing exams, meet and talk with professional real estate agents who will help you get your first few clients, and finally, sit for the exams to get licensed.
Besides these important steps, there are still other things you need to consider. Read to know some of the most overlooked aspects of becoming a successful real estate broker.

1. – Educate yourself. States in US require potential real estate agent Dallas to take certain amount and number of courses before sitting for exams to get a real estate agent license.
This requirement may vary depending upon the states, though.
For example, people living in Idaho will be asked to take two 90 hours of pre-licensing courses, while those residing in California will have to take a 3-year college degree before they’re allowed to take the exams.
Other agents join real estate agency to get a firsthand knowledge from professionals. They’ll be asked to take additional courses to join these agencies, too.
Need more information? Visit your local real estate commission office.

2. – Contact a Brokerage. Your state may also ask you to work along with an experienced broker/agent(s) prior to becoming a real estate agent. Experienced brokers have several years (usually over 3 years) of real estate training that makes them a great partner to work and learn from. You simply need to ask them a question, and they’ll be right there to solve it and save you plenty of time and energy.
In addition to helping you with the theories, their practical knowledge will also help you locate good properties. Othertimes, real estate agents may even show you how to properly ‘close’ a deal.
Find experienced real estate agent/broker(s) at a local real estate brokerage, an office where real estate brokers and agents work.

3. – Get Licensed. Once you have the theoretical and practical knowledge at your fingertips, you are now eligible to take exam to get licensed. You’ll have to pass both local and national exams.
You’ll also need to pass other test that proves you’re a good citizen of the nation and you haven’t participated in any fraudulent transactions before. For this, you will have to show a criminal background record.
Expect to spend somewhere $100-$200 between the exams and paying for license fees. This cost may vary depending on where you live.

4. – Set aside sufficient budget. Entering into the real estate agent’s world isn’t cheap, although it’s cost-efficient than other professions. The startup costs could be somewhere between $1,000-$2,000 for pre-license course(s), exam fees, and advertising/marketing yourself to find ‘good’ deals.
Real estate isn’t a salary-based business.
Your income is dependent on the commission you make after closing each deal. Before quitting your current job, make sure to save enough cash for the next 5-6 month.
These savings will help cover all your expenses during your initial phase as a real estate agent, especially when good deals are HARD to come as you do not have good experience and exposure.

5. – Join NAR. Before you can use the title ‘real estate agent,’ you’ll have to join and attend certain number of events and meetings at the National Association of Realtors, or NAR.
Find a brokerage who’s affiliated with the NAR. He/she will help you.

6. – Build Your Real Estate Agent Portfolio. There are two ways to build your real estate agent portfolio and increase your chances of getting hired.
First, find a mentor from a real estate brokerage who’ll find buyers and sellers for you and split the commission. Working along with a mentor is a win-win situation for a new real estate agent. Not only you’ll get a first-hand knowledge and experience from these real estate industry experts, but as a newbie agent, you’ll also earn your first few commissions checks through initial deals.
Second, network with your friends, families, and referrals who may be interested to purchase, rent, or sell properties. There’s always someone who’s looking to purchase a property. These people can help you get started in your new business.

Becoming a real estate agent is just like starting your own business. There is startup costs involved (course fee, exam fee, license fee, etc) and a budget plan is required to manage your expenses until you have a built an ‘awesome’ portfolio. Take each step carefully and before the end of next 2-3 months, you’ll have your first “Property Sold” sign up before you run out of funds.
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