Starting a career in real estate can be very lucrative and rewarding at the same time. Real estate professionals are similar to small business owners as many of the responsibilities of owning a business are the same. Essentially you are running your own business with many of the same issues a business owner has.
Before you can become a real estate professional, there are some essential steps you must take. While the process isn’t easy, it’s not overly complicated either. If you stick to an outline and comprehend all the training, you should do just fine.
Ross Quade an Austin, Texas Realtor explains, “In the real estate business you need to follow laws and the standards of the industry, but there is plenty of room to run your own business and essentially be your boss too.”
One of the first things you should do is read up on what are the basic requirements in your state. You don’t want to put the cart before the horse and take all the real estate course to find later out that you can’t meet the state requirements of a real estate professional. You can search online for “State + Real Estate Agent Requirements” to find the specific government documents for your review. If you can meet the requirements, great! On to the next step.
Real Estate Courses
The essential part of becoming a real estate professional is learning about the industry and laws surrounding it. To get your real estate license, you will have to take several online or in person courses that generally take three to six months to complete. At the end of these courses, most schools will provide practice exams to help prepare you for the state exam.
Take the State Licensing Exam
In most states, the state licensing exams don’t happen all the time, but they do happen often. You can perform a search online to find the nearest testing location and available testing times. Keep in mind before you take the state exam, you will have to pay a fee that goes to the state licensing board.
Layer on Becoming a Realtor
It is a common myth that all real estate professionals are the same. This is not true. There are real estate agents and realtors. A realtor abides by a stricter code of conduct and belongs to the National Associations of Realtors. There is more prestige in becoming and calling yourself a realtor.
Find a Brokerage to Join
Most real estate professionals work under a real estate broker. A broker is an extra step of licensing and experience level who oversee agents or realtors and are ultimately responsible for all real estate transactions under their umbrella. A broker will often provide ongoing training, guidance, support, and act as a mentor while you start your real estate career.
It is vital that you find a brokerage that you will feel comfortable with and you can learn from in your new position. It would help if you interviewed with several brokerages not to better your odds of getting hired, but you are also interviewing them as well.