As of 2020, the global real estate agency market valuation was at $960.12 billion with an estimated 5.1% growth rate.
Recently you’ve been ruminating about a career change due to the desire for novelty. After carefully analyzing the job market, you’ve decided to switch to a real estate agent job. Yet, you don’t have the experience, and you’re looking for ways to start.
Lucky for you, this article will divulge how to become a real estate agent with no experience. Read along to get valuable pointers to help you launch your real estate agent career with no experience.
Meeting the State’s Requirements
Real estate licensing isn’t done at the national level; you thus, need to apply in your local state. Check on the internet the real estate regulatory authority mandated to do licensing in your local state.
Once you’ve checked the regulatory authority’s website, research the requirements to become a real estate agent. Most requirements are generic across all states, with only a few unique situations in some states. Below are some of the requirements;
- Your age
- Education level
- Courses required to get completed before licensing
- Exam eligibility requirements
- Fingerprints for conducting background checks
- Criminal history
- Application fees
The good news is that some of the states are in reciprocity agreements. This is where you can use the state’s real estate agent license in another state. Cutting you the need to do other exams to get the license.
For example, in Washington DC, you can get a real estate license through reciprocity if you are from Virginia and Maryland. You need to show your License from Virginia or Maryland, and it must have been acquired on good grounds. But, you need to take a three-hour DC Fair Housing course.
Enroll in a Licensing Course
Same as medical licenses where you have to do short courses before the license exam applies to the real estate agent license. This isn’t limited to any state, you have to take a pre-licensing course before sitting for the exam. The number of hours taken to complete the course differs with the state administering the license.
For Texas, it takes approximately 180 hours to complete the real estate pre-licensing course. In other states, it may take longer or a shorter period to complete the coursework. The courses are flexible as you can decide to take online lessons wherever you are at your convenient time.
You can get the courses from community colleges, online classes, or a conventional real estate school. Assess the course within your budget so that you don’t hit your pocket hard while there are different options.
More so, choose the learning method that works best for you according to the delivery and schedule. Ensure the timings of your lessons don’t conflict with your working hours or other activities you’re doing.
Go for the best course, as that’ll determine how prepared you’ll be to tackle the exam. Aceable Real Estate offers the best course to launch your real estate career.
The school you take your real estate pre-licensing course from will tell you the way forward to sit for the exam. In the case, you fail to get the instructions, which is so rare, go to your state’s real estate regulatory authority website. You need to get information about scheduling, registering, and paying the required fees for the licensing exam.
The exam is always divided into two sections; the national part and the state’s part. The exam is in multiple choices, and you need to be well versed in these topics;
- Real estate general principles
- Law of contracts
- Law of agency
- Real estate finance
- Promulgated contract forms
The two sections get graded independently, and to pass, you have to reach the minimum mark in both segments. The number of retakes you may take after failing differs with different states. More so, how long you should wait before retaking the exam also varies with the state.
Remember to pass the exam; the course you chose will influence how prepared you are to complete the exam.
Applying for the License
After you’re done with the licensing exam and pass, you become eligible to receive the real estate agent license. You have to fill in the application form and pay the required application fees. Your application gets assessed while you undergo background checks.
On average, it takes around 5-10 business days before you get mailed your license document. The law is clear that you aren’t allowed to practice without a license from the relevant authority. Even after you pass the licensing exam, make sure you wait until you have your license certificate before working.
Become a Realtor
Though the line between a real estate agent and a realtor is thin, the two terms have different meanings. To become a realtor means you’re registered in the National Association of Realtors. Once you become a member, you have to abide by the strict code of ethics.
The National Association of Realtors is one of the largest organizations in the US. The body is composed of real estate brokers, salespeople, and property managers. Being a member is optional, but it carries many benefits that can skyrocket your real estate career.
Join a Brokerage Firm
Being in a brokerage firm means you work under an oversight given the mandate to conduct real estate transactions. Most likely, you’ll be paid on commissions when you join a broker firm. More so, you’ll get training on how to ace real estate jobs.
Discover How to Become a Real Estate Agent With No Experience
Real estate jobs are rewarding if you become patient while building your way up the ladder. Having the license is a great way to prove your credibility and trustworthiness to potential clients. The above pointers on how to become a real estate agent with no experience will guide you when starting your career.
Found this article informative? Check out our other blogs on Marketing, Business, and Technology.