Be at least 18 years old. Be a US citizen. Have a high school diploma or the equivalent. Complete your required pre-license education. Pass your licensing exam.
If you’re majoring in real estate in college, check whether your classes will satisfy these course requirements. Some states will waive these course requirements if you’ve taken college-level real estate classes, and some colleges and universities will offer these classes as part of their real estate degree programs. [4] X Trustworthy Source US Bureau of Labor Statistics U. S. government agency that collects and reports labor-related information Go to source Some states will allow you to take these classes within a certain amount of time after you pass the test for your real estate license. However, most students find that it’s easier to pass the exam if they take the courses first.
In addition, getting a more in-depth education in things like real estate law, business, and marketing will make you more knowledgeable as you start working with clients. That can help you be more successful as you establish yourself. Some schools offer real estate as a major, while others offer real estate classes as part of a more general degree, like business. Some colleges and universities even offer graduate-level real estate courses. [6] X Research source
You’ll likely need to submit an application fee at the time you register for the exam. You may also need to arrange to have the transcripts from your prelicensure courses sent to your state’s licensing committee at this time. [9] X Research source Usually you’ll need to apply about 6 weeks before your testing date.
Follow the state’s instructions on how to submit your fingerprints as part of your background check. If anything in your background disqualifies you from being licensed, you’ll be contacted by the real estate commission.
Most licenses are only good for the state where they’re issued, so make sure you take the test in the state where you’re planning to practice. However, some states do have reciprocity agreements, meaning they’ve agreed that certain other state licenses are valid in their state. Check where yours is valid before you move or start working across state lines![12] X Trustworthy Source US Bureau of Labor Statistics U. S. government agency that collects and reports labor-related information Go to source
The test will typically cover some of the finances, economics, and politics related to real estate. If you know anyone who’s already passed their real estate exam, ask them about what the test was like. For instance, you might ask, “Was there anything you thought was especially hard?” and “What did you find the easiest?”
If you’re taking the exam online, make sure you meet any technical requirements, like having a certain internet speed or webcam and microphone. Once you pass the test, you’ll have an inactive real estate license. You’ll typically need to start working with a broker before your license can be activated. [16] X Trustworthy Source US Bureau of Labor Statistics U. S. government agency that collects and reports labor-related information Go to source
When you do finally get that big check from selling your first house, remember to set some money aside to replenish your savings. That way, you’ll still be taken care of if it’s a little while until your next sale. It can help to have some type of passive income, as well, like income from a rental home or stock dividends.
For example, if you live in a college town, you’ll typically be dealing with lots of young renters, short leases, and a boom in business every fall. Check out the American FactFinder, which is powered by the US Census Bureau, to check local the population and other statistics for your area: http://factfinder2. census. gov/. [20] X Research source
Look for a broker that matches your areas of interest. For instance, a broker that specializes in luxury homes won’t be the best fit if you want to work with young families. There’s no one right answer to what type of broker to choose—a bigger firm might offer more formal education, but a smaller firm might be able to provide more hands-on training.
Depending on your state, your active license will be good for anywhere from two to four years once you activate it. You’ll have to get it renewed when it expires if you want to continue working.
Start by asking senior members at your brokerage—they’ll usually have the most incentive to help you succeed, since everyone wins when the company as a whole does better. If you find yourself in a really competitive environment, though, you might look outside of your brokerage, instead.
You might think you don’t know that many people, but you might be surprised how big your potential client pool is when you think about it. For instance, you might reach out to people in your religious congregation, members of your softball team, or your volunteer group. You could even ask people like your doctor, former teachers, or the guy you buy your coffee from every morning. Make sure to spread the word on your personal social media pages, as well! Networking with potential clients is a huge part of being a real estate agent, so don’t give up, even if it feels a little awkward at first. You’ll get more comfortable with practice, and it’s an essential part of your success as a salesperson. [25] X Trustworthy Source US Bureau of Labor Statistics U. S. government agency that collects and reports labor-related information Go to source
When new clients contact you, ask them how they heard about you. That way, you’ll get a good idea for which marketing techniques are paying off and which ones don’t have much success, and you can tailor your approach as needed. Also, use advertisements, property listings, and open houses to get the word out about properties you’re selling. [27] X Trustworthy Source US Bureau of Labor Statistics U. S. government agency that collects and reports labor-related information Go to source
Over time, you may decide to focus more on one side or the other. However, when you’re first starting out, try to focus equally on both. When you’re representing a buyer, you’ll need to understand the type of property they’re looking for and what they can afford. When you work with sellers, you’ll need to help them decide how to price the property, then help them find the perfect buyer.
Follow up with your clients after a sale, like sending them a thank-you note after closing or mailing a card every year on their birthday.
You might be really great at working with first-time homebuyers, for instance, or you might have a knack for matching luxury buyers with their dream home. On the other hand, you might find that you’re passionate about helping business owners find the space to make their dreams come to life, so you build a focus on commercial properties.
Realtors have to abide by a tougher ethical code than real estate agents, so clients will typically see you as more professional and trustworthy if you’re a Realtor. [33] X Research source
You might need to work on short notice, too—super-desirable properties can sometimes go off the market in just a few hours! This can be a little tough, but the great thing about it is that the more motivated you are, the more likely you are to succeed!
Volunteering is a great way to meet people in your town—and you’ll really get to know the needs of your community when you’re helping to serve it. [37] X Research source
The more you know about real estate, the more competitive you’ll be as an agent—so the more you’ll improve your earnings potential!
Since you’ll be able to open your own business as a broker, consider taking business management, accounting, and finance classes, even if they’re not required as part of your license.
