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There are over 3 million real estates in the US, and 40% of them are located in California, NY or Texas. Those numbers may either scare you or motivate you. But if still want to me a real estate agent, you’ll need a working knowledge of real estate and a few other key skills. In this article, we’ll provide all the tips and tricks you need to know to become a successful real estate agent. If you’re in a hurry, you may just watch the video at the end of this article.
1. Research Requirements
If you want to become a real estate agent, the first step is to research the requirements in your state. Each state has different requirements for licensure, so make sure you’re familiar with your state’s laws and policies. Generally, you will need to be at least 18 years old, have a high school diploma or GED certificate, complete a real estate pre-licensing course, pass the state exam, and submit a licensure application. You may also need to provide references and a background check. To get a head start, visit your state’s real estate commission website to learn more about their specific requirements.
2. Education & Training
Becoming a real estate agent requires you to obtain the proper education and training. You will need to complete a state-approved pre-licensing course and pass the real estate licensing exam. Depending on the state you live in, the amount of hours required to take the course may vary, but most states require around 60 hours of instruction. You will learn about real estate laws, principles, practices and terminology through the course. Once you have successfully completed the course and passed the licensing exam, you will officially be a real estate agent!
3. Take Licensing Exam
If you want to become a real estate agent, you will need to take the licensing exam. This is typically a multiple-choice exam that you can take at a testing center. You will need to check with your local and state real estate agencies for the specific requirements in your area, as each state has different rules and regulations. In most cases, you will need to pass a background check, provide proof of education, and pay a licensing fee. Once you have met all of the requirements, you’ll be ready to take the exam and hopefully become a licensed real estate agent!
4. Submit Application
Once you have completed your pre-licensing courses and passed your real estate exam, the next step is to submit your application for a real estate license. You can find the application for your state on the real estate commission’s website. The application will typically require you to provide personal information, such as your Social Security Number, proof of residency, and your pre-licensing course completion certificate. It is important to read the instructions carefully and provide all of the required information. If you forget to include something, it can slow down the process. Once you submit your application, there is usually a processing fee that you must pay. After that, you will typically receive your real estate license in the mail within a few weeks.
5. Secure Errors & Omissions Insurance
Becoming a real estate agent requires you to obtain Errors and Omissions insurance, which protects you from any potential claims of negligence or inadequate performance. This policy is designed to protect you from any legal and financial repercussions that may arise from any advice you provide to your clients. You can usually obtain this type of insurance through an insurance company, or an independent broker specializing in real estate agents’ insurance. Make sure to thoroughly research the different types of policies available, and the costs associated with each one, before making your final decision.
6. Find Clients & Start Selling
If you want to be successful as a real estate agent, you need to find clients and start selling property. One way to do this is by marketing yourself as an agent, such as by creating a website, attending networking events, and leveraging social media.
You should also make sure that you are aware of what’s happening in the local market, so you can be the source of information for your clients. Finally, get out there and start talking to people – the more you talk about real estate, the more likely you are to find potential buyers and sellers. That is true even if your plan is to flip houses.
