5 Things You Should Know About Getting A Real Estate License.
Congratulations! Sometimes taking the first step towards making your dream a reality is the biggest step…perhaps the scariest!
I met with a newly licensed agent today who was interviewing brokerages and it reminded me of the other unknowns in getting your real estate license, that those who have been licensed for a while tend to forget. Know why we “tend” to forget them?…because they are terrible and we often feel like we are bobbing around in the middle of the big old ocean by ourselves and we either have no one to help direct us or we feel like those who are helping could potentially not be giving us the whole truth or have an ulterior motive.
I want to share with you 5 things to think about as you begin your journey to licensed Realtor.
- Understand the licensing requirements for your state. This goes beyond how many classes you need to take. Usually, this will consist of an application, background check, and fingerprints.
- Something you did in high school that you may not be proud of and think was expunged or taken care of while you were a minor may not have been. Please take a moment to make sure that it was and if not have supporting documentation to show that whatever infraction occurred in some hormone-induced hazed actually is. You will know a new level of frustration if you work so hard to educate yourself and pass your exam to only be pushed back weeks if not months by something you forgot about long ago.
- Fingerprints will need to be taken…part of that background check above. Here’s the thing though, sometimes you won’t figure this out until you have completed your course work, applied for your license, and sometimes even after you have completed your exam. It can take up to 2 weeks for your fingerprints to be processed and sent to the state licensing department. I tell everyone who is looking to get their license to do that as quickly as possible. In Texas, you are issued a “number” after your education requirements have been met by the state. This number is used to schedule your real estate exam but is also used to schedule an appointment to have your fingerprints taken. Once you receive that number, I suggest you call and have your fingerprints done, even before taking the exam. Then once you pass your exam the process is already underway and you won’t be waiting an additional 2 weeks to have your license issued. I’m not sure of the requirements in other states, but this would be a great question to ask your states licensing department.
- Choosing a real estate school whether online or one with an actual classroom setting can sometimes be a little overwhelming. One thing you should think about is how you learn best. We are “adult learners” and often times the methods of learning and test-taking we used to get us through high school and college will be a little different now. Although our daily schedules and availability will factor into what seems like the most feasible option, take a moment to really think about how you absorb and retain information. Do you need to write things down? Hear it from a person and have the ability to ask questions? After working all day, will you be able to sit in a 4-hour instructor-led class and stay awake let alone retain information? I will give you a little advise here though, sometimes you can mix and match what’s best for you. When people tell me they are doing their real estate classes online (I did for my Texas license as well), I encourage them to at least take an exam prep class in person.
- The costs of becoming licensed stretches beyond what you will pay for your real estate licensing courses and exam. Once you have passed your exam you will also have additional expenses to consider. Your local, state and national real estate association dues are a big one. In Texas, it’s around $500 per year. You’ll also have to pay for MLS access, key access to view properties, and depending on the brokerage you join there could also be application and or start-up fees for them. Knowing this going in will give you a better understanding of what the actual costs of starting your real estate career will be and help you budget accordingly.
Use this post as a little checklist and you’ll be well on your way to a successful career in real estate with very few surprises or potential roadblocks along the way. If you have any specific questions or if I can be a resource to you at all please don’t hesitate to reach out to me via my contact me page on this blog or via social media. Good Luck!!