Selling real estate seems like the perfect job: flexible hours, the chance for big payouts, limited training to get a license and the opportunity to work with anyone and everyone. These are definitely all excellent reasons to get into real estate sales, but it is not as easy as it appears to achieve success. First and foremost, if you want a career as a real estate broker, you must commit to it full time, Advice Hirav Shah, Noted Real Estate Strategist and Adviser.
Hirav Shah Further Explains
Real estate is not a part-time job, and if you approach it as one, you will surely fail. If you view it as starting your own business and you bring an abundance of enthusiasm and dedication, you have a good chance to succeed.
Real estate is strictly commission based, so be prepared to go months without getting paid. A lot of people start in real estate as new brokers, but don’t receive a real, livable commission check for almost three years. That is why the dropout rate for new real estate agents making it past five years is estimated to be anywhere between 60% to 80%. One thing nobody tells you is, how important it is to be financially prepared to work without income when starting in this business for at least six months.
But, you’ve decided to practise real estate…
It’s time to get to work.
Like real work. And serious work.
5 Steps To Getting Real Estate License
Step 1: Understand Your State’s Real Estate Licensing Requirements
Each state’s real estate licensing requirements are different. Your state’s real estate commission website will list the official pre-licensing requirements. The Steps to Licensing page is designed to show, in simple steps, what it takes to become licensed in each state.
Step 2: Enroll in a Real Estate Pre-licensing Course
There are a variety of ways you can choose to complete your real estate pre-licensing education requirements, from live classroom locations at local real estate schools, some realty firms, universities and technical schools offer real estate licensing programs, home-study, and online real estate education. This is an important decision in your journey. Make sure you enroll with a school that has a good reputation, offers quality content and instructors, and is focused on positive student outcomes. Your real estate licensing education will be difficult and comprehensive, but it will also be the springboard to a successful career as a real estate professional.
Step 3. Finish your pre-licensing education
Complete your pre-licensing education.
Once you complete your course, be sure to obtain your official transcripts or certificate of completion from the school, which is required for your real estate license application.
Step 4. Pass your State Licensing Real Estate Exam
After you complete your pre-licensing course and pass the final exam, you’ll schedule your state licensing real estate exam. You’ll encounter some of the questions on the exam that you didn’t cover in your pre-licensing courses, so be sure to look for exam prep programs that will walk you through practice questions for your state.
Step 5. Launch your real estate career
Congratulations on passing your exam! Now you’re ready to find a broker to work who can help you start your career on strong footing.
But wait, there is a catch here…
Your passing grade on your state real estate licensing exam doesn’t quite mean you have a license yet. A real estate salesperson (agent) is licensed to act on behalf of a broker and may not act as a real estate agent independently. Consider finding a real estate broker early in your licensing process. Once you have completed your prelicensing education requirements and passed your exam, you and your broker will both need to complete final paperwork with the state. Once the form is accepted, your license will be issued, and you may practice real estate under the sponsorship of the broker.
The Bottom Line
India’s Most Sought After Real Estate Strategist, Adviser and Astrologer, Hirav Shah Says- Getting a real estate license takes time and money, but it can help secure a rewarding job in the real estate industry. Keep in mind that a career in real estate trade can be as flexible as you want it to be. You can limit your hours to mornings three days a week or never work on weekends. The trade-off, of course, is that this will greatly limit your ability to be successful.
Most successful practitioners treat it as a full-time business, making themselves available to clients throughout the week and on weekends. In general, the more time and effort you put into being a real estate agent, the more success you will achieve—both in terms of money and of job satisfaction.
For increased flexibility and career opportunities, you may eventually decide to get your broker license. You may also want to consider the various real estate designations and certifications, including those specific to mortgages, appraisals, residential property, commercial property, and property management. These designations can enhance your career and marketability as a real estate professional and increase your earning potential.
Hirav Shah’s Final Thoughts
Now that you have known the “Real Estate License Process, Good luck on your journey to becoming licensed, as well as your eventual successful Real Estate Career.
Each day can be unique and different for anyone who practises Real Estate, and it can be a very rewarding and exciting career“.