How To Become a Real Estate Agent
How To Become a Real Estate Agent
How To Become a Real Estate Agent is very simple and straight forward. I started as a realtor 15 years ago, and now I am a real estate broker / coach. Learn the 5 steps it takes to get licensed and to begin your new career as a realtor / real estate agent in Texas.
State Real Estate Agent Requirements
First you will need to pass a background criminal history check. Now this does NOT count out all felons, but it will make it harder if you have a felony on your record. Your state Real Estate Commission, will be harsh if you have a felon that is recent and/or associated with fraud. You may have to hire an attorney to represent your case to the board. Then, you will be finger printed and your finger prints will be sent to the FBI & State agencies. You need to pass a criminal background check because you will have access to peoples homes and valuable, so the government must be strict.
In order to receive a real estate license you must also be over the age of 18 years of age. Pass each exam according to your state. Texas is the Texas Real Estate Commission but each state will have their own. Check with National Association of Realtors as well to confirm your state requirements.
Complete Education Requirements
- Principles of Real Estate I (30 credit hours)
- Principles of Real Estate II (30 credit hours)
- Real Estate Finance (30 credit hours)
- Law of Contracts (30 credit hours)
- Law of Agency (30 credit hours)
- Promulgated Contract Forms (30 credit hours)
- other classes may be necessary depending on your state changes
None of these courses teach you how to make money. These courses only protect the general public. It is up to your broker / coach / mentor to teach you how to be successful in real estate.
You can complete your Education Requirements in as little as 18 days.
Texas Real Estate Commission
Why Become a Real Estate Agent?
Why become a real estate agent… #1 reason I love real estate is it offers freedom. Secondly, you are your own boss and you can chose who you will work with. Thirdly, you can chose how much money you want to make. There is no glass ceiling in real estate. You can go as far and you want to go. You can be an average realtor who makes about $49k annually or you can be a High Producing Agent that makes over $1 Million Dollars a year.
What do Real Estate Agents Do?
What do Real Estate Agents Do… well I like to think of it as we cultivate relationships and guide those clients towards one of the biggest investments they will ever make, which can be a home, investment home, or a commercial property. As a realtor you will never have the same deal, every transaction is different, which makes it exciting. We have to be a in-between between buyer, seller, and other associated parties, such as title company, loan officers, and inspectors…etc…
Can you make good money as a real estate agent?
The average salary for real estate agent is $49,000 annually from 2021 National Association of Realtors. However, most agents are not full time agents and practice real estate as a side job. The full time agents we train produce well over $127,000 annually. The $127K annual salary is very easy to accomplish. Let’s do the math.
Average Home in Urban Area = $300K (for instance)
3% Commission = $300K * 3% = $9,000
Minus Broker Fees and Marketing = 20% = $7200
Sell at least 2 Homes per Month = $14,400
$14,400 x 12 months = $172,800
Do Realtors get a base salary?
Most realtors about 97% work solely on commission. There are some companies that will pay you a salary + commission such as a new construction builder, but you will be limiting yourself. This can be a great way for you to get started however the builder will only want you to sell their homes. The builder will greatly reduce your commission sometimes from $10,000 just to $500 (like a bonus). But you will work on volume, so you can sell up to 10 homes a week. The advantage is you do NOT need to focus on marketing or other self employment issues. You will just need to focus on making the sell once the lead comes in the door.
How do I get into real estate with no experience?
The great thing about the real estate industry is you do not need any experience to become a real estate agent. This does NOT mean you will do well in real estate, but you can enter the industry simply on passing the exam and a background check. You can receive a real estate license in as little as 18 days according to Texas Real Estate Commission and other state boards.
The experience you learn from your broker, coach, and mentor will guide you to your success. This is how you will be successful in real estate. The state only is concerned with you abiding by all rules and regulations. The state is not concerned with you making money. That is the responsibility of your broker, coach, and mentor.