A career in real estate can offer independence, opportunities for growth, and a lucrative future. Whether you are a recent graduate or a professional looking for a change, there are plenty of reasons to become a real estate agent. However, there are some factors you should consider before taking the leap. The following are some of the details you should know about launching a real estate career.
What to Know Before Pursuing a Real Estate Career
Your State’s Requirements
The specific requirements to become a real estate agent vary by state, so be sure to research your state’s guidelines. In general, you will need to be a U.S. resident and over 18 years old to become an agent. Some states have raised this age to 19. Aspiring agents will also need to enroll in their state’s real estate pre-licensing course, which will prepare you to pass a licensing exam.
Once you pass this exam, you will likely need to apply for a real estate license and pay associated fees. The state real estate board may complete a background check and confirm your residency. You may then apply to work under a real estate broker to start training and earning a salary. This will set you up on a path to working as an independent agent.
As with any business venture, there are some startup costs to becoming a real estate agent. Again, the specific costs will depend on your state, but there are some common costs that you can expect. You will first need to fund your pre-licensing course, licensing exam, and license application.
Once you become an agent, you may need to pay a base fee to the broker you are working under. This is because they cover many of the base business costs. You will eventually take on those business and marketing costs on your own to earn clients and grow your franchise. Over time, you will need to pay for continuing education courses and membership fees to any organizations like the National Association of REALTORS®. All of these costs will fund your future success as an agent.
Ingredients for Success
As you allocate resources to your business and build your client base, a few key characteristics will come in handy. Before you become a real estate agent, ensure that you are looking for a people-focused career and have developed your interpersonal skills. You should also hone your time management skills and learn to be flexible with your hours. Remember that you are helping people make life-changing purchases, so you should be highly organized and accountable. All of these attributes will make or break your career over time.
Have what it takes to become a real estate agent? The team at EXIT Realty Upper Midwest has the resources to help you succeed. As a franchise owner, you will have access to growth opportunities, training, and impressive company benefits. Their high-tech approach to real estate makes them a competitive player in the Midwest market, training you in the latest best practices. They have locations in Iowa, Illinois, Wisconsin, North and South Dakota, and Minnesota. To learn more about franchising opportunities, visit them online or call their main office at (651) 505-3570 today.