The Ultimate Guide to Getting Your Real Estate License: Steps, Costs, and More

 

The Ultimate Guide to Getting Your Real Estate License: Steps, Costs, and More


The Ultimate Guide to Getting Your Real Estate License: Steps, Costs, and More



Section 1: The Ultimate Guide to Getting Your Real Estate License


Section 2: Exam Fees and Date/Time & Location


Section 3: Exam Materials & Practice Exams


Section 4: Time to Re-Take


Section 5: Writing Essays


Section 6: Payment & Time Limits


Click here to read more about The Ultimate Guide to Getting Your Real Estate License!


… The story above is a preview from our March/April 2018 issue. For the rest of this story and more like it subscribe today, log in to read our digital edition or download our FREE iOS app. Thank you!


Mortgage lenders are not generally in the habit of liking new regulatory developments, but it is hard to disagree with the idea that certain guidelines adopted during the crisis and after may have given financial institutions an unfair advantage in getting a toehold in new markets.


Step One – Decide on an area of real estate


Once you have decided on your area of real estate, it’s time to start looking at real estate courses and schools to help you take the next step. There are many different choices to take, from online courses to live courses, but you must choose the right one for you. It’s always best to go in with an idea of what you want to learn, so you can save some money in your education costs.


1. Real Estate Institute of Canada (REIC)


The REIC is a member-led Canadian organization, which means they’re focused on working with the public to teach them the ins and outs of real estate. It’s one of the most well-known and longest running real estate course organizations in Canada.


Step Two – Learn the basics of real estate


Check out our 7-step tutorial on the ABCs of Real Estate.


You’re ready to get your real estate license. Here are the steps you need to go through before you get started.


1. Obtain a broker’s license (if you are not a licensed broker already)


In order to get a broker’s license, you must first become a licensed real estate salesperson in one of the states that you want to work in.


So before you start buying and selling, you need a broker’s license. This means that you will need to take courses and pass exams to become licensed.


Steps Three, Four, and Five – Get your education


Step Two – Choose your broker


Step Two – Choose your broker


Step Three – Get your real estate license


Step Three – Get your real estate license


Step Four – Sell a home


Step Four – Sell a home


Step Five – Get referrals


Step Five – Get referrals


Applying for the Real Estate Licensing Course


Step One – Your exam fee


Applying for the Real Estate Licensing Course


Step Two – Your training class fees


Applying for the Real Estate Licensing Course


Step Three – The written exam


Applying for the Real Estate Licensing Course


Step Four – The agent exam


Applying for the Real Estate Licensing Course


Step Five – The broker exam


Applying for the Real Estate Licensing Course


“Real estate is the most economic way to buy and sell real estate.


Step Six – Find a licensing school


Finding an affordable and licensed real estate school is a major factor in your journey to becoming a real estate agent. In fact, it is most likely the reason you’re still in school. But it is also the most crucial.


The last thing you want to do is jump into the deep end without being sure what you’re getting yourself into. Not only does this experience help determine if your passion for real estate is for you, but if it’s truly a lifestyle you can succeed in.


Step Seven – Take the state exam


Once you pass your state exams, it’s time to get your real estate license. As a licensed broker you will have the right to sign and close contracts, and sell homes for someone else.


Remember, it’s easier than you think!


Step Eight – Take your marketing to the next level


Once you pass your state exams, you have the license to sign and close contracts and sell homes for someone else.


But it’s not enough!


Today, you need to market yourself and show the world who you are. People don’t buy what you do, they buy who you are.


You must market yourself, and what you bring to the table, in order to be seen and sold.


Step Eight – Work on your networking skills


Networking can take the form of posting a real estate ad in the newspaper, finding buyers’ agents or others in the industry to introduce you to, sharing your listing with the local chamber of commerce, or simply speaking with local real estate brokers. As with any industry, there are new agents joining the market everyday, but if you’ve already started you can reach out to those who’ve been in the business for years or even a decade to get some advice.


For example, will the buyer of a $1.5 million home need to send a $10,000 deposit upfront? No, so don’t expect to see that deposit in your bank account on the same day the deal closes.


Conclusion


If you’re wondering if real estate is a good career choice for you, there are plenty of ways to start the training process, without spending a lot of money. If you’re lucky, you may even be able to get your real estate license for a pretty reasonable price, and some areas have it even cheaper. No matter what it is, the process of becoming a real estate agent can be costly and overwhelming, but it doesn’t have to be!


I asked some successful agents how they started their careers, and received answers ranging from a student loan and savings plan, to saving their own money, to going without to support their own business. They all had a few things in common.



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