Pay for membership to the local multiple listing service. Membership in your local MLS is essential, since you must use the system to list properties, which are then dispersed to websites like realtor.com®. The service also enables you to easily pull a property's tax information, analyze market trends, and see listings before they go on the market. Costs vary greatly: Membership for Maryland, Virginia, and Washington, DC, agents to the Metropolitan Regional Information Systems, for example, costs $1,136 per year; while on the low end are areas like California's Southwest Riverside County, which charges MLS dues of $220 per year.


The simple answer is, “it depends.” It mostly depends on where an individual wants to practice real estate. Becoming a real estate agent requires a state license. Each state regulates their own real estate licensing process, and each state’s regulations or rules are slightly different. But, there are a few basic requirements that are always consistent.
Even if it's not your first rodeo; the real estate market is constantly changing, so don't underestimate the benefits of dealing with a real estate broker or agent who knows the area. Wouldn't you like to know what the real estate trends are to take advantage of, or the new housing market legislation that might affect the price and conditions of the house in the long run? What about the current market for rentals or even commercial real estate? There's no one better to advise you on that than the agents listed on The OFFICIAL Real Estate Agent Directory®.
Passing the real estate exam takes more than finishing the educational requirements—it takes preparation. Not everyone passes the exam the first time. Preparing yourself to pass the state exam takes additional study time. Kaplan highly recommends enrolling in an exam prep class. Because the ultimate goal is to help you pass the exam, most of Kaplan’s prelicensing packages include the comprehensive Exam Prep Course. Taking practice exams, measuring your strengths and weaknesses, and working through comprehensive topical review will sharpen your knowledge and prepare you for exam day.

In order to become a real estate agent and legally practice real estate, you must work under a supervising broker. Brokers are licensed by the state to oversee real estate transactions and ensure that real estate salespeople (that's you!) are adhering to the required legal and ethical standards.Think of it as a similar safeguard to how stockbrokers must work at a licensed firm to trade stocks, rather than just winging it on their own. Eventually, you could also apply for a license to become a real estate broker as well, but you will first want to get a few years as an agent under your belt.


Do you know how to calculate the fair market value of a house? What about the capitalization rate or real estate conversion? Do you know what is the right type of appraisal for the house? The situs definition, as well as the replacement cost or income approach, may seem foreign to you. Moreover, as a real estate investor, do you know how to convert a warehouse into a loft? Or what novation in real estate means? Real estate agents are like copilots - they help home buyers, sellers and renters navigate through all the real estate documents they need to sign explaining all the unfamiliar real estate terms. And business gets a lot more complex as we dive into commercial real estate.

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