Don't expect to waltz in and collect an hourly salary: Most brokerages pay their agents only by commission. In other words, you get paid only when you complete a transaction, and you typically won't receive benefits. Due to this pay structure, brokerages are typically eager to welcome new agents, since it comes at no cost to the company. So be sure to find a brokerage you like, one that is open to taking you on so you can receive some on-the-job training.
The course will teach you real estate principles (terms like "lien," "escrow," and "encumbrance"), real estate practices (like how to determine a property's value), and the legal aspects of the business. Go to your state real estate commission's website to find information on licensing requirements and a list of accredited pre-licensing institutions.
The first step in this process is making sure that real estate is right for you. As a real estate salesperson, each day is spent working for you. This means handling your own office management, paperwork, prospecting leads, developing relationships, managing contacts, and dealing with buyers and sellers. Reach out to local real estate agents and brokers and ask them questions about what the day-to-day work is like. Ask questions about real estate as a long-term career. Starting a full-time career as a real estate agent can’t be treated like a hobby. It requires a full commitment. Make sure real estate is the right path for you.
Each state’s real estate licensing requirements are different. Your state’s real estate commission website will list the official prelicensing requirements. Kaplan Real Estate Education offers a couple pages that narrow this knowledge gap down. The Steps to Licensing page is designed to show, in simple steps, what it takes to become licensed in each state. In addition, Kaplan offers a page dedicated to each state’s real estate licensing and continuing education requirements. See the link below for your state’s pages.
A realtor is a member of the National Association of Realtors (NAR), a trade association. Both agents and brokers can be realtors, along with property managers, appraisers, and other real estate industry professionals. Realtors are expected to be experts in their field and must follow the NAR’s code of ethics, which requires agents to uphold specific duties to clients and customers, the public, and other realtors. In addition to NAR, realtors must belong to a state or local real estate association or board.
States require people to take pre-licensing training from a certified institution before they can sit for the real estate licensing exam. The required number of training hours can vary significantly by jurisdiction: In Virginia, for example, real estate agents must take 60 hours of pre-licensing training, but in California they need to take 135 hours.
We're not getting a cut from those agents commissions either. We have built such a strong, easy to find, recognizable brand, with great customer service and informative content, that real estate agents pay for the benefit of having their professional information listed on The OFFICIAL Real Estate Agent Directory®, so if a home buyer, a seller, or a renter becomes interested in their profile, they get contacted.