There are 1.5 million licensed real estate agents across the United States. There are only about 500,000 homes for sale.
If you’re thinking about joining them, you’ll need to get a real estate license and build up your real estate career. It can take time to do, so you need a plan and a timeline.
You have to know how long it takes to get a real estate license. What do you do once you get licensed? The answer is a little complicated.
Don’t worry because this article has you completely covered. Read on to learn how to get your real estate license, how long it takes, and how you can build your real estate business.
Real Estate License Requirements
The time it takes to get a real estate license depends on the licensing requirements in your state.
To get a California real estate license, you need to be 18 years old, take three approved real estate courses, and pass a background check and licensing exam. Each course is about 45 hours long.
Once you pass the exam, you get sponsored by a real estate broker and apply for your official license. You should expect to take between five and six months to complete everything.
For a Georgia real estate license, you also have to take a course, pass an exam, and get a background check. The pre-licensing courses are about 75 hours long.
You might be able to get your real estate license in a few months in Georgia because you don’t have as many pre-licensing class hours to take.
The other variables are your schedule and commitment to the coursework. Many would-be agents start a course and take many months to finish it because things come up.
Decide Where to Hang Your Real Estate License
Real estate laws across the country require that you hang your real estate license with an established real estate brokerage. You work under the broker’s license to provide real estate services to your clients.
The reason why it’s called hanging your license is that some state laws say that the agents’ licenses are actually hung on the walls of the real estate broker’s office.
There are states that don’t need licenses to get hung on the wall. They have to be recorded on the broker’s list of licensees.
Believe it or not, the place where you hang your license is a huge decision. It affects how you begin your real estate career.
Brokers charge a monthly fee to hang your real estate license. The monthly fee covers office overhead costs. They can range between $50 and $300 a month.
Real estate brokers take a percentage of your commissions. This is your income, and from a commission-only job, it affects everything.
Let’s say you sell a $400,000 home for your client with 6% commissions. The 6% gets split between yourself and the buyer’s agent, leaving you with $12,000.
That seems like great money until you realize you’re giving a percentage to your broker. The split could be 50-50, so you’d make $6,000 before expenses and taxes.
Deciding where to hang your license isn’t all about the money. Consider the amount of training and support you’ll get as a new agent. Think about the reputation of the company and the culture of the brokerage.
Build Your Real Estate Business
Most real estate agents start off with their networks. They contact the people they know and trust and ask for referrals.
This isn’t a bad way to start, but you have other ways to bring in new clients. You need to build your personal brand. Consider three to five reasons why you’re different from every other real estate agent out there.
It helps to focus your career in one area of real estate and become known as the expert. You can specialize in vacation homes, condos, or young families.
Build your online presence through blogs and social media. As you build your expertise and authority, you’ll draw the right buyers and sellers to your business.
Continuing Education Requirements
You’re not done when you complete your initial real estate licensing requirements. You have to maintain your license and keep it in good standing.
That means you have to adhere to the Code of Ethics. Don’t commit fraud, do right by your clients, and don’t commit a felony.
State laws mandate that you need to take continuing education courses to maintain your license. It needs to be renewed every two years.
Check the laws in your state to learn the specific requirements.
Real Estate Reciprocity
Do you live close to another state and want to expand your business there? You might not have to go through all of the tough real estate licensing requirements in that state.
State licensing boards have reciprocity agreements with other states. You can apply for a license in another state if you already hold a real estate license in a state with an agreement.
A person with a Georgia real estate license can get a license in Pennsylvania because those states have a reciprocity agreement. The time to get the Pennsylvania real estate license is about 4-6 weeks.
You do need to take the same steps to maintain your license in both states, including continuing education classes.
Get Your Real Estate License and Start Your New Career
How long does it take to get a real estate license? It depends on the laws of your state and your time commitment. It takes anywhere from three to six months.
You have decisions to make when you get your license. Make sure you research different brokers in your area and choose the right place to hang your license.
Do you need more marketing tips to build your real estate career? Check out the other digital marketing articles on this site today!
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There are 1.5 million licensed real estate agents across the United States. There are only about 500,000 homes for sale.
If you’re thinking about joining them, you’ll need to get a real estate license and build up your real estate career. It can take time to do, so you need a plan and a timeline.
You have to know how long it takes to get a real estate license. What do you do once you get licensed? The answer is a little complicated.
Don’t worry because this article has you completely covered. Read on to learn how to get your real estate license, how long it takes, and how you can build your real estate business.
Real Estate License Requirements
The time it takes to get a real estate license depends on the licensing requirements in your state.
To get a California real estate license, you need to be 18 years old, take three approved real estate courses, and pass a background check and licensing exam. Each course is about 45 hours long.
Once you pass the exam, you get sponsored by a real estate broker and apply for your official license. You should expect to take between five and six months to complete everything.
For a Georgia real estate license, you also have to take a course, pass an exam, and get a background check. The pre-licensing courses are about 75 hours long.
You might be able to get your real estate license in a few months in Georgia because you don’t have as many pre-licensing class hours to take.
The other variables are your schedule and commitment to the coursework. Many would-be agents start a course and take many months to finish it because things come up.
Decide Where to Hang Your Real Estate License
Real estate laws across the country require that you hang your real estate license with an established real estate brokerage. You work under the broker’s license to provide real estate services to your clients.
The reason why it’s called hanging your license is that some state laws say that the agents’ licenses are actually hung on the walls of the real estate broker’s office.
There are states that don’t need licenses to get hung on the wall. They have to be recorded on the broker’s list of licensees.
Believe it or not, the place where you hang your license is a huge decision. It affects how you begin your real estate career.
Brokers charge a monthly fee to hang your real estate license. The monthly fee covers office overhead costs. They can range between $50 and $300 a month.
Real estate brokers take a percentage of your commissions. This is your income, and from a commission-only job, it affects everything.
Let’s say you sell a $400,000 home for your client with 6% commissions. The 6% gets split between yourself and the buyer’s agent, leaving you with $12,000.
That seems like great money until you realize you’re giving a percentage to your broker. The split could be 50-50, so you’d make $6,000 before expenses and taxes.
Deciding where to hang your license isn’t all about the money. Consider the amount of training and support you’ll get as a new agent. Think about the reputation of the company and the culture of the brokerage.
Build Your Real Estate Business
Most real estate agents start off with their networks. They contact the people they know and trust and ask for referrals.
This isn’t a bad way to start, but you have other ways to bring in new clients. You need to build your personal brand. Consider three to five reasons why you’re different from every other real estate agent out there.
It helps to focus your career in one area of real estate and become known as the expert. You can specialize in vacation homes, condos, or young families.
Build your online presence through blogs and social media. As you build your expertise and authority, you’ll draw the right buyers and sellers to your business.
Continuing Education Requirements
You’re not done when you complete your initial real estate licensing requirements. You have to maintain your license and keep it in good standing.
That means you have to adhere to the Code of Ethics. Don’t commit fraud, do right by your clients, and don’t commit a felony.
State laws mandate that you need to take continuing education courses to maintain your license. It needs to be renewed every two years.
Check the laws in your state to learn the specific requirements.
Real Estate Reciprocity
Do you live close to another state and want to expand your business there? You might not have to go through all of the tough real estate licensing requirements in that state.
State licensing boards have reciprocity agreements with other states. You can apply for a license in another state if you already hold a real estate license in a state with an agreement.
A person with a Georgia real estate license can get a license in Pennsylvania because those states have a reciprocity agreement. The time to get the Pennsylvania real estate license is about 4-6 weeks.
You do need to take the same steps to maintain your license in both states, including continuing education classes.
Get Your Real Estate License and Start Your New Career
How long does it take to get a real estate license? It depends on the laws of your state and your time commitment. It takes anywhere from three to six months.
You have decisions to make when you get your license. Make sure you research different brokers in your area and choose the right place to hang your license.
Do you need more marketing tips to build your real estate career? Check out the other digital marketing articles on this site today!