There are a variety of different career paths anyone in real estate can consider pursuing, but among the most popular is that of the path of a real estate agent. Currently, there are over 1.6 million active real estate license holders in the United States, going to show the prominence of this career path.
Learning everything there is to know about the career path of a real estate agent can help a person determine if this is the path for them.
What Does a Real Estate Agent Do?
To those unfamiliar with the field, a real estate agent is a professional who facilitates the purchase process of real estate between a buyer and a seller.
The real estate agent represents one of these two parties and assists the two parties with the negotiation process and the entire sales process. Real estate agents are most often paid on a commission basis, meaning their livelihood is quite literally in their own hands.
How Long Does it Take to Become a Real Estate Agent?
Becoming a real estate agent can vary drastically from a timeline perspective depending on the state a person lives in, but the average length of time is anywhere from 3-6 months.
This timeline can move in either direction depending on a person’s specific situation, such as whether or not they are pursuing the career path full-time or part-time while juggling duties associated with a day job.
The Process of Becoming a Real Estate Agent
Learning how to become a real estate agent is relatively simple, but that doesn’t mean the process will be easy.
First and foremost, a person must wait until they are at least 18 years old before they begin the application process. This doesn’t mean they can’t start the educational requirements already. Those requirements are as follows:
Enroll in three courses: Real Estate Practice, Real Estate Principles, and one course from the following:
- Real Estate Finance
- Real Estate Appraisal
- Real Estate Economics
- Real Estate Office Administration
- Property Management
- Legal Aspects of Real Estate
- General Accounting
- Business Law
- Computer Applications in Real Estate
- Common Interest Developments
After passing each of the above courses and their associated final exams, a person can sign up for the actual salesperson exam that all agents are required to take in order to receive their license. This exam is a three-hour and 150 multiple choice question exam that requires a 70% in order to pass.
How Much Does a Real Estate Agent Make?
On average, a real estate agent earns just shy of $7,000 per month in the United States, though this figure is also based on the average state.
In states with more expensive real estate, such as California or New York, the average monthly salary may increase drastically, considering agents are paid on a commission basis. However, being in these states is a double-edged sword due to the cut-throat nature of real estate in these popular states.
Tips for Building Your Book as a Real Estate Agent
Once you have acquired a real estate license, the journey is far from over. In fact, it is just beginning.
The hardest part of being a real estate agent is not the lead-up to getting a license. Rather it is the actual process of building your book. This process requires networking intensely with those in your field, but so much more as well.
Utilize the following tips to set yourself up for the best chance of success during your journey:
- Start by networking with your own inner circle to see if anyone requires your assistance
- Reach out to your local community who already know your name
- Find a mentor in the industry who can assist you and potentially help you get started
- Educate yourself on anything and everything to do with real estate
Grow your real estate business today
Growing a real estate business will not be an easy task and will likely require a large amount of dedication and willpower to succeed. However, with the right mindset, anybody can build their book and grow their network.
Once this ball begins to roll, there will be no stopping it for the most tenacious real estate agents in the country. To join this group, seek out an accredited mentor who can show you the ropes regarding everything to do with real estate.