Interested in becoming a real estate agent? In this article, I will be showing you step by step how to get your real estate license and become a realtor. This is a simple process that is a lot easier and cheaper than many people may think.
What is a real estate agent and what can they do?
Real estate agents are licensed professionals who arrange real estate transactions, put buyers and sellers together and act as their representatives in negotiations.
Here are some reasons why getting a real estate license is a smart decision for most people:
- This can be a flexible job where you can set your own hours
- You are constantly doing different things, so if you like variety in your life this is perfect
- It is very simple to get your license
- If you have friends and family who are looking to purchase property, you can help them out and receive an easy commission. This is exactly what I did when starting out!
- If you want to buy real estate yourself, it definitely helps. You can keep the commission for yourself, and if your goal is to become a real estate investor in the future, this is perfect and will save you tons of money.
Not only will you save money, but you can also get a ton of knowledge from getting your real estate license. Going through the course gives you helpful knowledge about real estate in general, and how you can use it to build wealth.
In terms of benefits for becoming a full time or part time real estate agent, there are too many to count. You can write off business expenses such as your car, food, equipment, and more. As a real estate professional, you are also entitled to many tax benefits, such as being able to write off depreciation to offset your other income.
You can also make significant income, as commissions are uncapped. Many people have built their fortunes selling real estate. Just watch “Selling Sunset” on Netflix and you'll see!
Of course, there are some drawbacks just like with any other profession. Since anyone can become an agent, there is a lot of competition. But there are also lots of homes being bought and sold. Many people fail after a year or two, so that's why I recommend most people use their real estate license as a side hustle at first.
This is exactly what I did – I had other sources of income so that if I didn't do any transactions my first year, it would be okay. I wouldn't have to “quit” to survive.
Also, you will need to work weekends and it can be stressful. Dealing with things out of your control is taxing and with huge amounts of money on the line, it can be hard. I mean, it is your clients biggest purchase of their life afterall.
You may need to be in the industry for years to get traction and be able to quit your job, but that is totally okay. Once you have consistent clients and consistent income, the real estate license is one of the best licenses to maintain and keep.
How To Get Your License
Let's go over how to actually get your license. Depending on which state you live in, the requirements will vary. For example, in California you need 135 hours of classes – 3 classes each being 45 hours long. You can take these classes online or in person, and depending on your schedule and learning habits, one or the other could be better.
For most people, I recommend doing it online. It's much more convenient, you can spend less than 135 hours if you're efficient, and no commute to and from a classroom.
I highly recommend using Real Estate Express to get your license. I used them for both my salespersons and brokers classes, and I passed both state exams on my first try with flying colors. They prepare you very well and are also the most affordable classes I have found.
Use this link to get Real Estate Express:
How it works is like this: You will be enrolled in three courses that you take one after the other. Real Estate Express will have many slides per course, and you go through them at your own pace. After each section, there is a short and easy quiz to test your knowledge. And after each chapter, you will take a longer test.
At the end of each 45-hour course, is a final exam. You have access to your notes for these exams, and I have found them to be quite easy. Once you pass this final exam, you will get a certificate of completion.
Once all three courses have been completed (depending on your state) you will fill out and mail in an application for the exam and license. You will also be required to do a live scan and give information about yourself. I've found it takes about 1 month for them to process this application, so you will have 1 month to study before you can schedule your actual state exam.
After You Receive Your License
After passing your state exam and receiving your license, you will need to hang your license with a real estate brokerage. This is a rule, as you cannot work by yourself until you become a broker. You will join a realtor's association and be able to start working with clients!
Make sure to choose a brokerage that allows you to get training and gives you the flexibility you need in your schedule. My own brokerage, Core Capital Realty, is a 100% commission brokerage located in California. If you are looking for a brokerage than can get you started and pay out 100% commission, definitely reach out! I am also looking for more awesome agents to join the team.
Good luck on your journey to getting your real estate license! This is one of those licenses I always tell people is great to get. Especially if you think real estate investing is something you want to do in the future, it is a no brainer. Use the link above to sign up for Real Estate Express, and within a few months, you should have your license active. Have an awesome day!