Getting real estate license in Texas is not easy, nor does it happen overnight. You must be at least 21 years old, have at least a bachelor’s degree (either from an accredited institution or equivalent experience), and pass both the written and practical exams given by the State of Texas.
The educational requirements for getting your real estate agent license are very specific as well. In fact, there is only one school that offers such training — The University of Texas Online!
This article will go into more detail about how to get your real estate license in Texas starting with some important things like what kind of licensing you need, why you should become licensed, and where to find professional guidance.
Once everything is set, we will talk about the different types of licenses available, when to expect them, and what each one means. This article will also discuss some common pitfalls people make while seeking licensure, and tips to avoid these if possible.
Pay a fee
The next step is to determine if you are eligible to take the real estate exam by checking with your state board of real estate agents or brokers as well as your department at your university. Some colleges offer certification courses through their school system, so there’s never an excuse for not being prepared!
Most states have a board that reviews and approves individuals who want to be licensed as an agent or broker. This process varies from state to state but it usually includes some kind of background check, proof of education (for agents) and practical experience (for both).
Some agencies require people to prove they can run a business, while others focus more on whether or not someone has violated the law in relation to real estate. There may also be fees associated with testing.
But don’t worry about paying too much license money– most states will grant you free practice licenses during a period of time after which you must pay to sit for the test.
Provide proof of identity and address
In addition to being licensed, you will also need to provide proof that you have lived at your current residence for at least six months. This is referred to as residency. Most states require you to be officially living there for this length of time before they grant you license!
It’s very important to make sure that everything about your personal life/finances can be verified prior to taking the next step. You do not want to be granted licensing after finding out later that you are lying about something significant to yourself or to us.
We recommend gathering as much evidence as possible so that we can verify them. A picture ID with address, pay stubs, bank statements, etc., should all be adequate proofs.
Provide proof of income
To prove your ability to pay for the education costs, most states require you to show that you have enough money to finance your schooling. This is typically done through an affidavit or testimony with documentation showing how much money you make and what school expenses you can cover.
Most state governments also allow students to apply at least six months before they are officially admitted into real estate courses.
Write and pass a series of exams
After being licensed as an agent, you must take more tests to be officially recognized by the state as a professional. These are called examinations for licensure. There are two main types of licensing examinations that real estate agents have to go through in Texas.
The first is the Written Examination, which consists of five questions made up of three paragraphs and one bullet point. Each question is worth four points total. The time allotted per question is eight minutes.
The second type of examination is the Oral Exam, where there are six topics and six minutes per topic. You will need at least a 70 percent score to pass this exam! If you fail, you can retake it within twelve months.
Experts agree that taking both types of test is the best way to ensure getting your license. Some states offer only the written exam or oral exam, so make sure you know what kind of testing format their board uses before registering.
Even though it seems like there is never enough time, you will still need to make sure that you are always prepared when taking real estate courses. This can mean having an easy way to organize your notes, books, and materials.
It’s also important to be able to access all of your studying tools such as laptops, phones, and tablets so nothing gets lost or corrupted.
Create a business plan
A business license is required to perform many functions outside of selling or buying property, including conducting real estate transactions (selling or purchasing properties), serving as an agent for a seller or buyer, acting as a broker, or receiving compensation for your services as a consultant or trainer.
In most cases, you will be asked to show proof that you have met these requirements before being granted licensing. This can include documents such as certified letters, bank statements, receipts, etc. showing payment or proof of meeting the requirement.
Find a mentor
As mentioned earlier, being able to teach someone else your craft is one of the most important things you can do for yourself as an entrepreneur or professional. And while having a licensed real estate agent next to you at all times may not be practical, there are ways to get some help from experienced professionals.
One way to achieve this is by finding a mentor who isn’t necessarily looking to hire anyone but wants to train others. By creating a mentorship relationship with such a person, you will benefit greatly!
There are many types of mentorships available including educational ones, career guidance ones, and even spiritual ones.
Start a business
Starting your own real estate business comes with its own set of rules and regulations, so make sure you are prepared by doing some research and developing your business plan.
You can choose from several different types of businesses that focus on different areas of real estate. For example, buying or selling houses is being done right now for income through companies like Zillow.
Another option is becoming an agent where you represent one seller or buyer at a time while helping them find their ideal house or property.
Yet another way to get into real estate is owning your own home or apartment as an investor. By investing in properties, you earn money via rents or sale prices, depending on what area and type of homes you invest in.
There are also individuals who work as agents but do not pay much commission, such as level two agents. These professionals have additional fees for things like running credit checks or representing part of the team when needed.
Whatever route you decide to take, make sure you know what laws apply to you! Getting a license isn’t something anyone does easily, so be certain you are informed of all the requirements before getting started.