As mentioned earlier, being able to sell real estate is your goal. But before you can get that license, you first have to be licensed. And while it may seem like a hassle, taking some time now to obtain your license is totally worth it in the long run!
Getting your license requires going through several steps which include testing, training, and licensing. There are many ways to go about this, so what’s best for you depends on how much help you want or need. Some people find online courses with interactive lessons helpful, while others prefer classroom settings.
There are even times when an individual will put together their own learning materials and test guides to make sure they know everything needed to pass. Either way, you should definitely look into getting all of the necessary pieces so that you are guaranteed success once and for all.
Another important part is knowing who to talk to and what services you should use. Having someone by your side to aid you in your studies is very valuable. People often share their experiences and things they learned from along the way, making it easy to pick up new tips.
Pay a fee
In order to get your real estate license, you will need to pay a licensing fee and go through some additional training. The cost of these varies from state to state and depends on how much education they require for professionals in the field.
In most states, there is an initial certification which does not require any formal schooling or courses but instead requires that you take and pass a exam. These are known as “Pre-License” tests and can be taken anywhere, even online.
After passing this test, people usually have to wait several months before being able to take the more advanced education (or “Regular” license) exams. These typically costs around $500 – $1,000 per exam depending on the length of the course and whether it is lecture style or seminar style.
The hardest part about getting a regular license is deciding where to study! There are many great resources available to students via websites, social media groups, etc. This can easily consume hours every day. People also organize informal studying sessions at local Realtors’ offices, community centers and churches, just make sure to check with everyone first.
Provide documentation
Before you can apply for real estate license in Kentucky, you will need to prove that you have lived in the state for at least six months and you must show proof of your income. You also cannot be convicted of any felony or misdemeanor related to fraud or false documents!
Once these things are verified, then you may proceed with applying for the broker’s license. The process is pretty simple, but it does require some time to complete all of the paperwork correctly.
The State of Kentucky regulates both sales agents and brokers. A broker represents either sellers or buyers and gets paid a commission when a sale occurs. As such, they are more professional than an agent who works only for individual sellers without compensation.
Becoming a licensed Realtor takes around two years due to all of the formalities involved. During this period, you will not be able to work as an agent unless you get proper licensing first.
Stay up to date with training
As mentioned earlier, being licensed is not enough to do business as a real estate agent. You will need to stay informed of all licensing requirements in your state, as well as any changes that are made to what classes you can take for license renewal.
Most states have at least one agency that offers professional education courses to help you get close to achieving certification as an agent. By attending these classes, you will be staying current on important information such as how to properly handle financials, marketing materials, etc.
At The Realty Alliance, we offer both classroom training and online education so you don’t need to go anywhere! Our high quality programs have been reviewed by professionals so you know they are worthy of your time. Visit reallianceeducation.com today to find out more.
Make a plan
Before you even think about getting your real estate license, you have to make sure you are ready. This means making a plan and being prepared for all of the steps required to become an agent.
You will need to prove that you can sell houses so make sure you are well-qualified as a listing agent or a selling agents before applying as an agent. You also must be able to read, write, and speak clearly and effectively which is why most people start practicing their writing skills early on.
When you’ve got those basics down, then you can move onto more complex things like business planning and marketing strategies. All of these things should go together to create one beautiful picture – yours!
Real estate is a tough industry with lots of competition. If you want to survive as an agent, you will need to know how to get ahead by doing good work and offering ways to help your clients. Your clients will keep coming back if they feel like they received excellent service from you.
Practice test taking
After you pass your state exam, you must then take a practice test. This can be done at least once per year, if not more frequently!
Practice tests are good because they give you an idea of how well you’ve prepared for the real thing. They also help mitigate nerves, as you will have going into it “under fire” so to speak.
Most states allow students to take their official test up to one month after registration. During this time, there is no requirement to take the test, but most people do. You should try and take the test within that period to ensure full credit.
Some states require you to take a minimum number of questions from each section to receive credit, while others don’t. Find out what format their test takes before practicing.
Get a lender approval
Before you even apply for a real estate license, you need to check if you are eligible first! This includes proving you have enough money to run your business and satisfy licensing requirements at the state level as well as being qualified to be a licensed broker or agent.
Most states require that you go through what is called a “lender review” before granting you your license. A lender review looks at whether you can afford to pay rent and buy a house after receiving your commission and paying off any loans or mortgages in relation to this. They also look at how much cash you have in the bank so they know you don’t depend on earning a salary to survive!
While some states require just one approved loan, most ask about a number of different ones which makes it hard to get the licenses unless you already meet their requirement.
Register your business
The next step is registering your business with the state as well as getting your real estate license! This can be done through the offical Tennessee Department of Commerce website or by contacting the local department directly.
Most states offer you online tools to register your business, so it’s best to go through that site first to see what forms are needed and how they are organized. Some require you to fill out more formal documents like an LLC agreement or Business Registration Form before moving onto the actual license.
Other items linked to your business may already exist in our database, so check there too! Most state websites have their own separate pages where you can find out if you are eligible for certain licenses or not. this can save you time searching otherwise.
Choose a location
The next step is deciding where you want to study real estate, and determining if that place offers enough courses for you to pursue your license. You can choose to go through an accredited university or college, community college, private school, or even online schooling sites.
Most states require people who want to be real estate agents to take a state specific certification exam before being granted licensure. These tests are usually given by organizations of certified professionals, so finding out which organization’s test is required for admission will depend on what state you live in.
