As mentioned earlier, being able to represent yourself as an agent is one of the most important things you can do for your real estate career. Unfortunately, not every state allows individuals to work without having at least a limited license.
Luckily, the State of Texas does! And it’s pretty easy to get if you’re already working in the industry or have experience under your belt.
Most people start looking into getting their Realtor license after receiving their business degree or professional certification (for example, medical doctor). While smart, this isn’t always practical when you’re thinking about starting a family.
Fortunately, there are some ways to gain real estate licensing quickly without too much investment. Two of these strategies include becoming a licensed broker or seller and sponsored licensing.
Broker licenses require more time and effort than seller’s licenses but don’t require any formal education beyond what’s listed on your license. This makes them easier to come by but only if you can put in the extra time to learn how to be a successful agent.
Seller’s licenses can be acquired faster than buying a broker’s license but only if someone with a sellers’ license wants to help you succeed. This could be a friend, family member, or even another aspiring realtor that you meet while doing business together.
Pay your licensing fees
After you have gathered enough money, it is time to pay your real estate license! The amount depends on which state you are applying for your license in as well as if you are taking the examination or certification route. Some states require only a fee while others ask you to take an exam before being able to register.
Most states will charge either a one-time application fee or annual renewal fees.
Complete a state-mandated education program
The next step is completing an education program that is sponsored by your State Board of Realtors, or the NAR as they are known. These courses vary from county to county, but most require you to attend at least four courses for a certain number of hours.
Most states have online courses that can be completed remotely, which is a great way to fit learning into busy lives. And while some may feel like lectures, there are usually assignments and questions students must answer during each course.
Some courses also include live student presentations where instructors share their knowledge with others. This helps boost engagement and help you get more out of the lesson.
By attending these lessons, you will learn about real estate laws, finance, marketing, and even how to manage your own business.
Provide proof of your education
After you have completed all required courses, you must prove that you know what you were taught. This is typically done through taking an exam like the one mentioned above or via posting online lessons and tests. Most state licensing boards will also require you to upload your license as evidence that you are licensed and able to practice real estate.
If you already have your license, make sure it is current! Getting slapped with extra fees can be expensive
The cost for testing varies from board to board but most are around $150-250. Some may even offer discounts if you take the test before the year is up so check out some test dates here.
General studies classes are sometimes called “for profit” schools because they help you learn how to do business. These are usually paid for through tuition payments or through taking part in social events where the school uses their resources (homes, cars, etc) to fund things.
Pass a state-administered exam
The next step is to take an examination for licensure. There are two main types of examinations that can be taken, both of which are designed to test your knowledge of real estate law.
The first is called the Basic Examination. This is a 100 question, multiple choice test that takes anywhere from 90 minutes to 2 hours to complete.
The second type of examination is the Comprehensive Examination. Like the basic one, this also contains 100 questions but these are longer and more difficult than those asked during the comprehensive exam.
Pay a fine
After you have completed your education, it is time to take action! The next step of getting your real estate license in Texas is actually paying the fee to be licensed. Most states require that before someone can call themselves an agent, they must pay a licensing fee. This fee is usually paid through online vendors such as Realtor.com or State Licensing Systems, but some agencies directly accept payment via credit card.
Some state governments also offer discounts for having multiple licenses so make sure to check out all fees and discounts ahead of time!
The amount of money you will need to spend depends on two things: how many agents you want to become and what level license you desire. There are three levels of license: sales associate (also called broker), principal specialist (also called senior sales associate), and professional (also called master). As with anything related to investing, the more expensive the item, the better it is; thus, buying a basic license may not be the best option if you aspire to do very well at this career.
There are several ways to save money by becoming an agent, but the easiest way is to see who offers discount codes and/orseningsalesassociatelicense.org. Some companies will give you a percentage off or even free entry into their courses if you purchase something else from them.
Be familiar with the Texas Real Estate Code
As mentioned earlier, being licensed is a great way to begin your real estate career. But before you can be officially licensed, you must first obtain a license!
The process of getting your real estate salesperson or broker license varies slightly depending on whether you are taking the examination for certification as a professional real estate agent (PRIA) or for licensure as a general residential real estate agent.
But no matter which type of license you want, all applicants are required to show you’re well-versed in the Texas Real Estate Code. This code regulates almost every part of the real estate business, including how agents conduct themselves, what services they may offer, and even who they may sell property to.
Create a business plan
Now that you have determined that real estate is your career, it’s time to create your own business! Before you start looking at houses or teaching yourself about how to be a successful Realtor, you will need to know what kind of broker you want to be. You can only work as a broker if you are licensed!
While some people begin working as a realtor by buying a few homes, most use their skills to help someone buy or sell a home. To do this, they must have a license!
There are two main types of licenses for brokers in Texas. An Associate Broker License and a Professional Brokers License. The associate degree does not allow you to represent yourself as a professional seller or buyer of residential property, and cannot give you access to higher price properties. It also does not grant you any direct reports such as assistant brokers or sales associates. This license is perfect for those who want to become involved in the real estate industry but don’t want to deal with the paperwork and legal requirements right away.
The professional brokers license requires more education than an associate degree, but no test! You must pass both the Salesperson Agent Exam and the Commission Officer Examination. These tests are both 100 questions each worth one hundred points. After passing these exams, you must pay fees and spend time studying for the state exam which has a maximum score of 200.
Fund your business
Now that you have determined that real estate is what you want to do, you will need to determine if this is actually something you can afford to pursue as a career. With real estate investing comes great rewards, but it takes significant investment to get started.
You will probably need to invest some money in education, equipment, and startup costs for your business. The best way to ensure that you are able to run a successful business is by first establishing strong fundamentals with respect to real estate.
There are many ways to establish these fundamentals, so do not hesitate to explore all of them! There are several educational institutions around the country that offer courses about how to become an investor. Many of these schools are very affordable as well.
Once you have completed your studies, you must equip yourself with the right tools. These should be basic, easy to use, and of good quality. A manual or beginner’s guide to any piece of equipment would go a long way towards making sure that you know what they are used for.
Last, but certainly not least, you will need to find a place to house your business. This can either be renting or buying property. Having a space where you can focus completely on your work and having enough room to grow your business effectively are both important factors.
