How to Become a Real Estate Agent
Tuesday 19 February
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by Andre McFayden, Ph.D.
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The process of becoming a real estate agent is fairly simple, although it does vary a lot from state to state. Here are the fundamentals of becoming a real estate agent.
a) License Requirements
Each state has different licensing laws, so you will need to look at your local requirements. However, in general you will have to:
Meet an age requirement
Pass a background check
Complete approved real estate courses from a state-approved school
Pass a state exam
Complete an application form
Submit various fees
Agents just getting their license work for a real estate broker. If you decide at some point to work for yourself, you will need to earn a broker license. Most new agents sign on with one of the large company brokerages. Most successful agents, even if not self-employed, treat the real estate profession as their own business, instead of just a job. This attitude will go a long way to ensuring your success.
b) What is a REALTORŪ?
Many people are confused about the difference between a real estate agent and a REALTORŪ.
A real estate agent becomes a REALTORŪ when he or she pays an annual fee to the National Association of REALTORSŪ and subscribes to its Code of Ethics. The agent joins through the local (city) board or association. Membership in the REALTORSŪ is optional, but help enhance your career.
c) How much can a real estate agent earn?
Real estate agents more often than not are paid on commission. This commission is a percent of the selling price of the property. The seller will generally pay 4-6% of the sales price as the fee for having an agent handle the complex job of selling their property. The funds will often be split equally between the seller's broker and broker who finds the buyer.
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