Becoming a real estate agent or a realtor is a great career choice – part-time or full-time.
If you love houses and properties you can consider getting
into the real estate as a real estate agent. As a real estate agent/ realtor,
you will assist your clients to buy, sell, or rent any type of property.
First, before you go on, you don’t have to go to a college/
university to become a Real Estate Agent/ realtor.
You can become a real estate agent or realtor at any point
in your life if you want to. But, you can’t just wake up one day and become one
as you have to get licensed first.
Although there is a difference between a real
estate agent and a realtor, they both do very similar
roles.
As a real estate agent, you are basically
allowed by the government through the license to assist the public to buy,
sell, or rent a property.
To be a realtor, you first acquire a license
from the government as a real estate agent and then join a realtor association
in your region. Therefore, the major difference between a real estate agent and
a realtor is the association.
When you are in a realtor association, you are under an
umbrella that covers other stakeholders in real estate. They include brokers,
salespeople, property managers, etc. around the country. Every individual under
the association is ruled and operates under a strict code of conduct/ ethics.
As mentioned, to operate as a real estate agent or a realtor
in whatever country you are in, you are required to be licensed.
Getting Licensed.
If you want to become a real estate agent, getting a license
is the first and most important step.
Just like any other industry that involves serious processes
that include contracts, legal matters, and money, you have to be licensed.
Being a licensed real estate agent gives
you accreditation and puts you at a better chance when looking and working for
clients.
On the other hand, being a licensed realtor increases
your credibility in the real estate industry. It also assures your clients of
your ability to conduct their processes – buying, selling, or renting-
ethically.
Know Your Country’s Requirements
Different countries have different requirements for getting
licensed as a real estate agent. Therefore, get to know what your country
requires.
You can do that by checking your country’s or town’s real
estate association or regulatory board’s website or visiting their respective
offices.
Obviously, there are general requirements such as age,
education, etc. But, there are specific requirements unique to each region
under the general requirements.
Once you know what your region/town requirements are for
becoming a real estate agent, you will know what to do and where to go next.
Do a Pre-licensing Course
Real estate is an industry whose operations are governed by
strict rules and laws and getting into it requires knowledge. Therefore, just
like any other profession, you acquire knowledge through a course.
You need to do a pre-licensing or pre-certifying course in a
real estate licensing school. Some certified real estate agencies actually
offer licensing courses and exams. The same way you go to driving school to
acquire a driving license.
This course, just like the requirements, differs from region
to region. In terms of cost, content, hours required for the course, and the
number of classes needed to complete the course.
You can do the course online or in a physical ‘class’,
whatever works for you.
This course will be the entry point to doing a real estate
agent licensing exam, thus called the pre-licensing course. It prepares
you for the licensing exam that will determine whether you will get the license
or not.
Do the Licensing Exam
After attending the licensing course classes, you will be
required to take a licensing exam. Your instructor or trainer will give you the
necessary guidelines you need in regards to the exam.
You will have to pay a fee for the exam and the amount
depends on your region’s requirements.
The licensing exam contains different sections on the
general real estate practices, principles, and laws that govern real estate
operations. Again, this differs from region to region.
The exam is set and regulated according to the guidelines
set by the regulatory board and the real estate association.
How you perform will determine whether you get the license
to practice as a real estate agent or not. However, in case you do not pass the
exam, there is always an option for a retake. But, there are regulations on how
many retakes you can have and the period between the retakes.
Join a Real Estate Brokerage
After passing your licensing exam, you don’t get your
license immediately, and finding a real estate broker is what’s next.
You cannot operate independently as a real estate agent and
that’s why you need to find a real estate broker. A real estate broker has more
experience in the real estate practice and is more qualified. Realtors can work
independently and have real estate agents work for them or under them.
To get licensed, you need to be under a broker or a
brokerage umbrella where you can be assigned a realtor. Your broker will help
you file some required paperwork for the real estate regulatory commission/
association. Once your paperwork has been verified, you will receive your
license to then operate as a real estate agent.
Make sure you find the right broker or brokerage as this
will really influence how your real estate journey takes off. Get referrals,
see what they have done in the past, and what their reputation is in the area.
Know the number of real estate agents they are working with, how they promote
their property and their agents. Find out the type of real estate they deal
with and if they are well established.
When operating under a real estate broker, you oversee the
negotiations and transactions for your clients on behalf of your broker. You
don’t necessarily receive a monthly salary but you receive a commission for
every sale you make. In short, you represent your broker or brokerage and get
paid for the sales you make on their behalf.
Therefore, as a real estate agent, you practice real estate
under the backing of a broker or a brokerage.
Conclusion.
Being a real estate agent is your stepping stone into the
wide industry of real estate.
You can do it part-time or full-time at the beginning. If
you choose part-time, consider doing it full-time as time goes on as you get
more experience. Doing it full-time means more hours, more deals, and more
money.
However, that does not mean you cannot get a lot as a
part-time real estate agent. When you plan yourself, manage your time wisely
and make arrangements with your clients, you will do pretty well.
If you want to be more successful in real estate, consider
advancing yourself as time goes by. Consider getting a broker license as this
will give you more business opportunities and increase your flexibility in the
industry.
Consider getting real estate certifications and designations
in different/ specific real estate properties. The designations can be in
residential property, commercial property, mortgage, and property management,
etc. Getting designations increases your earning potential and puts you on a
higher ladder in real estate.
Your career journey in real estate will start as a real estate agent and there are more opportunities ahead. Put in your time and effort into it and see yourself succeed in an exciting and rewarding career in real estate.