The real Estate Sector offers a plethora of career-filled opportunities to ambitious individuals. Among all, becoming a real estate agent is financially rewarding and fulfilling. You are your own boss, and from visiting multiple locations to helping clients own houses, you don't have to do the same thing every day.
Who won’t like working as a Real Estate Agent?
If you also want to become a Real estate agent and want a gratifying career in the real estate industry, fulfill the specific requirements and pass the real estate license exam.
Here's a general rundown on how one can become a Real Estate Agent.
Every state or city has its own rules and regulations that take 3 to 6 months for the overall process. An individual must hold a license from a real estate licensing regulatory authority. The process begins with passing a pre-licensing real estate sales examination. Once the test is passed, you can become an authorized real estate agent to start your career in the real estate sector.
But how much do you earn as a real estate agent?
With overall economic prosperity, the real estate agents' average salary differs by state. As per statistics, the average salary of a real estate agent in the U.S. is $44,507 as of October 27, 2022, and falls between $43,479 and $56,612.
Let's dive deep into the post and learn how you can become a real estate agent in the USA. We've covered some bases to make your overall journey a success!
What Does a Real Estate Agent do?
Pursuing a real estate agent career sounds perfect because you are your own boss and work at a flexible duration. But the real truth about being a real estate agent is not limited to just getting wealth and flexibility. You have to pass the test to get the License in which there are many challenges on the way.
But Empire Of Real Estate empowers, inspires, and connects aspiring agents to approved schools and provides info and guidance to get the License. Once the License is acquired, the job is all about working 24*7, hitting the sales goals, researching the properties, negotiating contingencies with the sellers, and making yourself available to the clients in every step of buying or selling the property process.
Let's explore more and learn what a Real Estate Agent does!
Explains the Property Details to Clients: A real estate agent has to collect the relevant information about the properties, including comparable prices, surroundings information of the neighborhood, schools, hospitals, and more.
Guides Clients in the Overall Process: Real estate agents ease the overall process of buying or selling properties. They are familiar with standard practices and real estate laws and do every part on behalf of the clients.
Answers Client's Queries: Clients are unfamiliar with specific real estate terms. Real estate agents have enough knowledge to explain the answers to the client's queries confidently.
Handles Paperwork: There is a lot of paperwork regarding transactions when buying or selling properties. A real estate agent re-checks everything on your behalf and submits the papers to the authorities.
How to Become a Real Estate Agent?
Becoming a Real Estate Agent in the U.S. involves taking a Real Estate Commission Licensing Exam. There are several prerequisites to be taken into consideration that includes.
- Be 18 years or above
- Be a US Citizen
- Have At least High School Diploma ( In most states)
Apart from this, we'll get you through several steps to becoming a real estate agent.
Research City's Unique Licensing Requirements
A national license doesn't exist in the USA to pursue your career in the real estate sector. Every state has different requirements for age, education, pre-licensing courses, exam eligibility, background checks, reporting criminal history, and more.
Consider an example, there are some states like New York that have a reciprocal licensing agreement and have reciprocity with Arkansas, Michigan, Oklahoma, Mississippi, Georgia, and more. It means that you can use the License of New York city in these states without passing the additional examination.
Take a Pre-licensing Course
In the USA, an individual must take a pre-licensing course from an accredited school before appearing in the Real Estate exam. Moreover, many schools offer online classes; individuals can also take in-person coursework.
Be Ready to Take the Test
The Real Estate licensing exam is carried in two sections:
- A national Section covering General Real Estate Principles and Practices
- A state-specific section covering State’s Real Estate Laws
Passing grades on both sections in the real estate licensing exam is necessary. If anyone fails in any one section, one can retake the exam.
Wait to Get License Activated
Once you have passed the exam, submit the documents and the application to the concerned authority. When the application is approved, the state authorities mail the license certificate. Once you are issued a license, you can start your career as a real estate agent.
Become A Real Estate Agent in Michigan
How to become a licensed realtor in Michigan? Go through the following series of steps.
- Complete the 40 hours approved pre-licensing course.
- Pass the Real Estate Exam with a minimum 70% score.
- Find the right Sponsoring Broker in Michigan you can be associated with.
- Apply for your Real Estate License with the Michigan Department of Licensing and Regulatory Affairs (LARA).
- Pass the 180 Minutes Test Covering both State and National Requirements.
- Your License is ready to get issued.
Become A Real Estate Agent in Arkansas
Once you get the license for Arkansas city, you can work in Colorado, Florida, South Dakota, Washington, Mississippi, Nebraska, Oklahoma, Pennsylvania, Alabama, Georgia, Iowa, Kansas, Louisiana, New York, West Virginia, and Ohio.
But How To Become A Real Estate Agent In Arkansas? Follow the instructions and get your license to start your career as a real estate agent.
- Register yourself for the 60 hours Pre-licensing Course.
- Meet the Minimum Requirements and take the Exam with a minimum of 70% score.
- Send the Necessary Documents to the Arkansas Real Estate Commission for State and Federal Criminal Background Checks.
- Apply to get your License in Arkansas.
Become A Real Estate Agent in Florida
Becoming a Florida real estate agent requires the individuals to:
- Complete 63 hours of a Pre-licensing Course.
- Pass the Real Estate Exam.
- Submit the necessary details and documents to the Department of Business and Professional Regulation.
- Go for a background check for safety purposes.
- Fill out and Pass the Real Estate License Exam.
- Get a licensed Florida Real Estate Broker Willing to Sign the License.
The Average Salary For a Real Estate Agent
The U.S. real estate agent's salary depends upon the location and area agents work. Moreover, certain important factors such as education, skills, certifications, and overall experience widely calculate the annual salary of real estate agents. The average salary of a real estate agent lies somewhere between $43,479 and $56,612.
Average Michigan Real Estate Agent Income
How much do real estate agents make in Michigan? Real estate agents in Michigan work on commission bases. According to the reports, the average income typically falls between $43,514 and $56,657 and rises with the number of working years of experience an agent holds.
Average Arkansas Real Estate Agent Income
How much do real estate agents make in Arkansas? According to the statistics, an agent's work area falls between $40,099 and $52,211. The average salary of a real estate agent is $41,047.
Average Florida Real Estate Agent Income
As per the U.S. Bureau of Labor Statistics, the average income of real estate agents is $42,282 and ranges between $41,305 and $53,781, depending upon the experience of the real estate agents.
How Stressful is Being a Real Estate Agent?
Is being a realtor stressful? Yes, Of course. People primarily maintain a stereotype that real estate agents only show properties to clients, create offers, then sit back for the paychecks to roll in.
However, working as a real estate agent is a challenging career option. Real estate agents have to work for 80 hours a week without getting burnt out.
Unfortunately, to top it off, aside from dealing with work stress, income is uncertain when you are unable to generate leads and close deals. Here are some factors that describe how stressful it is to be a real estate agent.
Work for Long Hours
The real estate agents have to spend long hours jam-packed with researching leads, calling them up, and arranging visits to show the properties. The agents even sacrifice their own time to complete their assignments.
Substantial Workload
Real estate agents have a substantial workload to get income only when the properties are sold. If you are not on a strong run of sales, it can be tough on your personal income.
Work Pressure for not having enough Listings
When you run low on inventory, there are not enough property choices to show to the clients. It negatively impacts the amount of sales you can close and your monthly income.
Low Conversion Ratio
Sometimes real estate agents focus more on researching and generating leads rather than nurturing them. This vicious cycle results in a low conversion ratio, which somehow affects the sales conversion ratio.
Managing Back Office Tasks
Working as a real estate agent is hectic, and you must always stay on top of your toes. The agent's job is not limited to showing the homes; you have to manage the back office tasks like staying on top of dead deadlines and doing paperwork alongside scheduling new client showings.
No Personal Time Off
The real estate agents don't have any personal time off. Work can somehow blend into each day of the week. Many agents spend time researching and doing their work assignments, like sending personalized messages and emails to the cold leads and trying to find new clients to work with. Generally, real estate sales require long hours and hard work.
Conclusion
The Real Estate Industry has exploded a multitude of job opportunities for professional real estate agents and is expected to grow more in an upward trajectory. However, U.S. laws address the standards for securing a rewarding job in the real estate sector. Although agents can work full-time and part-time on weekends, real estate agents have to understand the market trends, monitor price variations, meet people, generate qualified leads, handle complex paperwork, verify new listings, and provide customer service with one-of-a-kind services.
Hope this post guides you through the necessary steps and helps you start your career as a Real Estate Agent in the USA!
Originally published at https://medium.com.
