For many job-searchers, for many reasons, the real estate field continues to entice. Realty jobs incorporate a broad-based skill set combining home improvement, public relations, law and business savvy. This environment offers individuals from diverse backgrounds a chance to thrive. While real estate is a fine fit for a wide variety of people, it’s important to know what to expect before beginning any new career.
Earning Your License
A real estate career can be full of possibilities, from turning a hobby into a paying job to making marvelous money with flexible hours and without much special education. However, you will still have to complete the necessary training for a real estate license in the state where you plan to practice.
The nature and degree of training vary greatly between states. For instance, Nevada real estate license requirements involve 90 credit hours of pre-licensing education and a 120-question test to become a real estate agent. For comparison, South Carolina requires 60 hours, while Texas requires 180 hours of course work.
Every state’s Real Estate Commission sets additional conditions concerning age, residency, prior education and criminal background. You should also be aware that certain states have license reciprocity agreements with one another, which can cut down the educational requirements for realtors in reciprocal states.
Working After Obtaining Your License
Serious differences in state regulations make it hard to generalize what you will be doing after receiving your license. The traditional arrangement is for a real estate agent to work for a broker, basically as an apprentice. You make your own sales, but your broker is legally accountable for your business, including the commissions that pay your salary. After years of work experience, plus more state-mandated education, you can qualify to be a broker yourself and take charge of your own business. Some states waive experience requirements for real estate college graduates or lawyers, and some basic state licenses automatically let you work as a broker.
Maintaining Your License
In every state, real estate licenses must be periodically renewed. This may entail completing continuing education courses to keep you current with trends in the market and the law. Outside of your education, you should still stay informed on these matters and follow your state’s rules, along with the Code of Ethics of the National Association of Realtors (NAR) or any other trade group to which you belong.
Whatever your passion or previous experience, it can probably help you on your quest to become a five-star realtor. Understanding your state’s real estate licensing laws will give you a head start on the path to success.