Are you considering a career in real estate? And are you wondering What Education Is Required To Be A Real Estate Agent? But you don’t need to worried about because formal college education is not required to become a real estate agent. Rather, depending on your state, you must be at least 18 or 19 years old. You can then take the courses necessary by your state, followed by the real estate license exam.
You are now qualified to help consumers in the purchase and sale of real estate. So, you can boost your career by becoming a real estate broker.
This position necessitates further training and allows you to handle more technical parts of real estate transactions, such as establishing the escrow account. Brokers often own and operate their own firm and employ other real estate agents. You can also develop your career by becoming a member of the National Association of Realtors (NAR), a professional organization founded to promote the real estate profession. NAR members are supposed to follow a strict code of ethics, therefore membership in the organization helps your customers have faith in your abilities.
General Requirements to Become a Real Estate Agent
What Education Is Required To Be A Real Estate Agent? To become a licensed real estate salesperson or agent, you must first:
- You must be at least 18 or 19 years old (depending on your state).
- Have legal residency in the United States
- Complete your relicense education requirements.
- Pass the state real estate license exam.
These elements are the high-level requirements for becoming a licensed real estate agent. However, many decisions must be made along the way that will define your level of success in your real estate profession.
What are the many kinds of real estate degrees?
If you decide to pursue a postsecondary education in real estate, common degree possibilities include:
An associate degree might act as an entry level into a career in real estate. After finishing high school or getting a General Educational Development (GED) diploma, you can pursue this degree.
An associate’s degree typically takes two years to accomplish. Some schools provide an Associate of Arts in real estate. Consider real estate-related coursework such as business law, property management, legal elements of real estate, and real estate concepts as an alternative.
You can get specialized knowledge and abilities by earning a bachelor’s degree in real estate or a similar field. Business administration, marketing, finance, real estate legislation, land use economics, market data analysis, and management and accounting concepts are among the topics covered in the courses.
A bachelor’s degree could boost your income potential as a broker, agent, or real estate management in the future. These programs typically take four years to complete. Alternatively, you might major in the field in which you wish to work and minor in real estate.
Master of Business Administration (MBA)
A master of business administration in real estate is a graduate degree that teaches business and investment management with a focus on real estate development. Individuals who manage real estate investments such as hedge funds and real estate investment trusts (REIT) or want senior-level executive positions in real estate development generally pursue this degree.
Real estate and investment, urban economics, and real estate financing are among the topics covered in the courses. After earning a bachelor’s degree and passing the Graduate Management Admission Test (GMAT) or Graduate Record Examinations (GRE), depending on the prerequisites of your selected institution, you can pursue an MBA.
MBA programs normally last two years, although some offer flexible options that enable you to study part-time while working. A Master of Science in real estate and a Master of Science in international real estate are two options similar to an MBA in real estate.
Master of Real Estate Development (MRED)
A real estate development master’s degree is a specialized graduate degree. This curriculum teaches students how to handle real estate development and discusses the economic factors involved.
Courses focus the development of industry-related skills such as planning, building, and market analysis. Graduates typically go on to work in development, civil construction, real estate financing, and property evaluation. The MRED has many of the same qualifications as the MBA. Typically, an MRED takes two years to complete.
What does a degree in real estate teach?
What Education Is Required To Be A Real Estate Agent? A real estate program, like other undergraduate degrees, typically takes four years to finish. You might expect to study about subjects such as:
- Real estate investment and valuation
- Real estate legislation and regulations
- Concepts for urban development
- Liens for land purchase
- Commercial versus residential deals
- Based on data analysis, make a decision.
How to Become a Real Estate Agent?
There are various stages to become a real estate agent, and the specific process varies based on the state or nation you live in. The general steps to becoming a real estate agent in the United States are as follows:
Step1: Investigate State Requirements:
Learn about the unique requirements for becoming a real estate agent in the state where you intend to work. Because real estate regulations and licensing procedures are governed at the state level, it’s critical to become acquainted with your state’s real estate commission or licensing board.
Step 2: Meet Eligibility Criteria:
To become a real estate agent in most states, you must be at least 18 or 19 years old and have a high school diploma or equivalent. Some states may have extra eligibility restrictions, so be sure to check the specifics.
Step 3: Pre-Licensing Education:
Take the pre-licensing education classes required by your state’s real estate commission. The amount of hours and content covered in these courses differ from state to state. It is critical to select a reputed real estate school to ensure proper preparation for the licensing exam.
Step 4: Pass the Licensing Exam:
Once you have completed the pre-licensing education, you must pass the state real estate license exam. The exam assesses your understanding of real estate principles, legislation, and practices in your state. Proper preparation and study are required to pass the exam.
Step 5: Background Check and Application:
As part of the licensing procedure in many states, you must submit to a background check. Your application will be reviewed by the state real estate commission, and if you meet all of the requirements, you will be issued a real estate license.
Step 6: Find a Brokerage:
As a newly licensed real estate agent, you will be unable to work solo. You must be a part of a licensed real estate brokerage. Investigate and select a brokerage that corresponds with your professional goals and provides the support and training you require as a beginner.
Step 7: Become a member of the National Association of Realtors® (NAR):
Although it is not required, many real estate professionals choose to join the National Association of Realtors® (NAR). Joining NAR grants you the right to use the title “Realtor®” as well as access to useful information and networking opportunities.
Step 8: Ongoing Professional Development:
Real estate is an ever-changing profession, and success requires ongoing learning. Maintain your professional development by attending conferences, seminars, and webinars to remain current on industry trends and legislative changes.
Step 9: Create a Client Base:
Creating a client base is essential for a successful real estate career. To acquire clients and create relationships with potential buyers and sellers, use your network, social media, and marketing methods.
Step 10: Comply with State legislation:
When doing real estate transactions, be sure you follow all state legislation and ethical standards. Maintaining a reputation for honesty and integrity is critical for long-term industry success.
Remember that the process of becoming a real estate agent varies depending on where you live, so always verify your state’s unique criteria and proceed appropriately.
What Can You Do With a Real Estate License?
Getting your real estate license opens the door to more potential clients in the housing business than just becoming a real estate salesperson. Here are some examples of real estate-related jobs:
- Real estate broker: supervises a group of real estate agents.
- Appraiser: Determines the worth of real estate.
- Property Manager:Property Managers are in charge of overseeing and maintaining real estate properties.
- Real estate investor: Similar to home flippers, buys and sells real estate properties for a profit.
- Real Estate Attorney: A real estate attorney is someone who prepares or evaluates the closing documentation for a real estate transaction.
- Home Inspector: Before purchasing a home, a home inspector will inspect its condition.
- Mortgage Loan Officer: A mortgage loan officer works with a financial institution to originate property loans.
- Real Estate Photographer: Photographs the interior and exterior of commercial and residential real estate properties as a real estate photographer.
- House stager: A house stager is someone who makes sure a property appears its best for potential purchasers.
Is it worthwhile to get a real estate degree?
Becoming a real estate agent can be a successful and enjoyable career path, but it is not for everyone. Before selecting if the job fits your goals and aspirations, you must carefully assess your interests, talents, and personal preferences. Here are some things to think about when deciding whether or not to become a real estate agent:
- Passion for Real Estate: Do you have a genuine interest in the real estate market, property transactions, or the housing industry? Successful real estate brokers frequently have a strong attachment to the homes they represent and love staying current on market trends.
- People Skills: Real estate brokers deal closely with clients such as buyers, sellers, and other industry experts. Strong interpersonal and communication skills are essential for creating relationships, understanding clients’ demands, and effectively negotiating deals.
- Flexibility and Time Management: Real estate agents frequently have flexible schedules, but this also entails working irregular hours, including weekends and evenings, to accommodate customers’ availability. Are you capable of managing your time effectively and responding to changing work hours?
- Sales and Negotiation Skills: Sales and negotiating are at the heart of a real estate agent’s business. Can you effectively promote properties, attract potential buyers, and negotiate deals such that your clients benefit?
- Financial Considerations: Starting a career in real estate may need upfront payments for education, licensing, and professional organization membership fees. Furthermore, because real estate salespeople sometimes work on a commission basis, a consistent paycheck is not always guaranteed.
- Problem-Solving Abilities: Real estate transactions can be complex, with unanticipated obstacles that arise throughout the process. To keep agreements on schedule, agents must be experienced problem solvers who can manage obstacles and find solutions.
- Local Market Knowledge:
- It is critical to understand the local real estate market. Are you willing to put in the effort to learn about market trends, property valuations, and local dynamics?
- Self-Motivation and Independence: Real estate agents are frequently independent contractors that manage their own businesses and recruit clients. Do you have the drive and determination to succeed and prosper in a competitive industry?
- Ethical Standards: In their interactions with clients, coworkers, and the general public, real estate agents must keep high ethical standards. Honesty, transparency, and integrity are all necessary characteristics for establishing a reputable and trustworthy reputation.
- Long-Term Commitment: It takes time and perseverance to build a successful real estate profession. Are you willing to invest in continued education, professional development, and networking in order to grow your career in the long run?
Consider having informational interviews with real estate professionals, shadowing agents, or enrolling in a real estate school before making a final decision. A thorough self-evaluation and research can assist you in determining whether being a real estate agent is the best path for your personal and professional goals.
Do you need to get any certifications to work in Real Estate?
While certifications, like state licensure examinations, are not require, they can help you boost your work prospects. You may find out a niche in the real estate job market by completing training on topics such as environmentally friendly real estate and residential property.
You may also be able to work at brokerages that require agents to be certified by the National Association of Realtors (NAR) or local state or county bodies. Certifications frequently necessitate membership in the issuing organization, take one year to complete, and contain five to eight courses.
What are the advantages of a real estate degree?
A real estate degree has various advantages that can make it worthwhile to invest the time and money required to obtain it. Here’s a list of why people interested in working in real estate might consider furthering their education:
Improve your employment prospects: While most states do not need real estate brokers to have a degree, postsecondary education can help you get a better job. You can apply for jobs because certain brokerage businesses require a particular level of education.
Differentiate yourself from other candidates: Even if a brokerage firm does not need candidates to have degrees, your postsecondary education may help you stand out from other candidates with similar licenses and certifications.
Increase your earning potential: Most real estate brokers work on commission, which means you are paid a percentage of your sales. A degree may provide abilities that will assist you boost your sales, allowing you to earn more money.
Access possibilities for advancement: While you may start your job as a real estate agent, you may desire to enhance your profession as you gain experience. A degree can help you build the managerial and financial skills needed to advance in this industry.
Which College Majors Are Ideal for Real Estate Agents?
As previously stated, you do not need a college degree to practice real estate in the United States or to begin real estate courses. If you desire to pursue a degree, the alternatives listed below may provide you an advantage over your competition.
A business administration degree is a good option for real estate professionals seeking for a major that covers every aspect of business. A business administration major is an exceptionally adaptable academic certification that teaches you the ins and outs of running a successful corporation. In terms of real estate, this major will equip you with the tools to develop a strategic business plan that will help you dominate your local real estate market and add value to your real estate firm. Most importantly, it teaches you how to manage and master the money that come with running a real estate firm.
It is not easy to learn how to advertise yourself and your brand. While a marketing degree is not required to obtain a real estate license, it can educate you not just the fundamentals of marketing, but also how to communicate the appropriate messaging through various methods of real estate marketing such as direct mail, email, and social media. You’ll also learn how to successfully and efficiently market and use your social media networks. Even if a real estate agent does not pursue a marketing degree, we recommend that people interested in entering the sector take a few marketing classes to refine the vital, business-building abilities that this major provides.
Knowing how to communicate, like knowing how to advertise, is a valuable ability for a real estate agent. A communications degree teaches you how to effectively express critical information and how to apply this knowledge to many commercial disciplines, including real estate. A communications degree can also teach real estate workers how to collect and evaluate data before turning that data into a strategy that leads to greater real estate business. One example of how a communications degree might help an agent succeed is conducting local market research to determine the optimum time to have open houses.
While a graphic design degree is not often required for real estate Sales Agent, Salesperson, or Broker License holders, understanding how to design a website, mailers, and maps that demonstrate property lines to customers are valuable tools to have. Learning photo editing methods is another advantage of this degree. Consider how many property photos you will take during your career. Using Photoshop to make those photographs look sharp and professional will undoubtedly increase their marketing potential and benefit your real estate business.
It is not easy to learn how finances function in a firm on a daily basis. Having an accounting background can not only teach you the financial trademarks of a successful firm, but it can also pay enormous rewards for you and the real estate agency you join after finishing your real estate education. Being a real estate Salesperson with accounting knowledge will boost your value in the eyes of your brokerage while also assisting you in understanding how the money flows in the firm on a daily basis.
Some people are born with an entrepreneurial spirit, while others develop it through education and experience. For people who struggle with entrepreneurship, this degree is an excellent way to hone your talents. Your level of success in the real estate market is mostly determined by who you are, how you work, and your commitment to continuous improvement. If a real estate agent is merely seeking for a part-time job, this entrepreneur attribute isn’t as vital. However, if you want to dominate your real estate market and become a master in your profession, you must approach it like an entrepreneur. With this degree, you’ll learn how to manage risk and reward, then apply that knowledge to your profession and watch your firm develop.
Understanding real estate finance is an excellent approach to gain entry into your preferred agency. Knowing how to expand a firm and identify financial opportunities to do so is vital knowledge that you would gain as a finance student. A finance degree, such an accounting degree, can make you more appealing to real estate brokerages when you complete your real estate education.
What is the average time it takes to become a real estate agent?
It takes four to six months on average to finish the requisite real estate courses and pass the license exam. However, a few things determine how long it takes to become a real estate agent. These considerations include whether you take your real estate courses online or in-person, the state in which you acquire your real estate license, and the number of times you pass the licensing exam.
Frequently Asked Questions
What skills are require to work as a real estate agent?
Many clients want their real estate salespeople to be excellent communicators. During their training, many real estate brokers learn how to negotiate. Many clients prefer real estate brokers that are dependable and simple to reach during the purchasing or selling process. Real estate agents must be great researchers in order to stay current on market developments.
What jobs are available with a real estate license?
If you have a real estate license, you could work as a leasing agent, commercial or residential salesperson, real estate broker, property manager, or a showing assistant. Any of these job paths will benefit from your real estate skills.
What does it take to become a real estate agent?
Application expenses, curriculum fees, and testing fees will vary by state, but most people should budget between $300 and $1000 to become a real estate agent. Aspiring real estate agents should also include in the costs of their first year of operation, which will involve advertising and developing a personal brand.
Is it worthwhile to obtain a real estate license?
Obtaining a real estate license is worthwhile and required if you wish to assist others in the purchase and sale of real estate. It may also be worthwhile if you intend to invest in real estate yourself, since it will provide you with additional information to help you succeed.
What is the difference between a real estate agent and a broker?
A real estate agent lacks the education and experience of a real estate broker. They can eventually return to school and work as an agent for a few more years before applying for a real estate broker license. Many real estate agents are employ by a real estate broker.
Is sales experience require to become a real estate agent?
Although no previous sales experience require to become a real estate agent, it can be incredibly useful to your business. Having 1-3 years of sales experience prior to becoming a real estate agent would only benefit your career.
What is the procedure for becoming a real estate agent?
To begin, you must have a high school diploma or GED and be at least 18 years old. Next, find out what your state requires to take the real estate certification exam. To become a certified real estate agent in your state, you must study for and pass this exam.
What are the advantages and disadvantages of working as a real estate agent?
Advantages of working as a real estate agent: You can set your own flexible schedule, assist others in finding housing, and earn a limitless income. Cons: both hours may be set by client needs; the closing season can be stressful for both buyers and sellers; and you do not have a backup plan if the market slows.
Real estate agents can they work from home?
Real estate agents can normally operate from home, but there are some aspects of their business that must be done in person, such as showing homes to prospective buyers and hosting open houses.