Would you like to find out how to become a real estate agent and make a fortune in a very short time? Kindly keep reading to the end.
Working as a Real estate agent is ranked #4 in the best sales and marketing jobs in the United States. This is a very lucrative field for people who know how to do it successfully. People enter the field from different occupations and careers. That is, regardless of your background you can succeed.
Are you looking to pursue a career in real estate? Do you want to know how become a successful real estate agent? If your answer is yes, follow these few steps and see your dream comes true.
- REVIEW YOUR STATES REAL ESTATE REQUIREMENTS
The first thing to do is to research and review your state’s real estate requirements for licensure. Real estate agents need a license to practice. Each state has different requirements and you must meet your state’s unique licensing requirements to become a real estate agent. That is, the first step is to navigate your state’s regulatory website, which can easily be found by doing an online search.
However, each state typically requires these basic requirements
- Age: You must be 18 years old to become a real estate agent, although some states require potential agents to be 21.
- Background checks and fingerprints: Most states require a background check and fingerprint submission to process your real estate license application.
- Education requirements: Education requirements such as high school diplomas and GED are needed to get started.
- Coursework: All states require pre-licensing coursework. You can find out what courses, how many needed to be completed and the availability of requisite online classes on your state’s real estate commission website.
- Licensing exam: All states require an agent to take and pass a licensing exam. It is needed to legally work in the state. These licensing exams are typically comprised of about 100 multiple-choice questions.
For existing agents who want to obtain licenses in other states, possible reciprocity agreements should be researched. Reciprocity laws allow agents of one state to practice in another state without having to meet any additional licensing requirements.
- TAKE AND COMPLETE PRE-LICENSING COURSES
Pre-licensing courses can be taken from any accredited real estate licensing school. Sign up for the licensing school of your choice. These courses serve as free estate agent training. Complete all required courses before registration for your licensing exam.
- REGISTER AND PASS YOUR REAL ESTATE LICENSING EXAM
Register and pay for the licensing exam. Visit the state’s real estate commission website for details. Complete the registration process and pay the required fees for your licensing exams. It is advised to take practice exams to ensure you have mastered the test materials.
The real estate exams are issued by the state. It covers working with clients, negotiations, closing a deal and following real estate laws. All these have been taught in real estate training courses in pre-licensing schools. Each state has minimum scores required to pass the test. You are allowed to retake the exams if failed for the first time by most states. There may be a maximum amount of times the exam can be retaken.
- JOIN A SPONSORING BROKER
After passing the licensing exams, you must join a sponsoring broker willing to sponsor you before the state grants you a license. A sponsoring broker will mentor you. They will also help give real training and work experience.
Once you’ve made a choice and have gotten accepted by the brokerage, you can now fill out all the paperwork work needed for real estate license applications.
- SUBMIT REAL ESTATE LICENSE APPLICATION
After completing and submitting the application, you will have to wait up to six weeks to be notified of approval for your application. Once approval is given, your license will be issued. Once your license is issued you can now legally work as a real estate agent
Real Estate SALARY
The average real estate earns an average salary of about $47,000 annually. The best-paid 25% earn about $72,000 while its least paid 25% earn about $31,000 annually.
Although becoming a real estate agent and getting a license takes time and some expense, it’s worth it once the license acquired. It is important to start marketing oneself and networking to close sales within six months after licensure.
5 Tips to Make a Fortune in Real Estate
Now you know how to become a real estate agent, discover 5 simple tips to make a fortune in real estate very fast without spending a lot of money.
- Start Small.
If you have never invested in real estate before it is better you start as part-time real estate agent in order to learn the Dos and DON’Ts of the market. This will allow you to learn how to read the contracts, build your network, and create a plan of action to succeed. This will also allow you to avoid big lost if you make a mistake.
- Think Big and Bigger.
Staring small does not mean thinking small. You need to think big by starting small but creating a plan to make a fortune in the long run. Every progress you make think bigger, bigger and bigger. This will help you to grow your business, improve your career while overcoming limits and obstacles in your real estate business.
- Find Good Deals before Your Competitors.
Real estate is like any other business; to make profit you need to buy at low prices and sell at higher prices. The problem is to find good deals. In fact, if you can find the deals before the competition, you can transform small amounts of money into large sum of money in a relatively short period of times by flipping houses.
Here are 4 simple means to find good deals include:
- Consider buying a bank-foreclosed property
- Be the first to find it. as they say, “The early bird gets the worm”
- Contact absentee owners privately asking them to consider selling.
- Be persistent to look at a lot of deals until you find some good deals.
- Learn Continuously and Earn progressively.
These days information is everywhere. You can educate yourself without spending thousands of dollars on coaches and pricey seminars. In fact, you need to avoid most of those expensive seminars. Watch videos on YouTube, search Google, ask questions on forums, read books, learn from your mistakes, and most importantly, from other people mistakes. Talk to brokers, call contractors, view open houses, and go to meetups. Learn at the very step!
Take actions when you find good deals; however, avoid blowing your budget while investing. Instead, lever your funds to increase returns and reduce risk. Start with one project. Get your model set, tweak, then buy two. Continue and progress until you build a solid portfolio.
- Profit is in the purchase.
If you don’t buy you cannot make money. Therefore, once you find a good deal that can be sold fast or profitable, pull the trigger. As Roy McDonald, founder and CEO of OneLife says, “the winds of a favorable real estate market can shift rapidly; the last thing you want is to be anchored to a dozen unsellable investments…Know the difference between buying, holding, and trading. Buying is a no brainer, but it’s what you do with a property that determines your success”
If you know other means to become a successful real estate agent, kindly comment below to share them with our readers.