How To Get A Real Estate License

Real estate is a booming business in America. With millions of dollars worth of property being bought and sold every day, real estate is definitely a popular commodity. To deal in real estate, a person needs to acquire a real estate license. This could be considered a passport to a lucrative career in real estate.

The process of acquiring a real estate license is simple. There are a few eligibility criteria to be observed. Any applicant must be at least 18 years of age when applying for a real estate license. The applicant should not have had a real estate license denied within one year, or revoked within two years from the date of application. More importantly, if the applicant was originally licensed more than ten years ago, he may not be able to use his prior pre-licensure education unless he has worked in a related field. All new salesperson licensees must also take a six-hour continuing education course in contract law and contract writing before they activate their licenses. It is essential to verify that the applicant is honest, truthful, of good character and competent. Information and documentation relating to the applicant’s background must be provided on an application. Additionally, all new salesperson licensees must have at least three years of experience as a salesperson or broker during the five years immediately preceding application for a broker’s license.

There are various institutes and online education portals that help in guiding the applicant through the application process. They also provide adequate tutoring to enable applicants to prepare sufficiently for the examinations. There are fees required to take both the salesperson’s and broker’s exams. On passing the exam, the candidate may have to pay between $100 and $200 for the license.

Once the license is received, a person is fully eligible to practice in real estate as an authorized real estate broker.

Real Estate License Required

Looking for a very lucrative business opportunity? Real estate brokering is the top choice for a lot of people. Real Estate Brokers and real estate agents are working throughout the nation. Not only are they making excellent incomes, they are also contributing to the economy in direct, as well as, indirect ways. By helping the sellers in selling their property and at the same time helping the buyers in buying a property these agents help satisfy their need for shelter. Creating this transaction often entails many other services to be ordered. So, can anyone start real estate brokering? Well, not really.

Possessing a Real estate license is a pre-requisite for becoming a real estate agent. However, obtaining a real estate license is not difficult. In most states, the qualifications for getting a real estate license are very minimal. So you should first check the eligibility criteria for obtaining a real estate license (rather pre-license) in your state. The real estate license eligibility criterion includes things like the minimum age limit (which is mostly 19 years) and educational qualifications (which is mostly high school). Most states do require a clean criminal record, sorry. Once you know that you satisfy those real estate license (pre-license) eligibility criteria, you can go ahead and enroll for a pre-license training.

There a number of real estate schools that offer real estate license training. Some real estate schools offer online training for a real estate license. Choose a course that is spread over a sufficient duration of time e.g. 1 year so that you are able to grasp the concepts properly (after all you want to become a successful real estate agent and not just another real estate agent). You will be taught a number of topics as part of your real estate license training. All this will help you develop a basic understanding of real estate and various aspects related to real estate (e.g. real estate law, deeds, contracts, ownership transfer, etc)

Once you have undergone this real estate license training, you will be required to undergo a state exam. After you pass this exam, you will generally need to undergo additional training on state approved courses. That’s it, you can now get a real estate license which is worth that effort (as you will find in a couple of years of starting real state brokering). Most states also require you to go for continuous education after you have received your real estate license. However, this is a just a few hours every few years.

So a real estate license is what you need to start your career as a real estate agent. But your success after that will be dependent on how seriously, ethically and effectively you carry out your job. Unfortunately, eighty percent of new agents will have left the business within five years. Remember, this is a very competitive business and you will find that the top twenty percent of agents earn nearly eighty per cent of the money. Being average in the sales business will leave you hurting financially.

What Topics Does The QLD Real Estate License Course Cover?

Real estate is a booming business and in order to be a part of this lucrative industry one needs to obtain a license to operate. Almost everywhere, a real estate license is a requisite and to get a license in Queensland, there are certain criteria that need to be fulfilled. An integral part of the eligibility is the training one must undergo from a recognized property training organization e.g. Complete Property Training and Recruitment Pty Ltd. The QLD Real Estate License Course is available in classroom mode as well as correspondence. You can go for any mode of training whatever is more convenient for you.

The QLD Real Estate License Course covers the following topics:

1)Implementing and monitoring financial systems – This unit involves establishing and maintaining financial records, preparing formats for presenting and delivering financial reports and monitoring all sorts of financial transactions.

2)Managing agency risk – There are a comprehensive set of tools that will help manage the individual as well as the agency risk. Techniques and strategies of risk management are included in this apart from five other important aspects. The other topics covered here are professionalism (understanding the social and legal risks), finance, sales, property risks as well as health and safety risk.

3)Providing property appraisal – This covers recording and researching property factors and rent indicators, obtaining and analyzing market information, maintaining important property records and assisting the client and providing them with accurate advice to make informed decisions.

4)Establishing and expanding client base – The license course also includes ways and means to establish and expand the client base. This would include satisfactorily servicing previous clients, establishing and expanding business networks, maximizing repeat business opportunities and implementing proper strategies to expand the client base. Quite obviously, this is going to help you a lot in growing your business.

5)Obtaining property listings – This unit deals with the interaction between the client and agency staff to help in successfully listing a property for management or sale.

6)Marketing property – The license course also deals with promoting and advertising the property and developing a market plan for the property.

7)Undertaking property sale by private treaty – This unit deals with the sale of property using general sales techniques and procedures. It deals with screening procedures for buyers, sales presentations, property inspection and the like. This does not however deal with property auction techniques.

8)Monitoring sales process – This unit deals with the correct transfer of ownership and the procedures involved in the monitoring and lodging documents in the requisite legal format.

9)Leasing property – The license course deals in leasing property as well. It involves undertaking property inspections, screening tenant enquiries and applications, preparing and completing documentation and necessary agreements for leasing property.

10)Providing property management services – The agency guidelines usually suggest ways and means to manage property at an operational level.

11)Presenting and explaining property reports – For efficient property management and sales functions, candidates will be taught effective ways of making a property report. It must combine the real facts as well as incorporate the client’s needs.

12)Conducting property sale by auction – This unit involves the preparation, conduct and completion of selling a property by auction.

13)Maintaining trust account – This unit involves establishing a trust account and record-keeping statements, securing cash payments and recording trust account transactions.

14)Implementing a personal marketing plan – This unit involves addressing client requirements, building client database and maintaining a professional image.

15)Performing and recording property management activities and transactions – This unit involves checking and providing tenancy reports, preparing tenancy requirements, recording tenant and landlord transactions, receiving and launching security deposits.

16)Preparing and executing documentation – It involves preparing and presenting appropriate documentation, drafting and constructing documents to meet client and customer needs.

17)Clarifying and confirming property information requirements – This unit deals with the agency staff giving informed advice to clients on the market or on a specific property.

The real estate license course deals with all the above topics and once a candidate has mastered the units and falls into the eligibility criteria, they can get a real estate license. Having a real estate license one can take full advantage of the real estate boom and profit from having their own agency or working in one.

The Real Estate Licensing Process

There is no doubt that a career in real estate can be very advantageous, as well as exciting. Of course, in order to obtain a career in this field, the first thing that you will need to do is go through the real estate licensing process. This does not need to be difficult, as long as you have a good idea of what it is that you will be facing. Here, we will take a closer look at some of the most important things that you should know when it comes to real estate licensing.

One of the things that you may be wondering about is what type of requirements there are for you to be eligible for real estate licensing. For starters, you need to be of at least eighteen years of age. You also must have graduated from high school, or have obtained a degree of equivalency, such as a GED in order to go through the real estate licensing process. Before you can take the exam that is required for real estate licensing, the first thing that you will need to do is learn more about what other requirements your state has prior to the real estate licensing process.

Most states will require you to take a course, or some form of training before you will be eligible to complete the real estate licensing exam. These types of real estate training courses are often offered by community colleges or real estate schools. You should be able to find one within your local area. It is important to make sure that you learn about all of the state requirements beforehand. Completing them is the first step of the real estate licensing process, as you cannot continue the process without these requirements.

Once you have completed all of the requirements of your state, the next thing that you will need to do is find a test center which offers real estate licensing. The cost of this examination will vary according to where you live, but it is typically around a hundred dollars. Keep in mind that is necessary for you to get your real estate licensing done from the state that you are planning on working in. For example, if you are planning on working as a real estate agent in California, you would not want to get your real estate license in Washington.

In order to prepare yourself for the real estate licensing examination, it is important to make sure that you look over all of the information that you learned in your real estate classes. It will also be very beneficial for you to buy a real estate licensing test kit, which will provide you with a good idea of what types of questions you can expect to see on the real examination.

Keep in mind that if you do not pass your real estate licensing test the first time, it is quite okay. You will be able to take it again, but you will probably need to wait a certain period of time. Once you have actually passed the real estate licensing examination, you will be ready to find a job with a reputable real estate agency to work for. While you may have to spend money, time and hard work to get through the real estate licensing process, you will find that it is well worth it in the end.

Basics of Obtaining a Real Estate License

The United States of America is a country filled with unlimited opportunities in the real estate industry. Are you willing to start your career in this lucrative arena? If yes, then keep on reading the article to know the basics of getting a real estate agent (salesperson) license.

To work in real estate as a salesperson or broker, an individual needs a valid real estate salesperson or broker’s license.

Getting a Real Estate Agent (Salesperson) License

To obtain a real estate agent (salesperson) license, an individual has to meet certain requirements. Every state in the US has its own rules and regulations regarding the issuance of a real estate license, but here are some general requirements:

o Applicant must be over 18 years of age
o Applicant must be a legal resident of the country
o Applicant must successfully complete a pre-license course
o Applicant must successfully pass a real estate examination
o Applicant must complete and submit an application form
o Applicant must pay applicable license fees

It is highly recommended that every prospective agent read and understand all requirements, state specific and otherwise, before applying.

If an applicant’s license has been revoked within two years, or denied within one year from the date of filling the application, he/she is not eligible to obtain a license.

Testing Requirements

Testing requirements for every state may vary, thus, it is vital to check the latest test requirements of the state where the applicant is applying for the license. Generally, most states use a multiple choice format. Tests will usually contain state specific-questions.

Passing the Real Estate Examination

Once an applicant clears the examination, he/she will have to fill out the application form and pay the required fees (it varies from state to state). After getting the license, the licensee must be sponsored by a broker.

Continuing Education

It is important to remember that the real estate education does not end once one obtains a license as there are several states that require the license holder to renew their license through approved continuing education. Renewal periods differ from state to state, and it is the responsibility of the licensees to know what their specific state’s requirements entail.

Show Me Your Real Estate License Before We Do Business

In my state, and I assume in other parts of the country, people pretending to be licensed real estate agents when they are not is an increasing problem.

You are riding around looking to buy a house. You see a sign in front of a house for sale. You call the number. The person on the other end of the phone is either the owner or a licensed real estate agent or a scammer. Who else could it be? If they own the house, that is OK. If they are a licensed agent hired by the seller, that is ok. If they are someone else what are they up to? Ask them if they are the owner. If not, ask them if they are a licensed agent. If they say yes, ask to see their license. If they offer you a business card, ask to see their state issued real estate license. There is no legitimate licensee that would object to showing you their license. In fact, most agents, including me, would be proud to show a license. The only person that would not want to show you a license would be someone that does not have one. If they do object or refuse, be suspicious.

If they do not own the house and they do not have a real estate license, where do they fit in the transaction? It would seem to me they must be up to some sort of scam. Why not ask them”, where do you fit in this transaction?” That seems like a reasonable question to me. They might tell you they are handling this for a friend or relative. If that is true, you may want to ask if you can talk directly to the owner. If I were handling this for a friend or relative, I certainly would not object if someone wanted to talk directly to the owner. Would you? Of course they could tell you” I have an option to buy this house for fifty thousand from the ignorant,naive person that owns it and I am hoping to sell it to you for one hundred and twenty thousand. All I have to do is defraud the mortgage company into believing it is only worth fifty thousand and convince you it is worth one hundred and twenty thousand. Maybe the real owner will get sued for a deficiency judgement for several thousand dollars. That is too bad. This is a great deal for me.”

Licenced real estate agents have what is known as fiduciary duties. They are required by law to be honest. There are very serious consequences for dishonesty. They could have their license revoked if they are dishonest. If you meet one that does not want to show you their license, maybe they used to have a license but they do not anymore. People with criminal background can not get a real estate license.

One of the reasons that the state issues real estate licenses is so people with criminal backgrounds can not practice selling real estate. Another reason you might want to ask to see someones’ license is so you will know you have their right name. Crooks use aliases. Be cautious. Honest legitimate people do not mind at all. When dealing with a real estate agent, ask “May I please see your license?”

Real Estate License Online

Property, may it be residential or commercial, is one of the most important components of any economy. The real estate market is ever expanding and highly beneficial for those who decide to pursue the field. The key elements to a career in real estate are: a sound and convincing presence, proper knowledge of the market, and patience coupled with perseverance. Apart from all this, a person requires a real estate license to legally practice as an agent or broker.

With technology growing in leaps and bounds, the Internet is increasingly being used as a means to spread education and knowledge. Today, one need not attend special classes to receive a license. There are several online facilities that offer online courses to help a person acquire a real estate license.

Real estate license training courses can be taken according to the convenience of the user. These online institutions offer some of the best courses, online tools and guidance in the industry. Online courses are designed for personal coaching and private tutoring. Another great feature about these courses is that they are available around the clock.

The requirements for an online license are simple. They do not require the download of any special programs nor is the applicant restricted to when and how long he is online. There is no need of special skills to access and take classes. The online courses are simple to understand and very user-friendly.

The online real estate education portals also cater to applicants who want to renew their licenses. If an applicant submits an application after 90 days of the previous license expiring, he will have to follow the reapplication process all over again, including all the documentation and the fees. However, the license board may exempt the person from re-examination if the application is received within two years of the first license expiring.

Today, an increasing number of people are opting for the online real estate license courses. These not only offer detailed study material and market knowledge but also provide home-based conveniences. With these online license courses, a rewarding career in real estate is just a click away.

7 Steps to Get a Real Estate License

The details of how you get a real estate license is different in every state but here’s a walk through list that can be catered to where you live:

For starters, to get a license you will need to fulfill a prerequisite number of hours of education. The state that you are specifically applying for this from has a commission that determines the number of required hours so this number will vary. In my state of WV it is 90, yours could be 60, etc? To fulfill these required hours of education you can’t just get a book and simply study for the upcoming testing date. You have to get your required hours of education from a source that also has been approved by the state that you are trying to get your real estate license for. Be sure to check your localities commission for providers they have approved. To pound on this point a little more; When looking for an online class or in class provider make sure they are approved in your state to offer the education you are looking to pay for. State law will always govern getting a real estate license in the United States and the Internet clearly is a worldwide market. That in mind, don’t just buy a class from some school in Florida if you want to test in West Virginia and you haven’t checked out where that education can be applied. Same rule applies in every state. Check out whom you are getting your pre real estate license education from carefully. As a general rule of thumb I’d stay local to where you are getting your real estate license simply for the fact the test you will eventually be taking is made and proctored by that states officials. Don’t necessarily think global when dealing with step 1.

After you have fulfilled your states regulated hours of pre license education from an approved school it is time for step #2! To submit an application to your states commission and request that you be issued a real estate license. The application is laid out like a job application and wants to know some basic info about you. In West Virginia you can get the applications here. If you are not in West Virginia simply Google your localities commission and they should have their application posted. After your commission approves your application they will send you a letter assigning you a seat for the state specific exam. This is what you have been prepping for during those grueling prerequisite hours of class! The state exam here consists of 200 multiple-choice questions. You need to get at least a 75% on this test to pass. After passing the test expect a letter in the mail that congratulates you and allows your future employing broker to hold your new, crisp, black and white, real estate license.

In a nutshell

#1 Find an approved class offering “pre sales license” education for your particular state.

#2 Pass that class! (the length of this class is determined by state law and varies)

#3 Fill out your states license application and get it back to them. (When in doubt, ask the school you are taking the class from)

#4 After the commission see’s you have fulfilled your pre real estate license class and completed their app they will send you a reservation for the state exam.

#5 Pass their exam!

#6 You now will hold a real estate license and will need to find a broker in your area to work under.

#7 Pat yourself on the back. This process can take at least a month and require a whole brain load of real estate facts you might never see again in real life practice.

Arthur Zwiener is the director of Technology for the Morgantown Board of REALTORS. He also teaches for Spruce School of Real Estate in West Virginia.

How to Get a Real Estate License in California

A career in property selling field can be very lucrative, but you need to have a license in order to sell buildings. In California, the licensing process can be done fairly quickly for obtaining a real estate license. If you are interested in selling homes or commercial properties, here are the requirements for getting a license.

License Requirements

According to California real estate license requirements, you must be at least 18-years-old to apply for a real estate license. Although you may be a resident of the state, residency is not required and there is a process for non-residents to take the exam. If you are at least 18, then you need to complete three college level courses pertaining to real estate, which are a minimum of 45 hours each.

The coursework can be completed online or you can take classes in person. There are two required courses and one elective course. The required courses are:

• Real Estate Principals

• Real Estate Practice

You have several options for the elective course, including:

• Property Management

• Real Estate Finance

• Legal Aspects of Real Estate

• Business Law

• General Accounting

There are several other elective classes from which to choose. As you complete each course, you will be given a final exam and then you will receive a Course Completion Certificate from the school where you took courses once you have passed all of the final exams.

How to Get a Real Estate License in New Jersey

Understanding how to get a real estate license in New Jersey is fairly straightforward. The licensing process is governed by the New Jersey Real Estate Commission (the “NJREC”). There are just four steps candidates need to complete, and all 4 steps must be completed within one year of the last day of the required Salesperson Prelicensure Course.

1. The Commission requires all licensing candidates to take a mandatory 75-hour “prelicensure” course at an accredited real estate school. In order to meet the minimum attendance requirements, students may not miss more than 20% of the 75 course hours, for a maximum of 15 total hours absent. Students must also pass the final exam administered by the school itself.

Tip: Choosing an accredited school is an important decision; students should take care to get references from people active in the business, and whenever possible, listen to the instructor teach before registering for classes at any particular school.

2. Once students have successfully completed the prelicensure course, they are eligible to sit for the NJ Salesperson’s Licensing Exam. The exam is currently administered by a testing company called PSI Exams. Students must pass this computerized exam with a 70% or better. The exam is graded immediately and candidates are told whether they have passed or failed the exam before leaving the testing center. A PSI Score Report will be issued accordingly – candidates receive either a “pass notice” or a report indicating which subject areas they need to improve.

Tip: If a candidate does not pass initially, he or she my retake the Examination again by waiting 24 hours and then calling the testing center to reschedule.

3. After passing the State Exam, candidates need to schedule an appointment with a company called Sagem Morpho to have their fingerprints taken electronically for the purpose of a criminal history record check. Candidates receive paperwork and a receipt on-site after completing their appointment.

Tip: Your fingerprints are only good for 90 days, so do not schedule an appointment for fingerprints until AFTER you have passed the State Exam!

4. After completing steps 1 – 3 noted above, candidates may bring their PSI Score Report and Sagem Morpho paperwork & receipt to their future real estate brokerage company (i.e., the company for whom the candidate intends to work)… the brokerage will in turn submit the candidate’s application to the NJREC for review.

Tip: Although we are not calling it out as a specific “step” in the process, please understand that deciding which company to work for is absolutely critical in developing your career, so it’s important to do everything you can to make an informed decision.

Noteworthy: Any discussion regarding how to get a real estate license in New Jersey should also advise candidates that, as a Salesperson, they must work for a Licensed NJ Brokerage company. However, once a Salesperson has worked in the business for 3 years on a full-time basis, they are eligible to further their education and apply to become a Licensed Broker themselves.

Tip: It is NOT legal to work as a Salesperson until a Salesperson’s license has been issued by the State of NJ. Candidates receive their actual license from the State via mail in approximately 7 to 10 business days.