Getting your real estate license and working as a real estate agent can be a rewarding and lucrative career choice – but let’s take a look at the realities on the ground. In this field, you have the opportunity to help people find their dream homes, build relationships, and grow your business. In this blog post, we’ll provide an overview of what it takes to get your real estate license and start a career as a real estate agent.

Step 1: Meet the eligibility requirements To become a real estate agent, you must meet the eligibility requirements set by your state’s real estate regulatory agency. These requirements typically include being at least 18 years old, having a high school diploma or equivalent, and passing a background check.

Step 2: Take pre-licensing courses Once you have met the eligibility requirements, you can begin the process of getting your real estate license by taking pre-licensing courses. These courses are designed to provide you with the knowledge and skills needed to become a successful real estate agent. They cover topics such as real estate law, ethics, and real estate practices.

Step 3: Pass the state licensing exam After you have completed your pre-licensing courses, you must pass your state’s real estate licensing exam. This exam is designed to test your knowledge and understanding of the concepts covered in your pre-licensing courses. It is important to study and prepare thoroughly for the exam, as passing is required in order to become a licensed real estate agent.

Step 4: Find a broker Once you have passed the licensing exam, you must find a broker to work under. A broker is an experienced real estate agent who has passed additional licensing exams and is authorized to supervise other agents. Your broker will provide you with guidance and support as you start your career as a real estate agent.

Step 5: Build your network and start selling homes As a new real estate agent, you will need to build your network and start selling homes. This involves developing relationships with potential clients, networking with other real estate agents and professionals, and staying up-to-date on market trends and real estate news.

The average income for real estate agents varies greatly depending on several factors, including the agent’s location, experience, and success in the field. According to the Bureau of Labor Statistics (BLS), the median annual wage for real estate brokers and sales agents in the United States was $50,300 in May 2020. However, the BLS notes that earnings can range widely, from less than $23,000 to more than $126,000 per year, depending on the agent’s level of experience and success.

It is important to note that real estate agents typically work as independent contractors and do not receive a regular salary. Instead, their income is largely dependent on commission, which is typically a percentage of the sale price of a property. As a result, the earning potential of real estate agents can vary greatly, with some earning significantly more than the median wage while others earn less.

Becoming a successful realtor requires a combination of education, hard work, and dedication. Here are some additional key factors that contribute to success in this field.

  1. Long Hours: Real estate is a demanding profession that often requires long hours. Successful realtors often work evenings, weekends, and holidays in order to accommodate their clients’ schedules. They also spend a lot of time prospecting for new clients, following up with leads, and preparing for open houses and showings.
  2. Dedication: Successful realtors are dedicated to helping their clients achieve their real estate goals, no matter what it takes. This requires a strong work ethic, excellent communication skills, and a willingness to go above and beyond for each and every client. It also requires staying up-to-date on market trends and changes, as well as continuously improving and refining your skills.
  3. Networking and Marketing: Building a strong network and brand is crucial for realtors. This involves building relationships with clients, other realtors, and industry professionals, as well as using social media and other marketing tools to reach new potential clients. You can click here to buy facebook photo likes and increase your chances of attracting organic engagement.
  4. Continuous Learning: In order to stay ahead of the competition, successful realtors are always learning and growing. This involves staying current on industry trends and changes, attending professional development courses and workshops, and reading industry publications and blogs.

Working as a real estate agent can be a challenging and rewarding career. It requires a strong work ethic, excellent communication skills, and a dedication to helping clients achieve their real estate goals. When you start getting more clients, you may consider using a commercial real estate CRM software to efficiently manage the work you need to do for each client.

It’s important to note the industry has a very high turnover rate, if you’re not a realtor, you probably know someone that is or was! Individuals come into the business with stars in their eyes and sights set on huge commissions, not recognizing the costs of working as an independent contractor, the time and effort it takes to attract clients, and the many hours spent showing home after home and in a market like today, losing deal after deal to higher and better offers.

It is difficult to determine the exact number of real estate agents who quit every year. The real estate industry is highly competitive and the turnover rate among agents can be high, with many entering and exiting the field each year.

Several factors can contribute to real estate agents quitting, including a lack of business, difficulty generating leads, a lack of support from their brokerage, or simply finding that the job is not a good fit. Other agents may leave the field to pursue other career opportunities or to retire. It is important to note that the number of real estate agents who quit each year can also be influenced by economic conditions and the state of the housing market. In a strong housing market, for example, more agents may enter the field, while in a weaker market, the number of agents may decline.

Like in any self-employed sales career, starting a career as a real estate agent requires commitment and hard work, but the rewards can be significant. From the opportunity to help people find their dream homes to the potential for financial success, there are many reasons to consider a career in real estate. So if you’re looking for a career that is both fulfilling and lucrative, consider getting your real estate license and starting a career as a real estate agent today!

Jeff Hammerberg is the Founding Broker of GayRealEstate.com. A writer, author, coach and entrepreneur, his work over the past 25 years has been instrumental in ensuring all members of the LGBTQ+ community have full, fair and honest representation in all real estate matters. GayRealEstate.com is the Nation’s largest and oldest gay real estate agent referral service in the country, with over 3500 LGBTQ+ Realtors in every city coast-to-coast.