Requirements to Become a Real Estate Agent
A real estate agent is an individual who helps one, either to buy a home or stay as a tenant. He even assists people who need to lease their apartment or house, for other people to live in. Estate agents have knowledge about residential areas that are always in demand for residency, and the cost of living in those areas too.
A person needs to have some prerequisites before entering the field. He needs to be strong in general knowledge, well aware of the market situations, acquainted with the real estate field, and have strong convincing skills to win the deal. He also needs to be business-minded, as there is a very tough competition between other experienced agents in the same sector.
The invention of telecommunications and Internet technology has proven to be very beneficial to the real estate agent field. It enables the agents to easily obtain information about estates and properties, to contribute to their businesses. They have a large database of information about houses, flats, bungalows, land, properties, etc. which are to be rented out or sold.
If a client wants to buy or sell a property, he approaches the agent, who then with the knowledge and information helps him to choose the right property or choose the right customer, according to his requirements. The responsibilities include showing properties, providing information about estates, sorting out properties for sale, meeting potential customers, or studying the real estate agent market. They may be required to work for more than 40 hours per week, either in-office or on the field.
A potential candidate would need to have friendly behavior, problem-solving capabilities, a confident personality, and organizational skills. However, only these requirements are not sufficient to become a realtor. One obligatorily needs to be licensed from the respective state, where he would be working.
Preparing and submitting attractive resumes won’t do much to show your skills. Each state in the US has different requirements for one to become a licensed realty agent. First of all, you need to own a high school diploma and be over 18 years of age. If there are any criminal records and reports against you, it can be very hard for you to get a license.
You need to undertake a pre-licensing course from any real estate agent school, which would lead you to obtain a license. In a majority of the states, it is compulsory to attend classes first, one just can’t skip them and take the exams directly. The coursework will teach you about several sections of the real estate agent field; such as legal, financial, property appraisals, and real estate agent moral philosophy. After thorough preparation, you can take the exam.
You would need to utilize your ‘math’ and ‘stats’ skills for the financial, and property appraisals section, and creative and logical thinking for the legal and ethics section. The course fees may depend upon the school and state which you’re taking the course from.
In a majority of states, you are required to have an agreement with a broker, before you take the exam. After you successfully complete the test and obtain the license, you are supposed to send your license to the broker and complete all the contract formalities, as you are not allowed to start your work independently. A ‘broker’ is an entity, whom you’d be working under, so you need to find one whom you are fine in working with. It’s recommended that you at least consult with three brokers from different companies for the contract.
These are the steps that will help you become a real estate agent. But if you truly need to be strong and well-known in the realty market, you need to have a state license, know all legal rules, regulation and formalities; and also have the much-needed experience in the same field.