If you’re anything like me, you probably spent last summer binge-watching Selling Sunset, the Netflix reality show that follows the high-end real estate brokerage firm the Oppenheim Group. Read more about kingdom valley islamabad official website.
The show makes the life of a real estate agent look glamorous — and it can be. With flexible hours and high earning potential, the life of a real estate agent can be both freeing and massively rewarding.
But before you quit your job to become a cast member on Selling Sunset, you should know becoming a real estate agent is hard work.
Here, we’ll explore what it takes to become a real estate agent, how long it takes, how much it costs, and whether it’s the right fit for you.
Already a real estate agent? Keep reading. We’ll also explore tips for becoming a successful real estate agent repcalgaryhomes from experts in the field. (Feel free to jump ahead to that section if you’re already an agent.)
Let’s dive in.
How long does it take to become a real estate agent?
The time it takes to get your real estate license depends on your state’s requirements. Typically, obtaining a real estate license includes between 60 to 90 hours of formal education, plus studying and sitting for the licensing exam.
This means it can take anywhere from three to six months to become a licensed agent.
Once you have your license, most states require you to find a real estate broker who will sponsor your first two to three years as an agent.
Of course, the trainings you’re required to complete depends on the brokerage you join, as well as the state requirements — for instance, you might choose a national franchise, local or boutique brokerage, or even a virtual brokerage for your first real-world experience.
The time it takes to train and get you up-to-speed before becoming a fully independent agent depends on which brokerage you choose, but you’ll want to plan on spending at least six months to a year in a training program.
So, how long does it take? TLDR — likely at least one to three years.
How much does it cost to become a real estate agent?
Once you’re committed to becoming an agent, you’re probably wondering how much money you’ll need to save to get started.
The costs of becoming a licensed real estate agent vary by state, as well as which education course you choose, but you can expect to spend anywhere from $500 to $1,200 total. That includes your education course, license application fees, fingerprinting and background check fees, as well as state licensing exam fees.
However, you’ll likely need to rely on your savings until you’ve closed your first deal if you’re working for a brokerage that works off commission. To play it safe, you’ll want to plan on having enough savings to fall back on for six months to a year, until you’ve established yourself as an agent and are closing enough deals to make a living.
One alternative would be to look for a brokerage that pays a salary rather than commission, or consider getting a side gig until you feel comfortable with the money you’re making from real estate.
Why should I become a real estate agent?
There are plenty of reasons you might want to consider a career in real estate. One of the biggest is flexibility — real estate isn’t a 9-to-5 office gig. You’ll create your own schedule.
I spoke with Tessa Sims, CEO at KW Real Estate Schools, Inc., to learn her take on the benefits of becoming a real estate agent.
She told me, “A career in real estate is such a desirable choice for so many people, perhaps because of its flexibility. You can work from home or from an office. You can fly solo or be part of a team. You can work for others or have others work for you. You can create a schedule that fits your lifestyle, and choose both your clients and your niche. You can make a decent living or build an extremely profitable business. The possibilities are endless.”
Of course, to find success as a real estate agent, you’ll want to ensure you’re available to conduct showings during peak hours, such as nights and weekends. But if you want to take a week off for vacation, or spend mornings dropping your kids off at school, that’s entirely up to you.
However, as Rich Cawley, President of Massachusetts-based real estate brokerage United Multi Family, tells me, it’s important to understand that the flexibility of the job doesn’t mean it’s less hours than a traditional 9-to-5.
As Cawley puts it, “There are good pay-offs, and it can be a lucrative career, but the good agents I know are always available for their clients. Especially with all the technology we have now, whether client’s want to be reached via text or phone, real estate agents are never truly off-duty.”