Not yet licensed?
No worries! Here’s a quick overview of the step-by-step process.
WHAT TO EXPECT
Pre-license education and exam. You can take your classes online or in person. There are a lot of places that offer them, we love Kaplan. I highly recommend taking the first class in person, even if you plan to take the rest online. This is about $1000 when you’re all said and done (classes + tests).
Joining the Realtor Association and getting MLS access. The Realtor Associations are essentially the gatekeepers to your MLS access and offer some really great training courses and continuing education. Once a member, you will also have to pay quarterly dues (~$120 per quarter). Here’s their website!
Learning curve and getting your client base built up. This is the biggest transition for people coming into real estate from a regular 9-5. Your paycheck isn’t guaranteed simply by showing up, which means you’ll have to put in the effort to market yourself, learn new technologies, meet with people, and build up your confidence. This time frame varies from person to person, but most agents have their first closing in the first 1-6 months, with the majority landing somewhere in the 3 month range. Selling 1 house will pay for all of your pre-license expenses.
Continuing education. Keeping your license active will require a set amount of continuing education credits per year.
Business expenses. Even though agents work for a company, they are all their own little businesses. As such, you’ll need to track your deductible business expenses like mileage, meals, education, etc. A great bookkeeper/accountant is a worthwhile investment once you get busy, but you might be able to get away with a spreadsheet in the beginning.
If you’ve made it this far and still want to chat about
getting your real estate license and what working for Brick & Banister Real Estate Co.
might be like, click the button below to head to the next step.
Properties are provided courtesy of the Regional MLS of Minnesota, Inc., Broker Reciprocity Database.
Information Deemed Reliable But Not Guaranteed. ©2018 Regional Multiple Listing Service of Minnesota, inc. All rights reserved.