So you want to get a license and become an agent? That’s awesome! Real estate is a dynamic career with plenty of opportunities to grow. The process, however, can be a little complicated.
States have different licensing requirements, but the general process remains the same across the board. In this blog post, you’ll find everything you need to know about how to get a real estate license in VanEd.
From initial research and education to the test-taking and licensing process, we’ve covered you with all the details you need. Let’s dive in!
What Is A Real Estate License?
A real estate license is an official document granting someone permission to work as a real estate agent. It is a necessary component of being a real estate agent and is required in every state in the US.
The real estate license is usually issued by a state-level government agency, although some states contract the licensing out to third parties. Being a real estate agent is a two-way street. On one side, you have the seller who hires you to sell their home.
On the other side, you have the buyer who hires you to find them a new home. To become a real estate agent, you must get a real estate license. Your license also comes with other benefits, like access to Continuing Education (CE) courses to keep your license current.
How To Get A Real Estate License
First and foremost, you need to make sure you’re pursuing the right type of license. There are three types of real estate licenses, each of which comes with its own requirements.
Before you even start the process, you need to nail down whether you want to get a salesperson license or a broker license. Once you’ve decided on what type of license you’d like to pursue, it’s time to start the actual work.
As a prospective agent, you have three options to get your license: First, you could work as an agent while studying for the exam. This is a great way to save time, but finding an agent willing to take you on can be challenging.
Second, you can work as a non-real estate agent while you study for the exam. This is a good option if you want to get your foot in the door with a company but still take the exam later.
Third, you can get a degree in real estate and then take the state exam. This is the fastest and most efficient route but comes with the highest upfront cost.
Which Type of Real Estate License Should You Get?
The first decision you must make when getting your license is which one you will get. To keep things simple, we’ve broken down the three options below.
Salesperson License – A salesperson license is the most basic type of license. You have to have a high school diploma and go through a state-approved course. You need this license to become a real estate agent, but you don’t want to become a broker later on.
Broker License – A broker license is a next step up. With this license, you have to have a college degree, and you have to have at least two years of salesperson experience. This is the license you want if you want to be able to hire agents and expand your business.
Board of Realtor License – Finally, there’s the Board of Realtor license. This is the highest license level and the only one that qualifies you to be a real estate broker. You need a college degree and five years of experience.
The Pre-Licensing Process
Now that you know which type of license to pursue, it’s time to get started on the pre-licensing process. This is a step-by-step guide to all the tasks you need to do before starting the licensing process.
Finding a School – When it comes to getting your license, you first need to find a school you’re comfortable with. Real estate schools come in all shapes and sizes, and while they all teach you the necessary skills to pass the licensing exam, they offer a wide range of other services that can make your path to a license easier or harder.
As you’re looking for a school, you must ensure you’re getting the correct type of license. Be sure to ask each school you visit about their track record with the state licensing authority.
Taking the Right Courses – Next, you must take suitable courses. With the salesperson license, you only need to take one course, but with the broker license, you need to take at least two. You must ensure your state’s licensing authority approves the course you sign up for.
The state will tell you which courses you need to take, so be sure to do your research beforehand. Choosing the Right Partner – You need to find the right partner. This isn’t a romantic partner; it’s a reference to verify your experience. If you’ve got experience as a real estate agent, you can just use that as your partner.
If you don’t, you need to find a partner who’s been in the industry for at least two years. Your partner must submit a written reference letter to the state licensing authority verifying your experience.
Test Taking Strategies
Now that you’ve finished your pre-licensing requirements, it’s time to start preparing for the state exam. Thankfully, once you’ve passed your licensing requirements, you have a year to take and pass the exam. With that in mind, here are a few tips to help you pass the state exam as quickly and efficiently as possible: Build A Solid Study Schedule – The first thing you need to do is build a solid study schedule. We recommend studying for at least eight weeks, but many agents like to study for as long as a year. It all depends on your timetable.
Use A Test-Taking Strategy – Next, you must use a test-taking strategy. There are plenty of study techniques, but we recommend the RAID method. It’s simple: Read the question carefully. Answer the most straightforward question first. Mark your answer. Identify your mistake and why you were wrong. Review the question.
Take Practice Exams – Finally, you need to take practice exams. This is the best way to make sure you’re studying effectively, and it’s the best way to identify your mistakes and learn from them. You must try to simulate the actual exam as closely as possible when taking practice exams. That means studying in a quiet, distraction-free space and taking enough time to finish each section.
Wrapping Things Up
Getting your real estate license is an exciting and empowering experience. Becoming a real estate agent can give you a sense of freedom and flexibility you might not have experienced in a long time. You’ll have to put in some time and effort, but it will be worth it when you can make your schedule and earn a high income.
Now that you know what a real estate license is, how to get it, and which type of one to get, it’s time to start your real estate career. Now is the perfect time for you to pursue your real estate license!
