The US real estate industry is growing each year. Are you interested to know how to get started as a real estate agent in your state? Check out this guide
The real estate industry in the United States is projected to grow by more than 3% in the next few years. Many people are seeing the rewards and benefits of entering the market as a real estate agent. There is a lot of potential in terms of personal and professional improvement in this career path.
Becoming a real estate agent is no easy feat. It takes determination and commitment if you want to be on par with the top performers in the industry. You will also need patience and a lot of effort when it comes to marketing your brand and following leads. But if you keep improving your craft, you will reap positive results.
So, what should be your first move?
If you have no idea where to begin, don’t worry—we got you covered! In this article, Mortgage Professional America will shed light on how to get started as a real estate agent in the US. We will cover related topics such as the steps to becoming a real estate agent and why should you go for this profession. We will also discuss how to generate income while starting out as a real estate agent as well as what to expect on your first month if you become one.
What are the steps on how to get started as a real estate agent?
The qualifications and process on how to get started as a real estate agent in the country vary from one state to another. Here’s a general overview of the steps that you should take if you plan to become a real estate agent:
- review the requirements of your state
- earn a high school diploma or GED
- take the real estate licensing exam
- earn a real estate license
- seek entry-level real estate jobs
- join a real estate brokerage firm
Let us go in-depth with each step on how to get started as a real estate agent:
1. Review the requirements of your state
There is no national real estate license, so you need to follow the regulations of the state where you want to work as an agent. Each state can have different criteria for real estate agents in terms of:
- educational requirements
- pre-licensing courses
- application process and fees
- background and criminal history checks
2. Earn a high school diploma or GED
The educational requirements are different for every state. For instance, aspiring real estate agents in Georgia must earn a high school diploma or GED to be eligible for licensure.
Once you decide to get started as a real estate agent, it is important that you understand the fundamentals of business and sales. With this, you can consider taking courses to help you grow your skills. These may include courses in:
- marketing and sales
- mathematics
- economics
- statistics
As you earn certifications in these courses, you might also want to search for real estate programs that can help you prepare for the real estate licensing exam.
3. Take the real estate licensing exam
After getting the required diploma, you must take and pass the real estate licensing exam to get your license. Examinations in all states are computerized. You can look for the contents online and find out what to bring and expect during the test.
If you wish to pass the real estate licensing exam on your first try, watch this video about what topics to focus on:
Check out this article to find out how to get into real estate.
4. Earn a real estate license
The next step on how to get started as a real estate agent is to earn a license. Once you complete and pass the licensing exam, you can then apply to your state to receive your license.
Look for real estate associations that offer licensing programs. These programs will provide you with information on the fundamentals of the US real estate industry. This includes:
- state regulations
- Code of Ethics training
- selling techniques
Do you want to get started as a real estate agent in any of the following four states? Find out how to get your real estate license in:
5. Seek entry-level real estate jobs
Once you get your license as a real estate agent, the next step is to seek entry-level real estate jobs where you can gain experience. To search for entry-level real estate positions, research online and see job boards on real estate agency websites.
6. Join a real estate brokerage firm
Finally, joining a real estate brokerage firm is a smart move when you are just getting started in your career. As a new real estate agent, you will be under the supervision of a seasoned agent that will help you familiarize yourself with your new role.
Become a realtor
You might also want to become a realtor. While many people use the terms real estate agent and realtor interchangeably, they are not exactly the same.
Both professions are required to be licensed to work but realtors are members of the National Association of Realtors (NAR). They also adhere to the NAR’s Code of Ethics. Watch this video on why you should be a member of NAR:
Why should you become a real estate agent?
Here are some of the reasons why you should become a real estate agent:
Flexibility
One of the main reasons why you should become a real estate agent is the flexibility it offers. You can decide to work part-time or full-time. Plus, you can also set your own work hours.
Good compensation
The average salary of a real estate agent in the US is around $46,000, according to NAR. It can even go as high as around $58,000. This is another reason why getting started as a real estate agent is a good decision, especially in terms of monetary benefits.
Personal growth
In this profession, you have many opportunities to develop valuable skills in negotiation, marketing, and client service. You can use these skills when you apply them in other areas of your personal life.
You can also acquire greater financial literacy as you learn about property values and market trends. As for your sense of purpose, you will surely experience satisfaction when you see your clients find their dream homes with your help.
Is it hard starting out as a real estate agent?
Like any other profession, starting out as a real estate agent can be difficult. However, with perseverance and commitment, you can succeed in this career and turn it into a lucrative one.
How do you make money starting out as a real estate agent?
If you want to make money once you get started as a real estate agent, you have to acknowledge the fact that it is not instant. You need to be patient and hone your craft.
Here are some of the things that you can do to generate income as a real estate agent:
- build a network of good connections
- collaborate with seasoned real estate agents
- focus on a niche market and identify your target leads
- optimize listings and list properties on multiple platforms
- take advantage of free workshops and seminars
- invest in marketing tools, especially online advertising
- contact potential leads in your area
- leverage online tools and social media
Online tools are widely available for real estate agents who want to maximize their social media presence. Learn how real estate agents can use social media to boost marketing when you read this article.
You can also host open houses to attract clients. This will not only let you showcase properties but also help you meet potential buyers who will attend. Finally, you need to stay up to date with the latest trends in the real estate market. Make sure that you are well informed when it comes to state regulations.
What to expect during your first month as a real estate agent
During your first month as a real estate agent, you can expect a combination of training and onboarding processes as you familiarize yourself with the local market. This is also a time for you to set up and build your brand. Make an effort in networking with other real estate agents and be open minded whenever they give advice.
You might also want to seek a mentor to guide you through the initial challenges while getting comfortable with your new job. To know more about what to do on your first 30 days as a new real estate agent, watch this video:
Our Best in Mortgage page contains the top names in the industry – any one of them could be a mentor!
Getting started as a real estate agent
Now that you know how to get started as a real estate agent, you can decide whether this profession is for you. While the process can take some time and money, the anticipation of having a rewarding career that provides stability and growth will make your efforts worthwhile.
If you already have a stable job and want to earn a little extra, you can choose to work part time as a real estate agent. However, it is more likely for you to join the top performing agents in the industry if you make it a full-time profession.
Overall, the key to making it big as a real estate agent is full dedication. You should also be open to continuous learning even from professionals in related fields. All it takes is knowing what is expected of you and navigating the various steps listed above.
Did you find this guide on how to get started as a real estate agent useful? What part of the profession are you most looking forward to? Let us know in the comment section below
