You’ve just taken the last exam of your life. The real estate one. And you aced it! But now what? How long to get license after passing real estate exam so you can finally start working in the field and earning a commission?
The answer is: not very long at all! Once you pass your state real estate exam, you need to apply for a license within two years. The process of getting your license can take anywhere from six weeks to several months. But don’t get too ahead of yourself – first things first. Let’s take a look at the process of how long to get license after passing real estate exam in your state.
How Long to Get License After Passing Real Estate Exam
In most states, you must be at least 18 years old to apply for a real estate license. You will also need to complete a certain number of hours of pre-license education.
Once you have completed your education and passed the state licensing exam, you will be able to apply for your license.
After you finish and pass your exam, you have six months to file for your real estate license.
When you apply for your real estate license, you will need to fill out the application with your test results, pay an application fee, and submit your grades from your coursework.
In addition to getting a license, you may also be required to pass background checks.
To get your real estate agent’s license, you must apply through your home state’s Real Estate Commission.
To apply for and receive your real estate license in some states, you must first join a real estate brokerage company. Make sure to check your state’s requirements for real estate agents before beginning the process.
Real Estate License vs Real Estate Agent License
There is no official “Real Estate Agent” licensing process. Instead, real estate agents are members of the NAR, which gives them the right to use the trademarked term “realtor”.
If you refer to yourself as a “realtor,” it means you are a member of the National Association of Realtors and have a real estate license. If someone says they have a “realtor license,” it is likely shorthand for saying they have a real estate license.
There are additional certifications that agents can attain beyond their real estate license.
For example, you can earn a designation as a senior real estate specialist, a certified international property specialist, and earn a certification as a short-sale and foreclosure specialist.
How to Choose the Right Real Estate Brokerage
As a newly licensed agent, you are eager to start your career. However, before you can start selling homes, you will need to join a real estate brokerage firm.
State law requires that all real estate agents work with a real estate broker. This ensures that the agent is working under the guidance and protection of someone with more experience in the industry.
As a business owner, you are ultimately responsible for your own success.
But, you can’t go it alone. You need a broker who has the experience and knowledge to help you get successful.
The best ones have a solid reputation in your community and an established continuing education program.
Don’t get too caught up on agent/broker splits. While it may be tempting to choose the most generous option in your favor, remember that this could lead to disaster.
A brokerage firm that invests a lot in its real estate agents may demand more of your commissions. But if you’re getting more clients and more deals because of the firm’s investment, then it might be worth it.
While other agencies may require you to pay a lower percentage of your commissions, they may also give you a few perks, such as free health insurance, gym memberships, or parking. Some agencies will charge their agents for supplies such as paper, toner, and envelopes.
If you’re paying for photocopies, the costs can really add up.
The brokers’ specialties are an important factor to consider. Are they more geared towards buyers or sellers? Residential or commercial? Leasing or purchase?
If you want to work in a particular field, it makes sense to join an agency that specializes in it.
Now that you’ve got your license, it’s time to put that knowledge to good use.
Let’s talk about what you should do in your first year of real estate.
Create a Marketing Budget
Because you are self-employed, you will be responsible for all of your business needs.
You can get referrals from your brokerage, but it’s important to remember that a lot of your success will come from your ability to market and promote yourself. Make sure you budget for marketing and advertising expenses so you can continue to grow your business.
Don’t forget that you own your business, even if you’re working under a brokerage.
This means you’ll need to be focused on marketing your business at all times. Everything from your business cards to the way you dress will contribute to your marketing.
As a new real estate agent, your marketing budget should be focused on making meaningful connections with clients and other industry professionals. This can be done through networking events, social media outreach, and targeted advertising. By forging these connections, you will create a strong foundation for your business.
When creating a marketing budget, consider how you can best forge connections with clients and other industry professionals. This may mean setting aside money to join an association.
Having a good, up-to-date website is incredibly important for attracting new clients. In the digital age, many people turn to the internet even before visiting a neighborhood. Having a strong web presence can help you attract new clientele.
Make sure when customers search for homes for sale in your area, they find your homes online.
Because you’re likely bootstrapping your startup, you may not be able to afford expensive marketing campaigns. That’s fine.
Start by focusing on the few things that you can do that will bring you the most results.
- Your website – A website is a one-time cost of between $200 to $300 for design and development, plus $100 to $200 a year for hosting and $100 to $200 for maintenance. One of the best things about having a business website is the ability to rank highly in search engines.
- Your wardrobe – Instead of going out and buying a suit all at once, buy one high-quality suit per month. By the end of 12 months, you will have 12 high-quality, long-lasting, professional-looking suits. Clothes aren’t always tax-deductible, so be careful!
- Your business cards – If you print your own business cards, make sure you use high-quality paper to prevent smudges and misprints.
- Membership to the NAR – Think of it like a marketing budget because being listed as a realtor will give you more visibility than if you weren’t.
Develop an Owner Mindset
The biggest mistake that many new agents make is treating their real estate business as a hobby.
Here’s a common scenario.
For many real estate agents, it’s necessary to maintain a steady job while starting their new business. This allows them to pay their living expenses while building their business.
It’s not ideal, but it is possible to make your business a “business” if you remember to treat it like one.
Don’t just half-heartedly dip your toes in the water when it comes to your real estate business. The more time, effort, and resources you put in, the more you’ll get back. So go all in and give it your all!
You’ll need to nurture your business by working long hours but don’t expect any awards or recognition for it. You’ll need to hustle hard to get clients, but it will be worth it in the end.
Networking – The Biggest Reason to Join Organizations
The best way to increase your network of contacts is by joining professional organizations and attending their events.
If you want to succeed in the real estate market, it’s important to build relationships with people of all backgrounds, such as contractors, lawyers, and movers. By doing this, you’ll create a network of connections that can help you achieve your career goals.
You’ll be surprised by how many referral opportunities you can gain through connections.
Here are a few ways to build your network:
- Host or attend open houses
- Join local business groups
- Invite colleagues out for coffee or lunch
- Attend local or regional meetings
Create Personal Connections With Clients
You’ve got to focus on two things: maintaining relationships with your past clients and developing new ones. You can do this by staying in touch with them, being available when they need you, and providing them with valuable information.
The best way to make your former clients happy is to go above and beyond. You can do this by sending them a handwritten note, an email, or even picking up the phone and giving them a call.
Whatever you do, make sure you’re staying top of mind so they remember how great it was to work with you – and so they come back to you the next time they need help.
If you’re looking to become a licensed real estate agent, the process is relatively simple. Once you pass your state real estate exam, you need to apply for a license within two years. How long to get license after passing real estate exam? The process of getting your license can take anywhere from six weeks to several months. But once you’re officially licensed, you’ll be able to start working in the field and earning commission!