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The real estate industry is in high demand and the housing market is one that remains active, favoring sellers according to most experts. If you’ve been thinking about a career change, real estate can be an exciting and rewarding career. When you get a real estate scholarship you can then start taking the steps to become a fully licensed real estate agent. However, one of the first things you should do is review the common tasks a real estate agent does to see if it’s a good fit for your career goals.
What a Real Estate Agent Does
As a real estate agent, you help your clients in many key areas of buying and selling property. Your duties can be quite diverse and include:If you’ve been thinking about a career change, real estate can be an exciting and rewarding career. When you get a real estate scholarship you can then start taking the steps to become a fully licensed real estate agent.Click To Tweet
- Performing market research in the general area to get accurate prices for buying and selling.
- Marketing a property for sale in print and online.
- Inspecting properties to verify the condition of the property.
- Appraising property and reviewing related documentation.
- Price negotiation for both selling and purchasing a property.
- Reviewing and assisting with the pre-approval process.
- Negotiating on financial matters such as repair costs and offers when selling a property.
- Reviewing any buyer’s finances and related progress.
Responsibilities of a Real Estate Agent
A real estate agent assists clients in the acquisition, rental, or sale of real estate. They give market information, walkthroughs, and direction and help customers during the purchasing, selling, or leasing of their properties. The real estate agent needs to be aware of every recent change in the real estate market and needs to inform their clients about risky moves and advise them. The services of the real estate agent are important to their clients as they rely on the agent’s knowledge of the market and trust their advice.
For all of this to be ensured, the agent needs to be extremely fluent in real estate and how the market works. They need to keep up with the global and the local economy to always be aware of the realistic charges and prices of the real estate market. And when it comes to charging clients for their services, the agent needs to be reasonable with their pricing but not underestimate their own work. After all, the real estate market is a complex place, and real estate agents need to know everything about it.
How To Get a Real Estate License
- Understand the Requirements: every state has different licensing requirements and the number of required classes for licensing can vary greatly. For example, Alaska requires 40 hours of classes while Indiana requires 90. Knowing how many pre-licensing classes you need to take allows you to be properly repaired.
- Take The Proper Courses: there are many options for taking the required courses to become a real estate agent. These can include traditional in-person learning, at-home classes, and classes taken online. Once you conclude which choice works best for you the next step is researching and finding a reputable school.
- Take and Pass The Real Estate Licensing Exam: once you have received the proper education you can then schedule when to take the licensing exam. Every state schedules the exams at different times and most use third-party testing services. Be sure to schedule in advance as some states require background checks and the testing application can take time to process. Commonly, the test itself is divided into two parts. Part one is on general real estate terms, concepts, and broader real estate laws. Part two is composed of questions about laws specific to the state you live in. Do note that it can be hard to pass the test on the first try. For example, in Florida, the pass rate for first-time test takers is 50%. Luckily, you can retake the test within two years before you have to retake the pre-license courses.
- Activating Your License: once you pass the test itself you still have to activate your license and register it with the state you live in. Once paying the proper fee and filling out the right form you will be officially registered to work as a realtor.
Becoming a real estate agent can be a rewarding, diverse, and varied career. It does take proper research and work to even enter the industry, and you want to be prepared. By taking your classes seriously, studying hard, and taking practice tests, you can be best prepared for the final licensing exam. Also, it is important not to let setbacks get you down. The real estate licensing exam is challenging and many applicants do not pass on their first try. If you do not pass the test the first time you take it do not be discouraged. Before trying again, you should step back, review the material you had difficulties with, and try again. Staying positive and determined are keys not just to getting licensed but also succeeding in the industry.