Frequently Asked Questions About Becoming a Real Estate Agent
So you’re looking to become a real estate agent. It’s an exciting, fulfilling, and lucrative career path, but of course you have questions. After all, this is a big life change and you want to know what you’re getting yourself into.
We have you covered! Here are some frequently asked questions people have when planning to get into real estate.
What is A Real Estate Agent?
A real estate agent is a licensed professional that assists and represents buyers, sellers, and renters, providing guidance and representation when a client is buying or selling a house. They organize and submit the proper documentation on behalf of the client, and facilitate negotiations, ensuring their clients get the best deals possible.
They are not the same as a real estate broker, who would be more focused on the business and staff management aspect, overseeing and facilitating transactions, everyday operations, drafting contracts, and communicating with government agencies and housing associations.
Real estate agents are also somewhat different from a Realtor, in that Realtors are members of the National Association of Realtors (NAR). Their duties can also extend to property management, home appraisals, and real estate broking.
Is It A Difficult Process to Get My License?
Thankfully no! Depending on your personal schedule, the entire process of getting your real estate license can take a couple of months to maybe half a year to complete. You’ll have to take a 40-hour real estate course, fill out some paperwork, take the final test, and then boom! Your new real estate license will be issued!
How Often do I Have to Renew My License?
Your license is good for two years, so every two years from your birthday, you must have completed a 12-hour continuing education requirement to keep your license active. You cannot work as a real estate agent with an inactive license.
If I Move States, is My Massachusetts Real Estate License Still Valid?
It entirely depends on which state you move to. Lucky for you, in eleven states (Connecticut, Rhode Island, West Virginia, Nebraska, Iowa, Tennessee, Mississippi, Colorado, Georgia, Pennsylvania and New Mexico) Massachusetts has reciprocity. This is the recognition of a license in one state by another and means retaking the real estate class or test is unnecessary.
In these cases you only need to pay a small application fee and submit a record of your license history for full practicing privileges in your new home state. This grants you a reciprocal license. In these states, estate can continue to be your primary occupation without the hassle of having to retake licensing classes and tests.
If you move to any of the other 38 states, you will most likely have to either retake the course to meet with the state’s requirements, or apply for an Education Waiver. Requirements can vary by state, so be sure to do your research if you intend to move.
Feel ready for your exciting journey into the world of real estate? Book one of our courses and get started on your new career!