How much does it usually cost to get a real estate license?
Posted on February 4th, 2010 in Renting & Real Estate | 6 Comments »
T the D asked:
I live in Tampa Florida and am looking into a career change. Does anyone have an idea how much it costs to get a license to sell real estate?
Thanks!
6 Responses
Laser Hair Removal New York
I am wondering the same thing. (Yay now I don’t have to waste 5 points asking a question…I’ll just check your answers
)
San Francisco Cosmetic Dentist
Usually you can just go to the State Licensing Board, they will give the cost of the license and the required amount of credit hours needed. You can then look for approved classes. In Kentucky they are about $2000 for the course, which usually is 60 hours or so. Its a good career so have fun!
Mar Vista Real Estate
The cost varies by state. Here in Wisconsin, the courses required to obtain a real estate license are offered by various local technical colleges, and only run about $300 if taken in that manner. The courses are also available online (homestudy type thing). License exam is about $100, license itself about $50. Then you join a brokerage and get to spend quite a few more dollars for MLS fees, E&O insurance and other requirements.
Go for it ! I did years ago, and have never looked back !
San Diego Foreclosures
Here is the website for real estate information in Florida….
Don’t forget that once you get your license there are other fees to start your career like office fees, desk fees,telephone fees,copy fees, internet access fees, transaction fees (if done inhouse),……..marketing and advertising fees, etc.
Vancouver Washington Real Estate
first cost is the cost to take the approved class, check around this should be your biggest cost
the exam it self should be relatively low in price
next will be the fees payable for your licensee, including the state licens fee, then fees for your local association to belong to the mls, access to the mls is not cheap
Thermage Under Eye Bags
It is not cheap anymore and every state is different.
You have the cost of the classes, the exam (and many times you need to take it over and over to pass), the actual license, and then since you are an agent only you need to get set up with a broker (he is your boss) and they require money from you. The Broker will tell you how much it will cost you monthly to hang your license in his office. You have fees for office space, phone calls, copying, postage, and the like. This comes to a monthly fee. Then when you sell something the percentage is usually split four ways: listing agent, selling agent, listing broker, selling broker. And sometimes the advertising comes out of this money too (your split). So that 6% can give you 1.5% at best.
Real Estate is no longer a get rich quick job. It is hard work. You will spend your days cold calling and mailing fliers to get listings and find buyers. When you get a listing you must make sure it sells (30-60 days) or all your efford is lost. You only make money when it sells and the owner is only happy when it sells. That is not always the case. Many times you get listings and lose the listings just as fast. If you do not sell the property in a decent timeframe the owner pulls it and offers it to another agent. Sometimes it is a vicious circle and you are not getting paid for your long hours. You need lots of contacts to sell and it can take years.
As a Broker, I tell an agent not to expect to make money for first year or two. You must have money to survive at least that long. And with a slow market you may only make a few sales the whole year. This is not a get rich fast job. It is advisable an agent stays in his current job until he can get his feet wet and build up a portfolio of repeat customers. That is the backbone of this job.
Also when you get your license, you interview Brokers to see who you want to work for. The broker also interviews you. If you are a risk they will not hire you. Many times they do not hire new agents either. They make more money with the skilled agents with a track record. They do not want to train you. You will find that no one wants to train you. The license just gives you the right to sell under a broker but it gives you no training. You must have training in this line of work or you can make critical mistakes. Your license is always at risk, you can lose it fast.
Research this and see if you can really afford to do this line of work.