Requirements to Become a Realtor

What attracts so many individuals to a career in real estate is the advantage it seems to offer in terms of being able to set one's own hours and bring in as much money as they're willing to work for. Some like real estate for the vicarious aspect of being able to see how other people live or the challenge of "dressing up" a property to increase its appeal. The downside, however, is that a job in real estate is subject to both the whims of a fluctuating economy and the sometimes cutthroat tactics of the competition.

Personal Attributes

In order to be a realtor in the United States, you'll need to be at least 18 years of age, have a valid driver's license, be able to write and speak English, and be in good health (in order to maintain the energy necessary to keep up with your clients). While it's not necessary to speak a foreign language, you may want to consider it if you live in a region where there's a likelihood of encountering clients who feel more comfortable speaking in their native tongue (i.e., Spanish, Chinese, Vietnamese). You'll need to be well groomed, have an attractive wardrobe, and drive a clean, reliable and mechanically sound vehicle for chauffering clients from one address to another. In addition, you'll want to take into consideration that many of your clients may only be able to view a property after 5 p.m. during the week or on Saturdays and Sundays; if you have a family, you may not see as much of them as you'd like to. Last, but not least, the ebb and flow of a salary based on commission can make it very tough on your household finances, especially if you are single or are the primary breadwinner. An ability to budget wisely-or a supportive partner whose own job brings in enough to manage the bills-is essential.

Scoping Out the Territory

Before you sign up for real estate school, you may want to do some preliminary sleuthing to see if you could have a sustainable career where you are without needing to move. Cities and suburbs, for example, are probably going to have more turnaround in home ownership than a rural environment where properties have been in the same families since the Civil War and aren't likely to be handed off to strangers any time soon. Likewise, investigate how many real estate companies exist in your locale and whether they are a national franchise with a lot of employees or strictly a one-person operation that doesn't want or need any assistance. This is also a good time for you to figure out what you want your territory to be. Since you're the one who is going to be buying gas, putting the bulk of miles on your car, and keeping it properly maintained, you'll probably want to start out within a small city radius rather than trying to handle an entire county.

Getting Licensed

Every state in the U.S. has different rules and regulations regarding how many hours of real estate school you'll need to accrue before you're eligible to take your realtor's exam. If you're already holding down a full-time job but hoping to transition to real estate as your next career, you may want to look into the convenience of taking some of your coursework online. Once you have acquired enough credits, the purpose of the exam is to determine whether you have a thorough understanding of the terms, processes and ethics involved in the business of assisting buyers and sellers with their real estate needs. If you're nervous about test-taking or apprehensive about what to expect, websites such as CompuCram and Realty U (see URL's at end of article) provide practice exams and advice. When you have successfully passed the state exam, you are then eligible to apply for your real estate license. Once it is issued, you'll be able to be hired by a real estate agency and start working. In most states, your license is valid for two years and must be renewed, usually upon the condition of successful completion of continuing education classes.

Staying Abreast of Trends

As a realtor, you are required to do a lot of outside reading. Not only is it important that you stay on top of what's going on in your own community but also that you be aware of what's going on in the housing and construction industries across the U.S. The National Association of Realtors, for example, has an excellent website as well as monthly newsletters to keep its members apprised of new developments. In addition, there will be ongoing seminars and workshops that you'll need to attend in order to hone your craft and become a more productive agent.

Networking

Real estate is definitely an arena for "social animals" and, to be successful, you'll be required to pay annual dues and join regional and state associations. Many of these are for the purpose of information-sharing as well as bestowing honors on select members who have exceeded their quotas and done a stellar job in representing the interests of the agencies they work for. If you don't love sales and have a zealously competitive spirit, you're just not going to be happy as a realtor because, frankly, competition is what it's all about. Agencies measure the value of their agents by how much business they're able to bring in. Clients, in turn, often make their decisions about which agent should assist them on the basis of the agent's reputation and referrals they've gotten from satisfied customers.

Resources

• National Association of Realtors
• CompuCram
• Realty U