Requirements for Being a Real Estate Agent
A real estate agent facilitates transactions between buyers and sellers of real estate, or property owners and tenants. Real estate agents are licensed professionals, regulated by the real estate department in the state in which they do business. Licenses are subject to renewal and termination.
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Considerations
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Real estate laws vary by state, as do the licensing requirements for real estate agents. Yet, the process is similar throughout the United States. In each state, the applying licensee must pass two final real estate exams, a state exam and federal exam. Each state has its own set of state exams, specific to that state's real estate laws. Yet, the federal exams are the same for all applicants throughout the United States. Testing centers, approved by the state's real estate department, administer the tests. If the applicant fails one test, yet passes another, she can return to re-take the failed test, for an additional fee.
Features
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Before applying for a real estate license, the applicant must have a high school diploma or equivalency and be at least 18 years of age. Real estate departments expect applicants to be people of character, competency, honesty and truthfulness, which is why they normally require a background check prior to licensing.
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Process
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To be eligible for a license, the applicant completes a real estate course (between 30 to 90 hours) approved by the real estate department, passes the course's final exam, and passes both the state and federal exams. Applicants submit to a background check, which normally requires fingerprinting. After completing the necessary requirements, the applicant completes and submits an application to the state's real estate department and pays a fee.
Warning
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An applicant with a criminal record risks the possibility of the real estate department rejecting the licensing application. If convicted of a crime after obtaining a license, a real estate agent can lose his license.
Time Frame
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Real estate agents renew their licenses, such as once a year or every two years. Before qualifying for renewal, they complete a specific number of real estate renewal courses, as mandated by their state's real estate department.
Benefits
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Certain skills or traits make it easier for an applicant to complete the process and obtain a real estate license. These beneficial traits include being literate, understanding percentages and basic math concepts and the ability to use a calculator. Being a self-starter, computer literate and having good communication skills will help a real estate agent succeed in her field.
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References
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