Real Estate Sales Requirements

Many real estate agents operate as independent contractors.

The requirements to become a real estate agent vary by state, but the general education and licensing requirements are within range across the country. As more and more people become interested in investing in property, the opportunities for real estate agents will continue to grow. However, although becoming a real estate agent is relatively easy, competition is fierce and you must be ambitious to find success.

Education

The minimum education requirement for real estate agents is a high school diploma. However, according to the U.S. Bureau of Labor Statistics, agencies are leaning toward hiring those with bachelor's degrees or at least some college education. Many community colleges, universities and independent real estate schools offer certificate programs in real estate, while some offer associate and bachelor's degrees. In addition, classes in business, economics, marketing, accounting and law are helpful for those interested in a career in real estate.

Licensure

To obtain a basic real estate license, you must complete between 30 to 90 hours of classroom instruction, depending on your state's requirements. You also must complete a written examination, which contains questions on basic real estate transactions and laws specific to your state. Most states require real estate sales licenses to be renewed every one to two years, and oftentimes renewal requires a certain number of hours of continuing education.

Characteristics

In addition to the legal requirements, to be successful, real estate agents must be trustworthy, enthusiastic and enjoy working with people. A real estate agent should be organized and detail oriented, with a good working knowledge of the local geography and each of the surrounding neighborhoods. Real estate agents must be at least 18 years old.

Considerations

The U.S. Bureau of Labor Statistics predicts job growth of 14 percent for real estate salespeople and brokers between the years of 2008 and 2018. Although new real estate agents will have to compete with agents who have already established themselves, many real estate agents are older and will likely transfer into other occupations or retire. Real estate agents also face competition from real estate websites. To be successful, a real estate agent must be well-trained and ambitious.

References

• U.S. Bureau of Labor Statistics: Real Estate Brokers and Sales Agents