| The process of becoming a real estate agent is fairly simple, although it does vary a lot from state to state. Here are the fundamentals of becoming a real estate agent.|
a) License Requirements
Each state has different licensing laws, so you will need to look at your local requirements. However, in general you will have to:
-Meet an age requirement
-Pass a background check
-Complete approved real estate courses from a state-approved school
-Pass a state exam
-Complete an application form
-Submit various fees
Agents just getting their license work for a real estate broker. If you decide at some point to work for yourself, you will need to earn a broker license. Most new agents sign on with one of the large company brokerages. Most successful agents, even if not self-employed, treat the real estate profession as their own business, instead of just a job. This attitude will go a long way to ensuring your success.
b) What is a REALTOR®?
Many people are confused about the difference between a real estate agent and a REALTOR®.
A real estate agent becomes a REALTOR® when he or she pays an annual fee to the National Association of REALTORS® and subscribes to its Code of Ethics. The agent joins through the local (city) board or association. Membership in the REALTORS® is optional, but help enhance your career.
c) How much can a real estate agent earn?
Real estate agents more often than not are paid on commission. This commission is a percent of the selling price of the property. The seller will generally pay 4-6% of the sales price as the fee for having an agent handle the complex job of selling their property. The funds will often be split equally between the seller's broker and broker who finds the buyer.
As an example, if the fee for a $300,000 property is 6%, the buyer's broker will be paid 3% or $9000 and the seller's broker will also be paid 3% or $9000. The agent is paid by his or her broker, using their agreed-upon commission split. This is often 50-50 for new agents, so in that case the agent in our example would be paid $4500.
So to answer the question, the amount that a real estate agent can earn is only limited by the number of transactions that he or she can close.
Visit Real-Estate-Career-Info.com for requirements for obtaining a real estate license in your state.
This article may be reprinted if proper credit is given and all links left intact.
About the Author
Andre McFayden, Ph.D., is a Real Estate Broker and contributor to Real-Estate-Career-Info.com.
Management Skills: Positive Reinforcement in the Workplace
Most people just want to be appreciated. If you're a manager, that's something to seriously think about as you set the tone for maximum productivity. Ever work for someone who preferred a 'bullying and intimidation' managerial style? This type...
Corporate Coaching and Employees: One Step Ahead
"Don’t shoot…. We’re on the same side.” Contrary to popular belief, a corporate coaching session with your employees is not the beginning of the change process. Our studies and consulting indicate that, 90% of the time, employees already have a...
Boost Your Education And Life With An Online Degree.
Obtaining an online bachelors degree can be a swift and easy way to further your career,prospects and life in general. But before you enroll, there are a few important points you need to know get your head around. Number one, you'll want to make...
Personal Training: 6 Secrets of Award Winning Customer Service
Would you believe that your ability to provide quality customer service to your clients is at least as important as your ability to get them results from their training program? Did you even know that customer service was going to be part of your...
Cause and Effect Essay
Writing a cause and effect essay may require more advanced skills from the writer than narrative or descriptive essays. The writer has to demonstrate his ability to give clear presentation of the factual material. Careful selection of sources is...