Gennady Barsky - Real Estate Liscening

Real Estate Licensing

A career in real estate can be lucrative, and it also gives you the flexibility of being self employed. However, you can’t just jump into the real estate field; there are procedures you have to follow before you can start selling houses.

Minimum requirements to start Before you can even consider a real estate career, you have to make sure you meet the minimum requirements, which vary by state. In most states, you have to be either 18 or 19 years old, and you have to have a high school diploma or equivalent.

Education The first step in becoming a real estate agent is taking the necessary pre-licensing classes. The requirements vary greatly by state. For example, Massachusetts requires only 24 hours of classes. Iowa requires 36 hours of instruction, while Nebraska, right next door, requires 60 hours. Florida requires 63 hours, New York requires 75 hours, and in Arizona, prospective agents have to take 90 hours of prelicensing classes. Some states, including Pennsylvania, waive the prelicensing classes for anyone with a law degree or for those who have a bachelor’s degree in a real estate-related field.

Licensing Once you have completed the necessary classes that your state requires, you can take thereal estate licensing exam in your state.

Again, the exams and the requirements vary by state. In most states, there is a time limit in which you have to take and pass the exam after you take your required real estate courses. There are also fees, and in many states, there is both a fee to take the test and a fee to get a license.

Joining a brokerage Most states require a real estate salesperson to work for a licensed broker, so to be able to sell real estate, you will need to find a brokerage to work for. This process, again, varies by state. In some states, you need to find a brokerage that will agree to sponsor you before you take the licensing test. In other states, it’s perfectly fine to get your license first and then find a brokerage.

Continuing education Once you are licensed, most states require you to take continuing education classes to keep your license up to date and remain in good standing. Like most other aspects of real estate, continuing education varies by state. Minnesota, for example, requires 30 hours of continuing education every two years to renew your license.

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