One motivation many people have for getting a real estate license is the amount of money that it’s possible to make in the real estate market. But just how are real estate agents compensated for their work? Here’s a brief overview on how real estate agents get paid.
Most often agents are paid by real estate commissions based upon the sale price of a property. The commissions of a real estate transaction are negotiable and tend to range anywhere from 1% all the way up to 10%. For our purposes here we will use a 5% commission rate example. So for a $250,000.00 property, the 5% commission paid upon the closing of that property will be $12,500.00. That does not mean that the agent walks away with $12,500.00. The broker of record will receive a predetermined portion of the commission. Continue reading
A real estate license can be earned at a fraction of the cost and in much less time than it takes to earn a traditional degree.
How long does it take to get a real estate license in your state? It depends on many factors, such as how many course hours you need, which real estate school you select, and the length of the application process with the state. Continue reading
Many states have reciprocal arrangements for granting licenses to real estate licensees from other states. This is important for real estate agents that live or work near bordering states. Reciprocal agreements vary widely from state to state. Some have agreements with all other states, while others have agreements with only one or two bordering states.
Real estate license reciprocity overview:
Real estate license reciprocity is an agreement between states that allows you to get a license in another state; in most cases simply by taking the reciprocal state’s exam. As long as you hold a valid real estate license in your current state, you are a few questions away from a second real estate license. Continue reading
Earning a real estate license is a fantastic way to embark on a new career path with unlimited income potential. And taking online real estate courses can be more convenient than any other college course or job certification program. Many real estate schools offer classes online, which means you can complete your real estate training from anywhere. For people who are looking for a new start with a new career, real estate is an excellent option; but what about those who need a new start from a less than perfect past? For someone that has had a felony conviction or other questionable action in their background, the answer is that you can get a new start if you want to make the change.
No matter what state you want to start your new real estate career in, one of the most important traits looked for in a potential real estate licensee will be good character. You will be asked to disclose any actions that may have been deemed unprofessional or illegal, with or without conviction. Disclosing this information does not necessarily disqualify you for licensure. On the other hand, a failure to disclose information about any such behavior, with or without any conviction, will most likely lead to a denial of license. Continue reading