An exciting new journey begins when you imagine a rewarding career in real estate. Getting started can be a bit puzzling and experience can be an obstacle. Knowing this, you can map out a simplified path to achieve your goals.
This guide is aimed at inexperienced individuals and details the steps needed on how to become a real estate agent with no experience. You will get to know what to expect along your journey from knowing the profession to acquiring your first clients.
Key Takeaways
- Identify the basic steps to obtaining your real estate agent license.
- Understand the process involved in getting a real estate license.
- Create a solid career foundation with what you will learn.
- Learn how to obtain clients and close deals.
- A variety of resources and tools to get you started.
What is Known About the Real Estate Profession
What is known about the real estate profession is that it is broad and dynamic. As a real estate agent, one is not simply a property mover but rather an individual who is engaged in a number of activities, activities such as being proficient in the requirements of the client, traversing the geo-legal and geo-financial landscapes, and being knowledgeable about the real estate market in a determined area.
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What Real Estate Agents Do
Real estate agents are the ones who handle the sales transactions of the real property as sellers and buyers. They do the following:
- Do market analysis and tell real estate property value
- Create listing of properties and do listings that are attractive
- Show real property to buyers who are prospective
- Do negotiating of offers and do counter offers, and
- Assist in the entire process of closure of transactions
These activities demand high order trade and people skills, understanding of the area and the sector, as well as organizational competencies.
What They Can Earn
What prospective real estate agents are able to earn is highly variable and depends on the following factors: the sector of the market to which the agents are available, the sector of the market in which the real estate agent industry is in the market, the experience that the agents have, as well as the number of closures that the agents have been able to achieve.
The outlook for real estate agents is optimistic; the Bureau of Labor Statistics predicts positive growth for the profession and the industry as a whole due to ongoing needs for housing and other real estate.
Benefits of Starting Without Experience
Starting a real estate career with no experience or seeking answer to how to become a real estate agent with no experience:
- Gain a new point of view in the field
- Be shaped through training and mentorship offered by brokerages
- Learn from peers and assimilate to the best practices in the profession
In a field that’s as dynamic and changing as this one an unencumbered beginning is a real plus. The field offers opportunities for new people to keep up with the profession and grow in new ways.
Educational Background and Requirements
Before one can get a real estate license, aspiring agents need to meet initial educational criteria. Such prerequisites exist to make certain that real estate agents will have the skills and knowledge to successfully function in the industry.
Minimum Requirement Standards
Candidates need to be at least 18 years old, a high school graduate, U.S. citizen or legal alien. This and the other eligibility requirements are the same across the U.S., but it is advisable to check the requirements on a specific state’s real estate commission.
Individual State’s Requirements of Licensing
Unlike many other professions, the requirements for real estate in the country are not the same. Every state has its own addition and/or modification of the country’s law. For example, some states have an additional law such as the requirement for a background check in addition to providing a certain number of hours of pre licensing education. Every prospective agent must ensure in knowing the state’s additional licensing requirements for real estate.
Obligatory Prior to Licensing Education
The pre licensing education on real estate is required and covers very important subjects such as real estate law, contracts, real estate ethics and real estate appraisal. Every state differs on the number of required hours of this education, but completion of such education is required to prepare real estate candidates’ tests. For such education, a good pre-licensing education provider has to disseminate to each prospective agent the right knowledge on the national and state specific topics. Thus, partially it answers so far, how to become a real estate agent with no experience.
Costs to Get Started
The costs to become a licensed real estate agent are driven by the state in which you are trying to become licensed in and the colleges to which you are applying. Common costs include the following :
Average Cost Range
Pre-Licensing Courses $400 $200 – $600
Licensing Exam Fees $100 $50 – $200
Background Check $50 $20 – $100
Association Fees $200 $100 – $500
Total Estimated Cost $750 $370 – $1,400
To build a positive career in real estate, a person must be aware of the costs and educational components involved. Real estate can be a rewarding career and to take the first step in the profession, prerequisite costs, and educational components must be met.
How to Become a Real Estate Agent with No Experience : The Licensing Process
A number of steps must be completed in order to get your real estate agent license in order to assure you can perform the job in a competent manner. The real estate license process is a vital part of your career in real estate because it is the first thing that needs to be done to work in the field and it also builds your foundation for everything you will do in the field.
Complete Required Pre-Licensing Course
The first step in the licensing process is completion of required pre-licensing courses. Pre-licensing courses cover important topics such as real estate law, ethics, and contracts. The number of required hours differs by state, check your state’s requirements. Pre-licensing courses can be taken online and in the classroom, which allows you to pick the format you prefer.
In California, for instance, prospective agents complete 135 hours in pre-licensing education. This includes course work in real estate principles, practices, and state law. Online courses provide the ability to study at your own pace. In classroom settings, you may have more interaction with the instructor and students.
Pass the Real Estate Exam
The next step is to pass the real estate licensing exam. This is done after completing your pre-licensing education. The exam assesses your understanding of various real estate concepts, laws, and practices. Make sure to do your best to prepare for the exam by reviewing course materials and completing practice tests. An exam may have various formats and content depending on the state, as such you must know your state’s exam format.
Real estate exams tend to be split into two sections: one is the national component while the other is state specific. The national component is general real estate whereas the state specific component is about the laws and practices of your state. Many pre-licensing courses offer exam preparation materials such as practice exams and study guides.
Step 3 is to submit the license application and background check.
When you complete your licensing exam, you must submit your license application along with conducting a background check. The application process requires you to furnish your personal and professional details alongside showing documentation of your education and exam results. A background check is needed to ascertain if you fulfill the state standards of good moral character and fitness for licensure.
As background checks take multiple weeks to complete, it is best to start the process as early as you can. It is also helpful for the process if you live in a state that allows background checks to be performed prior to even taking the licensing exam.
Step 4: Searching for a Sponsoring Broker
Completing the licensing process requires the final step of finding a sponsoring broker, which can take some time. In a majority of the states, new agents must work for an established broker. Your sponsoring broker will offer guidance, support, and supervision as you take the first steps in the world of real estate. When doing your research into brokerages, ensure you select a brokerage that fits your values and goals for your career.
When you choose your sponsoring broker, look into the types of training programs, company culture, and commission splits offered. Most brokerages develop training and mentorship programs catered to new agents, which is a great resource to help you get started.
Building Your Real Estate Career From Scratch
After receiving your real estate license, a new journey begins as you will have to start building your career from the ground up. The process to obtain your license is an important step, but it is also only the start of your journey to become a successful real estate agent.
Choosing the Right Brokerage for Beginners
The new agent’s first step is selecting a brokerage and it is an important one. A good brokerage will have a supportive environment that is able to offer training, mentorship, and the resources to help you grow. In order to make a decision on a brokerage, look into commission splits, potential training offerings, and the overall culture of the company.
Brokerage Attributes
Explanation
Value for Starters
Distribution of Commissions
What part of the commission earned the agent receives
Very Important Accordingly
Ownership of Training
Pre-planned and regulated undertaking of training in companies for entry level and junior agents.
Very Important
Business Identity Strategy
Along with several of the studies with the discipline of the real estate industry a business plan will be required. Because it constitutes the itemized and detailed projection of the agent’s objectives, the target audience, the means of advertisement, and the financial objectives. A business plan in this manner gives the agent a sense of balance. A business plan gives the agent the sense of balance and the capability and means of adjusting to the demands of the industry.
Elements of a real estate plan:
- Analysis of the industry
- Means of advertisement
- Estimation of the costs
- The Plan
Prospecting First Clients with No Experience
The first clients are the clients with no experience are the most complex and most challenging, however, it is achievable. Be sure to utilize all the resources you have, including family and friends, and offer them a discount for your services. This will help you build up a portfolio.
Best methods of obtaining first prospective clients:
- Networking
- Employing
- Participating
Constructing Your Professional Network
Networking in the industry of real estate is essential, because it will yield referrals, collaborations, and wise words of others including more seasoned agents. Participate in industry occasions, be part of real estate associations and interact with other agents virtually.
Pointers on Effectively Networking:
- Fostering Relationships and Being Authentic
- Providing Others Value
- New Contacts And Follow Up
New agents in the field need to have the right tips and strategies in place for success in the long run. Real estate is a competitive field. IT takes a lot of work for new agents to be creative and innovative to succeed.
Using Mentorship to Your Advantage
Having a mentor is one of the strongest tools a new professional in any field, including real estate, can have to help them get through the challenges that lie ahead. Mentors can be very supportive, and offer experience, guidance, and tips that can be very useful.
- expect to gain tips and be illustrative of the patterns you notice
- Be sure to influence the steps you gain to help move your growth in the right direction
Building Your Individual Brand
It is important to have a clear and strong individual brand to create a presence in a competitive market as a new real estate agent. Your individual brand should match your core values, your strong points, and the type of work you do.
It is wise to choose a specific market to concentrate your efforts on and to consider the target audience’s desirable attributes.
To include a logo, color scheme, and other elements of a visual brand that correlate with one another, it is essential that a clear visual brand be developed and started.
Construct a solid digital footprint via sponsored ads, company websites, and social media platforms.
Social Media and Technology Utilization
Integrated technology and social media are central to almost any market today, including real estate. They provide a platform to effectively and quickly communicate with a large audience to advertise to potential customers and to interact with prospective and current clientele. Integrating such technologies available in today’s market improve work-flow and overall productivity.
- Advocate and advertise company services via multiple social media platforms.
- Utilize a client relationship management software to streamline and improve management of client and potential customer interactions.
- Research and invest in technologies that provide virtual tours of properties in order to entice potential customers.
Education and Niche Specialization
Real estate is a domain rich with opportunity, but also holds a lot of potential difficulty and problems. Constantly changing factors, including, but not limited to laws, technologies and marketplace demand add to complexity of the field. The field is evolving and so must participants through education and learning. It is also useful to specialize to obtain a competitive advantage in the opportunity rich field.
- Use workshops and learning opportunities to stay current and informed.
- Think of narrowing your focus and specialize in one real estate market, such as commercial or luxury rentals.
- To elevate overall credibility in the field, be sure to obtain relevant certification and education.
Conclusion
So, finally on how to become a real estate agent with no experience you have plenty of knowledge now to become one. Beginning a career in real estate for the first time is often filled with a great deal of uncertainty. However, once you research the field and receive the proper support, you should be able to find success. Having a step-by-step format to obtaining a real estate license and starting a career will be beneficial.
To obtain a real estate license, education, and an exam must be completed. After passing the exam, the new real estate agent must partner with a sponsoring broker to begin their career. Creating a business plan and using available tech to optimize productivity and efficiency is fundamental.
While starting the career, constructing a cohesive and professional identity as well as a pertinent work network should be the areas of main focus. Success is attainable with proper work effort. Starting that new career is real estate as a professional starts now.
FAQ
How to become a real estate agent with no experience?
There are some common requirements to be eligible for a career in real estate, such as a high school diploma, completion of the needed education, and being at least 18 years of age. States may have other specific requirements, but these will be the same in most places.
How long does it take to become a licensed real estate agent?
Becoming a licensed real estate agent can take anywhere from a few weeks to a few months, depending on how long it takes to complete the state required pre-licensing coursework, pass the state exam, and obtain the state license as required by the specific state licensing requirements to become a real estate agent.
What is the cost of becoming a real estate agent?
Becoming a real estate agent costs at least from a few hundred to several thousand dollars for required pre-licensing education, a licensing exam, state required background checks, state license application fees, and other expenses.
How do I find a sponsoring broker as a new real estate agent?
Finding a sponsoring broker can be done by researching sponsoring brokerages in your area, attending local open houses, and networking with other real estate agents to gain sponsorship insights. You can also directly contact brokerages to ask about sponsorship.
What are some essential strategies for new real estate agents to succeed?
Essential strategies for new real estate agents to succeed and grow in the field include mentorship, effective brand building, and active use of programs and platforms for education and automation.
Is prior experience necessary in order to succeed as a real estate agent?
No prior experience is necessary in order to succeed as a real estate agent. One can build a successful career in real estate with the right tools and education.
What are the steps to creating a professional network as a new real estate agent?
You can create a professional network by participating in real estate community events, joining associations focused in real estate, as well as by utilizing social media to connect with other real estate professionals such as agents and lenders.
Why is it necessary to keep taking real estate education courses?
In order to adequately serve clients and stay competitive, real estate agents need to take courses to keep learning and stay current with regulations and laws in real estate as well as other market changes.