What Degree Do You Need To Become A Real Estate Agent?

What degree do you need for real estate agent work?

None!

One of the most appealing things about becoming a real estate agent is that you can become an agent with any background.

And that means that you can radically change your career — even if you don’t have a college degree.

But that doesn’t mean there aren’t any requirements. You must attend real estate school, pass a licensing exam, and find a sponsoring broker.

Do you need a degree to become a real estate agent?

Whether you’re working in residential or commercial real estate, there is no set higher-education requirement to become a real estate agent. Most states require that agents complete some form of pre-licensing education. In many cases, a high school diploma or equivalent is all that is needed. Because requirements are state-by-state, you should check with your state specifically regarding the requirements.

Additionally, most real estate firms require their agents to complete some form of ongoing education to maintain their licenses. This ongoing education can take many forms, such as taking classes, attending seminars, or even completing online courses. Many states also require that agents take a certain number of continuing education credits every year to renew their license — and, of course, they need to find sponsoring real estate brokers.

What is the best degree for a real estate agent?

Maybe you already have a degree. Or maybe you want to get one anyway. One of the best degrees for a real estate agent to have is a business degree. A business degree will give you a well-rounded education that will prepare you for a career in real estate.

Other good degrees for real estate agents include:

  • Marketing
  • Business Administration
  • Finance
  • Economics

Of course, having a relevant degree is not required to be a successful real estate agent. However, these degrees will set you up for success because they’ll give you more insights into the industry and running your own business.

Getting a degree is great — and expensive

The average cost of tuition is over $17,000. Not everyone wants to spend that amount to increase their earning potential. Real estate can be not only a lucrative career, but a career with a low financial barrier to entry.

How do you learn how to become a real estate agent?

Beyond meeting your state’s education requirements, the best way to learn how to become a real estate agent is by taking as many real estate courses as possible. A pre-license course will teach you the basics of real estate, including property law, contracts, and ethics.

In most states, you must complete a certain number of hours of pre-licensing education before taking the licensing exam. Once you pass the exam, you will be officially licensed as a real estate agent!

You can also learn more about becoming a real estate agent by reading books and articles on the subject or by shadowing or working with an experienced agent. Mentorship is extremely important within the real estate industry. And that’s why many successful agents come from families already in real estate.

Attending real estate school

While you don’t need a degree to become a real estate agent, you must attend a real estate school. A real estate school will give you the knowledge you need to represent your clients to the best of your ability — and run your new business.

What is real estate school?

Real estate school is like a trade school for becoming a real estate professional and acquiring a real estate license. The time it takes to complete real estate school can vary, but most courses can be completed in a few months. Once you’ve completed your coursework, you’ll need to pass your state’s licensing exam before you can officially become a real estate agent.

How do you find a real estate school?

There are many ways to find a real estate school. You can ask your state’s real estate commission for a list of approved schools, search online, or even ask a local real estate agent for recommendations. Once you’ve narrowed down your choices, be sure to research each school thoroughly to make sure it’s a good fit for you.

What will I learn in real estate school?

Real estate school will cover various topics, including property law, real estate math, and marketing. You’ll also learn about the different types of properties and how to market them to potential buyers. Additionally, you’ll gain an understanding of the real estate industry as a whole and how to best navigate it.

How long does real estate school take?

The time it takes to complete real estate school can vary, but most courses can be completed in a few months. Once you’ve completed your coursework, you’ll need to pass your state’s licensing exam before you can officially become a real estate agent.

How much does real estate school cost?

Certainly not as much as a traditional degree. The cost of a real estate school can range from a few hundred dollars to a few thousand, depending on the length of the program and the school you choose.

Don’t assume that a more expensive school is “better.” Generally, cheaper schools are for students who can easily be self-motivated and learn independently. More expensive schools will provide more support — but that support isn’t necessary for everyone. Either way, it shouldn’t cost more than a few thousand dollars for the entire curriculum.

Preparing for the real estate license exam

After you’ve gone through real estate school, it will be time to take the real estate exam. Many real estate schools are essentially preparatory schools for this credential — they’ll teach you about what’s on the test and help you build the skills you need to pass.

What is the real estate license exam?

The real estate license exam is a test required to become a licensed real estate agent. The test covers various topics, including property law, real estate math, and marketing. You’ll need to pass the exam to get your license.

What does the real estate license exam cover?

The real estate license exam covers everything you need to know to be a real estate professional, so it’s fairly robust. You will cover:

  • Commercial and residential property law
  • General real estate law and regulations
  • Purchasing, selling, and leasing property
  • Real estate math and marketing
  • Running a real estate business
  • Real estate finance
  • Building a real estate transaction
  • Managing real estate sales

In short, it should cover everything you need to both represent your clients and build your books of business.

How do you prepare for the real estate license exam?

There are many ways to prepare for the real estate license exam. Many real estate schools offer prep courses that will teach you about what’s on the test and help you build the skills you need to pass. Additionally, there are many study guides and practice tests available online and in bookstores. Be sure to give yourself plenty of time to study to feel confident going into the exam.

How much does the real estate license exam cost?

The cost of the real estate license exam varies by state but is generally around $100. You may also need to pay a fee for the exam, ranging from $50 to $200. Check with your state’s real estate commission for more information.

What is the passing score for the real estate license exam?

The passing score for the real estate license exam varies by state but is typically around 70%.

Nearly every state lets you take the real estate license exam multiple times to pass it. You should check with your state because there may be a cool-down period, e.g., you may only be able to attempt to take the test once every six months or once every year.

Working with a sponsoring broker

Finally, after you pass your real estate license exam, you will generally have to work under a broker for some time. This ensures that you are practicing real estate under the guidance of an experienced mentor. Without a sponsoring broker, you can’t practice real estate — even with the license.

What is a real estate broker?

A real estate broker is someone who the state has licensed to oversee real estate transactions. In most cases, brokers own their businesses — meaning they’re your boss if you choose to work under them. As such, you must find a broker who you’re compatible with and who you can trust to help you grow your business.

How does a real estate agent find a sponsoring broker?

There are a few ways to find a sponsoring broker. You can ask your state’s real estate commission for a list of brokers looking for new agents, search online, or even ask a local real estate agent for recommendations. Once you’ve narrowed down your choices, interview each broker thoroughly to ensure they’re a good fit for you.

What are the benefits of working with a broker?

Working with a broker comes with several benefits, including access to industry resources, mentorship, and support. Additionally, many states require that you work with a broker to practice real estate — so it’s not something you can avoid even if you wanted to.

What are the drawbacks of working with a broker?

The biggest drawback of working with a broker is that they will generally take a percentage of your commission — meaning you’ll have to split your earnings with them. Additionally, you’ll be beholden to their rules, which can feel restrictive.

The reality is that you can work with a broker who provides a lot in terms of tools, leads, and administration, but it will cost you. Alternatively, you can work with a broker who is more hands-off but get more in terms of your commission.

Today, many real estate professionals opt to work with hands-off brokers that provide next-gen tools (such as customer relationship management suites and lead generation software) and don’t take much commission. This reduces the chances you’ll have a fancy brick-and-mortar office in your first year but increases the chances of building your cash and equity.

Eventually, you can get a broker license of your own. The process is similar — and in most cases, you still won’t need a college degree — but you will need more experience within the industry.

Conclusion: What degree do you need for real estate agent work?

For many professional careers, you need to have a degree. You might need to have a degree in a very specific field. But becoming a real estate agent doesn’t require a degree. All it requires is dedication and determination.

You can become a real estate agent in six months if you want to — and that means you can start earning fast. But that isn’t to say it’s easy. You will need to study and pass the licensing exam.

There are many benefits to becoming a real estate agent. You’ll have the opportunity to work independently and set your schedule. And you’ll have the potential to earn a good income, especially if you work in a high-end market.

It’s time to get a real estate license.

FAQs

How hard is it to get a real estate license?

Getting a real estate license can be done fairly quickly, but it does require dedication and hard work. You’ll need to complete a real estate education program and pass the state licensing exam.

How long does it take to get a real estate license?

It generally takes around six months to get a real estate license. However, this can vary depending on the state you’re in and how quickly you complete your real estate education program.

How much does a real estate agent make?

This depends on a number of factors, including the location, market conditions, and the agent’s experience. Generally speaking, real estate agents earn a commission on each sale they make — typically around 5%.

Is a degree in real estate worth it?

You don’t need one. But if your career goals include real estate investing, then a degree in real estate can help. If you’ve always wanted to become a real estate agent, a degree in real estate certainly can’t hurt.

Kyle Handy

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