Becoming a real estate agent is an excellent career choice. It requires to face different challenges and difficulties, just like any other profession in the world. People generally believe that real estate agents can earn lots of money through commissions. However, becoming a real estate agent is not as simple as it appears. It has some pros and cons that you should consider well in advance. Here are some things that you should keep in your mind before choosing real estate as your profession.
Personality Requirements for Real Estate Agent:
· Ability to deal with stress
· Problem solving skills
· Ability to make new contacts and increase network
To be successful as an agent, you must be able to make new contacts even from strangers. You should have the capability of turning your contacts into your customers. It is certainly not a profession of shy people. You should be able to tackle stress and solve professional problems with ease and tact.
Motivation and discipline are keys to success in any profession and you should always be optimistic about the deals that you are entering in. By becoming an agent, you have opted to be your own boss but it also means that you have to deal all the problems yourself without any guidance from any other person.
Requirements for Getting License
Every state has its own regulations and requirements for license. Generally the requirements are:
· Pass background check
· Age requirement (Generally 19 years and above)
· State exam passed with minimum set grades
· Completed application forms
· Complete approved courses from any real estate school approved by state
· Pay all the required fees
Cost Requirements for Real Estate Agent
The actual cost depends upon the licensing requirements of different states. It can be $300-$800. It includes cost of attending classes and paying the processing fees for getting licence. After getting licence, you have to pay different fees and annual dues. Some of them are:
· MLS dues
· Errors and omissions insurance
· Membership dues of Real Estate Board
· National Association of Realtor dues
· Any other fees applicable in your state
Some other fees are also applicable that some professionals generally do not consider like:
· Marketing materials
· Payments for car and Realtor Surrey gas and increases insurance cost
· Professional attire
· Basic costs required for food, mortgage as well as other living expenses
Depending upon different fees, it can be $800-$3000 for getting started as real estate agent. However, it is also advisable to have minimum 6 months fall back income saved as you are not sure when you will get your first commission.
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