Boston downtown condo broker
We hear it all the time: “Hey, I’m thinking about getting my real estate license! What’s it like? Do you get to be in charge of your schedule? How much money is there to be made? Do you think I can do it only on the weekends?” Well, the answers to these questions can vary wildly, and no you can’t be a good agent by doing it part-time. What this post explains is the process of actually getting started. While it’s not exactly as thrilling as a Harry Potter plot twist, it’s necessary information to digest before you start down the winding road to become a licensed Texas real estate agent.
Step 1: Check Your Eligibility
As long as you’re at least 18 years of age, a lawful citizen of the United States or a lawfully admitted alien, and a resident of the state of Massachusetts you’re already halfway there.
You also need to meet the Ma Real Estate Commission qualifications for honesty, trustworthiness, and integrity. Ma Real Estate Board wants to see you be transparent. Don’t attempt to hide something small (or big) because you think they might not find out about it or it could hinder your chances – they respect honesty and the more you disclose about your past that could be seen as unfavorable, the more likely they’ll let it slide. If you choose not to disclose it, and they discover it in your background check, you can never get the time and money you spent on your application back. If you’re unsure if there’s something in your past that could make these qualifications a gray area for you, you can always request a Moral Character Determination
Step 2: Take the Required Pre-license Coursework
Now that you’ve determined your eligibility, it’s time to really get started on your real estate license! Massachusetts requires new agents to take pre-licensure coursework before applying for their license. These courses teach you the basics of being a real estate agent. The six courses you’ll need to take are:
- Principles of Real Estate I
- Principles of Real Estate II
- Law of Agency
- Law of Contracts
- Promulgated Contract Forms
- Real Estate Finance
Each of these individual courses contains hours of information covering the basic topics of information you’ll need to know to get started in the business. What these courses don’t always teach is how to become an entrepreneur and run your own business once you start. A great way to acquire this knowledge is to get set up with a great brokerage, find a mentor or two in the industry, and take continuing education courses that help expand your business and marketing knowledge.
Step 3: Apply For Your License
Now that you’ve completed your 180 hours of pre-license coursework you’ll need to officially submit an application for your license with Ma license board. This can be be done online or through a paper application.
Step 4: Study the Material
The Ma real estate licensing exam is comprised of multiple choice questions. Some questions will be over national topics while the other will be Massachusetts-specific content. You’ll want to take note of the topics you find most difficult to understand while you work through the courses so you know what material to focus in on when you’re studying for the exam.
Step 5: Pass the Test With Flying Colors!
You’re now a licensed real estate agent. How does it feel? Great, right? After you pass, you’ll have what’s called an inactive real estate agent license. This means that while you’re technically a licensed agent, you shouldn’t work with any clients until you activate your license.
Step 6: Find a Sponsoring Broker
In order to activate your new license, you’ll need to sign on with a sponsoring brokerage. Traditionally, students find a brokerage through networking and responding to recruitment’s.
Your broker will be the one who takes legal responsibility for your work, helps you price and list homes and, depending on the brokerage, can even provide marketing and education services. Some things you’ll want to keep in mind when you’re considering which brokerage to work with:
- Does the commission split make sense?
- Does the brokerage have a good reputation?
- Does this brokerage offer any additional support to agents?
That last one is especially important since you’re starting a new career, and additional training and mentorship can be crucial during your first few years in the industry.
Austin Craft Realty has been a great brokerage to work for. The brand has a great reputation, a unique position within the market, and the broker is incredibly helpful. The fact that all the agents are friends and have a tight-knit family vibe is what ties it all together.
Step 7: Start Closing Deals
Congratulations! You’re an agent. Get ready to start finding clients and make some dreams come true.
Sounds easy enough, right? The truth is, being a real estate agent isn’t always sunshine and rainbows. Let’s talk about some things you should keep in mind in order to set yourself up for success as a new agent.
Things to Keep in Mind if You Want to Be a Real Estate Agent
– You Need to Be Comfortable With Risk
While being a real estate agent can offer endless opportunity, there’s also a lot of risk. When you’re an agent, you no longer have the guaranteed safety net of a salary. Some people are comfortable and thrive under these conditions, others do not. Because getting started can be a little risky, it’s often recommended to save up a cushion of around 6 months’ worth of living expenses. That way, beginning your new career can be fun and exciting — not stressful!
– You’ll Have to Beat the Odds
Want to know a fun fact? An Inman study found that the leading cause of new agent failure is being “unprepared for the realities of working as an independent contractor,” Yikes! Many agents give up early on because of a lack of realistic expectations, effective career training, or helpful resources. As a new agent, you need to make sure you are getting good mentorship from either your broker or another professional in the field. Don’t let yourself be a statistic; beat the odds!
– You’re Your Own Small Business
Something a lot of new agents don’t realize is that to be an agent is to own your own small business. Yes, you have a broker and are part of a brokerage, but you are still your own boss. You’re responsible for your successes and you’re responsible for your failures. Because of this, you should really focus on learning the ins and outs of running your own business. A few things you’ll need to know are:
- How to keep yourself organized
- What info you need to be prepared for taxes
- How to effectively sell Beacon Hill condos.
Now that you’re a little more prepared for life as an agent, Call us if you’re looking to sell Beacon Hill condos