Real estate is a dynamic field with a number of different job openings for anybody to consider. Regardless of your age, entering real estate is a great choice for people who want to work with others and build out their own business. The United States housing market has been on a massive bull run over the last decade, with home prices rising by another 6.9 percent year over year in December of 2022.
As these prices start to stabilize in the coming years, more people may be inclined to either purchase homes or simply move into something bigger, which means there will be increased demand for real estate agents and property managers alike. Learning everything there is to know about obtaining a real estate license can help a person enter this field quickly.
What is a Real Estate License?
All a real estate license actually is an authorization, issued by a governmental entity, that allows a real estate agent or broker to legally facility the home buying process between a buyer and a seller. It also allows a person to legally rent real estate out to prospective tenants or buyers who may be interested in the property.
How Long Does It Take to Get a Real Estate License?
The process of acquiring a real estate license can either be quick or long. For a person who continually takes real estate exam practice tests, reviews the same material until there’s nothing new, and doddles during the application process, it can take years. However, somebody who speeds through all the requirements and the exam can be certified with a real estate license in as little as 4 months.
Different states have different requirements to obtain a real estate license, with a California license being able to be acquired in as little as 14.5 weeks, so it’s best to look at the requirements for the state you live in to get an estimate for how long it would take.
Benefits of Having a Real Estate License
There are a number of promising career paths within real estate that don’t actually require a real estate license, such as house flipping, real estate courier, real estate assistance, and more. However, holding a real estate license offers a number of key benefits to consider, including:
- The ability to facilitate a home buying process and receive a cut of the sale
- Deeper insights into the housing market which can inform your own personal buying decision
- More career flexibility than those who don’t hold a license
- Improving your resume through credentials
- The ability to expand your professional network in the real estate space
What Are the Different Stages of Getting a Real Estate License?
Should all of the above sound enticing, you wouldn’t be alone in your thoughts. With an expected 5% growth through 2031, the field for Agents and Brokers is not showing any signs of slowing down or a lack of interest. To that end, learning the common steps associated with obtaining a real estate license can help anybody get on their way to a promising career:
- Meet all the criteria to apply
- Complete at least 135 hours of pre-license coursework from an approved list of courses
- Pass any course exams that are required at the end to receive credit
- Create an online portal and select the application you wish to fill out
- Submit all documentation, including transcripts for your courses
- Pay an application fee
- Receive an exam date
- Take the exam and receive a pass or fail
Overall, the process of acquiring a real estate license is relatively simple, though the exams are not. With the salesperson exam often being three hours in length and 150 questions long and the broker exam being four hours in length and 200 questions long (dependent upon your location), a large amount of studying also needs to take place between the above steps.
However, those who are dedicated to launching a new career can find themselves excelling in the field in a matter of months.
Build a career in real estate today
Real estate is not a field for everybody and requires a certain tenacity, as well as patience, to see success. Those who choose to stick in the field and dedicate themselves to building their book can set themselves up for years to come. If becoming a real estate agent, real estate broker, property manager, or some other career in the field appeals to you, don’t hesitate to look into the licensing requirements in your state.