How to Become a Real Estate Agent: The Ultimate Guide
Are you interested in becoming a real estate agent? If so, you’re in luck! While a lot of people wonder how to become a real estate agent, the process is relatively simple and straightforward.
Every year, thousands of people become real estate agents, and there’s no reason you can’t be one of them.
In this post, we’ll walk you through everything you need to know about how to become a real estate agent, including what real estate courses you need to take and how to get your real estate license.
If you’re ready to learn how to become a real estate agent, let’s get started!
What is a Real Estate Agent?
A real estate agent is someone who helps people buy and sell property. In most cases, real estate agents work with buyers to help them find the perfect home.
Once a buyer has found a property they’re interested in, the real estate agent will negotiate on their behalf to get the best possible price for the home.
Real estate agents also work with sellers to help them list their property and find buyers.
While real estate agents can work independently, most of them work for real estate brokerages.
A real estate brokerage is a company that helps connect real estate agents with clients.
In most cases, real estate agents will split their commission with the brokerage they work for.
Real Estate Agent Salary
According to Salary Expert, the average base salary of real estate agents in Australia is approximately $92,000 with an entry-level annual base salary of $54,000 and an expert salary of $115,928.
Of course, real estate agents also have the potential to earn a lot more money through commissions.
The average commission for real estate agents is about $14,000 per year.
However, keep in mind that real estate agents only earn a commission when they help a client buy or sell a property.
So, if you’re interested in becoming a real estate agent, you need to be prepared for periods of time when you might not earn consistent bonuses.
Steps to Become a Real Estate Agent
If you’re interested in becoming a real estate agent, there are a few steps you need to take, and these steps can differ depending on where you are in the world.
In general, to become a real estate agent, here are some steps that you need to take:
1) Find Out The Basic Requirements
The first step is to find out the basic requirements for becoming a real estate agent in your area.
In most cases, you’ll need to be at least 18 years old and have a high school diploma or equivalent. You will also need to have a clean criminal record within the past five to 10 years.
Some states also require you to take a real estate course before you can apply for your license.
2) Take an Approved Real Estate Course
Once you’ve met the basic requirements, the next step is to take an approved real estate course.
In most cases, you’ll need to take a real estate course that’s been approved by your state’s real estate commission.
You can find a list of approved real estate courses in your state by visiting your state’s real estate commission website.
You can find our selection of real estate courses here.
3) Get Real Estate Work Experience
The next step is to get some real estate work experience before you apply for your license.
Typically, you’ll need to work as an assistant to a real estate agent or broker for at least one year before you can apply for your own license.
In New South Wales, Victoria, Western Australia, and the Australian Capital Territory, real estate aspirants need to work in the real estate industry for at least one year before applying for a real estate license.
In NSW, aspiring real estate agents must work a minimum of one year as assistant real estate agents.
Once you’ve completed your required work experience, you’ll be ready to apply for your real estate license!
4) Applying For Your Real Estate License
Now that you’ve met all the requirements, it’s time to apply for your real estate license!
While licensing requirements are different for each state and region, most times, you are expected to have attended an approved real estate course, have a specified amount of real estate work experience, and pass an exam.
Any experience you gain within three years before applying for your license also counts towards your work experience.
To maintain your license you need to pay a small fee every year. Depending on where you are, you will also need to pay some additional fees which are unique to your area’s requirements.
Requirements can vary from place to place, so it’s important that you do your research and find out what the requirements are in your area.
5) Apply for a Real Estate Job
After you’ve obtained your real estate license, the next step is to find a job.
There are many different real estate companies that you can work for, but it’s important to find a real estate company that’s a good fit for you.
You can start your search by looking for real estate companies in an industry that you are interested in.
For example, you can search for “commercial real estate companies” or “residential real estate companies.”
You can also attend job fairs or networking events to meet potential employers.
To apply for a real estate job, just like any other job, you’ll need to submit a resume and cover letter, and you may also need to complete an application form and participate in an interview.
After you’ve applied for a job, the next step is to wait for a response from the employer.
If you are offered the job, congratulations! You’ve successfully become a real estate agent.
If you are not offered the job, don’t be discouraged—just keep applying and networking until you find the right fit.
6) Join a Real Estate Professional Organisation
After you’ve obtained your real estate license and found a job, the next step is to join a real estate professional organisation.
Joining a professional organisation is a great way to network with other real estate professionals, learn about industry news and events, and find out about job openings.
There are many different real estate professional organisations to choose from, so it’s important to find one that’s a good fit for you.
Some organisations are geared towards new real estate agents, while others are more suited for experienced professionals.
In Australia, some of the most popular real estate professional organisations include the Real Estate Institute of Australia (REIA), the Australian Property Institute (API), and the Housing Industry Association (HIA).
Joining a real estate professional organisation is a great way to further your career as a real estate agent.
By networking with other real estate professionals, you’ll be able to learn about new industry news and events, find out about job openings, and improve your skills.
Becoming a real estate agent is a great way to start a new career.
There are many different steps that you need to take in order to become a real estate agent, but if you follow this guide, you’ll be on your way to a successful career in no time.
At Under the Hammer, we offer a wide range of real estate courses and resources, to prepare you for a successful career ahead of you.
If you need help deciding the best way to go, we would be glad to help. You can give us a call at 1800 220 969 or contact us here.