There
are some essentials of becoming a real estate agent. But, before we proceed with
those, it is mandatory to define what is work of a real estate agent. Work of
the real estate is to arrange a deal between seller and buyer. An agent can
represent one party (either seller or buyer) or he can also work as a dual agent,
for both the parties. A seller arranges properties for a buyer; he helps in all
other legal terms including escrow.
For
seller, an agent will arrange buyers; he will help in inspection of the
property and other legal terms. Apart from this, once the agent has an
established career, people will ask for advice while moving an area, dealing
with an insurance agency and other such issues. According to Dean Graziosi,
becoming a real estate agent is not that easy. There are chances of very good
income, but before getting on to that step, you have to cross a ladder of
various trainings and education programs.
Dean
Graziosi is an expert realtor. He has worked with agents as well as
independently. He sells and purchase home. He works in the field of real
estate for
more than two decades. Dean started his career at the age of 18, with a
run-down apartment building. Today he signs more than 50 deals every week.
Education:
All
states have set different criterion of education for all real estate agents. However,
one thing is set, every aspirant has to achieve certain hours of education as
well as certificates to become eligible for further process. For example, Idaho
requires you to complete two courses with 90 credit hours, whereas California
requires three college level courses.
Brokerage:
In order
to complete requirements of the state, you have to work as a trainee with a
brokerage company. It is suggested that you must contact a brokerage company
before you have completed your course hours. For most of the states, at least
three years of brokerage training are required before you can start working as
a real estate agent.
How to Choose Right Brokerage
Company:
There
are certain things that you must keep in mind before working with a brokerage
company. In order to get best results, you must check size, reputation and
offered training of the company. You can find out about their reputation by checking
their website, reading online comments, asking other real estate agents.
Whereas, in order to find out more about their training program the best way is
to ask some questions during interview session. For example:
- What training courses do you offer?
- Do you require any additional course work or working hours?
- Do you assign a special trainer to the trainee?
- Will you allow us fieldwork? (Yes some of the brokerage companies does not allow unlimited field work)
- How much time will it take to earn commission check?
License:
Here too
requirements vary from state to state. You might have to pass some national
exams. There will be background check. You will have to pay a fee of up to $200
between this phase.
Development in to a Realtor:
In order
to advance your level from real estate agent to realtor, you must join National
Association of Realtors (NAR).
Manage Financial Options:
Overall,
the process of becoming a real estate agent might cost you $1500 - $2000
including education and courses. This might seems a hefty amount, but keeping in
mind commissions and other professions, it is not a big deal. Between, there
might be an idle phase until you successfully perform your first real estate
deal. You
must keep savings to survive this idle phase.
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