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Francisco
Staff

Francisco asked 6 months ago in Buying a Home

How do you become a real estate agent?

What type of licenses and courses are required to become a real estate agent? And is a "realtor" basically an agent?

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Jackson
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A real estate sales license is so easy to acquire. One takes about three or four courses at your local community college, sits an examination, and voila! newly-minted real estate agent. This, my friend, is part of the problem that has the nation in the pit it's in now. Basically, real estate agents are not regulated, have no strict code of ethics to which to adhere. And it's a learn-as-you go gambit where a savvy purchaser or seller may know more than the real estate agent. I used to work in mortgage banking and took real estate courses to bolster my understanding of the profession. I was startled to realize I could have gotten a real estate license after 9 hours of coursework.

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Kokopelli1234_1253746094_large

kokopelli1234 replied about a month ago

I must disagree with this. I have take the Real Estate Practices and Principles, which is the 1st of 3 classes you need to take. This is a very difficult course. This involves Real estate finance also. There is much to learn and a short time to learn it in. They do have a strict code of ethics that they must adhere to or you can loose your license.

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Jackson replied about a month ago

Kokopelli1234 is right about the course descriptions. I also took Principles of Real Estate I and II, Real Estate Finance and Agency and Contracts. The difficulty of these courses depends upon the individual. As I'd been working in the profession for three years before I did the courses, they weren't that difficult. I still stand by my earlier views, though. Bear in mind, I was in the field in the 90s, when there were few to no ethical standards (hence the current real estate meltdown). And it's LOSE your license, not "loose."

Alex Holdtman
Staff
Reply

I'm not sure what the exact steps are, but I know you have to take a class and pass a course. More info is here on ehow - http://www.ehow.com/how_1000572_become-real-estate-agent.html

Also, in order to be considered a realtor you must be a member of The National Association of Realtors. It seems they have trademarked the term 'realtor'.

Last edited by Alex Holdtman at 2009-05-21 11:55:27

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Russell Wayne, CFP
FiLife Contributor
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I took the Practices & Principles course awhile back just for amusement. Neither the course nor the exam was particularly difficult. Passed easily on the first try and used my license to save on commissions for houses I was buying. So it wasn't surprising how many folks have gotten into the field and become agents.

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Douglas Uhlenhake
Gold
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I must disagree with certain statements here about lack of regulation and lack of standards of ethics, etc..
It depends on where you are talking about.
The degree of regulation on the industry is usually overseen by State regulators.
For example, I'm in Ohio and was a Real Estate Agent, and Realtor in the mid to late 1990's To in Ohio at that time I had to take and successfully complete 4 courses including Principals and Practices, Law, Finance, and Appraisal.
In Ohio you must be sponsored by a BROKER to be an active Sales Agent.
Also, in Ohio, if you are between Brokers you can PARK your license with the State for upto 2 years (at least that is how long it was back then.)
In Ohio, the regulators that oversee the industry is the Ohio Division of Real Estate.
And they are the ones that administer the Sales and Broker Exams and Licensing throughout the State of Ohio.
Then, once you have passed the Real Estate Sales License Exam, which again, you must be sponsored by a broker to receive a license.
And, once you are licensed you can join the National Association of Realtors to become a Realtor. They have local State Chapters which you also end up joining.
In Ohio it is the Ohio Associatio of Realtors.
Both the State of Ohio Division of Real Estate and the National and Ohio Associations of Realtors have Standards of Ethics and Conduct.
Just because the industry has some bad apples doesn't mean the whole cart or industry is rotten. Most of the people in the business I met and knew then and still do know are highly ethical and highly professional in their business dealings and their personal/business overall conduct.
I'm currently studying CFP at Kaplan University online. http://www.kaplan.edu
My favorite school for courses on Real Estate and Securities - Sales and Brokerage and other financial classes is Hondros Career Centers. This is where I completed my Real Estate training and enjoyed the classes and got a lot out of them.

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Rahwa Asmerom
FiLife Contributor
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Community colleges usually offer programs to obtain your real estate license.

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