Cost of Becoming a Real Estate Agent.
Embarking on a real estate journey? Exciting times ahead!
However, like all grand adventures, this one starts with some upfront costs.
Let's get a clear snapshot of what you'll need to invest to set the stage for your flourishing real estate career.
** The Initial Investment**
Schooling Costs: Education is the cornerstone. Depending on where you enroll, costs can swing between $300 and a whopping $2,000. You can checkout my other blog for more insghts about this step: How to Get Into Real Estate: Guide to schools and requirements. (seenavarrocountyhomes.com)
Examination Fees: After absorbing all that knowledge, you'll be taking the state and national exams. Budget about $185 for this milestone.
TREC Licensing: To make your agent status official, you'll be filing your license with TREC, which will run about $150.
Background Checks: Trust is paramount in real estate. For fingerprinting and background verification, earmark around $50.
** Association Fees: Setting the Groundwork**
To hit the ground running, there are a couple of pivotal memberships and tools you'll need:
Local Board Membership: Essential for networking and resources. In my experience, it's $580 annually at the Navarro County Board of REALTORS.
MLS Access: The key to the property kingdom! The Multiple Listing Service (MLS) is crucial, and for me, it costs an average of $260 quarterly.
Real estate is not a one-off investment. To ensure you’re always at the top of your game:
You will need to renew your licenses every two years:
Your first renewal is the longest one requiring you to take a total of 98 hours, which can range from a cost of $100-$500 depending where you do your schooling at.
Then after your first newal every two years after that youll be required to complete only 18 hours and you can get classes from $50-$100.
After completing your renewal courses youll then submit your renewal with TREC that fee will cost you around $110 here in Texas.
Ball park total of ongoing exspenses to keep my licenses going :
Added every two years an additional: $180-220ish
Starting a career in real estate involves various financial commitments.
While these numbers can feel overwhelming initially, remember they're an investment in your future success.
With every dollar spent, you're paving your path in the exciting world of real estate.
Onward and upward! 🏠🌟
PS. If you have more questions about getting into real estate, schools or the truth of the field; feel free to reach out to me!
Email: [email protected]