The first step towards a career in real estate is to become licensed. The requirements vary from state to state, and I would suggest that you contact the real estate commission in your state before proceeding. In Indiana, you must be 18 years of age and complete 54 hours of classroom instruction in order to take a state exam. Pre-licensing schools offer classes in a variety of formats, the most common being two evenings per week for nine weeks. Recently, schools have started offering accelerated and super-accelerated classes. You can now get through the pre-licensing course in just nine days at some schools! The pre-licensing course does not teach you how to sell real estate but prepares you to take a state examination which is approximately 150 questions. You must score 75% to pass. The state exam takes approximately 3 hours, and you find out immediately if you've passed or failed. If you do not pass the exam, you can take it again as many times as you need within one year of passing the pre-licensing course.
The cost of the pre-licensing course generally ranges from $399.00 to $500.00. The cost of the state exam is $75.00 in Indiana, and then you must pay a $35.00 licensing fee that is renewable every two years. In the pre-licensing course, you will learn real estate terminology and agency law. You will learn about all forms of ownership and fair housing practices. You will study the license laws of your state. This information will be invaluable to you regardless of what you decide to do with your license.
You've successfully completed the licensing requirements and passed the State exam...