Becoming a Real Estate Agent
Steps to becoming a Real Estate Agent
1) Your very first step is to take the 90 hour per-licensing Broker course. (You must be 18 years of age and have received a high school diploma or equivalent. (You will be asked if you do have this on your state application but will not be required to submit it). If you are a legal alien but do not have a permanent residency card (green card), please contact the Indiana Real Estate Commission to make sure they will process your license at 317-234-3009.
2) Pass three 100 multiple choice question tests with 225 points or a 75%.
3) Pass a State Examination with a 75% given by the state testing facility Pearson-Vue (location in Indy is at 91st and Meridian Street). Click here for a candidate handbook regarding taking the state exam. The state exam currently is $61.00.
4) Once you are ready to process your license with a company, you will pay $60.00 to the Indiana Professional Licensing Agency to process your paper work and activate your license. You will have one year to do this or the commission will hold your license inactive until you decide where to place it.
5) Start interviewing with companies you are interested in. It’s good to choose companies that are going to put you through some sort of training and be in an office where you have managers who can show you the ropes.
6) Once you choose a company, you will need to join your board of realtors. In Indy it is the Metropolitan Indianapolis Board of Realtors (MIBOR). With MIBOR you will pay a one time $400.00 application fee and pro-rated membership and technology dues. The dues are $704.00 a year and technology fees are $431.00 a year. Depending on the month you join it could be anywhere from $1,000 to $1,700. (You will need to find out commission splits and any other fees during your interview with different companies).
7) Ask what is expected of you. This will help you determine if you have chosen the right company.
What are some attributes of a Real Estate Broker?
1) Organization skills – Real estate is a business where rewards are in direct proportion to effort. The more organized and consistent the efforts, the greater the rewards!
2) Communication Skills – A key element of a sales associates success is the ability to identify, understand and meet a client’s needs. Communication skills, especially listening skills enable this to happen.
3) Confidence – Great sales associates know they have the skills necessary to help people realize their real estate goals.
4) Emotional Stamina – The sales profession requires the ability to overcome resistance and maintain a positive attitude.
5) Physical Stamina – Listing and selling properties requires hard work and flexible hours.
6) Relationship Support – Great sales associates are supported by the confidence, trust and understanding of their families. Their families have a clear knowledge of the demanding nature of a real estate career.
7) Financial Stability – Savings that will ensure a new associate can live comfortably for the first few months of their career enables the associate to concentrate on real estate and not commission.
8) Team Player – The real estate sales associate is an independent contractor who interacts on a daily basis with a variety of professionals. A sales associate is independent but is also an important part of the company team.
9) Change Manager – Accepting change and adapting quickly is imperative in the fast paced and ever changing world of real estate.
10) Service Oriented – Great real estate associates realize that service to the client is what guarantees success.
“In most jobs, you are paid what the job is worth. In real estate, you are paid what you are worth.”
Doug Dickmann/ Director of the Tucker School of Real Estate