| The process of becoming a real estate agent is | | | | subscribes to its Code of Ethics. The agent joins |
| fairly simple, although it does vary a lot from | | | | through the local (city) board or association. |
| state to state. Here are the fundamentals of | | | | Membership in the REALTORS(R) is optional, but |
| becoming a real estate agent.a) License | | | | help enhance your career.c) How much can a real |
| Requirements | | | | estate agent earn? |
| Each state has different licensing laws, so you will | | | | Real estate agents more often than not are paid |
| need to look at your local requirements. However, | | | | on commission. This commission is a percent of |
| in general you will have to: | | | | the selling price of the property. The seller will |
| - Meet an age requirement | | | | generally pay 4-6% of the sales price as the fee |
| - Pass a background check | | | | for having an agent handle the complex job of |
| - Complete approved real estate courses from a | | | | selling their property. The funds will often be split |
| state-approved school | | | | equally between the seller's broker and broker |
| - Pass a state exam | | | | who finds the buyer. |
| - Complete an application form | | | | As an example, if the fee for a $300,000 |
| - Submit various fees | | | | property is 6%, the buyer's broker will be paid |
| Agents just getting their license work for a real | | | | 3% or $9000 and the seller's broker will also be |
| estate broker. If you decide at some point to | | | | paid 3% or $9000. The agent is paid by his or her |
| work for yourself, you will need to earn a broker | | | | broker, using their agreed-upon commission split. |
| license. Most new agents sign on with one of the | | | | This is often 50-50 for new agents, so in that |
| large company brokerages. Most successful | | | | case the agent in our example would be paid |
| agents, even if not self-employed, treat the real | | | | $4500. |
| estate profession as their own business, instead | | | | So to answer the question, the amount that a |
| of just a job. This attitude will go a long way to | | | | real estate agent can earn is only limited by the |
| ensuring your success.b) What is a REALTOR(R)? | | | | number of transactions that he or she can close. |
| Many people are confused about the difference | | | | Visit for requirements for obtaining a real estate |
| between a real estate agent and a REALTOR(R). | | | | license in your state. |
| A real estate agent becomes a REALTOR(R) | | | | This article may be reprinted if proper credit is |
| when he or she pays an annual fee to the | | | | given and all links left intact. |
| National Association of REALTORS(R) and | | | | Copyright©2005 Real-Estate-Career-Info. |