How to Become a Realtor in Texas A career in real estate in Texas is a profession that is not only demanding but also has its perks and rewards. You have to dedicate yourself to develop and grow as a realtor. Though it may be tasking, becoming a realtor in Texas is not difficult. Here are some pointers on what you need to do to become a realtor in Texas. General Requirements Below are eight important points you need to know if you wish to earn a real estate license in Texas:
1. Be a citizen of the U.S or a lawfully admitted alien.
2. Be at least 18 years of age.
3. Be a legal resident of Texas.
4. Have a high school diploma or its equivalent.
5. Complete pre-licensing classroom hours in a state accredited real estate school.
6. Complete a licensing application and pay the required licensing fees. 7. Complete the real estate license exam with a minimum score of 70.
8. Complete post-licensing classroom hours within the set timeline.
Real Estate Schools
You can find a list of qualified real estate license education providers on the Texas Estate Commission (TREC) website. Champions School of Real Estate in Dallas and The Dallas Board of Realtors (METROTEX) are some of the popular choices. Other options include local colleges, private real estate schools, and online providers.
The following classes are mandatory if you wish to earn a Texas real estate agent license:
· Principles of Real Estate - 60 classroom hours.
· Law of Contracts - 30 classroom hours.
· Law of Agency - 30 classroom hours.
· Real Estate Finance - 30 classroom hours.
· Promulgated Contract Forms - 30 classroom hours.
After completing all the required classes, submit your application and attach copies of your education course completion documents.
Requirements for a Texas Real Estate License
The Texas Real Estate Commission issues new Texas Real Estate Licenses to successful candidates. But getting a Real Estate License doesn’t make you a Realtor. The National Association of Realtors gives the designation of a Realtor. Each license applicant has to undergo a series of background checks, licensing classes and final exams to get a Texas Real Estate License. The timeline for obtaining your Real Estate License in Texas is roughly 3 to 4 months.
There are several costs associated with becoming a Realtor. An application fee of $205 is mandatory for all applicants. Besides, a subsequent background-checking fee of $29.75 is required if you have previously been fingerprinted for TREC. You will pay a $20 processing fee if you submit your application by mail instead of online. Paper document submissions for a transaction that’s available online have a $20 paper-processing fee. All fees are non-refundable.
Tip: It’s advisable to apply online as the system is faster than a paper-based application. The paper-based application is prone to delays in communication, data entry, and processing cheque payments.
Taking the Test
You can proceed to tackle the exam, once the application process is complete. Pearson VUE, an independent service company, administers this test. You’ll receive a message on your exam eligibility along with instructions for contacting an exam administrator. You will also receive a Candidate Handbook which contains exam information, study materials, and instructions for making an exam reservation.
The exams are split into two sections, a state, and national section. You need a score of 70% or more to pass. You must pass both sections to qualify for a Texas Real estate License. You Have your License, Now What?
Once you pass the Texas Real Estate exam and receive a license from the state, you are simply an agent. To have MLS access and sell residential real estate, you need to join a local Board of Realtors. To get MLS access you must be a member of both the National Association of Realtors and the Texas Association of Realtors. Local Realtor boards are an extension of the National Association of Realtors (NAR) and Texas Association of Realtors (TAR). These boards represent the local level of the national and state associations.
Find a Broker to Sponsor
You Most states including Texas require Real Estate agents to have a sponsoring broker with an active license to sponsor you as a sale agent. A sponsoring broker will teach you the ethical procedure of practicing real estate. The sponsoring broker will also lead you through your first contracts, support you, and help you grow in your new career. When seeking an interview with companies that interest you, it’s advisable to write a letter of introduction that explains your background and career goals.
You should consider several factors when choosing a broker. During your interview, always remember to ask the following questions:
· What is the commission split?
· Does the brokerage provide training or mentorship?
· What type of support will you receive? Will you have to do your own advertising, brochures and business cards?
· Does the broker have full-time and part-time agents?
· Technology provided
What is the average tenure of an agent? As you may have noted from this article, a career in real estate is both exciting and rewarding. Attaining a real estate license, and becoming a Realtor in Texas is not difficult if you follow the steps outlined in this article.