ANSWERS: 6
  • (newzelda: His question didn't ask for a specific state, so I didn't answer for a specific state, you putz!) (anonymous: yes, you are absolutely correct that it is illegal to tell a seller that a given percentage is "typical" or "customary" or "conventional", etc, etc. [and the prospective agent will learn that in the licensing course]. But what word should I use to give someone in Answerbag an answer telling him what sort of compensation to expect as an agent? Thus I said that 6% is "typical," which, in fact, it is. And, BTW, how does Foxtons get away with advertising 3% commissions?! That should be a violation of the law too!) Now, on to my original answer... This may vary by state. But typically you take a 2-week course which costs about about $200 to $500. If you get offered a job with a broker contingent on getting your license, they will often pay for the course or at least reimburse you for it when you start. After you finish the course, you take a state licensing test (very similar to taking a written driver's test). Getting the licence is fairly easy. Then the hard part begins! Yes, the hard part is selling houses! It's a SALES job with all that implies...cold calling...working nights, weekends, and holidays...sitting open houses Saturday afternoons...dealing with lots of "interesting" people (hauling their butts across the county every day for a week, then telling you they changed their mind about wanting to buy a house...). Some companies will send you for sales training, and others just put you in a real estate office to sink-or-swim... For most agents, it's strictly commission. The typical commission that the seller pays is 6%. Half of that goes to the seller's broker, and half of that goes to the buyer's broker. So the seller's broker gets 3% and the buyer's broker gets 3%. The broker gives half of that to the agent, so the seller's agent (a.k.a. listing agent) gets 1.5%, and the buyer's agent gets 1.5%. If the same agent lists a house and then sells it, that agent's broker gets the whole 6%, and the agent get's the whole 3%..
  • You have to be older than 18. you have to have a high school deploma have a license in the state you are working for and to get the licence you have to take a written exam. have 30 to 90 hours of instructional information too.
  • You don't need college to obtain your real estates license. It's generally a program you can do online or at a local learning center. A college degree never hurts though!
  • In most states, you have to be 18 years and have a high school degree or GED. Many real estate companies require higher education for their workers. For more info consult this link: http://www.bls.gov/oco/ocos120.htm
  • I got a license in about 8 weeks of 2-hour sessions (if I remember correctly), once a week, passing the class, then taking the exam for my real-estate license. This way YEARS ago. I believe now, to maintain the license requires continuing education in real estate. I believe these are like 2-day classes/seminars/etc. I suggest you contact your local Realtor®, or your state's licensing agency, and ask them. I'm sure they have lists of people offering the classes to get your license, and may be able to tell you about continuing education requirements.
  • as long as it takes you to order the packet through the mail learn it and pass the test

Copyright 2023, Wired Ivy, LLC

Answerbag | Terms of Service | Privacy Policy