• Low mortgage rates have led to a surge in the property market. 

• 85 of America’s top metros are seeing an increase in property sales. 

• Low inventory and bidding wars are making it harder for first time buyers to purchase  new homes. 

Some countries may face great economic difficulty as the severity of the pandemic starts to ease. In a time of unusual events, young and old Americans are buying up property and homes all across the States as mortgage rates hit an all-time low. The news around the booming property market isn’t anything new, as Redfin has already reported a 43.9% year-over-year increase of property buyers in 85 of the country’s most prominent metropolitans. 

As the old saying goes, if you can’t beat them, join them. The property market has become extremely lucrative, and many individuals are interested in becoming real estate agents hoping to cash in, as Americans buy up lots in some of the most popular neighborhoods. 

So what does it take to obtain a real estate license, and what does the process entail? Here’s a look at what it involves, and how long it may take you before you can make your first sale. 

Undergo pre-licensing education 

In many states, you will need to complete at least an average of 63 to 180 hours of an approved real estate program. Some states will require you to undergo pre-exam education, which includes the Principles of Real Estate, and complete at least 45 hours of practical courses. Course materials are state-specific, but educational material has to be approved by the Real Estate Commission.

Submit your licensing application 

Depending on state requirements and legalities, you will need to submit your personal information and pay the application cost which ranges from $40 to around $200. 

Submit your biometrics

You will need to submit your biometrics, these will include fingerprints and background checks on all personal information. Depending on where you reside, you may be allowed to make use of local law enforcement agencies or a third party. 

Complete and pass the licensing exam 

Once you’re ready, you can take the licensing exam. Each state governs which department or government entity regulates the course and examination. The passing rate is usually between 70 to 75 percent, and you have the opportunity to retake the exam if you do not pass the first time. 

Collaborate with a broker 

Once you’ve completed the exam, you must affiliate with a broker to market yourself and to gain client experience. Nearly all states require you to undergo a collaboration or perhaps receive sponsorship from a broker. 

Review of application and license 

When your exams are completed, and all necessary documents have been submitted, your application will go under review. Normally this might take a few weeks, and of course, there are instances where the board will require you to submit additional documentation. 

Finally

Once your application has been approved, you can now go on to join the National Association of Realtors and become a registered real estate agent. You will need to pay the registration fee and ensure you have made yourself comfortable with all the necessary regulations and requirements. Finally, you can now make that sale, and help someone find their new home.