How Much Does It Cost To Get A Forklift License – So you might be a real estate agent! Very exciting! Before you know it, you’ll be on your way to a great career. You’ll just have to jump through the first few hoops, like taking a pre-license course, passing the state license exam, and paying the necessary fees to get your license. And all of those things cost money, but that will cost you little compared to the incredible earning potential you’ll get as an agent!
This post will walk you through how much a Virginia real estate license costs and how much you need to budget for success as an agent.
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The first step in your journey to get a real estate license in Virginia is to take the state-required 60-hour pre-license course.
You can enroll in courses at any residential school approved by the Virginia Department of Professional and Occupational Regulation (DPOR). Residential schools vary in terms of curriculum, student support, and fees, so spend a little time comparing schools to find the best option for you.
Once your course is complete, you can apply to take your real estate exam and get your real estate license. The cost of the current exam for a sales agent license is $60 per business. It is a difficult test, and many people need two or three attempts to pass it. This is why the test pass rate is so important when you are choosing your residential school. You want to give yourself the best chance of passing your first attempt. Going through the first attempt will save you time and money.
The initial sales agent application fee for a real estate license is currently $170. You must have this license to practice as a real estate agent.
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In addition to the application fee, you will pay a $52 fingerprint fee. Anyone applying for a real estate license must be fingerprinted for a criminal history check.
Adding all these costs together, you should expect to pay in the neighborhood of $382 to $832 to get your real estate license in Virginia, the only cost variables being the real estate school you choose and how many times you take the exam.
New agents must work under a broker, and some brokers charge agents a monthly fee in exchange for office space, mentoring programs, and training.
You’ll want to join professional associations like the National Association of REALTORS® (NAR) and your city’s local real estate board. This organization offers tools and resources that can help you succeed as an agent. You don’t have to belong to NAR or VAR, but if you do, the cost for both together will be about $400 to $500 per year, plus an initial application fee of about $100 to $250.
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An MLS subscription is essential to your success as an agent. The subscription fee may be part of your local REALTORS® membership, or you may pay it yourself. Prices vary, but a subscription to a local MLS is typically around $65 per month.
You can start marketing for free on social media. You will need to budget some money for your printing needs like business cards, property flyers, signs, and mailers to advertise you and your property. You will also likely need a website and may want to spring for paid advertising in local newspapers and magazines.
After your first year as a salesperson, you must take 30 hours of CE. After that, you must take 16 CE hours per two-year renewal period. Brokers must take 24 CE hours per two-year renewal period. CE fees will vary widely.
Real estate is different from many other career paths. Real estate agents are usually not employees; they are independent contractors. This means you will likely be working on commission rather than receiving a fixed salary. You may have to pay for your own insurance and fund your own retirement.
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It takes time to close your first deal. You need to find your first client and see that deal through to closing before you collect a paycheck. This entire process can take two to six months. That means two to six months without income. According to the Bureau of Economic Analysis, the average cost of living in Virginia is $3,563 per month per person, so consider what you need to budget for when you’re starting out.
Adding all of these costs together, you should expect to pay at least $1,710 your first year as a real estate agent in Virginia.
Depending on the city where you live, you can potentially make $80,000 a year. Let us break it down for you!
With all these upfront costs, and a slow start to your new income, you may be wondering: Is my real estate license worth it?
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According to Indeed, the average salary of a Virginia real estate agent with one to two years of experience is $96,794, which makes getting a real estate license in Virginia worth considering.
If you can hustle to land lots of clients, and provide high-quality services, you can potentially make six figures in commission every year!
Say you have worked as a salesperson for a while, and you are ready to take the next step and become a broker. First you need to make sure you meet the qualifications. According to the Virginia Real Estate Board, “broker applicants must have been ‘actively engaged’ in real estate full-time (average of 40/hours per week) for 36 of the 48 months prior to applying.”
If you have the right to get a broker’s license and pass the broker’s exam, you will be able to run your own transactions and supervise salespersons and related brokers, which all translate into more income for you!
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Cost #1: 180-hour broker pre-license courses: About $850 Candidates Candidates must pass a Real Estate Brokerage course, as well as several other broker-specific courses. It’s hard to put a cost on the 180-hour brokerage course because there are multiple ways to complete the course, but a good estimate for the entire 180 hours would be around $850.
Cost #4: License application fee: $85 to $210 (Cost depends on whether you get your broker license by inspection or upgrade from salesperson to broker.)
A career in real estate is exciting, fulfilling, and flexible. And it also pays well if you are willing to work hard and keep it up!
It all starts with your real estate license. Upfront costs and time spent learning may be an obstacle for you to overcome, but the rewards will be worth your investment with our DPOR-approved real estate course. So you’re thinking about becoming a real estate agent? Great plan! It doesn’t cost much to get your real estate license in Georgia, and your earning potential is basically unlimited!
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According to Indeed, the average salary of a real estate agent with one to two years of experience is $88,501! That’s pretty amazing considering you don’t need an expensive college degree.
There are some hoops to jump through in order to become a real estate agent, but they won’t cost you much compared to what you can make. In fact, you can cover the cost of being a real estate agent in Georgia with commissions from your first real estate deal.
Enroll in our 100% Aceable online pre-licensing course and take advantage of our payment plan at checkout to help you finance your real estate career!
Overall, the cost to get your real estate license starts around $500. Let’s take a look at the difference in real estate license fees in Georgia and the requirements to get your Georgia real estate license.
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The first step in your journey to obtaining a real estate license in Georgia is to take the pre-licensing course required by the state.
Residential schools vary in terms of curriculum, student support, and fees, so spend a little time comparing schools to find the best option for you. When you are looking at residential schools, pay special attention to:
To apply for a license, simply submit an application to the Georgia Real Estate Commission (GREC) and a license fee of $170.00. This fee will cover you for four years of the license.
Next, you have to take the state exam. How many Georgia exams? The cost of the current exam for a sales agent license is $121 per business. It is a difficult test, and many people need two or three attempts to pass it. Going through the first attempt will save you time and money. This is why it is important to check the appropriate level when choosing a residential school!
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Anyone applying for a real estate license must pay for a background check through the Georgia Crime Information Center to check for criminal history.
Adding all these costs together, you should expect to pay around $500 to get your real estate license in Georgia, with the biggest cost variable being the real estate school you choose.
Georgia is a great place to live as a real estate agent. Find
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