Earning a living as a real estate agent takes much more than showing properties and networking with other agents. While those are great parts of the job, the folks at missourirealtors.org put it well: “Successful agents spend most of their time prospecting for clients, negotiating deals, managing inspections and repairs, resolving title and financing issues, and guiding clients through complex decisions.” Before you invest in the necessary licensing, it’s a good idea to spend time with an active agent to determine what the career actually requires. Be prepared to spend three to six months and up to $800 of initial investment in classes and fees.
If you’re ready to pursue your license, you will need the following:
- A Certificate of Satisfactory Completion from a 48-hour pre-exam salesperson course from an accredited Missouri real estate school.
- Pass both portions of the Missouri salesperson examination.
- Complete the 24-hour Missouri Real Estate Practice Course prior to submitting application for license.
- Be fingerprinted and pass a Criminal Background Check.
- Research becoming a member of the National Association of REALTORS® (NAR) in order to access important national and local resources, including the multiple listing service (MLS) in your area.
- Join a licensed brokerage which will activate your license with the state, allowing you to practice real estate legally.
- Determine the Errors & Omissions insurance necessary.
- Talk to an accountant about submitting quarterly taxes and legal write-offs.
- Invest in marketing tools to promote your business.
Now you’re ready! The best advice any successful real estate broker will give you is to find an experienced agent you really connect with on both a personality and business philosophy level.
A mentor is vital for you to begin establishing a strong and trusted reputation in a business in which poor reviews can be devastating.
Get out in the field to listen, observe, and try out your new knowledge. Family and friends often make good first clients since they are rooting for your success. Never stop asking questions of the experts…calling title companies, lenders, inspectors, and the real estate association should be a regular part of your day-to-day life as an agent. Working together to help a deserving client find their perfect property is very fulfilling. It is hard work, but before you know it, you’ll be celebrating with them on closing day for a job well done.
