Steps to Becoming a Real Estate Agent
To become a licensed real estate agent in Indiana, follow these steps:
- Complete the 90-hour pre-licensing Broker course. To be eligible, you must be at least 18 years old with a high school diploma or its equivalent. While you won’t need to submit your diploma, you will need to confirm this information on your state application. If you are a legal alien without a permanent residency card, contact the Indiana Real Estate Commission at 317-234-3022 or email them at pla5@pla.in.gov to ensure your license can be processed.
Passing the Exams
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Pass three multiple-choice tests, each consisting of 100 questions with a total of 225 points or 75%.
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Successfully complete a State Examination administered by the PSI state testing facility. The exam fee is currently $53.00.
Licensing and Company Selection
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Once you’re ready to activate your license and work with a real estate company, submit your paperwork and pay the $60.00 fee to the Indiana Professional Licensing Agency. You have one year to complete this step; otherwise, your license will be held inactive until you make further arrangements.
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Start interviewing with companies that offer training programs and provide supportive managers. Look for offices that prioritize your growth and development.
Joining a Board of Realtors
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Join your local board of realtors. In Indianapolis, the Metropolitan Indianapolis Board of Realtors (MIBOR) is the designated organization. To become a member, you’ll need to pay a one-time application fee of $400.00, as well as prorated membership and technology dues. Membership dues are $744.00 per year, while technology fees amount to $456.00 per year (or $245.50 twice a year). Depending on the month you join, costs may range from $1,000 to $1,700. Be sure to inquire about commission splits and any additional fees during your interviews with different companies.
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Clarify the expectations set by your chosen company. Understanding their requirements will help you determine if it’s the right fit for you.
Essential Attributes of a Real Estate Broker
What are the key attributes that make a successful real estate broker? Here are some qualities to consider:
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Organization Skills: Real estate is a field where the rewards are directly proportional to the effort invested. Being organized and consistent in your efforts will lead to greater success.
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Communication Skills: Understanding and meeting clients’ needs is vital for a sales associate’s success. Effective communication, especially active listening, is essential for achieving this.
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Confidence: Top-notch sales associates possess the self-assurance needed to help clients achieve their real estate goals.
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Emotional Stamina: Overcoming resistance and maintaining a positive attitude is crucial in the sales profession.
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Physical Stamina: Listing and selling properties requires hard work and flexibility in terms of working hours.
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Relationship Support: The families of successful sales associates provide the confidence, trust, and understanding necessary for a real estate career.
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Financial Stability: Having sufficient savings to support yourself during the initial months of your career allows you to focus on real estate without financial stress.
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Team Player: Real estate sales associates are independent contractors who collaborate with various professionals daily. While they operate independently, they are also integral members of their company’s team.
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Change Manager: The ability to adapt quickly to the fast-paced and ever-changing real estate industry is vital.
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Service Oriented: Excellent real estate associates understand that client satisfaction is the key to lasting success.
For more information about starting a career in real estate, visit Garrity Traina’s website here.
