Real Estate Training
Training is a must for anyone interested in starting a career in the real estate industry and can be beneficial for those looking to improve their skills, or move up the career ladder from real estate agent to broker. Most people start their careers in real estate as an agent. To do so, they must obtain a license from their local real estate licensing department and then be hired by a broker at a real estate agency.
While the license requirements are different for each state and province, applicants usually need to complete 30 to 90 hours of class work and then pass a written licensing exam. The exam covers a range of topics including knowledge of English, arithmetic common to real estate transactions, the obligations and ethics of real estate, property evaluation and local state or provincial law as it relates to real estate and business practices.
Typically students must attend class sessions in person, however, a few places now accept correspondence and online training programs. The best way to find out which programs are acceptable is to contact the real estate licensing department in your state or province. If you intend to work for a specific real estate agency, contact that company to learn which training programs they recommend. In addition to attending classes, students can also purchase interactive CD-ROMs that provide practice exam questions specifically generated for their jurisdiction. The local library or bookstore may also carry training manuals to help students prepare for the licensing exam.
Whether they focus on residential, commercial or industrial properties, agents are responsible for helping their clients through the process of buying and selling a property. For most agents training is ongoing. After obtaining a license, many real estate agents take further training to improve their selling techniques or to specialize in a specific aspect of real estate. In most areas agents are also required to renew their license every two to four years by retaking their written exam. This ensures that agents keep up with the latest changes in real estate law and other aspects of the business. After about three to five years of successful work as an agent, realtors are eligible to take a broker exam. As a licensed broker, they can establish an independent office and hire their own agents.
Before registering for a training program confirm that it is endorsed by your local licensing department and make sure the course materials will adequately cover all the topics that will appear on your exam. While covering the exam topics, a certified pre-licensing training program can include topics such as rights and interests in land, mortgages and lending practices, government programs and appraisal, ownership and title transfer, and the client/agent/broker relationship.
In a broker training program learning focuses on how to make your business legally valid by keeping accurate records, following the agency disclosure requirements and setting up trust accounts. Common topics in broker training include accounting, personnel, agency planning, legal liabilities, and fair housing practices. Keep in mind, there is a fee for writing any real estate licensing exam. Some programs include this fee as part of your tuition and schedule your exam for you. Others may expect you to pay the fee and book your exam independently.