Real Estate Licensing

Everything you need to know about getting your real estate license.

It’s no secret that real estate is a booming industry! In fact, it’s likely that the real estate market is only going to continue to grow in the years to come. So, if you’re thinking of starting a new career or have always wanted to jump into the real estate agent life, now might be the perfect time to get your real estate license!

But where do you start? That’s where we come in. In this article, we’ll walk you through everything you need to know about getting your real estate license – from the basics of what it is and how it works, to what you need to do in order to qualify for licensure. We’ll also give you a few tips on how to get started in your new career. So read on for all the information you need to get your real estate license!

What Is a Real Estate License?

A real estate license is a credential that allows an individual to legally practice the profession of real estate in their state. To obtain a real estate license, an individual must successfully follow and complete a few key steps. To help you get a general idea, here’s a simplified rundown of the licensing process:

  • Complete the required hours of approved pre-licensing education
  • Pass the state-approved Real Estate License Exam
  • Fill out and submit the license application
  • Choose a Real Estate Broker to work with

Once an individual has finished these steps, they will be able to use their license and legally work as a real estate agent in their state. (Be sure to keep in mind that requirements may differ slightly depending on the state in which you live and plan to work as a licensed real estate agent.)

Where Do I Start?

There are a few basic things to think about before jumping on the real estate express.

Make Sure You Meet Basic Qualifications

In the state of Utah, three basic qualifications must be met before you can get your license.

  • Meet statutory licensing qualifications of integrity, honesty, truthfulness, competency, and reputation.
  • Be at least 18 years old when you apply
  • Have a minimum of a High School diploma or equivalent

Consider Your Individual Timeline

After you’ve found you meet the basic qualifications, one of the first things you should do is sit down and create a timeline for getting your real estate license. The average time it takes to finish pre-license education is around 4-6 months, but it can sometimes be completed as quickly as 8 weeks. Depending on how quickly you want to get started in your new career, you might want to set a goal of completing the licensing process within a certain number of months. Consider how much free time you’ll have to dedicate to getting your license and plan to go at your own pace- whatever you’re comfortable with. Just remember that every situation is different. Some people might be able to complete the process more quickly than others, while some may need more time and there’s nothing wrong with that.

Think About Your Career Goals

It’s also important to think about your goals for your new career as a real estate agent. Do you want to work with buyers? Sellers? Renters? Do you want to specialize in a certain type of property, such as residential or commercial properties? Consider your overall goal and think about the steps you’d like to take so you can reach it.

Determine Your Budget

Another thing you’ll need to think about as you start the process of getting your real estate license is the cost. There are a few different fees associated with obtaining your license such as the cost of pre-licensing education, the state licensing exam, and the license itself. It’s important to create a budget so you can be prepared for the financial investment required to obtain your license.

Choose a School

There are a variety of real estate school options to choose from. Some people opt to go through an online real estate school, while others prefer in-person classes. There are Pros and Cons to both types of courses, depending on things like your budget, time availability, learning style, and location. You’ll want to make sure the school of your choice is accredited and approved as a Real Estate Pre-License School as well. Some schools also offer practice tests and exam prep in addition to the required coursework. So, do some research beforehand and figure out which option is best for you.

If you’re looking for an online real estate school with great reviews, flexibility, and a variety of online courses, Arti Academics could be right for you. Not to mention, it’s free! Plus, it offers a mobile app so you can take your coursework on the go.

Real Estate Courses

Next, you’re ready to enroll in your chosen real estate courses. In Utah, it’s required to complete 120 hours of real estate education. These hours will be filled with classes about the legal and financial processes of real estate sales. Examples include property management, contracts, ethics, real estate finance, property appraisals, Utah laws, and federal laws.

Follow The Steps to Earn a Real Estate License

Since real estate licensing requirements vary depending on the state, it’s important to follow those set by the state in which you plan to practice real estate. The overall steps are generally the same, but some of the specific details may change. So, here we will focus on getting a real estate license in the state of Utah.

Complete Pre-Licensing Coursework

The first official step you need to follow is to complete the required hours of pre-licensing education. In Utah, this means completing a total of 120 hours at an accredited real estate school. As mentioned earlier, this will include courses in real estate transactions, property management, ethics, law, and more. Once you’ve completed your education requirements, you can then schedule to take the state’s licensing exam.

Pass The State-Approved Real Estate License Exam

After you’ve completed your pre-license education, you’ll need to pass the real estate licensing exam. This is a state-approved sales agent exam that tests your knowledge of the concepts covered in your coursework. You must receive a passing grade before you can apply for a license.

Submit Your Real Estate License Application

Once you’ve completed the required education and gotten a passing score on the real estate exam, you can apply for your license. Keep in mind that there is a time limit on applying for a real estate license in Utah. You must have completed your pre-license coursework within the past year and passed the real estate exam within the past 90 days.

To submit your license application, you’ll need to gather a variety of documents to send in. This includes the Utah Real Estate Sales Agent Application, Qualifying Questionnaire, consent to a background check, proof of your completed education, and a non-refundable fee of $157. You’ll also need to be fingerprinted as part of the application process, which is most often done right after completing the exam at a Utah testing center.

Choose A Real Estate Broker

After you’ve obtained your real estate license, you’ll need to choose a brokerage to work for. A real estate broker is someone who supervises and oversees all transactions made by real estate agents. They can help guide you and answer any questions you might have as a new real estate agent. You’ll also share a percentage of your commission with your broker, so be sure to ask about the commission structure before joining just any team.

Take Advantage Of Your Real Estate License

You’ve done it! You’re now a licensed real estate agent in the state of Utah. All that’s left to do is get started in your new career. Use the resources and connections you gained during your education and broker interviews to help get your business off the ground. And don’t forget, you can always renew your real estate license every two years as long as you complete the necessary continuing education requirements.

 

Ready To Become a Licensed Real Estate Agent?

By following these steps, you can obtain your Utah real estate license and begin your career in this exciting industry. Just remember to stay up to date on the latest industry news and trends and always put your clients’ best interests first. Good luck!