“Million Dollar Listing” is a great show to watch, but when it comes to reality, being an Real Estate Agent is different than that!
The good news is that the economy reversing and the housing is market rallying which means NOW is a great time to get a real estate license. At Charles Rutenberg Realty we receive inquires every day from many people who are thinking about becone an agent. We’ve put togheter a list of the most common questions we receive for your convenience.
Here’s what every prospective Realtor should know and plan for before getting started:
- Why Do I Need To Take Real Estate Courses? Real estate courses are designed to ensure you are conversant with local, state, and federal regulations regarding every facet of a property sale. Some typical items these courses cover include: your rights and responsibilities as a real estate agent, how to sell a property correctly, understanding zoning laws and regulations, the importance of continuing education, consumer advocacy so you can represent your clients professionally and ethically.
- How Do I Get My Real Estate License? After you complete any real estate classes and studies required for Long Island, you then take a test and apply for licensing. You will have to take additional courses even after you receive your real estate license.
- Why Do I Need A Brokerage? In N.Y. real estate agents are required to be affiliated with a brokerage for consumer protection purposes. However, all brokerages are not created equal. You should always check the following criteria at a minimum to ensure your brokerage is a good fit for you and your style: How much experience does this broker/firm have? What is the broker’s reputation? How do agents and clients who have worked with this broker previous found the experience? How long will it take for me to start earning commissions? Will I have a brokerage-assigned mentor while in training?
- How Much Can I Expect To Make? A lot depends on where you’re practicing, what the market is like in your area, and your own personal attributes. Strong salespeople can expect to make six figures and up per year, while agents who are part-time may only make a few thousand dollars per year. Be sure to keep up with trends in your market, as well as more “upscale” markets that may be nearby.
- But I’m Working For Myself, Right? Technically, each real estate agent or Realtor is independent, so you do have the option to set your own hours depending upon your brokerage’s requirements. You should keep in mind that the harder you work, the more commission you’re likely to see.
In order to be a Long Island Realtor, you’ll first need the New York State required 75 Hour Real Estate Sales Licensing Course. After that, LIBOR offers skill training programs to include a “3 Day Up and Running” course which is FREE to our licensing graduates. Real Estate 101 for New Agents”. Taught by a national real estate trainer, this course is known to be one of the BEST courses for new agents in the country!
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