A career as a real estate agent can be exciting and fulfilling and can offer something new every day.
Many people think about entering real estate, but knowing what’s involved before starting is essential. First and foremost, you should know the basic requirements needed to become a licensed real estate agent. First, you must be at least 18 years old, and second, you must be either a U.S. citizen, a non-citizen national, or a qualified alien under federal law.
If you meet those requirements, these are the seven crucial steps it takes to become a licensed real estate agent in North Carolina.
Purchase a comprehensive book on real estate licensure in North Carolina. A search on Amazon or Google can reveal some titles, or you could consult with your local library, a real estate licensing school, or the North Carolina Real Estate Commission (NCREC) for guidance.
Some titles you can look for include North Carolina Real Estate License Exam Prep, Modern Real Estate Practice in North Carolina, and 4 Practice Tests for the Real Estate Exam.
As the real estate licensing exam can be highly challenging, it’s a good idea to study as much as possible beforehand.
Next, you will have to take a 75-hour, state-approved pre-licensing course. These classes are usually taken in-person without online options, so be prepared to invest time and effort. The NCREC website has a list of approved schools where the course can be taken.
Should you already have an active real estate license in the U.S. or Canada, you might be able to waive the pre-licensing course, although you must still pass the state exam.
Fill out the license application entirely and check it twice for accuracy. Any missing information will only end up getting the application returned to you. You will also need to submit a criminal record check and pay a non-refundable application fee ($100 at the time of this writing).
Within a few days of submitting the license application—so long as there were no complications—you should receive a notice of exam eligibility from the NCREC. If you haven’t already started to prepare for the exam, then this is the time to do so. You’ll have 180 to pass the exam. Remember, this exam is not easy. It would help if you gave yourself time to understand the concepts and memorize the terminology thoroughly. Flashcards can be helpful in this instance.
Note that you must pass with a 75% or higher score to be successful.
When you’re ready (and before your time is up), you will need to schedule a time to take the state exam and pay a $64 non-refundable exam fee.
The exam comprises 110 questions broken down into two sections: National and State. To get a passing score of 75%, you must answer 82 out of the 110 questions correctly. You will have 4 hours to complete the exam.
Should you happen to fail, you can re-take the exam. Likewise, you can apply to re-take the unpassed section if you pass one section of the exam but not the other. The only catch is that both sections must be passed within 180 days of receiving your eligibility notice, and you will have to pay the application fee and exam fee again.
Once you’ve passed the state exam, you will be considered a “Provisional Broker.” To remove the provisional status, you’ll need to complete 90 hours of post-licensing education in a classroom. You’ll have three years to accomplish this. You will also have to complete eight hours of continuing education each year to keep your license active.
It’s not the cheapest thing in the world, but it’s doable. As with any business venture, you’ll need to budget the start-up costs and be prepared for the process to take between four and six months to complete.
General costs can break down like this (approximately):
Other expenses vary too greatly to list specifically. These include real estate membership dues, business expenses, and marketing costs.
With so many people moving to the Charlotte area, it’s a great time to become a licensed real estate agent. If you’re already a licensed agent from outside of Charlotte, contact the NCREC to make sure you’re authorized in the Charlotte area and what additional steps you may need to take.
Once you have officially received your real estate license and you are looking for an excellent team to join, learn more about Henderson Properties Realtors!