Steps to Becoming a real estate agent
IMPORTANT TIP! know what is expected of you.
From your first step registering for class to the last steps of joining a real estate agency and local board of realtors, don’t forget to ask what is expected of you. This will help you determine if you this is the right place for you and your goals.
STEP 1) Sign up for Class
First, all real estate agents must complete a certified pre-licensing course. Our 90-hour Pre-licensing Broker Course covers all of the Indiana requirements to become a real estate agent. In addition, you must be 18 years or older with a high school diploma or equivalent. You will be asked if you meet these requirements on your state application.
STEP 2 ) Present Identification
You will also need to present a valid form of identification. Your real estate license must be processed to match your ID. If you are a legal alien but do not have a permanent residency card (green card), please contact the Indiana Real Estate Commission to make sure your license can be processed. They can be reached at 317-234-3022 or email them at pla10@pla.in.gov.
STEP 3 ) Pass the Class
You will need to pass a total of three tests consisting of 100 multiple choice questions with at least 225 points or a 75% score.
STEP 4 ) Pass the State Exam
Through the state testing facility PSI, you must pass a State Examination with a score of 75% or higher. This course through PSI costs $53 (as of 2022). If you would like a candidate handbook, click here.
STEP 5) Choose a real estate company
Start the interviewing process with companies you are interested in. Consider choosing a real estate agency that has an office where others can help answer questions you may have starting out. Some even offer training. Also ask what resources the company provides to help you market yourself as a realtor. You’ll also want to find out about commission splits and any other fees related to the company or local board during your interviews.
STEP 6) HAVE your license Processed
Once you have selected a real estate firm to join, you will need the Indiana Professional Licensing Agency to process your paper work and activate your license, which costs $60 (as of 2022). There is a time limit of 1 year to complete this step or the commission will hold your license inactive until you decide where to place it.
Step 7) Join your board of realtors
You will also need to join your local board of realtors. While specifics vary based on your locality, you will usually have a one-time application fee of several hundred dollars, plus annual membership and technology dues that may be pro-rated. Depending on the month you join, you could expect these to be anywhere from $1,000 to $1,700.
Attributes of a successful real estate agent
Change Manager
Real estate is fast paced and ever changing. You must be able to accept change and adapt quickly to succeed.
Communication Skills
In many cases, you will need to share a vision with your client to identify, understand and meet their needs. Communication skills, including listening skills are important to make this happen.
Community Ties
Especially starting out, networking will be an important aspect of growing your business. Reaching out to a wider circle will compound your success.
Confidence
Realize that you have the skills necessary to help people make their real estate goals a reality. Be confident in your expertise.
Emotional Stamina
Have the ability to overcome resistance and maintain a positive attitude.
Financial Stability
Having a savings or a financial plan will ensure you are able to live comfortably for the first few months of your career, allowing you to concentrate on your clients, not commission.
Negotiation
Your clients are counting on you as their ambassador. A wise realtor should be able to see the deal from both sides and make thoughtful business decisions.
Organization Skills
Mistakes, skipped steps, and inattention to detail can cause delays, exposure to risk, and lost opportunities. The more organized and detailed you are, the greater the rewards!
Physical Stamina
Hard work and flexible hours are required to make listing and selling properties a success. You will have to hold yourself accountable.
Relationship Support
Success also comes from the confidence, trust and understanding of your family. The nature of a real estate career is demanding.
Service Oriented
Happy clients will help your business grow. Service to the client, meeting their needs, is what guarantees success.
Team Player
You are an independent contractor but will be interacting with a variety of professionals on a daily basis, so it’s important to have a ‘Team Player’ attitude.
“Success in the real estate arena demands that you are fundamentally prepared and then seasoned with experience.”
— Joel Buzzard / Owner and Instructor at Troyer Real Estate School
THE LAW —
Indiana Law provides that all residents of the state (and some non-residents) have the opportunity to earn an Indiana Real Estate license provided they have a high school education or a General Education Diploma and have successfully completed other educational and testing requirements.
An exception to this rule exists dealing with individuals convicted of crimes that might have a bearing on that individual’s ability to be fair, safe, and honest with members of the public.
If an applicant has a previous felony conviction, and especially if that individual is currently on probation for that offense, the Troyer Real Estate School encourages the applicant to contact the Indiana Professional Licensing Agency for counsel prior to enrolling in a pre-licensing class.