If you want to go into real estate, you will need a license. Learning how to get your real estate license in Wisconsin is the first step. You need to understand this process if you want to become a real estate agent.
Becoming an agent in Wisconsin isn’t difficult. However, it does require the right education and plenty of study time. Before you decide to get your real estate license, you should know what agents do. Let’s look at the job duties of a real estate agent and the salary they earn.
Job Duties of a Real Estate Agent in Wisconsin
When you become a real estate agent in Wisconsin, you will take on many responsibilities. You will work with buyers and sellers, along with potentially working with renters, as well. You can even work with buyers and sellers of commercial property or land.
As a real estate agent, you will take on the following job duties:
- Helping buyers and sellers through the entire real estate transaction process
- Providing referrals for financing, attorneys, and other professionals
- Showing properties to potential buyers
- Holding open houses
- Marketing homes for sale through social media and other marketing avenues
- Researching your local neighborhoods and learning the local real estate market
- Completing the necessary paperwork throughout the process
- Negotiating for clients
There are many duties you will take on as a real estate agent. You will work under a broker, which means they will help you with many of the tasks, at least when you’re a new agent.
Salary of a Wisconsin Real Estate Agent
The salary you will earn will depend on how successful you are. Most real estate agents are paid on commissions only. Salary.com puts the median yearly earnings for a Wisconsin real estate agent at about $43K. The range is from $41K to $65K.
However, both ZipRecruiter.com and Indeed.com have a much higher average salary. Indeed.com puts it closer to $88K, while ZipRecruiter has it around $86K. If you work for a top real estate firm in Wisconsin, you can earn more than $100K per year.
How To Get Your Real Estate License in Wisconsin in 6 Steps
Step #1 – Meet the Basic Requirements
Before you can start the process to get your Wisconsin real estate license, you need to meet the following requirements:
- Be at least 18 years of age or older
- Have a high school diploma or GED
- Be a legal citizen of the United States or a lawfully admitted alien
If you meet these requirements, you can move on to the next step in the process.
Step #2 – Complete the Pre-Licensing Course
The state of Wisconsin requires you to complete the 72-hour pre-license education program. The course you choose needs to be approved. You complete this course online with a self-paced option or even a live classroom-type option.
You may want to choose a provider with good exam preparation materials. The exam isn’t easy and a good exam prep option can really help. Some providers even offer a pass or don’t pay type of guarantee.
Step #3 – Pass the Real Estate Exam
Once you complete the pre-licensing exam, you have to pass the real estate exam in Wisconsin. you will pay $65 per attempt for this test. If you don’t pass, you will have to pay a second time to take it again.
The Wisconsin real estate exam has 140 questions and you have four hours to complete it. You need to get 105 questions correct to pass the exam.
Once you complete the exam, you will receive your score. If you fail, you will also get a breakdown of the areas where you didn’t do so well. This can help with studying for your second attempt.
You will need to register for the real estate exam through the Pearson VUE Wisconsin real estate website.
Step #4 – Complete the License Application
Once you have passed the exam, you can move on to completing your licensing application. This application needs to be filled out and submitted to the Department of Safety & Professional Services. You need to do this within one year of receiving a passing exam score. The application also needs to have your employing broker’s certification.
You need to send a $75 Initial Credentialing Fee, along with a copy of your certificate of completion from the pre-licensing course, and evidence of your passing exam score with your application.
Step #5 – Pass the Application Review
After passing the exam and sending in your application, you will need to wait. There is nothing else for you to do while you wait on the application review process. It usually takes anywhere from five to ten business days to complete.
After your application has been reviewed, you will receive an email with your license document.
Step #6 – Find Real Estate Sponsorship
When you fill out your real estate license application, the top section of page 3 should include your prospective firm. However, if you don’t have a registering firm when you get your license, you will need to fill out the Notice of Licensee Associated with Firm form and pay a $10 fee. This form will state the broker you will be working with.
Frequently Asked Questions About Getting Your Real Estate License in Wisconsin
Is the Wisconsin real estate exam difficult?
About one out of four people will fail the exam on their first attempt. This isn’t an easy exam to pass. However, with the right study habits and exam prep materials, you can pass the exam the first time.
What is the cost to get my real estate license in Wisconsin?
You will pay $150 in fees to get your real estate license. This doesn’t include the cost of pre-licensing materials. This course can range from about $350 to $630, depending on the provider and the package you choose. The total cost will be around $500 to $780 to get your license.
These fees don’t include any additional costs, such as the cost to join the multiple listing services or a professional association. You may need to pay these fees once you get your license.
How long will it take me to get my real estate license in Wisconsin?
Most people will take three to six months to complete the entire process. However, you can complete the pre-licensing course in just two weeks, if you work at it full-time. It’s possible to get your real estate license in four to six weeks if you do this.
However, if you rush things, you might not pass the exam. Make sure you are fully prepared for the exam before you take it. Failing the exam will cost you money and time.
Does Wisconsin offer any reciprocity with other states?
No, the state of Wisconsin doesn’t have a reciprocal agreement with any other state allowing you to skip all the pre-licensing education. However, if you have held a real estate license in Indiana or Illinois for the past two years, you won’t need to do nearly as much. In this case, you will need to complete only a 13-hour pre-licensing course and pass the exam.
Do I need any experience to become a real estate agent?
No. You can become a real estate agent with just a high school diploma if you complete the steps above. Sales experience can be very beneficial, but it’s not necessary to become an agent.
What are the work hours like as a real estate agent?
If you become a real estate agent in Wisconsin, you can expect to work odd hours. You have to cater to client needs, which means lots of meetings in the evening or on weekends. Most open houses are held on weekends and most showings will be done on the weekend, as well.
Will I need to complete continuing education hours?
Yes, when you need to renew your real estate license in Wisconsin, you will need to complete continuing education hours. Every two years, you will need to complete 18 hours of continuing education.
It’s common to find pre-license education providers that will include CE credits in their packages. This can be a helpful way to make sure you get everything you need for your first few years.
How will I get paid as a real estate agent?
Most agents get paid commissions when they help a buyer or seller close on a home. However, in some cases, you may get a small salary and commissions in addition to that salary. It’s more common to find a job as a real estate agent earning 100% commissions, however. The commissions can vary, depending on your broker.
If you want to work in the real estate industry, you will need to learn how to get your real estate license in Wisconsin. With the steps above, you can obtain your license and start working as an agent. It’s not difficult to get a real estate license, but it will take some time and effort on your part.
