Everyone wants to have a fulfilling career. The salary aspect is also quite appealing. Well, what better way than to become a real estate agent. You get all that at one go. And what is more, you will never forget the big wins you have with potential clients. It’s pure bliss.
Becoming a real estate agent in Louisiana is relatively easy. But you still need a Louisiana real estate license. And you should get one before you start working. Although the process of acquiring a Louisiana real estate license is relatively upfront, there are still fees to pay and particular requirements to meet. And it would help if you also kept in mind that your position will be that of a real estate salesperson at first. You can always get a broker’s license later on.
The process entails several steps that you should be knowledgeable about as well. You should also be aware of some costs of getting the license and the requirements. We discuss that. Read along to find out more.
Here is a step to step guide to get you started;
1. Fulfill the detailed requirements
There are specific, precise requirements that you need to meet to start the real estate agent journey. The first of these requirements is your age. Anyone 18yrs or above is eligible to become a real estate agent. Even if you took college courses on real estate while in high school, you are not 18yrs yet, you do not qualify.
The second requirement has a high school diploma. Or you can have at least an equivalent of a GED certification. And more importantly, you need to be a legal citizen of the US to qualify. Suppose you are a foreigner; you need to be legally in the country.
But your criminal record also matters. You can submit a legal criminal history and background report. You will also require a certificate of completion of the pre-license course, a duly filled application form for the license, a sponsoring real estate broker, and insurance of errors and omissions.
But one requirement you should not take lightly is the Louisiana state real estate exam. It pretty much carries the weight of your real estate agent career.
2. Completing at least 90hrs of real estate pre-licensing course
Possibly, you didn’t get a chance to graduate from a Louisiana real estate school. Even so, you need to take a Louisiana real estate course. And don’t worry, there are quite a few places you can finish your course, online or on land.
But while choosing a course provider, the one you choose must be approved by the state of Louisiana real estate commission (LREC). It would be best if you also put into consideration your working schedule.
For a full-time course, you may get a Louisiana real estate school that divvies up the training in portions and allows you to cover all in the schedule. Depending on the school you choose, the course may have at least 20 to 30 classes.
But if you are working and it’s difficult for you to keep up with face-to-face learning, you should consider getting a course provider that offers online classes and enables you to finish your pre-licensing course.
The Louisiana real estate course is essential to carving the best real estate agent. It also prepares you for the real estate training and education that is to come. And, of course, to help you adequately prepare for the real estate licensing exam to come.
This step may sound like a lot of work. But once to start, you will realize that the process isn’t as formidable as it first appears. But you can be sure that it will help you know if this is the right career path for you. You never know; you may decide otherwise.
3. Course final exam
You will also need to pass the training exam for you to move to the next level. But before you do that, there is an important step you shouldn’t skip. And that is registering for an account with the LREC’s online license administration system provider.
Although many people tend to ignore doing this, it is still vital. That is because it makes your license acquiring process a lot easier. When you register for the account, you get an account ID.
With that, your course provider can easily report your course completion and give you an edge. But more importantly, the state can track your real estate education before you get a license. Now, let’s get back to the course final exam.
If you did your course online, then the provider can guide you on taking the test in person. For someone who completed the course in a Louisiana real estate school, then you can take the test there. You will then get a certificate of completion.
Without the certificate of completion after this exam, you cannot move to the next step. Most course providers set the minimum pass mark at 75%. And the training exam will contain at least 75 questions depending on the provider. These questions cover all whatever you covered or learned during the course.
4. Louisiana real estate exam
The training exam isn’t the only one you will take. You will need one more before you finally make it. It would help if you studied diligently for this next exam. In Louisiana, the PSI governs this exam. And it covers both the national real estate requirements and the state.
You will have at least 1hr 45mins to complete the national section of the exam and another 1hr 15mins to cover the Louisiana state’s portion. And the two areas have 80 questions and 55 questions, respectively.
Although the exam isn’t that difficult, you may still need help revising for it. That is why you should consider a pre-license course provider that offers more than just the course. The package should also include exam prep materials.
During the exam, you should carry with you at least two forms of ID cards. And you should ensure that the names on each are the same and have an identical signature. You can carry your social security card, passport, driving license, a green card, a debit card, or credit card for the IDs. It will also be wise to bring with you a non-scientific calculator.
5. Getting a real estate broker to sponsor you
For you to get a license, you will need an employer or a sponsor. The best way is for a real estate broker to employ you. The broker you choose needs to be the right one because they will also take a mentor’s role in your real estate world journey.
To help you decide the best broker for the role, you can do some research on them. You should find out their reputation at the national level and state as well. But considering the type of real estate the brokerage firm is looking for, you should also find out if it’s what you want.
More importantly, you should determine if there is any form of training program and support in the firm. That way, you will be able to learn on the job and grow your career. Other things to consider are the benefits of working with them, the commission structure, the room for growth, and the marketing materials. The journey isn’t going to be comfortable, and any added advantage is welcome.
6. Get insurance
Getting an errors and omissions insurance is a must for you to get your license. Part of the requirements is that it has to be active when applying for the permit. This insurance is critical to both you and the firm you will be working in.
It will protect you and your firm against claims by clients. These claims include shoddy work and careless actions.
7. Finish the application
The next step is to fill the application form for the license. You can easily find the documents online. And the cost for a real estate salesperson at this step is at least $45.
The overall cost of getting the entire process done, step by step, is around $500 and $1200. That cost covers all your needs, including the pre-licensing education, background history check, exam fees, and licensing fees.
The process of getting a license and finally becoming a real estate agent may seem quite frightening. But with the right guide on how to go about it, it all becomes straightforward and easy. If you’re thinking of changing career paths and becoming a real estate agent or freshly out of college, you can follow these comprehensive steps to get a Louisiana real estate license. And make you dream a reality.