The Best Reason to Become a Realtor in Missouri
Once you join the world of Missouri real estate, you will discover a lot of amazing advantages. Becoming a licensed agent gives you the ability to control your workload, schedule, and income. Not only will be your own boss, but you will be spending your time helping clients find their dream homes. You have a range of options to make money while maintaining control of your future.
Once you have the sponsorship of a broker and become a licensed agent, you can sell or rent homes throughout the state of Missouri. You will have access to different types of real estate, including office buildings, retail buildings, factories, and homes. If you are interested in investing in real estate, obtaining your real estate license is a great way to start.
Agents have access to resources generally unavailable to traditional investors. You do not even need a college degree to become a real estate agent in Missouri. You can be successful despite not having a lot of money or any experience in the industry. Real estate offers you an excellent career you can achieve fairly quickly without spending years paying off large student loans.
You can take classes online or attend Missouri real estate school without risking your job until you have received your license. Thousands of people have become real estate agents and have been delighted with their career choice. You do not spend your days stuck in an office with a boss breathing down your neck. You meet new people while you are showing properties.
You are there to see the excitement in your clients’ eyes when they find their perfect home. The requirements to obtain your real estate license in Missouri are straightforward and clear. You need to be a minimum of 18 years of age, complete a pre-examination course that is at least 48 hours, a practice course for a total of 24 hours, and then pass the real estate license exam for Missouri.
Even if you do not pass your real estate exam once your courses have been completed, you can take the exam three more times. If you are unable to pass on your fourth try for any reason, you can retake the pre-licensure coursework then register to retake the exam. If you apply yourself to your Missouri real estate training, there is no reason you should be unable to pass your exam.
Common Questions Regarding Obtaining a Real Estate License in Missouri
Q: Is fingerprinting a requirement to receive a real estate license in Missouri?
A: Yes, every applicant is required to pass a background check for federal criminal history, including fingerprinting. This means you are required to contact IDEMA to arrange your fingerprinting before you can apply for your license.
Q: Does Missouri offer licensing reciprocity for any other states?
A: Yes, reciprocity is offered by Missouri for all states provided you have completed your MREP or Missouri Real Estate Practice Course and passed the Missouri section of your real estate exam.
Q: Can I Obtain a Missouri real estate license if I am a convicted felon?
A: Your license can be denied if you are a convicted felon. If you already have your license when you are convicted, you can lose your license. This is determined for each case, depending on your conviction’s severity or how many years have passed since you were convicted.
Meeting the Requirements for a Real Estate License in Missouri
To receive your real estate license in Missouri, you must be a minimum of 18 years of age and prove a vendor approved by the state has fingerprinted you. You must also meet one of the following requirements.
You must complete a pre-exam course for 48 total hours and receive a Certificate of Satisfactory Completion. You must receive your certificate from a real estate school accredited by Missouri on or before the date of your exam. You must complete and pass the MREP and Missouri salesperson exam before you can apply for your license.
You can take your Missouri Real Estate Practice Course on or after the date of your exam. You need to take your exam before completing your pre-exam salesperson course. Once you have completed your course, you need to submit your license application within six months.
You must be a licensed attorney. Both portions of your salesperson examination must be passed. Your educational requirements will be waived. Your real estate licensing application must be submitted no longer than six months after you have passed your exam. You must submit a copy of your Bar card along with your application for a real estate license in Missouri.
You must have an active and current real estate license from a different jurisdiction, pass the Missouri salesperson exam’s state section, and have your MREP completed before you apply for your license. You can take your Missouri Real Estate Practice course before or after the date of your exam. Once you pass your exam, you need to submit your licensing application within six months.
When you apply for your license, you must include your current license with an issue date of no more than three months from the jurisdiction or state in which the real estate commission is located. A copy of your license will not be accepted; you must include the original.
Steps to Obtain a Missouri Real Estate License
You must complete four steps to obtain a real estate license in Missouri. Each step is outlined below.
The requirement for pre-license education includes two separate courses totaling 72 hours. You can take these courses online or at a Missouri real estate school. Your first course is your salesperson’s pre-examination totaling 48 hours. Your second course is real estate practice totaling 24 hours. Keep in mind online courses are more flexible.
Both courses must be completed before you apply for the state licensing exam or your real estate license. A final closed-book exam is included with each course. Your final exam includes 50 multiple-choice questions. You must score a minimum of 75 percent to pass. After you have passed your exam, you will be issued a Certificate of Completion.
You need to schedule and pass your Missouri state licensing exam. You must take your salesperson licensing exam in person through a PSI testing center. Missouri has four centers for testing. Your exam includes National and State portions. To pass the National portion, you must answer a minimum of 70 of the 100 multiple-choice questions correctly.
To pass your State portion, you must answer a minimum of 30 of the 40 multiple-choice questions correctly. Both sections of questions are intermixed, and you need to answer all of them within four hours. Your Missouri real estate training should have prepared you for this exam. Once you complete your exam, you will receive your score immediately. You need to pay $62 directly to PSI for each attempt.
After you have passed your exam, you need to be fingerprinted with IDEMIA before applying for your license. This requires registration with the MACHS or Missouri Automated Criminal History Site. You will need to provide the 0004 registration number for the Missouri Real Estate Commission. After your registration is complete, you will receive a list of available fingerprinting locations.
The FBI and Missouri State Highway Patrol will use your prints for a federal and state criminal history background check. The Commission will receive your results to include with your application. You will need to pay $40.50 at the fingerprinting location.
This is when you can apply for your real estate license in Missouri, provided all of the above steps have been completed. You must pass the state licensing exam and both courses before you can apply. Once you have completed the Salesperson Pre-Examination course totaling 48 hours, you have six months to apply for your license. After this time, both the state exam and pre-license courses need to be retaken.
When you receive a passing score report from the State exam, look on the back for instructions to apply for your real estate license. You must submit your application by mail in writing. As soon as you have completed this process, you can start interviewing brokers. A good training program is extremely beneficial for new agents. Consider the environment and the people you will be working with before you choose your office.
Once you have accomplished everything and selected your office, your broker must sign your licensing application. Everything will be packaged together, including the fee required, then mailed to the Missouri Division of Professional Registration. You should allow between two and three weeks before you receive your work permit.
If you want to start your new career immediately, you can obtain a work permit on the spot by driving to Jefferson City. You must not have any previous legal issues you have not revealed to the commission.
The Benefits of Having a Real Estate License
There are a lot of exceptional benefits you receive once you have obtained your license. You can have a successful career as a full-time agent once you have your Missouri real estate license. Your specific goals will determine the way you choose to develop your career. You have the option of becoming a formal realtor, or you can work with one of the major Missouri real estate brokerages.
If you are interested in running an independent business, you can set up your own real estate office with a few employees or partners. Real estate agents are always in demand because people are constantly buying and selling homes. This is highly unlikely to change in the future. The average salary for Missouri real estate agents is also higher than many of the careers available in other industries.
If you want to purchase an investment property for yourself, you can find the best deals once you have a real estate license. A good example is if you want to own and manage a few rental properties for a second income source. This involves finding inexpensive properties providing attractive features for tenants. A real estate license ensures you will have a lot more available options.
You will be one of the first to know about new deals in the neighborhoods you are targeting. If you are already working part or full-time, you may be interested in a side hustle. A real estate license will allow you to make extra money while still fulfilling your current responsibilities. Your license is the ideal leverage for a side hustle.
The only time you have to accept new clients is when you have both the interest and the time. Every time you close a sale, you will earn a commission. The more time you have, the more money you will earn. The job is extremely flexible and completely within your control. A real estate license will also increase your contact network. No matter which career path or job you choose, networking is crucial.
You will meet a lot of new people before and after you apply for your license. If you decide to sell houses, the opportunity to meet new people significantly increases. You will learn a wide range of new business fundamentals, such as negotiation tactics and local laws. All you have to do to improve the skills you can offer to the business world is memorize these fundamentals.
If you have always dreamed of starting a business of your own, a real estate license is the perfect opportunity. You can find great deals for your clients or yourself. If investment properties are not of interest, you can still take advantage of the access you receive. If you, a family member, or a friend, are moving to a different area, you can find better deals because you have a real estate license you can use throughout the state of Missouri.
Never underestimate the value of training and education. Even if you decide not to manage transactions or become a Missouri real estate agent actively, the knowledge you have for your personal or professional life covers more ground. You will have new skills to include on an impressive resume. There are numerous positions in many different fields; the knowledge you learned will make you more attractive to fill.
When you need to negotiate for your personal life, your skills will be more impressive. This can save you a lot of money when you make a major purchase such as a new vehicle.
Is Obtaining a Real Estate License in Missouri Worth the Effort?
If you are interested in a solid career path for your future, learning new skills, being your own boss, real estate investments, flexible hours, and earning a good living, the answer is yes. You will need to make an investment in Missouri real estate school, exams, final licensing, studying, and attending classes.
If you are willing to make an effort, you will have a career with growth potential. No matter which career you choose, you will need to invest both money and time. Some careers are more beneficial than others, and working as a real estate agent offers you many rewards.