When you want to become a real estate agent, you need the right guide. This Tennessee real estate license guide will show you the steps to get your license. It will also give you some helpful information about becoming a real estate agent in Tennessee.
Getting your license is the first step. Of course, you should research careers in real estate first. This will help to ensure this is the type of career you want to enter into. Let’s look at the Tennessee real estate license, how to.
How to Get Your Tennessee Real Estate License in 6 Steps
Step #1 – Meet the Basic Requirements
You will need to be at least 18 years of age, and you need to have your high school diploma or GED. It’s also necessary to be a U.S. Citizen or a lawfully admitted alien. If you meet these basic requirements, you can move on to the second step.
Step #2 – Complete the 90 Hours of Pre-Licensing Courses
You will need to complete 90 hours of pre-licensing courses to get your real estate license in Tennessee. These course hours will include 60 hours in real estate fundamentals and 30 hours for new affiliate brokers. You can take these courses online or in person. The cost will range from about $200 to $800, depending on the option you choose.
Tennessee pre-licensing courses cover the following topics:
- Real estate calculations
- Land use controls and regulations
- Property disclosures
- Property ownership
- Other improper activities and consumer protection
- Agency and disclosure issues
- Leasing and property management
- General principles of agency
- Practice of real estate
- Valuation and market analysis
- Handling of trust/escrow funds
- Special areas of practice
All of these courses can be completed through an online real estate school approved in Tennessee.
Step #3 – Pass the Exam
You will need to pass the affiliate broker exam in Tennessee before you can become licensed. With a less than 50% passing rate, you will need to make sure you’re ready to take the exam. Using a good test prep course can ensure you’re fully prepared.
If you don’t pass, you will need to wait 24 hours before scheduling your next attempt. Those that pass one section of the exam will not need to retake that section. You will have two more attempts to pass the failed section in the next six months.
If you don’t pass the exam within the next two attempts, you will have to wait 30 days to reschedule.
Make sure to submit your certificate of completion before scheduling your exam. You will need to pay the $39 exam fee once you receive a postcard showing you have been approved to schedule your exam.
You can take the exam through the PSI online proctoring solution or a local testing center.
Step #4 – Choose a Real Estate Company to Work For
You will need a sponsoring brokerage to activate your license to practice real estate in Tennessee. Make sure to choose a broker you like that will work best for your specific needs. Some brokers offer more opportunities than others.
Step #5 – Apply for Your Real Estate License in TN
Once you have passed the exam and have a sponsoring broker, you will be able to apply for your license. This is done by submitting the following to the CORE website system:
- Proof of graduation from high school
- Photo ID
- Proof of pre-license education course completion
- Proof of errors and omissions insurance
- Eligibility form
After you have submitted your application, you will go through a background check. Even with a criminal record, you might be able to become a real estate agent in Tennessee. It depends on the conviction.
Step #6 – Get a Broker’s License (Optional)
If you want to go even further, you can get a broker’s license. This type of license requires an additional 120 hours of coursework. You will complete the Office and Brokerage Management Course and 120 hours of other coursework before you can apply for your broker license. After applying and receiving your broker license, you will need to complete another 120 hours of coursework within three years.
After completing these hours, you will need to meet the continuing education standards. This will include the TREC Core Courses.
As a broker in Tennessee, you have the opportunity to earn more money. In addition, you can lead a brokerage with agents working for you, which can lead to a very lucrative career in real estate.
Frequently Asked Questions About Getting a Tennessee Real Estate License
What is the average salary of a real estate agent in Tennessee?
As a real estate agent in Tennessee, you can earn over $80K per year. Your salary may be higher or lower, based on how much you work and how much experience you gain. Most real estate agents work on commissions, which means you have plenty of control over the amount you earn.
Some areas in Tennessee tend to see a higher-than-average salary for real estate agents. Sevierville, Brentwood, and Cordova are the locations with the highest average salaries.
How much does it cost to get my real estate license in Tennessee?
The costs associated with getting a real estate license include fees for the license and fees for the necessary real estate courses. The necessary costs are broken down as follows:
- Application Fees – $90 for the license application, $1 for real estate education and recovery fund, and $75 to renew your license every other year.
- Fingerprinting – You will pay a fee of $35 for fingerprinting.
- Licensing Exam – The cost for the affiliate brokers’ licensing exam is $43.
- Real Estate Courses – You will pay between $200 and $800 for a real estate course to get your license.
The total cost to get your real estate license in Tennessee will range from $369 to $969. If you upgrade to a broker’s license, you will need to pay another $91.50 for the license and more for the courses.
How long will it take me to get my real estate license in Tennessee?
The amount of time it takes you to complete the 90 hours of pre-licensing courses will determine how long it takes you. This can take a few months for some or a few weeks. You can complete the courses right online, and you want to make sure you learn everything you can from the courses.
Once you’re done with the coursework, it will take a few days to a few weeks to process your application.
What if I already have a real estate license in another state?
Tennessee offers reciprocity in most circumstances. However, you will need to complete the right documentation and prove you passed the written exam in your previous state. A non-resident firm application may be necessary, too.
How long is the real estate licensing exam in TN?
The exam is 120 questions long, and you have 1 hour and 20 minutes to complete it. The format of the questions is multiple choice.
What is a passing score on the exam?
You need to pass the Tennessee Real Estate Salesperson Exam with a 70% score or higher. In addition, it’s necessary to get at least 56 out of 80 questions right on the national portion and 28 out of 40 on the state portion.
How many people pass the real estate license exam on the first try?
Just under 50% of those taking the exam will pass the first time. However, with the right test prep course, you can make it much easier to pass the exam on your first try.
How often do I need to renew my real estate license in TN?
In Tennessee, you will need to renew your license every two years. This will require a total of 16 continuing education credits with 10 elective credits and 6 mandatory TREC Course credit hours. You will also need to pay a fee to renew your license every two years.
Which online real estate schools offer courses in Tennessee?
There are many options when you want to take your pre-licensing courses online in Tennessee. Some of the top options include:
- Real Estate Express
- The CE Shop
- TN Real Estate & Comprehensive Sales School
All of these online real estate schools offer great options with different benefits. Make sure you choose the right one for your learning style and your specific needs. Some programs also offer test prep courses to help ensure you pass the real estate license exam on the first try.
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