Interested in becoming a realtor? Here are 4 questions aspiring real estate agents often ask us!👇🏼
Q: What are the requirements to become a real estate agent, how much does it cost, and how long does it take?
A: The requirements and costs are different in each state. Still, you'll probably spend somewhere around $6910 with pre-licensing education fees, exam fees, background and fingerprint checks, broker fees, business expenses, etc. To become a real estate agent in Canada, you must be at least 18 years old, have legal Canadian residency, complete your required pre-licensing education, and pass the real estate license examination. Becoming a licensed real estate agent typically takes 2-6 months on average.
Q: How much and when does a real estate agent get paid?
A: Most real estate agents are paid solely through commissions based on a percentage of the property's selling price. The buyer's and seller's agents typically split the commission (5% is pretty average), and both agents are paid when the sale closes. Your broker will also take a small percentage of your commission before you get your cut!
Q: How does a real estate brokerage work?
A: Hanging your license with a broker as a new real estate agent is required. Your designated broker will supervise and oversee your activities to ensure you follow the provincial and national real estate laws.
Q: What does a typical day look like as a real estate agent?
A: Each day is entirely different depending on your client's urgency and response time, how busy you are, the current market trends, and more! A good portion of my week is spent making calls, writing contracts, negotiating, showing houses, meeting with clients or other agents, responding to emails, networking, and ensuring everything runs smoothly for my clients!
Have other questions about what it's like to work in the real estate industry? We'd love to connect and give you some tips we wish we had known when we first became an agent! Feel free to send us a DM!
