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Tuesday, January 29, 2008

What should it cost to become a Realtor?

I came across this posting from a prospective real estate agent in Texas. He is asking a pretty straight forward question, but is still hard to answer.

At AgentCampus, we offer real estate licensing courses in all states that will let us. But that is just the first step. I have been talking to many new agents in Texas recently, and they all say the same thing: it costs a lot of money to be a real estate agent in your first year. The training is the easy part.

The fees for local associations, exams, and that 60 hours in your first year is what really gets you. To be a real estate agent requires training and exams. To be a REALTOR and have access to the MLS, that's a more. But it is what is required to be a serious agent.

Just like I said about Home Inspection becoming more regulated, this is most likely a good thing. It keeps the people who are only "so so" about becoming an agent out. It's the barrier to entry. If you want to do this, you have to be serious. But when it is just ridiculous? Are other states the same way?

Don't get me wrong, I am not slamming the MLS, NAR, or anyone else. Truthfully I don't know enough about that subject to really do it justice. I am just posing that question. What should it cost to become a Realtor? Does anyone really tell you in the beginning what the investment really is? How important do you think it'd be to tell prospective agents this?

On a side note: We are developing Prospective Agent kits for people who want to become agents in the states we offer training. Keeps your eyes out for them. I might even post some of the knowledge I find on here and see what you all think. I'd love input on what you would have liked to know BEFORE becoming an agent.

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