How to Become a Commercial Realtor: The Quickest Path to Getting Your Commercial Real Estate License
It’s no secret that, with commercial real estate prices and rental offers skyrocketing on a regular basis, being a commercial real estate agent can lead to a 7-figure income quite fast. However, as with every profitable and advantageous industry, becoming a commercial realtor is not without its challenges. Not only is it that the industry itself is highly competitive, and you have to be extremely proficient to land the kinds of deals that would get you that 7-figure income in a state like California or New York, but even getting your commercial real estate license can be somewhat tricky, depending on where you live. Fortunately, there are clear instructions you can follow to become a commercial real estate agent and get your license without too many issues.
Before anything else, let’s take a closer look at the coursework that you will require. Now, depending on where you are and where you intend to operate as a commercial real estate agent, the informational requirements for getting past your exams will differ. Most states will require a period of training between 60 and 120 hours, which will be followed by a thorough, state-administered exam. Once you pass the exam, you will be provided with your license. Depending on the format of the coursework, it will require you to pay somewhere between $150 and $500, which are not exceedingly high figures for most. However, while in states like Pennsylvania you can get away with up to 60 hours of various courses, California and Texas are much more demanding, the latter requiring aspiring new agents to cover 180 hours of complex courses before they’re even allowed to take their exams.
When you complete the coursework required by your state, you will be free to take your license exam. State license exams can differ just like the coursework itself, and while some only have up to 75-80 questions, others will require candidates to answer 150 multiple choice questions with a pass rate of 60%. Nowadays, however, there are quicker ways to get through the exam without having to study as hard or as many hours as agents used to in the past. Real estate exam prep packages and practice exam software is available for purchase, allowing you to get through the difficult part of retaining information and getting ready for your exam more easily than ever before.
The total period of time required to get your license can vary greatly from one state to another. In some cases, the coursework can stretch out for several months, while in others it will only take a few weeks to complete. With the help of software tools and prepping techniques you can get ready for your license exam more easily, so that will also cut some of your time out of the picture. After completing your exam, however, it should only take a few days to get your results. Should you pass, you’ll have to wait an additional week before you can finally get your license and start looking for a respectable commercial real estate brokerage to join.