How Much Does It Cost To Become a Real Estate Agent?
While being a real estate agent doesn’t require a college degree or the tuition costs that come along with it, getting your real estate license does come at a cost. From applying to taking your exam, there will be a few fees along the way.
In this blog, we’ll go over how much it costs to get, and maintain, your real estate license.
Licensing Fees for Real Estate Agents
The exact costs to become a real estate agent will vary by state. However, we’ll use Texas as an example.
Getting your real estate license in Texas ranges from $1,000 to $1,500, with the process typically spanning 4 to 6 months. This allows you to embark on a new career path, potentially achieving financial success without incurring debt and saving a significant amount of time.
Here's a detailed overview of the overall licensing expenses, including real estate agent education costs, examination fees, and application charges.
1. Real Estate School: $350 - $800+
Selecting the appropriate real estate school is crucial to your achievement. Ensure that the school you choose is approved by the Texas Real Estate Commission (TREC), has a high pass rate for its graduates, and provides student support.
Fortunately, the market offers a variety of real estate education paths. For example, Agent Campus by 360training delivers completely online courses, allowing you to study at your own pace from any location.
Moreover, Agent Campus offers Pre-License courses with online instructor support and flexible payment options.
2. Exam Proctoring: $50-$150
Every prospective licensee is required to pass a final exam upon completing their courses. In numerous states, including Texas, this exam needs to be supervised, known as a proctored exam. This entails that each examinee must be monitored while taking the test. Engaging a third party for exam supervision can incur additional expenses.
3. Exam Fee: $43 Per Attempt
Various individuals have to attempt the TREC real estate exam multiple times before achieving a passing score. The expenses for real estate agent exams come with a fee of $43. To minimize the likelihood of having to retake the test, it's crucial to dedicate ample time to studying.
4. Application and Processing Fee: Approximately $225
The fee for applying to take the real estate exam is $185. Additionally, there is a $38.25 charge for fingerprinting, payable to the Texas Department of Public Safety (DPS), which is required to conduct a background check.
What Is the Cost to Keep a Real Estate License in Texas?
Beyond the initial costs of schooling, exam fees, licensing fees for real estate agents, and background investigations, real estate agents are required to periodically enroll in Continuing Education (CE) courses to retain their license.
CE courses ensure that agents remain informed about their state's laws, provide a refresher on important information, and offer opportunities to deepen their understanding of the real estate sector.
Continuing Education (CE) presents a valuable chance to enhance your expertise and further your career in the real estate field. It's common for many brokerages to cover the cost of CE courses for their agents, so it's worthwhile to inquire with your sponsoring broker about this benefit.
Additionally, some states require that agents complete a post-license course within the first year after obtaining their license. This one-time educational requirement acts as an extension of your initial real estate training.
In Texas, for example, new agents must complete a 98-hour Salesperson Apprentice Education (SAE) course before their first license renewal.
Remember, the frequency with which agents must undertake CE courses can vary by state, so it's important to consult the Texas Real Estate Commission (TREC) website for specific information on license renewal criteria.
What Is the Cost of Renewing Your Real Estate License in Texas?
The expense involved in renewing a real estate license in Texas can vary based on several factors, such as the type of license you hold and whether your renewal application is submitted punctually. The Texas Real Estate Commission (TREC) states that the fee for renewing a standard real estate sales agent license is $110.
However, a late fee of $33 is imposed if the renewal is submitted within 90 days after the deadline, raising the total to $143. Submitting the renewal more than 90 days late incurs an additional late fee of $33, elevating the total cost to $176.
Therefore, it's crucial to ensure your renewal is submitted on time to avoid these additional charges.
How Much Does It Cost to Renew Your Texas Real Estate Broker’s License?
The cost of renewing a broker license can differ based on the timing of the submission. The standard fee for broker renewal is $217. However, if the renewal is submitted up to 90 days late, an additional $36 is charged, bringing the total to $253.
Should the renewal be submitted more than 90 days after the deadline, the fee increases by another $36, resulting in a total cost of $289. It's advantageous to renew on time to avoid these extra fees.
How Much Do Realtors Spend on Continuing Education Every Year?
As mentioned earlier, after obtaining your real estate license, fulfilling continuing education requirements is crucial to keep your license active. Agents typically engage in these courses every one to two years to remain updated on industry shifts and regulatory changes, furthering their professional development as real estate agents.
The cost of these continuing education courses can range from approximately $100 to possibly escalating to a few hundred dollars per course, depending on the program and provider.
The price of individual Continuing Education (CE) courses can differ significantly. Typically, online courses offer a more budget-friendly option compared to in-person options. Additionally, the cost is influenced by various factors, including the course provider, the subject, and the duration of the course.
Start Your Journey With Agent Campus by 360training
Embarking on a real estate career doesn't come with guaranteed success; however, agents dedicated to investing time and effort frequently achieve remarkable outcomes.
By creating a client network, joining association memberships for real estate professionals, and gaining industry insight over several years, agents have the potential to earn a six-figure income. This makes the pursuit of a real estate license a valuable investment for your future.
Start your real estate journey by enrolling in Agent Campus’ online Real Estate Pre-License Courses, or continue your journey with our Real Estate Continuing Education.
Our courses have everything you need to get started. Enroll today!
