GETTING STARTEDReal Estate is a rewarding career with many benefits. However, getting started can be a bit of a process; and doing it alone can be even more difficult. The following prerequisites are necessary steps to get your real estate business of the ground, and CBDP is here to help. 1. PRE-LICENSINGStep number one is to get licensed. COLORADO: In order to apply for the Colorado Real Estate License Exam, the state requires you to complete 168 hours of DORA-approved college level real estate courses. Coldwell Banker Distinctive Properties offers the pre-licensing course in 8 week modules. You can find additional information HERE.IDAHO: To obtain an Idaho Real Estate Associate License, 90 hours of prelicense education is required, and must be taken within three years following the license application date. The prelicensing course is split into two 45-hour modules and is offered throughout the state. You can find additional information HERE.
MONTANA: Prior to applying for a license, candidates must take a board-approved examination scheduled through the testing agency and make a passing score as determined by a psychometrically sound, criterion-related method associated with assessment of minimal competence. Learn more HERE.
New broker license applicants must complete a minimum 90 hours of prelicense education within three years, including the mandatory Brokerage Management and Real Estate Law courses, as well as two broker electives. You can find additional information HERE.2. LICENSING EXAM
Once the pre-licensing course is complete, taking the actual exam is the next step.
More information HERE.
More information HERE.
More information HERE.
3. FINDING YOUR BROKERAGE
Once you’ve passed the real estate exam, you are given one year to activate your license, and in order to do so, you must be affiliated with a Brokerage. Interviewing and researching brokers prior to receiving your license is encouraged for that reason exactly. Coldwell Banker Distinctive Properties offers untouchable marketing resources, support and training tools, leadership and innovation in the industry. Let us show you how we can help you make your real estate business soar. It’ll be the best move you ever make.
4. JOINING THE REALTOR® ASSOCIATION
After being licensed and finding your brokerage, you’ll want to make sure you take all of the steps to get rightfully connected. You’ll first need to join NAR, the National Association of REALTORS®. Once licensed, you are licensed as a real estate sales person; and to become a REALTOR® you need to join the Association. The National Association of REALTORS® is America's largest trade association, representing over 1.1 million members, including NAR's institutes, societies, and councils, involved in all aspects of the residential and commercial real estate industries. All sales persons who affiliate with a real estate firm that is a member of the REALTOR® association, must also join the Association within 30 days of affiliation. NAR has their own fee schedule which is prorated throughout the year. The REALTOR® Association is also in charge of the lockbox system, which agents need in order to access keys to listed properties. (http://www.realtor.org/about-nar).
5. JOINING YOUR LOCAL MULTIPLE LISTING SERVICE
One of the most important accesses as a Realtor is to the local MLS. You will need to join the MLS for the market you are serving as soon as possible. This will allow you to view information on every single listing on the market within that MLS. The MLS will also give you access to consumer tax information.
6. CONTINUING EDUCATION CLASSES
For each three-year license cycle, all active real estate brokers must complete 24 hours of continuing education.
Three-Year License Cycle Continuing Education Requirements:
- Twelve (12) of the 24 hours must be comprised of three (3) different versions of the four hour (4) Annual Commission Update Course.
- The remaining twelve (12) hours can be any combination of elective credit hours approved by the Commission.
- You must retain proof of completion of continuing education courses for a minimum of four years and provide proof of completion upon the Commission's request.
Inactive License Continuing Education Requirements -
If your license has been inactive for longer than three (3) years/36 months, you MUST complete either:
The education requirement for initial renewal is 12 hours of prescribed post license courses (8 hours Post License Fundamentals and a 4 hour Post License module of choice). This post license requirement applies to any salesperson who has not yet renewed the license one time on active status.
- Two (2) Idaho core courses plus 12 elective hours.
- No CE is required to renew on inactive status.
- If within the same renewal period, no CE requirement. Otherwise, same as for an active renewal - two Idaho core courses plus 12 elective hours
The continuing education requirements are as follows:
- For Salespersons and Brokers, each active licensee is required to complete a minimum of 12 hours of continuing education every licensing year. The required hours shall be in real estate related courses. For supervising brokers, 4 of those hours must be in supervising broker courses.
- For Property Managers, each active licensee is required to complete a minimum of 12 hours of continuing education every licensing year. The required hours shall be in property management or real estate education.
- New property management licensees are required to complete their 12 hours by the second renewal date, and four of those hours must consist of a course in property management trust accounts.
7. FIND A COACH OR MENTOR
- Renewal Period: September 1 through October 31.
Finalizing the above steps will put you in a good position to start your real estate career, no doubt. However, not enough can be said about the enormous impact of having a mentor or coach help guide you, especially in your first few years. The accountability, suggestions, advice and lessions are invaluable. , and at Coldwell Banker Distinctive Properties, we incorporate Tom Ferry's Breakthrough By Design in our coaching tactics for our agents. Tom Ferry is the #1 Real Estate Coach in the U.S. Check him out HERE.
CORNER OFFICE COACH
Discover how the Corner Office Coaching process has helped Real Estate CEO’s like you build and grow. Our process has helped CEO’s experience 31% growth year over year, and be recognized as one of the fastest growing companies in North America by INC 500 Magazine 3 years running! To find out more about what Corner Office Coaching can do for you, click HERE!