Stepping into the real estate industry presents an opportunity for a dynamic and lucrative profession. A license from an accredited school is a mandatory requirement for those seeking to enter the real estate industry as agents. The process is simple, especially if you opt to study online using self-paced study material.
There is also a debate about how much it will cost to become a realtor. Is it cheaper to attend an online school than physical classes? Well, that depends on various factors, which will be covered in this article.
Finding an Online Realty School
There are many real estate schools in the U.S. However, the most challenging factor is choosing the best that offers value for your money. Before you start searching for real estate schools, ensure that you meet the state eligibility requirements set by the Real Estate Commission.
The next step is to ensure that the school is state-accredited. State-approved institutions offer the best curriculum designed to prepare you for the pre-licensing examination. Student reviews and testimonials will help you learn more about the school.
Pay more attention when reading reviews and student testimonials. Watch out for what they say about course content and quality, student support, and instructor professionalism. Yelp and Google reviews are the best places to get honest and organic reviews.
How much you can spend on the school fees will depend on your budget. Most online real estate schools have customized student packages. The basic package is the cheapest but offers the bare minimum regarding study material and instructor support. Advanced packages are costlier but have additional tools, including instructor-led sessions.
Online vs. Physical Real Estate Schools
The choice will depend on your needs and how busy your schedule is during the day. Online schools are self-paced and require high levels of commitment and discipline. One factor where online real estate schools come out top is the flexibility they provide their students.
Flexible and self-paced learning allows people with a day job or other commitments to find work-life balance. Students can also access the course content from anywhere, as long as they have a PC with internet access. Some online real estate schools also have smartphone apps complete with all resources, including discussion forums, e-library, and dedicated 24/7 support.
The debate around fees is a tight one, but with online schools, you can save a lot. You don’t have to worry about transport and other associated expenses such as accommodation. Also, as mentioned, online schools offer a range of course options.
Cost of Real Estate License in Florida
The pre-licensing program fees will constitute the major portion of your expenses when studying real estate. The coursework is about 63 hours long and covers diverse topics from property laws to contract financing. For more information about the program, RealEstateU.
Students can expect to spend an average of $350 in school fees and other expenses involved during course registration and enrolment.
After successfully completing the pre-licensing program, the next step is to take the main exam. This exam will evaluate your knowledge of national and state real estate material. The exam fee is around $36.50 at the time of writing this article. As usual, we recommend visiting the FREC website for up-to-date information.
Upon completion of your exams and meeting the required criteria, it is now time to initiate the license application process. The application fee is a one-time payment that encompasses evaluation and efficient processing of your application. You will spend around $85 for your license application.
As a component of the eligibility examination, the state will also conduct an extensive background screening. This process entails the gathering of fingerprints, which costs around $50. It is vital to keep in mind that any previous convictions can cast uncertainty on your chances of pursuing a career as a realtor.
Licensed real estate agents must complete post-licensing programs, also known as continuing education, as a requirement. The cost of these programs can range from $200 to $400 depending on the school and the number of courses taken.
Summing Up
Becoming a realtor isn’t expensive and is a worthy investment. Most of the figures given here are approximates, and the fees may be lower in some online real estate schools than what is quoted in this guide.
However, don’t compromise on quality education to save some cash. Investing well in your pre-licensing education will give you a better chance of passing the state exam.
