Real Estate Training Fees
Ever wonder just how much that new real estate career is going to cost you? Stop and think about it, the average person working towards obtaining their real estate license has to pay for real estate training, application and licensing fees, lost wages while you are getting started, can you afford all of this?
We would love nothing more than to help you get your real estate license, but at the same time, we don’t want to pull you in without first making sure that you are aware of the potential costs associated with the licensing process.
Our staff went ahead and broke down some of the fees you can expect in the following list. These are based on an average, your state may cost more or less and you should always look into the expected fees before moving forward. Here are our figures:
Real Estate Training Fees
1. Real estate training / real estate school - This area will be the second largest expenduture you will have throughout the entire training process. This of course can vary depending on the states educational requirements, some require college credits while others will require real estate school credits. We found that on average, a real estate school course will run you around $250, but you can save a little money by taking an online real estate course.
If your state requires college credits this cost would be considerably higher.
2. Application and licensing fees - Every state charges some form of application fee, they may call it something different, but you can guarantee it is there. We have these fees to range anywhere from $25 to $100, depending on the state and what they are tacking on to those numbers.
3. Real estate examination fee - Yes, even after charging you foryour application and your license, they are going charge you again to take your examination, though it is not to expensive. On average a real estate exam fee will run you around $35, give or take a few dollars.
4. Out of work fees - This is the cost that can really hurt your pocketbook. We typically recommend that real estate agents plan to be out of work for six months to a year and yes, sometimes it can take even longer. The fact of the matter is that you aren’t going into this business with a list of hungry clients and worse yet, a real estate agents pay is commission based, which means you don’t get paid until you sell a property.
You can absolutely shorten the amount of time it takes until your first sale if you hit the ground running and don’t look back. Some agents make their first sale in as little as their first or second month, but it is unrealistic to expect this.
So what is the cost associated with being out of work for this period of time? Well, that depends on how much you were making before this and how long it takes it to you to make a sale. We would say that the average for a six month turn around time is approximately $20,000, but again, that can vary considerably depending on your situation.
You should also remember that this particular fee, is not direct out of pocket like the others. You may be able to stretch this on credit or savings. Maybe you have a 401k you can draw from, it really depends on you. Be sure to check out our free real estate agent training page for all of the latest real estate training resources at the rock bottom price of free!
Popularity: 1% [?]
Tags for this article: real estate agent training, real estate license, real estate license training, real estate licensing, real estate training, real estate training fees, real estate training information
« Real Estate Agent Training - Free Agent Training Resources | Home | Real Estate License Guide - Get Your Real Estate License »
Comments are closed.