A real estate career offers flexibility like no other profession – being your boss and setting your work schedules. Though you have unlimited earning potential, you can fix your targets depending on your drive and skills and the hours you put in.
To reap all these benefits and enjoy a rewarding career as a real estate professional you must first get a Texas real estate license. This post will take you through the various facets of obtaining a license so that you can decide whether you are cut out for this career and what you need to do to break the tape at the finish line.
The Common Requirements For Obtaining A Real Estate License In Texas
Before you go into the pre-licensing education requirements and pass the licensing exam, there are certain basic requirements to be fulfilled.
You should be:
- At least 18 years or older and a citizen of the country.
- Residing in Texas
- Follow the guidelines of the Texas Real Estate Commission (TREC), the governing body for the real estate industry in Texas, about maintaining work honesty and integrity.
- Submit a Fitness Determination certificate to the TREC if you have any past criminal records. Getting this done first will prevent your application for a Texas real estate license from getting rejected after you have gone through the whole work of getting one.
Click here for a better understanding of obtaining a Texas real estate license.
Educational Requirements To Complete For Obtaining A Real Estate License In Texas
To apply for a real estate license in Texas, no pre-qualification like a degree, high school diploma, or GED is required. You must only go through 180 hours of pre-licensing education from a course provider approved by the TREC.
There are six modules of 30 hours each in the coursework as follows.
- The Principles of Real Estate I
- The Principles of Real Estate II
- The Law of Contracts
- The Law of Agency
- Promulgated Forms
- Real Estate Finance
Go through the TREC-approved list of course providers and choose one. You can either study online or from a classroom environment depending upon your preferred learning style. While choosing a course, check out those offered by RealEstateU. Not only are they of the highest quality but are also very competitively priced.
Steps To Follow To Be Awarded A Texas Real Estate License
After fulfilling the prerequisites to get a license, go through the following steps to reach your goal.
Step 1
Research the various schools and course providers in your state that offer real estate pre-licensing education. Compare the costs of the courses too. The prices of pre-licensing courses range from $500 to $1000 and more. RealEstateU basic courses are available for only $249.
Step 2
Visit the website of TREC and apply for an Inactive Sales Agent License. Pay a fee of $205 along with the application and attach proof of having completed the pre-licensing education requirement. TREC levies an additional charge for paper applications.
Step 3
You must submit your fingerprints so that the authorities can check for any past criminal records or felonies. Schedule your fingerprints to be taken by the Morpho Trust to be subsequently given to the FBI through the Texas DPS. A fee of $35 is charged for this verification.
Step 4
After receiving clearance of your fingerprint check from the TREC, schedule your licensing exam by paying a fee of $54. Though TREC offers three chances to candidates to crack the exam, this fee must be paid each time. If you fail to cross the line after three tries, you need to go through the coursework again before a fresh attempt can be made.
Step 5
TREC will issue an inactive license after you pass the licensing exam. However, you will be eligible to practice only after an active and licensed real estate broker agrees to sponsor you. As per law, you cannot handle funds and only the sponsoring broker is permitted to do so on your behalf. Only when a broker agrees to sponsor you will your license be activated. You can now start your practice as a real estate agent in Texas.
Time Taken From Scratch To Become A Real Estate Agent In Texas
From the time you apply for an active license, you have one year to complete all the formalities to get a Texas real estate license. How fast you can go through the process depends on several factors – your exam preparation time, how quickly you pass the licensing exam, and the time taken to find a sponsoring broker. Given all these factors keep about 2 to 18 months in hand for obtaining a Texas real estate license.
However, you cannot rush through your pre-licensing studies and work flat out every day as TREC mandates that you cannot clock in more than 12 hours of study every day. Hence, you will need at least 15 days to fulfill the educational requirement. With other commitments, it is generally not possible to focus on studies so rigidly and 15 days is just the minimum benchmark.