Get A Real Estate License in Texas – Steps to Follow
A career in real estate is beneficial and lucrative in several ways. Not only can you balance your work-life well but you can also boost your self-confidence and earning potential. You will also need a real estate license to kickstart your career, details of which will be explained in this post. After getting your license, a lot of doors of opportunities will open for you and you will see exponential growth in your profession.
Read on to learn about the many facets of getting a real estate license in Texas.
An Overview of Obtaining A Real Estate License in Texas
A real estate license is primarily an authorization by a regulatory body (it is TREC in Texas), allowing you to transact all forms of real estate transactions.
The purpose of issuing licenses is to ensure that a common set of rules, regulations, and guidelines are enforced and maintained to protect the rights of consumers and real estate professionals.
Let us understand why getting a real estate license is a must and what opportunities you can avail with a license.
The Purpose of Getting A Real Estate License in Texas
Many job opportunities are available only for qualified, licensed real estate professionals. For example - you can choose to work as a licensed real estate agent, broker, appraiser, property manager, mortgage broker, and real estate investor.
Irrespective of which specialization or path you choose, your real estate career will require a state-approved license to flourish and grow without restrictions or legal limitations.
According to the Texas Real Estate Commission, only licensed real estate professional is legally allowed to represent themselves in buying, selling, leasing, or renting real estate.
It is often asked whether getting a Texas real estate license is necessary and beneficial for practitioners in this field. Let us check some of them out.
What are Some Of The Benefits of A Real Estate License in Texas
Let us check out a few benefits of getting a Texas real estate license:
- Get more opportunities: When you have a real estate license, you will have more career opportunities waiting for you. Licensed professionals are highly sought after by clients and companies, and are more likely to grab high-paying jobs easily.
- Be your boss: Getting your license and working in real estate will enable you to build the perfect side hustle. You don’t necessarily have to work with a firm or company, you can choose to be your boss with a real estate license.
- Gain access to more listings: Only licensed real estate professionals in Texas get access to the Multiple Listing Service (MLS) database. This database is an up-to-date record of all the property listings in an area and allows you to get access to the relevant listings faster.
These points prove how a real estate license in Texas can take your professional growth to the next level.
The Process to Obtain A Texas Real Estate License
Let us now go through the various facets of how to get a real estate license in Texas to build a lucrative career.
Required Age and Education
The following requirements are established by TREC to get a real estate license in Texas.
- Age of the applicant must be at least 18 years or older
- Must be a citizen of the USA with working permit in the country.
- Meet TREC guidelines for maintaining high ethical standards.
If you meet the above basic eligibility criteria, the next step is to fulfill the state-enforced education guidelines.
The Texas Real Estate Commission has laid down that all prospective real estate agents must go through 180 hours of pre-licensing coursework. The purpose of the qualifying education is to prepare applicants for the industry and give them a solid grasp of fundamental topics such as Principles of Real Estate, Law of Agency, Law of Contracts, Promulgated Contract Forms, and Real Estate Finance.
The pre-licensing courses for real estate agents in Texas can be completed in either a classroom learning environment or online.
Criminal Background Check
The purpose of background checks is to ensure that only trusted, honest, and qualified individuals can join the industry. There are many types of checks available in the market, and criminal background checks are one of them.
A criminal background check helps to reveal the background of an applicant, including their criminal history such as - any incidents of fraud, felony, and other convictions. If there have been any pending criminal cases or misdemeanors, a background check will bring that up.
Now if you have a history of felony or any other criminal activity, don’t lose hope. As per Texas law, you still have a chance of getting a license, however, it depends entirely on the severity, duration, and nature of the crime.
Pre-Licensing Course
Start fulfilling your Texas real estate license requirements by enrolling in a TREC-approved and accredited 180 hours of pre-licensing education.
This course teaches all the facets of the real estate industry necessary to offer excellent client service by agents. Students will also gain knowledge about the industry terminology, key definitions, and legal responsibilities.
The details of the mandatory coursework are given below.
- Principles of Real Estate 1: 30 credit hours
- Principles of Real Estate 2: 30 credit hours
- Law of Agency: 30 credit hours
- Law of Contracts: 30 credit hours
- Real Estate Finance: 30 credit hours
- Contact Forms: 30 credit hours
The pre-licensing coursework prepares you well for the real estate licensing exam.
Preparing for the Real Estate License Exam
Study Materials and Resources
Before you choose a real estate license Texas school, you must consider some key aspects to ensure you are spending your time and money in the right way.
Firstly, you must check whether your school or course provider of choice offers in-depth, up-to-date study material and resources. This is important because the real estate industry is continually evolving, and the curriculum also changes to reflect the latest guidelines, rules, and regulations.
It is recommended that you enroll in a state-approved course provider that can offer the most updated training and study resources available. This will ensure that you are prepared to ace the final licensing exam.
Review Courses
Your Texas real estate licensing exam preparation is incomplete without review courses and mock preparation tests.
Preparing for the final exam is already stressful but practicing with online review courses and mock tests can help you manage the exam stress and pressure better.
For applicants who want to get a sense of the exam day and avoid any unpleasant surprises, review courses can be very helpful. Many students benefit from taking such courses as they prepare them mentally and physically before the actual exam day.
You can easily choose from a wide range of course providers who can offer on-demand courses in your preferred learning style - online, in-classroom, or virtual.
Exam Schedule and Location
Ready to take the final test of your real estate license preparation? It is possible to schedule your licensing exam at least 24 hours before your day or date.
Note that walk-ins are not allowed and you can schedule your appointment via call or online. Also, before scheduling your exam appointment, you should have a few important details and documents handy, such as - your TREC ID, physical address, mailing information, contact details, and the name of the examination you want to apply for.
There are several exam centers across Texas, and you can schedule an appointment as per your location of choice and convenience.
Exam Tips and Strategies
You can only be assured of getting a Texas real estate license once you complete your pre-licensing education and crack the licensing exam. To do so, you must score at least 70%, or else you will be disqualified and asked to re-appear for the exam.
The exam consists of 85 questions and you will have 150 minutes to complete them. The questions are focused on the Texas real estate industry and will test your understanding of its laws, regulations, guidelines, and practices.
The key to acing the license exam is to focus on the fundamentals and make sure you go through prep materials such as mock tests and previous years’ questions to prepare better.