Ready to start your real estate career in Texas? You’ve made the right choice because Texas is brimming with lucrative opportunities for aspiring real estate agents. With increasing home prices in Dallas-Fort Worth, the time is right to enter the market and make the most of the growth forecasts. As of 2023, the typical home is valued at around $300,000, and it is poised to grow rapidly over the next few years.
Want to pursue your dream of joining the real estate industry? If you want to secure a real estate license in Dallas, Texas but don’t know where to start, we are here to help. Here is everything you need to know about how to become a real estate agent in Dallas-Fort Worth.
Getting started with the basics of becoming a Real Estate Agent
If you are ready to have a successful career in real estate, here are a few aspects to keep in mind.
First, every state has a different set of regulations and requirements for certification in real estate. Say that you live in Dallas, Texas. In that case, you will have to understand and follow the local rules applicable. Some of the basic qualifications to obtain a Dallas real estate license are -
- Be at least 18 years (or above) in age,
- Must be a U.S. citizen or a lawfully admitted migrant.
- Should meet the honesty, integrity, and trustworthiness guidelines of the Texas Real Estate Commission (TREC).
It is important to meet all the minimum requirements, only then you will be eligible to apply for a pre-licensing course and obtain a real estate license.
The Exciting World of Real Estate in Dallas-Fort Worth
Dallas-Fort Worth is an exciting and lucrative real estate market in the country. It is one of the fastest-growing cities with huge growth potential. If you want to build a successful career in real estate, then Texas is the place for you. Real estate agents in Dallas-Fort Worth are generating handsome commissions and steady earnings, thanks to the rising home prices.
Generally, they can make around $100,000 annually, with a 6% commission rate, which is higher than anywhere else in the country. You can now probably guess why there are more than a hundred thousand registered real estate agents in Texas! A real estate career in Dallas-Fort Worth can be an exciting path to pursue, provided you complete the required training and education and obtain a real estate license in Texas.
Why Consider a Career as a Real Estate Agent in Dallas-Fort Worth?
A career as a real estate agent offers an exciting mix of risks and rewards along with the satisfaction of being your boss. As a real estate agent, you can work at your pace, set your own working hours, and even plan your targets and goals. There’s no end to what you can dream and achieve as a real estate agent.
Real estate agents in Dallas-Fort Worth are enjoying the growing pool of opportunities, and it’s only getting better. This means now is the perfect time to seriously consider becoming an agent and help people purchase and sell properties.
Key steps to follow to obtain a Real Estate License in Dallas
Understanding the Licensing Process
There are a few steps to complete to obtain your real estate license in Fort Worth and Dallas, Texas. The licensing process goes like this:
Step 1: Create and submit your application to the Texas Real Estate Commission (TREC) to register.
Step 2: Complete a mandatory 180-hour pre-licensing course with a qualified and approved course provider.
Step 3: Once you complete your pre-licensing education, you have to appear for the final exam.
Step 4: If you successfully pass the final exam, you have to submit a licensing application using TERC online services.
Step 5: After completing your licensing process, you will have to seek a sponsoring broker in Texas to start your career with.
Once you decide to start your real estate career in Texas, the foremost step is to understand how to complete your pre-licensing education.
A pre-licensing education will be worth six 30-hour courses, which amounts to 180 hours of learning. It is mandatory to complete it from an authorized course provider. In Texas, there are many options available to choose from, for both on-campus as well as online real estate courses.
Typically, a pre-licensing education is designed to give you a strong foundation in the real estate industry. You can expect to learn about the fundamentals, such as principles of real estate, real estate laws of agency, laws of contracts, real estate finance, and more.
Passing the Real Estate Exam
As you progress through your training, you will also be appearing for final exams. To clear the exam, you must obtain a minimum passing score of 70%. You will have to complete the final exam under the supervision of a proctor, and you will be required to schedule a prior appointment for your final exam.
Application and Background Check
Completing a real estate background check is a mandatory requirement if you want to obtain a Dallas real estate license. A background check is used to determine the eligibility of a prospective student and establish whether a candidate has any criminal or felony record or not. If you pass the background check, you will have no restrictions to apply for a real estate license. Note that once a background check is completed, it will be valid for 210 days.
Choosing a Brokerage
To become a successful real estate agent in Dallas-Fort Worth, you will need more than just a passing score in your final exam. Part of becoming good at real estate is to work with professionals who have more experience, trust, and knowledge than you. This is why you need to seek a real estate brokerage firm to sponsor you. To choose a real estate brokerage, keep in mind the following aspects:
- Is the company well-established and trusted in the market
- Does the firm have proven experience in the real estate industry
- Do the senior professionals provide guidance and mentorship to new agents
- Does the company serve a large market or are they focused on a few cities only
Weighing the pros and cons and researching more about the different real estate brokerages is a key step in your professional journey. This decision alone has the potential to turn your career in any direction.
Fort Worth Real Estate Career
Fort Worth Real Estate Market
Considering applying for a real estate agent license in Fort Worth? You might want to understand the current market landscape in the city first. With more than 230 neighborhoods, the current median listing home price in Fort Worth, Texas is around $350,000 and has been trending down by 50% year on year. As of 2023, Fort Worth can be labeled as a buyer’s market, which indicates that the supply of real estate outweighs the demand.
Fort Worth Real Estate License Requirements
To obtain your real estate license in Fort Worth, you must first complete your pre-licensing education. This will be a course worth 180 hours and it is mandatory to pass the final exam with a minimum score of 70. In addition to that, you must be 18 years of age and a legal resident of Texas, have a high school diploma (or its equivalent). have a clean record, submit the required documents, and pay the fee to complete the course.
Preparing for the Fort Worth Real Estate Exam
If you are getting ready to ace the Fort Worth Real Estate final exam, here are five key classes you must focus on as part of your education and assessment.
- Principles of Real Estate
- Law of Contracts
- Law of Agency
- Real Estate Finance
- Contract Forms
You must complete the required training hours for all these subjects, and if you want to earn a Fort Worth real estate license, you better get good at understanding and learning about these subjects.
Fort Worth Real Estate Brokerages
Fort Worth is home to several real estate brokerages, and you can easily find the right one to sponsor you. This is important because state law requires aspiring real estate agents to work with a sponsoring broker.
Here’s how you can get started. Search online for the best brokerages in Fort Worth and then reach out to them individually. Your goal should be to convince them that you are looking for a sponsoring broker to start your real estate career with. Ideally, you should work with brokers who offer extensive support and training.
Real Estate Agents in Dallas-Fort Worth
Role of Real Estate Agents in DFW
Most people think the only role of a real estate agent in Dallas-Fort Worth is to buy and sell properties. While it is the core part of the job, the duties of an agent in the real estate industry go beyond being a bridge between a buyer and a seller. Most of the time is spent on marketing and sales, including giving property tours, generating leads, following up with prospects and replying to their queries, analyzing the market’s trends, forecasting the market’s future, and so on.
Tips for Success as a Real Estate Agent in DFW
Ready to make a successful career in the real estate industry? Here are a few tips to get going:
- Have a growth mindset: Keeping your eyes and ears open, finding a mentor, and being hungry for growth will take you far in a competitive field. The best agents are always hungry to expand their skills and they never become complacent.
- Get better at negotiations: Real estate is a price-sensitive industry where negotiation is the key. To ace your job as a real estate agent, learn the art of negotiating with buyers and sellers. The key is to position your expertise in such a way that you can influence a transaction.
- Be a people’s person: More than transactions, real estate is about connections. To be successful and have a solid network, you must learn to gauge, understand, and influence people. By doing so, you will easily gain trust, and thus, the deals will come your way.
- Manage your time better: When you are your boss and working on your schedule, it’s easier to be casual about time management. However, as a real estate professional, time will be your most valuable asset. Learn to plan your days, and block time to give to different activities and duties.