This comprehensive guide explores the various facets of real estate schools and obtaining a real estate license in Atlanta, Georgia. Apart from a general overview, it will also explore the steps to obtaining a real estate license in Georgia and choosing the right real estate school in Atlanta.
- Overview of Real Estate Education and Licensing in Atlanta
- Understanding the Real Estate Industry in Atlanta
- Importance of Obtaining a Real Estate License
- Steps to Obtain a Real Estate License in Georgia
- Meet the Eligibility Requirements for a Georgia Real Estate License
- Complete the Required Pre-License Education in Georgia
- Submit the License Application and Fees to the Georgia Real Estate Commission
- Pass the Georgia Real Estate Salesperson Exam
- Obtain Errors and Omissions Insurance
- Choosing the Right Real Estate School in Atlanta
- Research Accredited Real Estate Schools in Atlanta
- Consider the School's Curriculum and Course Delivery Methods
- Evaluate the Reputation and Success Rate of the School
- Compare Costs and Payment Options for Real Estate Education
Overview of Real Estate Education and Licensing in Atlanta
Understanding the Real Estate Industry in Atlanta
There are several reasons why home buyers are drawn to the Atlanta real estate market. Friendly people, the presence of well-established businesses, and a warm climate are some of them. Further, people have cash to spare for investment in real estate as the unemployment rate was a mere 2.6% in 2022 against the national average of 3.5%. This broad appeal makes the Atlanta housing market very strong and stable.
Some interesting trends have been thrown up in the real estate market in Atlanta. The construction of single-family homes slowed in 2022 and dropped significantly by 41% year-on-year. However, multi-family home construction showed a significant upward movement with a 126% increase over the previous year.
Let us now check the supply and demand factor in the Atlanta Georgia real estate sector. Even though single-family homes have seen a drop in construction, the housing inventory in the Atlanta metro area is quite strong. The city can boast of a four-month supply of houses while those looking for luxury homes have 10.9 months’ supply ready to be picked up.
Redfin data shows that as of January 2023, there were 3.6 months of inventory in Atlanta. That is a 1.97% increase year-on-year. There is good news for investors too. The rental vacancy rate in Atlanta was 5.4%, a 0.9% decrease over the previous year and less by 5.8% over the national average.
Overall, because of the robust demand, both for houses and rental properties, it pays to get a real estate license in Atlanta and be a real estate agent in the city.
Importance of Obtaining a Real Estate License
Passing the exam to get a real estate license in Atlanta is a confirmation that you have the required knowledge to be successful in this field. There are a lot of complex rules and regulations that govern the industry and you must be aware of them to provide excellent client service.
The real importance of studying for and obtaining a real estate license is to be aware of the legal implications of contracts and documents as a slight mistake here can have wide ramifications. Any top real estate school in Atlanta, approved by the Georgia Real Estate Commission has pre-licensing courses that will teach you about industry best practices.
Once you complete the pre-licensing course and get your real estate license in Atlanta, you will know in-depth about Georgia estate laws, ethics, and agency which will help you to take your career to the next level.
Steps to Obtain a Real Estate License in Georgia
The following steps will answer your question how do I get my real estate license in Georgia
Meet the Eligibility Requirements for a Georgia Real Estate License
The minimum eligibility requirements to get a real estate license in Atlanta are the following:
- You must be a minimum of 18 years of age
- You should hold a high school diploma to apply for a real estate license. An equivalent educational qualification will also do.
- You must be a citizen of the USA or even an alien with permission to work in the country.
Complete the Required Pre-License Education in Georgia
How to become a real estate agent in Atlanta? The most critical part is to complete the real estate agents’ 75-hour licensing course, approved by the Georgia Real Estate Commission (GREC). After completing the course, a proctored exam must be passed to get a license.
Here are the details of the 75-hour coursework as provided by us at RealEstateU.
- The course has several chapters and lessons and at the end of each of them, there is a multiple-choice quiz that tests your grasp of the concepts studied.
- Since the course is online, candidates can access it 24/7 from any Internet-connected device. For those who prefer a classroom environment, some textbooks can be downloaded in PDF format. The textbook is not to replace the course but simply to be used as a reference to follow the lessons better.
- The course includes a proctored exam consisting of 100 MCQs with a passing grade of 75%. The results of the exam are declared on the same day at the test center itself and a Certificate of Completion is awarded soon after for successful candidates.
Get the Georgia Crime Information Report
Before sitting for the exam after completing the mandatory 75 hours of coursework, you must obtain a report from the Georgia Crime Information Center (GCIC) that checks whether you have any criminal history. This report, which is valid for 60 days, can be got from any police department or the local sheriff’s office on payment of a fee of $25. This report is to be brought to the AMP center when you take the real estate license exam.
Submit the License Application and Fees to the Georgia Real Estate Commission
The next step in how do I get a real estate license in Georgia is to apply for a real estate agent license. Do so at the AMP testing center right after you pass the exam and are awarded a Certificate of Completion. At this stage, the application fee is $170 but if you choose to apply later between three months and a year after completing the exam, the fee is $340.
The following documents must be submitted with the license application.
- A valid photo ID and Certificate of Accuracy Statement
- A completed Sponsoring Broker Statement Form if you apply for an active real estate license. Without this form, you will get an inactivate license.
- A copy of your Georgia Crime Information Report
- A Lawful Presence Affidavit that is signed and notarized.
After your license application is approved by the GREC, and provided you have a sponsoring broker, you will receive an active license. It will be mailed by the office of the Commission to the office of your broker. Otherwise. You will directly receive an inactive license.
Pass the Georgia Real Estate Salesperson Exam
The final step to an Atlanta Georgia real estate license is to take the state exam through Applied Measurement Professionals, INC. (AMP). Schedule your state exam online through the AMP REAL system after paying a fee of $121. Browse the website of AMP for more information.
The state licensing exam consists of 152 multiple-choice questions. These are split into 100 questions for the national portion and the rest for the state portion. Both sections have to be cracked to pass the overall real estate exam.
You must apply for the real estate license in Atlanta within one year of your first examination date.
Obtain Errors and Commission Insurance
Obtaining an Errors and Commission Insurance is important as it helps to protect your real estate business from any mistakes made in rendering professional services. The insurance will cover your legal costs in this case. It is also known as E&O insurance and professional liability insurance.
Choosing the Right Real Estate School in Atlanta
Research Accredited Real Estate Schools in Atlanta
When you are choosing a real estate school in Atlanta for your coursework, ensure that it is accredited and the course is certified by the Georgia Real Estate Commission. This is to your benefit only as such courses are in tune with the curriculum of the real estate exam. Moreover, their practice exams replicate the real test so that you get the confidence to face test day.
Apart from the quality of the course aspect, also research the school’s curriculum and the delivery methods. These points are detailed in the next section.
Consider the School's Curriculum and Course Delivery Methods
Let us start with the course delivery methods.
Study practices and teaching styles of the selected school must match the learning methods that you are comfortable with. Otherwise, it will adversely impact the amount of information you can retain and the studying experience.
For example, if you prefer classroom study with textbooks and written notes, select a brick-and-mortar school with face-to-face instructors. However, for the tech-savvy, online courses are preferable because of the convenience that they bring to the table.
Online courses from RealEstateU are affordable without taking away anything from the quality of the course content. Ensure that you choose the right class format that suits your schedule and learning style.
Now, coming to the school’s curriculum, check the number of practice questions offered in the course. Typically, you will get them after every chapter or lesson but their number differs from school to school. The more the better as they give you the confidence for exam day and help to know whether you have understood the various concepts in the curriculum.
Evaluate the Reputation and Success Rate of the School
A reputed school has instructors who are licensed real estate and brokers. Apart from being experienced in the real estate industry, they provide a rich, insightful, and updated educational experience. An agent or broker will give real-life examples to assist you in understanding the lessons better.
The quality of a real estate school in Atlanta can be gauged by the number of students who attend and their success rate. More students mean more feedback and hence, greater the scope of the school to improve on its delivery.
Compare Costs and Payment Options for Real Estate Education
Before choosing a course and a real estate school in Atlanta, compare the cost and the payment options. Typically, online course packages range from $300 to $600 depending on the options offered. Check with the school if they have easy payment options spread out over a couple of months or so. Generally, this payment mode is restricted to high-end packages only.