How much does it cost to Get a Real Estate License?

Question

Also, when you get a license, how long is it good for?

Additional Details

If it varies by state, then what is it for Northern VA

Answer 1

Best Answer - Chosen by Voters

Northern VA is not a state.

There are some costs specific to the state's testing and license process. The state's website should have that information.

There is the cost of any study you might need to undertake to pass the test. If you buy a book, take a home study course or attend live classes the costs will vary. The live classes being the most expensive.

You will need a financial calculator to pass the RE test. They will ask some questions specific to loans and you need to be able to do the calculations. They are assuming you have a calculator that can handle mortgages. Similar for the courses - you need a calculator.

When you join a RE broker after having your license you will face other costs. Desk fees, insurance, RLMS membership fees and other things.

You need to decide why you want your RE license. You then need to consider if you need other training (sales, marketing, etc).

Many people find it is affordable to get started. They are many times surprised by the costs before they do a deal or two. Marketing is a big cost that happens each month if you want to really get your business going. Note that it very much is your business so most RE brokers are not going to invest in you and your business.

Try to work out a budget for a year or two as you will see limited income during that period.

Source(s):

John Corey
Real estate investor, 20+ years - multiple states and countries
http://johncorey.wordpress.com/ - advice for real estate investors

Answer 2

Try these. I hope they help! :)

Source(s):

http://www.realestateexpress.com/prelice…

http://www.virginiarealestateeducation.c…

http://www.mortgagenewsdaily.com/Real_Es…

Answer 3

Usually 4 years but don't know about your state, the cost is very low, it is the errors and omission insurance, the the board fees and dues that are high, that and the gas you have to keep putting in your car and the extra cost of additional car insurance to cover business clients riding with you.

Answer 4

You may want to contact your state board of real estate to find accredited schools. In my state (which is not Virginia) you are licensed for 2 years.

It isn't just the cost of the course that will cost you money. There are generally associated costs, a study book, background check, cost for the state test, the local real estate board fees, and a ton of little things when you get started. Business cards, stationary, signs, advertising - it all adds up. Plan accordingly.