If you’re thinking about becoming a real estate agent, you’ve probably been reading quite a bit online or talking to family and friends about the decision. And, like with many industries, there are a lot of myths out there!
In regards to the process of becoming a real estate agent, there are a couple of misconceptions. In Pennsylvania, you’re required to take two courses – they’re each 30 hours, and they can be completed online or in a classroom. You’ll also have to take (and pass!) a couple of formal exams, and submit paperwork to the state. Generally speaking, the fees for the necessary courses, exams, and documentation are a little under $1,000.
Another thing that isn’t necessarily intuitive to brand new agents is that in order to actually sell real estate and be a licensed salesperson in PA, you must be signed to a real estate agency with a broker. An agent may be licensed to only one agency at a time. Some folks want to open up their own agency and work for themselves right out of the gate, but unfortunately this requires a broker, and you can’t become a broker without first becoming an established real estate agent.
It’s also important to keep in mind as you prepare for your new career that it isn’t easy to predict your income as an agent. Nearly all agents are paid entirely by commission, so the sky is the limit, but many agents report that it can take about 3-6 months of work in order to really get your feet under you.
Similarly, commission numbers aren’t set in stone, both in regards to how clients pay the broker, and also how the broker splits the percentage with you. Every agency offers a different commission structure. Some are much better than others, so be sure to shop around and get a sense of what it’s like in your area! In addition to the commission splits, many agencies have hidden costs, like desk fees, mentor fees, or make you pay for your E&O insurance. Be sure to ask about the entire breakdown of costs and fees, because this can really add up.
At EveryHome, we’re pleased to offer highly competitive splits with our agents, plus there are no fees whatsoever. If you’re interested in learning more about becoming an agent, or what it’s like to work at EveryHome, be sure to give us a call or email us at katie@everyhome.com. As we expand throughout the region, we’re always looking for friendly, helpful people to join our team! Click here to learn more about careers with EveryHome.