A career as a real estate agent in Missouri can be very exciting, with a lot of personal and professional growth possibilities. With the diverse housing market in Missouri-from urban properties in St. Louis and Kansas City to rural homes across the state-there are ample opportunities for those looking to break into the industry. Like any professional career, however, this process of becoming a licensed real estate agent in Missouri requires clarity, time, effort, and the right resources.
The following is a step-by-step guide on some of the major requirements and process involved in getting your license to start a new career in real estate in Missouri. From pre-licensing education, exams, and on to broker employment, everything you need to know is here. Here are some steps that can help you to become a real estate agent in Missouri.
Step 1: Meet the Basic Eligibility Requirements
Before entering into the process of becoming a real estate agent, you have to meet a few basic eligibility criteria. These ensure that you are legally and financially qualified to start a real estate career in Missouri.
To qualify for the position of a licensed real estate agent in Missouri, you need to:
1. Be at least 18 years old: This is the minimum age to apply for a license with the Missouri Real Estate Commission.
2. Be a U.S. citizen or legal resident: You must be a resident of the United States or be authorized to work in Missouri.
3. Be a high school graduate or equivalent – One must have a high school diploma or GED to start applying for their license.
4. Have a clean criminal record – Felony and some forms of criminal convictions may make candidates ineligible to get licensure. The MREC will conduct a background check on you, but having a criminal record does not necessarily lead to your disqualification.
Step 2: Complete the Required Pre-Licensing Education
After attaining the minimum qualifications, the next in line is pre-licensing education. The state of Missouri requires that all candidates intending to sell real estate property undergo 72 hours of pre-licensing training prior to sitting for the state licensing exams. There are in-class or online options available to be taken when and where it best suits your needs and availability.
The pre-licensing education covers various vital topics including:
Real Estate Law: The legal concepts and applications of real estate transactions in Missouri, rights to property, the law of contract, and liability of agent and broker.
Real Estate Principles: The basic components of real estate, like property type, purchase and selling process of real estate, and market analysis.
Ethics and Professional Responsibility: The minimum standard ethics and practicing procedure that are followed by the real estate agents in Missouri.
– Real Estate Finance – Basic financing options, mortgage processes, and understanding interest rates and loan types.
– Contracts and Forms – An in-depth look at the various contracts and forms used in real estate transactions, including purchase agreements and disclosures.
Step 3: Pass the Missouri Real Estate Salesperson Exam
After completing your pre-licensing education, you’ll need to pass the Missouri Real Estate Salesperson Exam. This exam, administered by Pearson VUE, tests your knowledge of both general real estate principles and Missouri-specific real estate laws.
The exam consists of two parts: a national portion and a Missouri-specific portion.
– National Portion: 80 questions, covering general real estate topics like property ownership, land use, contracts, finance, and laws that apply across the United States.
– State Portion: 40 questions, focusing on Missouri’s real estate laws, rules, and regulations.
You must score at least 70% on each portion of the exam to pass. The total time allowed for the exam is 3.5 hours.
That’s why one should study using exam prep materials, practice tests, or even attend a preparatory course to make sure you are totally ready.
Step 4: File Your License Application
When you have passed the exam, you will need to send in your application to the Missouri Real Estate Commission (MREC) for a real estate license. MREC is responsible for processing the applications and issuing the license to its qualified applicants.
Application – The following should be provided to apply:
Coursework completion evidence: Evidence of education completion of pre-licensing, in the form of a transcript or certificate from your educational provider that includes 72 hours of coursework. Exam results: You will be asked to provide evidence that you have passed the Missouri Real Estate Salesperson Exam. Background check: You will need to provide fingerprints for a criminal background check as part of the application process.
– Application fee – The application fee is usually $85 dollars. It may be different, so you will have to visit the MREC website for the most current information.
When your application is processed and cleared, you will be issued with your license to practice as a real estate agent in Missouri.
Step 5: Find a Sponsoring Broker to Work Under
In Missouri, a real estate agent must practice under the auspices of a licensed real estate broker. A broker accepts responsibility for the actions of their agents; thus they are responsible for implementing procedures that ensure legality and ethics, and ongoing training and support.
Prior to practicing as an active real estate agent, you will be required to select a brokerage to apply through. Some key things to consider when deciding which broker to apply through include:
Commission Structure: How much of your commission will the broker take? Some brokers take a percentage of the commission. Others may offer a 100% commission model with desk fees.
Training and Support: Does the brokerage make training programs available, offer mentorship, or professional development opportunities? It is very important to work with a broker who will give great support to new agents.
– Company Culture: The environment and culture do mean something when it comes to a brokerage. Find one you will be happy in, or it challenges you to grow professionally.
– Technology and Resources: Most brokerages offer some sort of technology platform, marketing materials, and CRM tools to help manage leads and move a transaction across the finish line effectively.
After locating the broker, you will have to fill out a brokerage agreement and submit it to the MREC. This validates that you are working under that broker as your broker of supervision.
Step 6: Launch Your Career as an Agent
Once you have your license, and once you have found a brokerage to work with, well, you’re ready to go! As a new agent, here’s a few tips to get you started:
1. Networking – Real estate is a relationship-driven business. Networking includes attending industry events, joining local business organizations, and involvement in your community. The efforts put into all these activities will help you develop a solid network through which you will get leads and find clients.
2. Leverage Technology – Use the internet for listing platforms, reach potential buyers and sellers through social media, and utilize marketing tools. Tools like a real estate CRM system will help one stay organized and maintain client relationships.
3. Get Organized – Real estate involves a lot of paperwork and timelines. Stay organized by creating systems for tracking leads, managing listings, and keeping up with client communications.
4. Commit to Lifelong Learning: Real estate laws, trends, and technology are developing day by day. Continue learning through additional training, webinars, or certificates which may give you an edge in the market.
5. Be Patient and Persistent – Real estate can sometimes get some time to gain momentum. Since it’s a commission-based career, it may take some time to close your first few deals. Stay focused, work hard, and be persistent-your efforts will pay off.
Step 7: Maintain and Renew Your License
Real estate licenses in Missouri have a two-year validity. To renew your license, you will need to complete 12 hours of continuing education prior to the renewal period. These hours of education shall include:
3 hours of Missouri Real Estate Law
9 hours of Elective topics, which can also include ethics, business practices, or specialized areas such as commercial
You will also be required to file a renewal application and a renewal fee, usually about $50. Failure to complete the required continuing education or renew your license on time may be subject to penalties or suspension.
Conclusion
Becoming a real estate agent in Missouri is relatively easy, but it will take a lot of effort and time. You start off by fulfilling the eligibility requirement, then finish the education and exams, find a broker, and embark on lifelong learning-a very successful beginning in this dynamic field.
Whether you’re drawn to helping people find their dream homes or you’re interested in the investment side of real estate, the opportunities are endless. Follow the steps outlined in this guide, and soon you’ll be on your way to launching your real estate career in Missouri.
Good luck, and welcome to the exciting world of real estate!
