Becoming a Licensed Realtor in Missouri | The Path to Success


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Missouri Realtor

In Missouri, becoming a realtor can be an exciting and rewarding career endeavor. A realtor is a licensed professional representing buyers and sellers in real estate transactions. They often work under the supervision of brokers and are responsible for marketing properties, negotiating deals, and managing the transaction process. As a realtor, you can help people find their dream homes, navigate the complexities of the real estate market, and start an LLC in Missouri.

However, before starting your journey to Becoming a Realtor in Missouri, you must complete several steps to obtain your real estate license. This comprehensive guide will walk you through the entire process, so you can confidently begin your new career.

Webinarcare Editorial Team will help you gain knowledge through thorough research and market study. Before becoming a realtor in Missouri, all the steps in this article must guide you.

What is a Realtor?

A realtor is a licensed real estate professional member of the National Association of Realtors (NAR) and adheres to their code of ethics. They may work as individuals, within a real estate brokerage, or as part of a limited liability company (LLC) or a corporation. Their services include representing buyers and sellers in real estate transactions, assisting with property management, and providing guidance on real estate investments, including rental properties.

The requirements to become a realtor in Missouri may vary, but here are the general steps:

  1. Education: Complete the required pre-licensing real estate education courses. In Missouri, this typically involves completing a certain number of hours of approved coursework.
  2. Examination: Pass the Missouri-approved real estate licensing exam. The exam tests your knowledge of real estate laws, practices, and ethics. Study materials and exam preparation courses are available to help you succeed.
  3. Application: Submit a real estate license application to the Missouri Real Estate Commission. This application includes documentation such as proof of education, exam results, background check, and fees.
  4. Background Check: Missouri requires applicants to undergo a criminal background check. This usually involves providing fingerprints and consent for the background investigation.
  5. Join a Brokerage: Agents must work under a licensed real estate broker in Missouri. Find a reputable brokerage that aligns with your career goals and values and provides new agents with the necessary support and mentorship.
  6. Membership: Consider joining the National Association of Realtors (NAR) and local real estate associations. Membership offers valuable resources, networking opportunities, and access to multiple listing services (MLS), simplifying clients’ buying and selling process.

It’s crucial to note that real estate licensing requirements can change, and it is recommended to check with the Missouri Real Estate Commission for the most up-to-date and specific requirements.

Embarking on the journey to become a realtor in Missouri is not simply about selling houses, it’s about building dreams, yours included. Take the leap and start an LLC. With every property you sell, you’re not just making a living; you’re creating a business that can evolve, grow, and create lasting success.

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How to Become a Realtor in Missouri

Suppose you’re considering becoming a realtor and want to form a professional corporation in Missouri. In that case, it’s essential to understand the steps and requirements involved in obtaining your license and starting your professional journey. This step-by-step guide will walk you through the entire process of becoming a realtor, from understanding the requirements to choosing a brokerage.

Step 1: Understand The Requirements

Before becoming a realtor in Missouri, you must understand the requirements to obtain your Missouri real estate license. Missouri has unique requirements, so it’s crucial to familiarize yourself with the specific rules and regulations. In general, to become a realtor in Missouri, you must:

  • Be at least 18 years old.
  • Have a high school diploma or equivalent
  • Complete the required pre-license education
  • Pass the Missouri real estate licensing exam
  • Submit your application and fees to the Missouri real estate commission
  • Complete a background check
  • Obtain Errors & Omissions (E&O) insurance

It’s important to note that Missouri may have additional requirements or prerequisites to become a licensed realtor. Check with the Missouri real estate commission for the most up-to-date information.

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Step 2: Complete Pre-License Education

To become a realtor in Missouri, you must fulfill Missouri pre-license education requirements. Typically, this involves completing a certain number of hours of coursework from an approved real estate school. The curriculum usually covers real estate principles, practices, and laws specific to Missouri.

When choosing a real estate school, ensuring the Missouri real estate commission approves them is important. Many schools offer online and in-person courses, so consider your learning preferences when selecting a program. Additionally, consider the school’s reputation and course pass rates, as this can indicate the quality of their instruction. However, you can still enroll in real estate courses before your licensing exam. Here are the real estate courses and schools in Missouri.

  • Missouri Real Estate School, Real Estate Express, and The CE Shop

Step 3: Pass The Real Estate Licensing Exam

After completing the required pre-license education, the next step is to pass the Missouri real estate licensing exam. The exam typically consists of two parts: a national portion that covers general real estate principles and a specific portion that covers Missouri real estate laws and regulations.

To prepare for the exam, consider using study materials and practice exams provided by your pre-license education provider. Additionally, seek out other resources, such as online practice tests and exam prep books, to ensure you’re well-prepared for the test.

On exam day, bring the required identification and any necessary materials. Remember to arrive early to allow for any registration processes, and be prepared to spend several hours at the testing center. Once you’ve completed the exam, you will receive your results. If you pass, you can move on to the next step in the licensing process. If you don’t pass, don’t be discouraged. Missouri allows multiple attempts, so take the time to review the areas where you struggled and retake the exam when ready. The exam fee is $62.

Make sure to pass the first attempt of the licensing exam.

Step 4: Submit Your Application and Fees

After passing the Missouri real estate licensing exam, you must submit your license application and fees to the Missouri real estate commission. The application typically requires you to provide information about your education, exam results, and background check. Be sure to complete the application accurately and thoroughly, as any discrepancies or omissions may delay the processing of your license.

The licensing fee in Missouri costs $50. However, there are additional costs associated with processing your background check. Review the fee schedule for Missouri and ensure you submit the correct amount with your application.

Step 5: Complete a Background Check

You must complete a background check as part of the licensing process in Missouri. This ensures you meet the moral character requirements of the Missouri real estate commission. The background check typically involves submitting your fingerprints and any necessary forms to the appropriate agency for processing.

Review the guidelines for Missouri and follow the instructions to ensure your background check is completed accurately and efficiently.

Step 6: Obtain Errors & Omissions (E&O) Insurance

Obtaining Errors & Omissions (E&O) Insurance is required to obtain your real estate license in Missouri. E&O insurance is a type of professional liability insurance that protects realtors from claims related to mistakes or negligence in their professional services.

If E&O insurance is required in Missouri, research and select a policy that meets the state’s requirements before submitting your license application. Even if it’s not a requirement in Missouri, it’s still a good idea to consider obtaining E&O insurance to protect yourself and your business—the costs of obtaining E&O insurance range from $500 to $1,200 per year.

Step 7: Choose a Brokerage and Start Your Career

Once you’ve obtained your Missouri real estate license, the final step is to choose a brokerage to work under. A brokerage is a real estate firm that employs licensed agents and brokers. As a new realtor, you’ll work under the supervision of a broker who can provide guidance, support, and resources to help you succeed in your new career.

When choosing a brokerage, consider its reputation, commission structure, training and support programs, and company culture. Selecting a brokerage that aligns with your professional goals and provides an environment where you can thrive is essential. You can also find ways to become a realtor by starting a rental property LLC in Missouri.

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Step 8: Pursue NAR membership

Join the National Association of Realtors to become a realtor. Find your local real estate association and confirm the membership criteria, including an application and an annual fee. If you join NAR, you can enroll in continuing education and other professional courses. You can also access market data and services to help you be more efficient as a realtor.

NAR

Average Income of a Realtor in Missouri

The average income for a realtor in Missouri varies depending on experience, location, and market conditions. Still, according to the Bureau of Labor Statistics, the median annual wage for a realtor in Missouri is around $47,000.

FAQs

What qualifications do I need to become a realtor in Missouri?
In Missouri, you need to be at least 18 years old, have a high school diploma, and complete 72 hours of pre-license education.
Where do I find approved pre-license education providers in Missouri?
The Missouri Real Estate Commission website provides a list of approved pre-license education providers.
How much does it cost to become a realtor in Missouri?
The cost of becoming a realtor in Missouri varies depending on factors like education and licensing fees, exam fees, and membership dues.
How long does it take to become a realtor in Missouri?
The process of becoming a realtor in Missouri can take anywhere from a few months to a year, depending on the individual’s pace.
Do I need to have a salesperson license to become a broker in Missouri?
Yes, in Missouri, you need to have an active salesperson license for at least two years before applying for the broker license.
What is the Missouri Real Estate Commission?
The Missouri Real Estate Commission (MREC) is the state agency that regulates real estate activities in Missouri, including licensing and continuing education requirements.
Are there any legal disqualifications for getting a real estate license in Missouri?
Yes, a history of certain criminal convictions or license revocations can disqualify an applicant from obtaining a real estate license in Missouri.
Can I take the Missouri real estate courses online?
Yes, Missouri allows pre-license courses to be taken online from approved education providers.
Can I become a realtor in Missouri if I have a criminal record?
It depends on the severity and nature of the criminal offense. Some convictions could disqualify an applicant from getting a real estate license in Missouri.
How often do I have to renew my Missouri real estate license?
Missouri real estate licenses expire every two years, and renewal is required by June 30 of each renewal year.
Is there a continuing education requirement for Missouri real estate agents?
Yes, real estate agents in Missouri are required to complete 12 hours of continuing education every two years.
Can I transfer my real estate license to Missouri from another state?
Yes, you can transfer your real estate license from another state to Missouri if you meet certain requirements and pass an exam.
How many times can I take the Missouri real estate exam if I fail?
Missouri allows unlimited attempts to pass the real estate exam within a year of completing the pre-license course.
What type of insurance do Missouri real estate agents need?
In Missouri, real estate agents need to have liability insurance as part of the licensing requirements.
Can I work as a part-time real estate agent in Missouri?
Yes, you can work as a part-time real estate agent in Missouri, but you will still need to complete the required education and licensing processes.
What are the rules around advertising as a real estate agent in Missouri?
Real estate agents in Missouri must include their name and brokerage’s name in all advertisements.
Where do most Missouri real estate agents work?
Real estate agents in Missouri work in a variety of settings, including residential and commercial real estate agencies, property management companies, and related fields.
How much can I expect to earn as a real estate agent in Missouri?
The typical salary for a real estate agent in Missouri varies, but it is usually commission-based, with earnings being affected by factors such as the market and individual performance.
Are there any ethical requirements for real estate agents in Missouri?
Yes, Missouri real estate agents must abide by a code of ethics that covers honesty, integrity, and fair dealing with clients.
Can I sell properties for family members without a Missouri real estate license?
No, Missouri law requires a real estate license to engage in any real estate activities, including selling a property for family members.
How can I find a mentor in Missouri real estate?
Networking, attending industry events, joining local real estate associations, and asking experienced agents are great ways to find a mentor in Missouri real estate.
Can I become a real estate agent and a broker at the same time in Missouri?
No, you need to have an active salesperson license for at least two years to apply for the broker license in Missouri.
What if the person managing the real estate transaction is not a licensed real estate agent in Missouri?
Only licensed real estate agents in Missouri can perform real estate activities, including transaction management.
Are there any fees for taking the Missouri real estate exams?
Yes, there are fees for both the real estate pre-licensing courses and the exam in Missouri.
Is the Missouri Real Estate Commission responsible for handling disputes between agents and clients?
No, the Missouri Real Estate Commission does not handle disputes between agents and clients but can discipline or revoke the licenses of violating agents through state complaints.
Can a Missouri real estate agent conduct real estate activities outside of Missouri?
Yes, a Missouri real estate agent can conduct real estate activities outside of Missouri but may be subject to different licensing and regulations.
How long are Missouri real estate classes valid?
In Missouri, pre-license education generally finishes within one year, and the license exam is valid for six months from completion.
What are the standing requirements to become a realtor in Missouri?
To become a realtor in Missouri, you need to complete the pre-license coursework from a state-approved education provider and pass the Missouri real estate exam.
How long does it take to complete the pre-license courses for a real estate license in Missouri?
On average, the pre-license courses take around six to eight weeks to complete.
Is there a minimum age requirement to become a real estate agent in Missouri?
Yes, you need to be at least 18 years old to become a real estate agent in Missouri.
Do I need to have prior experience in real estate to become a real estate agent in Missouri?
No, you do not need prior experience to become a real estate agent in Missouri.
What are the education requirements to become a real estate agent in Missouri?
To become a real estate agent in Missouri, you must complete 72 hours of pre-license coursework from a state-approved provider.
Can I take the real estate exam online in Missouri?
No, Missouri requires candidates to take the real estate exam in person.
How much does it cost to obtain a real estate license in Missouri?
The cost varies, but on average, it costs between $500-$1000.
How often do I need to renew my Missouri real estate license?
In Missouri, you must renew your license every two years.
Are there any criminal history restrictions to obtain a real estate license in Missouri?
Yes, candidates must pass a criminal background check to obtain a real estate license in Missouri.
Does Missouri offer reciprocity with other states for real estate licenses?
Yes, Missouri offers reciprocity with several other states for real estate licenses.
Do real estate agents in Missouri need to carry insurance?
No, real estate agents in Missouri are not required to carry insurance.
What is the passing score on the Missouri real estate exam?
The passing score on the Missouri real estate exam is 75.
Can I work as a real estate agent part-time in Missouri?
Yes, you can work as a real estate agent on a part-time basis in Missouri.
How much can I expect to make my first year as a real estate agent in Missouri?
It varies, but on average, new agents earn less than $50,000 their first year.
Does Missouri require continuing education for real estate agents?
Yes, Missouri requires 12 hours of continuing education for real estate agents.
Can I apply for a Missouri real estate license if I have a bankruptcy in my credit history?
Yes, a bankruptcy does not automatically prevent you from obtaining a real estate license in Missouri.
What is the average commission rate for real estate agents in Missouri?
The average commission rate for a real estate transaction in Missouri is around 6%.
Do I need a business license to work as a real estate agent in Missouri?
No, unless you’re starting your own real estate agency, you do not need a business license to work as an agent in Missouri.
Can a real estate agent in Missouri work independently?
Yes, real estate agents in Missouri can work independently or for a brokerage.
Is a college degree necessary to become a real estate agent in Missouri?
No, a college degree is not required to become a real estate agent in Missouri.
Can I be disqualified from becoming a real estate agent in Missouri for poor credit?
No, unless your financial issues have led to a criminal record, poor credit should not disqualify you from becoming a real estate agent in Missouri.
Is the Missouri real estate exam challenging?
Yes, the Missouri real estate exam is challenging, and candidates are encouraged to study hard for it.
Can a non-resident become a real estate agent in Missouri?
Yes, non-residents can obtain a real estate license in Missouri.
Are there any restrictions on advertising as a real estate agent in Missouri?
Yes, real estate agents in Missouri must comply with state and federal advertising laws.
What is the average length of time it takes to sell a home in Missouri?
The average length of time it takes to sell a home in Missouri is around 60-90 days.
Are real estate agents in Missouri classified as independent contractors or employees?
In Missouri, real estate agents are typically classified as independent contractors.
Can I get a Missouri real estate license with a felony conviction?
It depends on the type of felony and the timeframe when it happened. Missouri reviews such cases on a case-by-case basis.
What is the maximum amount of time Missouri will grant an inactive license?
Missouri real estate licenses cannot be inactive for more than three years.
Can a real estate agent practice outside of Missouri while licensed in the state?
No, a real estate agent with a Missouri state license can only practice real estate within state borders.

Also Read

How to Save Money While Starting a Becoming Realtor in Missouri

The first step to saving money as a new realtor is to set a strict budget and stick to it. Determine how much money you are willing to invest in your new career and create a realistic plan for how you will spend it. This will help you avoid overspending on unnecessary expenses and ensure that you are prepared for any unforeseen costs that may arise.

Another way to save money while starting a career as a realtor in Missouri is to take advantage of free or low-cost resources. There are many online platforms and networking events specifically designed for real estate professionals that can provide valuable information and support without costing a fortune. Additionally, many real estate companies offer training programs and resources to help new agents get started, so be sure to take advantage of these opportunities.

Networking is also key to saving money as a new realtor. By building relationships with other real estate professionals, you can gain access to referrals and business opportunities that can help you grow your business without spending a lot of money on marketing and advertising. Attend local real estate events, join professional organizations, and reach out to experienced agents for advice and support.

When it comes to marketing your real estate business, there are plenty of cost-effective strategies you can use to save money. Consider creating a strong online presence through social media and a professional website, which can help you reach potential clients without spending a lot on traditional advertising. You can also participate in local community events and sponsorships to increase your visibility and attract new clients.

Finally, don’t overlook the importance of education and training in saving money as a new realtor. By investing in continuing education courses and professional development opportunities, you can stay up-to-date on industry trends and regulations, which can help you avoid costly mistakes and ensure your success in the long run. Additionally, by learning from experienced agents and mentors, you can gain valuable insights and advice that can help you navigate the real estate market with confidence.

In conclusion, starting a career as a realtor in Missouri doesn’t have to break the bank. By setting a budget, taking advantage of free resources, networking with other professionals, using cost-effective marketing strategies, and investing in education and training, you can save money and set yourself up for success in the real estate industry. By being strategic and proactive in your approach, you can build a successful real estate business that is both financially sustainable and personally fulfilling.

Conclusion

Becoming a realtor in Missouri is a rewarding career choice that offers flexibility, the potential for financial success, and the opportunity to help people navigate the complex world of real estate. Following the steps outlined in this guide and dedicating yourself to learning and growth, you can embark on a successful and fulfilling career as a realtor in Missouri.

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