Working in Missouri’s property market can be a lucrative career move. However, you must get your license from MREC before you can start selling homes and managing properties on behalf of investors. With the growing popularity of online learning, getting your license is simpler than ever.
Herein, we offer a simple step-by-step guide on how to get your MO realtor’s license. The guide will include the prerequisites, fee breakdown, and tips to help you choose the right pre-licensing course.
Understanding the Prerequisites
Before you start looking for a school, ensure that you meet all of the prerequisites as required by MREC. As usual, you must be 18 years or older to work as a realtor anywhere in the U.S. Concerning education, a high school diploma is enough.
Another crucial requirement is to be a person of good moral character. Some prior convictions, especially those related to fraud, can disqualify you from working as a realtor or broker in Missouri.
Find a Reputable Real Estate School
Only schools approved by MREC are allowed to offer pre-licensing courses in Missouri. You have to choose between studying online vs. attending in-person classes at a local college. Both options are great depending on your daily routine.
Studying online has advantages, especially if you have a full-time day job. You can use the self-paced study curriculum and notes from the RealEstateU guide to complete the pre-licensing course. Online pre-licensing courses are also cheaper than attending physical classes.
How to Prepare for the Exam
After finishing the 72-hour pre-licensing program, it is time to set your sights on the state exam. Adequate preparation and revision can help you boost your chances of passing the exam. You can buy an exam preparation course or hire a tutor to help your revise for the state exam.
The exam covers various topics related to market laws and regulations, contracts, property valuation, and agency relationships. Exam registration is done online via Pearson VUE. You are required to pay the registration fee, which is around $62. However, you must pay the registration fee again to retake the test.
You’re Almost There
The last step is getting your license. Submit your application online alongside the relevant documents. You also need to visit a fingerprint collection center for the state to run background checks and ensure that you don’t have a checkered past.
You will spend around $ 41.75 for fingerprint collection and background checks. The license application charge will set you back around $90. All of these fees are only paid once, until you want to renew your license.
Getting Sponsorship
As a new realtor in MO, you must find a licensed broker to sponsor you. The type of broker you choose can make or break your career. Look for brokers with experience and a good reputation in the property market.
Their role is to guide and mentor you as you start your career as a property salesperson in Missouri. Ask about the commission percentage split and monthly flat fee before signing the contract and start working on your continuing education courses to help you stay updated with industry practices and regulations.
