A lot of people are interested in how to become a real estate agent, and it’s not hard to see why. Real estate is an exciting and prosperous industry, and the job can involve a lot of excitement and variety. Agents are able to travel around from place to place, support their local communities, meet lots of new people, and make some impressive salaries in many cases too.

However, don’t be fooled into thinking that this is an easy profession. Real estate is a notoriously competitive industry, and the job demands a lot of hard work, along with many specialist skills such as great communication, adaptability, the ability to cope under pressure, the ability to work both independently and as part of a team, and much more.

If you think you’ve got what it takes and fulfill all of the key real estate agent requirements, you’ll probably want to find out more about how to become a realtor and how to get your hands on a realtor license. This guide will take a close look at how to get into real estate, covering all the key real estate agent requirements you need to get your realtor license.

Why Become a Real Estate Agent? 

First, let’s look at some reasons why you might be interested in finding out how to get into real estate and becoming a realtor in the first place.

• Money – Salary is always something that people keep in mind when it comes to choosing a profession, and the money you can make in the real estate industry can be pretty impressive. Top-tier agents earn six-figure salaries and there are plenty of truly elite realtors who bring home even higher salaries.
• Variety – Another big benefit of becoming a realtor and working in real estate is the variety of this kind of work. Every day can be different when you work in real estate, and you won’t feel stuck in the same boring routines or repetitive patterns, as you’ll always be meeting new clients and working with different properties.
• Satisfaction – Another good reason to get your realtor license is the job satisfaction you can enjoy from working in this field. Buying and selling homes are huge milestones in people’s lives, and you get to help them through the process. It can be really rewarding to work in this way, seeing the smiles on people’s faces when a sale goes through.
• Ease – A lot of jobs require college degrees and years of education, but real estate is a surprisingly easy field to get into. When you look into how to become a realtor, you might be amazed at how easy it can be. You don’t need a college degree, and all you need to do is fulfill the necessary requirements to obtain your license.

Steps to Get a Realtor License

Now that we’ve seen some of the benefits of getting into real estate, let’s now look at how to become a real estate agent in detail, with the five key steps you need to follow to get your realtor license.

Step 1: Take a pre-licensing course 

The first step for how to become a realtor is to take a pre-licensing course. This should only cost around $200 to $300, but prices can vary from state to state. Regardless of your location, states across the US demand that those interested in becoming realtors undertake pre-licensing training before taking any kind of licensing exam, so this step is mandatory. 

There’s a lot to learn about real estate agents and real estate asset manager responsibilities if you want to get into this business. However, the amount of training you need to get can vary from place to place. Aspiring realtors in California need to take 130+ hours of training, for example, but in some states, you only need about 60/70 hours of training instead. 

The pre-licensing course will basically introduce you to all the fundamentals of real estate, teaching you terms and phrases that are key to the profession, along with essential real estate practices such as appraisal. The course should also go over the legal side of the job too. 

You can usually take these courses either online or in physical classroom settings with other students, so it’s up to you to pick the style of learning that suits you best.

Step 2: Take the licensing exam 

Once you’ve fulfilled the training requirements for your home state, you’ll next need to sign up and take the licensing exam. Again, it’s important to note that the specifics of this process can vary from location to location. It’s wise to visit your state’s real estate commission website to learn more. 

Usually, the exam is split into two sections: one section focuses on general real estate practices and federal laws, while the second section is more about the legal side of realtor work in your specific state. Both of these sections feature multiple-choice questions, and there can be up to 100 questions in each section. 

Some questions may include math, such as working out the tax on a certain property, and you’ll be allowed to bring a calculator into the examination room to help out. It’s also worth noting that most states provide sample papers for you to try out before taking the real exam, so this can be a really good way to get ready and help with any pre-exam nerves or stress you might be experiencing. 

Pass rates vary from state to state, and some state papers are considered harder than others, but even if you fail, you can usually just book another attempt and try all over again. In fact, you usually have two years from your first attempt, during which you can take the exam as many times as necessary until you pass. If the two-year period expires, you’ll have to undertake training again.

Step 3: Active your real estate agent license 

Once you’ve passed the test, you’ll need to make sure to actually activate your license. This is a really important step because without activation, your license isn’t technically of any real use to you and you won’t be legally allowed to start engaging with clients and selling homes. 

To proceed with activation, you’ll need to once again visit your state’s real estate commission site. The process should be clearly explained on the site and you may have to pay fees of anywhere from $200 to $400 to activate the license. 

You’ll then want to join up with your local multiple listing service (MLS). Being a part of your local MLS is really important, as this is the system you’ll be using to list properties for sale and get more clients. Again, there will be a fee to pay for this, and costs can vary from place to place.

Step 4: Consider becoming a Realtor® 

The next step for how to get into real estate is to consider becoming an official Realtor. In case you aren’t aware, real estate agents aren’t technically allowed to be classed as true “Realtors” unless they become members of the National Association of Realtors. So this is something you’ll want to do if you want to use that title for yourself. 

Fortunately, joining the association is really easy and comes with lots of fun benefits like access to discounted educational resources to strengthen your real estate property manager skills, financial management assistance, and in-depth market data you can use to drive more sales. Plus, being able to call yourself a Realtor gives you a lot more credibility in the eyes of clients.

Step 5: Join a brokerage 

Once you’ve fulfilled all of the necessary real estate agent requirements and got your license activated, you’ll need to join a brokerage. This will allow you to legally start practicing real estate in your state. Brokers are a key part of the process, as they’re legally obligated to oversee transactions and make sure that all agents and realtors abide by the law. 

Fortunately, it’s quite easy to join up with a local brokerage, as many pay by commission, so they aren’t really taking any risks of losing anything by bringing new agents on board. From there, it’s up to you to work hard and start selling some homes.

How much do real estate agents make? 

One of the big questions many people have in regard to becoming a real estate agent is about how much money they can expect to make. Well, the answer is that it depends. Real estate agents typically work by commission, so they make money based on the number and value of the properties they sell. 

So, if you’re a good agent working with high-value properties, you can potentially make a lot of money, but when you’re just starting out and struggling to get your first sale, it can be more of a challenge. 

Still, most agents earn pretty well, with statistics showing that the average salary is just over $45,000. The top 10% of agents earn much more, in excess of $165,000, and those at the very top of the ladder can earn millions per year just for selling a few very expensive, luxury properties in high-value areas.

The Bottom Line

Overall, real estate can be a great line of work, with a lot of advantages and big rewards for those who are willing to put in the time and effort to succeed. Follow these steps and start learning more about real estate if you’re interested in giving it a try.

Las Vegas is one of the most welcoming cities in the world, offering real estate options in a wide variety of price ranges. Often cited as the “Entertainment Capital of The World,” Las Vegas can be a surprisingly beautiful and peaceful location despite the common stereotypes you might hear. And let’s not forget the very low crime rates!

 

That’s right, peace and quiet. Las Vegas is actually mostly like living in the suburbs of any other city, apart from when you take a stroll down the strip, which is where you will find the quint-essential, neon-soaked Las Vegas experience. 

 

But, other than that, all the best neighborhoods in Las Vegas are the very definition of the suburbs. On top of this, the vast majority of neighborhoods are safe and boast relatively low crime rates compared to other areas in the nation. 

 

As for the weather, It tends to get pretty hot in the summer (as you might expect), with temperatures sometimes going over 100°F (38°C), while the winter months get as low as 38°F (3°C). However, most commercial property management Las Vegas agents will recommend that you get a house with a pool, so you can kick back, relax, and enjoy the scenery. 

 

The thing is, the best Las Vegas neighborhoods are not necessarily the most expensive (depending on your taste and budget). You will also need to check Nevada property records to confirm that you are up to date on any deed, title, and tax information. The median house price tends to fluctuate around $300,000, which is pretty reasonable considering you’d be living near stars such as Nicolas Cage, Celine Dion, Floyd Mayweather, and Mike Tyson. With that said, let’s go over the six neighborhoods we deemed as the best places to live in Las Vegas.

 

Our list of 6 best neighborhoods in Las Vegas:

 

• Centennial Hills
• Green Valley South
• Rancho Charleston
• Summerlin
• Whitney Ranch
• The City of Henderson

 

Centennial Hills

The Centennial Hills is located in the north-western part of the city and is considered to be one of the best Las Vegas neighborhoods for various reasons. Firstly, the real estate prices here start as low as around $120K for a two-bedroom house, but they go up to nearly $2M. Currently, the neighborhood has several schools; it boasts well-kept yards, is pet friendly, has easy parking, and has a chilled vibe.

 

According to the residents, there are a lot of respectful families living there, it’s not overly crowded with shopping centers, and there is some nightlife for those who want to seek it. However, it’s more renowned for having an easy-going spirit. It is great for walking or running since there isn’t too much traffic, which is great for families with young children too. 

 

Additionally, there are also gyms, arts & entertainment venues, cafés, and restaurants to try out.

According to the latest FBI released data, the crime rate for 2019 was 93% higher than the national average. Translated to daily life, a single Centennial Hills resident has a 1 in 21 chance of being a crime victim in a year, so that’s once every 21 years on average, which is quite low.

 

Green Valley South

Green Valley South is located in the south-eastern corner of Las Vegas, diametrically opposite Centennial Hills, in Henderson. And, it also has a dense suburban vibe, with most homes owned by their residents. It has a population of around 30k, and a median home is valued at around $300K here.

 

The public schools here are considered above average, and the neighborhood also has shops, restaurants, cafés, and parks. The crime rate here is 29% under the national average, with violent crimes being 68% lower and decreasing!

 

A Green Valley South resident has a 1 in 57 chance to be a crime victim in a year, meaning once every 57 years on average. This neighborhood is one of the safest places in Nevada, and many sources confirm property management laws are of the highest standard.

 

Rancho Charleston

Rancho Charleston has some of the lowest real estate prices in the entire area. Prices for houses go as low as $90K, but they also go up to over $3,5M. The rent can also be quite reasonable, as low as $300 but ranging to up to $7K. As far as diversity goes, this is the place to be.

 

This neighborhood is located at the very center of Las Vegas, but it also keeps much of the suburban feel. Because it is close to everything, it is a popular choice for professionals. Here you can do anything Las Vegas offers, like shopping, gambling, going on a tour of the late Michael Jackson’s house (the Thriller Villa), and much more.

 

However, with the area being more centrally located, it also has a slightly higher crime rate, with Rancho Charleston’s rates being almost 500% over the national average. Here, a single person has a 1 in 7 chance to become a crime victim yearly. The neighborhood has around 36k residents, over 13K homes, and it is still one of the best places to live in Las Vegas.

Summerlin

As far as community goes, Summerlin is the best there is. It is an area positioned perfectly on the western edge of the city, partially within the city limits and partially within Clark County. It spans more than 22,500 acres of land, most of it parks (230 parks currently), and also a population of around 46k.

 

However, living in such a premium location has its cost. The average price for a median home is just shy of $400k, while they go up to $19.5M! It has public and private schools, resort hotels, recreational facilities, shops, entertainment centers, and everything one might need for nice city life.

 

The Money magazine counted Summerlin in their “Best Places to Live in America” list in 2014, and the National Geographic Adventure proclaimed it the “#1 best place to live and play” in 2007. Crime rates are also some of the lowest we’ve seen, at 51% lower than the average rate nationwide and a 1 in 83 chance for a resident to be a crime victim yearly.

 

Whitney Ranch

Whitney Ranch is one of the best neighborhoods in Las Vegas to settle down in. It is located in the Henderson area, in the south-east, and has a population of around 39k currently. Home prices range from $200K to over $600K, which is in the affordable spectrum, and average rent is a little over $1.2K.

 

Compared to the national average, this is has a 300% higher crime rate, where a citizen has a 1 in 11 chance to become a crime victim per year, but the rate is decreasing. There are several schools, shopping centers, restaurants, and things to do with your family, while there is still some nightlife to be enjoyed there too. 

 

The City of Henderson

The City of Henderson includes the aforementioned Green Valley South and North, and Whitney Ranch neighborhoods, but also several others like the Macdonald Ranch, Seven Hills, Gibson Springs, and more. It is located 26km (16miles) south-east of Las Vegas Valley and has a population of around 320,000, according to the latest census info.

 

The city includes Lake Las Vegas to the north-east, which is home to cool country clubs, and there are 62 parks and many trails to enjoy all around Henderson. Most areas of the city are well connected, and people claim you can get to anywhere in the city in 45 minutes max.

 

It still keeps the suburban feel, and it is safer than any safe neighborhoods in Las Vegas. It was the safest city in America ranked by Forbes in 2018 and 2019, and it has a separate police force from Las Vegas. There are plenty of opportunities for a vibrant social life in the City of Hendeson, from community events to entertainment and culture. It would certainly be a great place for you to call home. 

 

Property management is a stable and challenging job that requires a certain skill set. Some people are not cut out for this sort of job. However, if you have the right property manager skills then the job can be rewarding and enjoyable.

 

In this guide, we’ve explained the top 7 property manager skills. Whether you are going into commercial property management or residential.

Innovative and Flexible Mindset 

The world of real estate and property management is changing all the time. You need to be willing to innovate and take a flexible approach to the industry. There may be new applications and software that can make your life easier, but only if you are willing to embrace them.

 

In a world where technology is changing all the time then being flexible enough to embrace it is one of the key skills for real property management. On top of this, you should be flexible regarding what clients and property owners want. Some owners will take a very different approach to others, and want you to understand their needs.

Detail-Oriented

As a property manager, you will have to manage a lot of different aspects of a lot of different properties. Deadlines, upkeep, and even making appointments and meeting people to show them houses or properties they may want to rent. You need to be the sort of person who is happy to take all of this on, and not let any details pass you by, from ensuring rent is paid to booking the maintenance services for the right time.

 

The state of the property might also be your responsibility. Real estate and property management involve keeping records, and you might need to keep a very close eye on the state the property is actually in before and after tenants.

 

Vendor Relationships

Real property management involves a lot of spinning plates. You need to be able to keep track of a lot of different people as well as properties. This includes keeping positive relationships with vendors. You will probably work very closely with vendors such as electricians, cleaners, plumbers, and more.

 

Ask any property manager and they will tell you that it is not a job you can do without a lot of reliable people to help you, and this includes tradespeople. To ensure that you always have someone to call in an emergency, you should keep strong relationships with vendors. This can be even more difficult if you manage properties across multiple destinations. You can see how it helps to pay close attention to detail.

Transparency

Sadly, a lot of people don’t trust property managers and landlords. Historically, a lot of people have taken advantage of those that need to rent homes rather than buy. There are property managers out there whose ethics are lacking.

 

In the modern day, this is not something that you can get away with. There are plenty of industry organizations that promote the ethics of landlords and property managers and ensure that the rules aren’t being broken. Each state has its own rules and regulations on properties, and some control rent rates, and the state the house must be in legally, to provide an adequate dwelling.

 

For all of these reasons, it is a good idea to be transparent with everyone. Only tell the truth and keep everyone in the loop about all aspects of the home. It is far better to tell a potential tenant about issues they may come across and to inform them of all the costs involved with the property, rather than let them run into any surprises and end up being upset or angry.

Proven Operational Procedures

Knowing how to go about things from an operational point of view is vital. A property manager might end up having to do a lot of remote work, and constantly be on the road visiting houses and making appointments with people. That means that you can’t rely on anyone else for the operational procedures.

 

You need to be able to work independently, and for that, proven procedures regarding property letting, maintenance, and all of the legal procedures around real estate and property management.

 

If you work within a property management agency then it can be easier to build up these skills, working with someone who is experienced. There are also a number of courses and qualifications in property management which can help you to implement the right procedures.

 

Having a certain method of doing things can make things a lot simpler for you. If you know the protocol then you will be able to follow it for each property you manage.

Communication Skills

You may have deduced this already from the five property management skills we’ve mentioned.

 

Think of it this way, if something goes wrong in a property, you might have to speak to a lot of people. The tenants may contact you to tell you about it, then you may need to relay this information to the owner of the property. Next, calling a vendor, making an appointment to fix the issue, and then telling the tenant about it to ensure they can be there. This is all assuming no more issues crop up. 

 

All of this means that you need communication skills as part of your real property management skills. As well as keeping everyone informed of what’s going on in all of the properties you manage, communication skills also relate to how you deal with people. You should be able to stay calm, and not get flustered, and speak to everyone in a respectful and generally upbeat way. You are representing a property management company and the owners of the property, so this means that you need to be professional at all times.

Organizational Skills

It is very easy to fall behind if you are not organized. On top of this, being disorganized when it comes to bills, invoices, and appointments can even cost money. Forgetting to renew an insurance policy or failing to pay an invoice on time can be very costly errors.

 

If we were to pick out one single skill that is the most important for property managers then the organization may well be that skill. A lot of solo and independent work means that you can’t rely on others to keep everything in order.

 

As a property manager, you have responsibilities to the owners of the property, as well as the tenants, and you shouldn’t let things go wrong because of simply being disorganized. Managing your diary and your email and telephone communication can be one of the most important things to ensure that you don’t let things slip you by.

 

Conclusion

Property management is a career that isn’t going anywhere in a hurry. Property owners are always looking for people to help with their needs, managing tenants, or even commercial property.

 

If you are the kind of person who has a close attention to detail and can stay organized and calm, even in stressful or overwhelming situations, property management might be the ideal career choice for you. You can work on most of the other skills required, such as learning about the industry, but if you aren’t naturally organized and communicative then this is probably not the job for you.

When you become a rental property owner, one of the first things you have to decide is whether you want to take on the responsibilities of a landlord or hire a property management firm to do the hard work for you.

To gain a better understanding of these two choices, our comprehensive guide details the pros and cons of each:

 

Landlord

A landlord is essentially a property’s gatekeeper, with responsibilities to both the rental business and the tenants. Some of them include:

• Finding new tenants
• Marketing/Advertising
• Collecting rent
• Setting rental rates
• Repair and maintenance

Although, the aforementioned tasks can be challenging, being a landlord has its advantages:

• Income: You get a monthly check to pay the property’s mortgage and – dependent on current rental rates – make a sizable profit as well.  
• Tax deductions: You can deduct the costs of replacing water pipes, replacing damaged furniture, professional services, and more.

Cons include:

• Vacancies: If your property is vacant, it can’t generate an income, making it essentially worthless. It’s up to you to create and implement advertising and marketing campaigns to attract applicants, screen them, and much, much more.  
• Legal issues: You must remain current on the Nevada’s land and property legislations and laws to know where you stand when it comes to evictions and other legal issues.

Property Management Firm

Every savvy entrepreneur knows that it’s better to work smarter, not harder. And sometimes it’s just good business to have a professional do something that you don’t want to do. For instance, some of the responsibilities that you can expect your property management company to take over include:  

• Finding new tenants
• Advertising/marketing
• Delegating repair and maintenance duties
• Collecting rent
• Setting rental rates

 

Some of the benefits that come with going this route include:  

• Higher-quality tenants: They use rigorous screening processes to cull the reliable tenants from the bad.
• Shorter vacancy cycle: Experienced companies, like RAM Real Estate Asset Management, have effective strategies to attract new tenants as well as a time test tenant retention policy to keep existing ones happy.
• Fewer legal issues: The property managers at RAM are always up-to-date on the latest laws in the real estate industry. This knowledge ensures that your property – and how it’s ran – is legally compliant, shielding you from frivolous lawsuits.
• Less responsibility: You won’t have to handle as many tasks as before, giving you more time and freedom to invest in other things.  

There aren’t many disadvantages to hiring a property management company, but one of the biggest is cost – you will either be charged a flat annual fee or anywhere from 8 to 10% of the monthly rent.

At the end of the day, the decision to become a landlord or hire a property management company is up to you. No matter what you decide, you must take the necessary steps and adopt effective strategies that bring about your long term success.