How To Become A Real Estate Agent In Tennessee
If you want to work as a real estate agent in Tennessee, you need first learn about the licensing requirements. For prospective real estate sales agents, each state often has various license and schooling requirements. Learning more about Tennessee licensure requirements might help you determine whether this is the proper career path for you and your objectives. In this post, we will look at how to become a real estate agent in Tennessee, some extra certifications to consider, and pay and employment outlook statistics.
Step #1: Comply with all licensing requirements
Before you begin your pre-licensing course, there are a few requirements to consider. One usual condition is that you have had no criminal background in the previous two years. Other requirements include a high school diploma or GED and be at least 18 years old.
Step #2: Finish pre-licensing education
In Tennessee, prospective real estate agents must complete 90 hours of pre-licensing study. This consists of a 60-hour training and a 30-hour course that covers fundamental real estate concepts and new broker affiliate practices. Many schools combine these two courses into a single package, making it simple to finish this education.
Your licensing requirements may differ if you are a licensed attorney, have a degree in real estate, or hold a license in another state. It's a good idea to check with the Tennessee Real Estate Commission about your individual circumstance. This might assist you in learning about the unique education and test requirements for your specific scenario.
Step #3: Pass final examinations
You may take the final test after you've finished your 90 hours of study. This validates your understanding of real estate practices and rules and aids in your preparation for the real estate affiliate broker test. This test requires a minimum passing score of 70%. Taking practice exams might help you assess if you're prepared to take this exam.
Step #4: Successfully complete the real estate affiliate broker exam
PSI Services is the place to go to book your Tennessee real estate exam. You have six months to finish your test before having to repeat your pre-licensing final examinations. The real estate exam comprises 120 questions, with 80 of them covering national real estate material and the remaining 40 assessing your knowledge of state real estate. The minimal passing score for your real estate test, like the pre-licensing examinations, is 70%.
Step #5: Obtain more specifications
There are numerous papers and paperwork that you must send with your application before submitting it. This may assist to speed up the application review process and prevent your application from being returned due to missing documentation. Other elements you'll need before submitting your application are:
- Photograph of the application
- Background check using fingerprints
- Insurance against errors and omissions
Step #6: Finish the licensing application
Candidates in Tennessee may apply for a real estate affiliate broker license online via the Tennessee Department of Commerce and Insurance. Evidence of high school graduation, proof of pre-licensing schooling, an eligibility form, and all of the paperwork stated in the preceding stage are all needed with the application. Some frequent things requested in the document while completing your application include:
- Your whole name
- Federal identity number or Social Security number
- The birthdate
- address at home
- Phone number for contact
- The email address
Step #7: Locate a sponsored broker.
All new real estate agents are overseen by a fully registered and active real estate broker.
It is critical to compare multiple brokers in order to discover the best match. Consider the following while comparing various brokers:
- Local and national renown
- Technology systems employed
- Opportunities for education and training
- Structure of commissions
- Advantages of Employment
- Lead generation and marketing materials are supplied.
- Possibility of expansion
- Additional Tennessee real estate agent certifications
Other certifications to consider are those that will help you increase your earning potential and improve your talents as a real estate agent. Here are several certificates to think about:
Certified Residential Specialist
This certification allows you to demonstrate your experience in marketing residential properties. One way to get this certification is to complete 60 real estate deals in five years while taking 30 hours of further study. If you have fewer than 60 transactions, you may apply if your transaction volume has been $30 million in the last five years.
The second approach requires 16 hours of study, as well as 10 years of licensed real estate agent experience or 150 transactions. If you have less than 150 transactions per year, you may have 40 transactions totaling $1 million in volume. You must complete two hours of continuing education each year to keep this certification.
Classroom courses offered by the Residential Real Estate Council (RRC)
- eLearning programs
- RRC webinars, live or recorded
- Local network or state RRC events
- Annual RRC sell-a-bration
- Luxury Home Marketing Specialist Certification
Earning this certificate may demonstrate to companies and customers that you have expertise with luxury real estate transactions. Complete the luxury home marketing training program to gain this certification. This training may be completed live, via live broadcast, or online. When finished, you may submit your application along with your three qualified properties. It's a good idea to examine your region's luxury threshold to see whether you have any eligible homes.
Property Manager Certification
The Certified Property Manager (CRM) credential may assist you in maximizing your earning potential for a wide range of properties. To get this certification, you need have at least three years of experience as well as eight hours of CRM study. This will assist you in furthering your property management abilities and understanding how to construct a management plan. You may further specialize in residential or commercial properties, which will allow you to generate more money in those real estate markets.
Tennessee real estate agent salary
In Tennessee, the average base compensation for real estate brokers is $85,925 per year. This compensation is subject to change depending on your company, geography, credentials, and experience. For example, agents in Murfreesboro make an average base pay of $96,489 per year, while agents in Clarksville earn an average base salary of $81,430 per year. In addition to monetary remuneration, real estate agents may choose to receive a variety of work perks, including:
- Retirement plan 401(k)
- Medical coverage
- Schedule flexibility
- reimbursement for mileage
- Insurance for life
- Paid vacation
- Paid parental leave
- Profit-sharing scheme
- Tuition assistance
- Work-from-home opportunities