May 24, 20233 min read

What's required to get a real estate license?

Ever wondered what it takes to become a licensed real estate agent? A lot more than you think.

I began my real estate career in 2018 after completing a self-paced real estate course online over the 2017 winter break. This afforded me the flexibility to complete the course on my terms, at my speed, and around my family life.

I always found real estate fascinating, and felt like I could be an asset to others with my innate ability to investigate properties to no end, and negotiate the best deal. My goal was (and is) to provide superior service and to make my clients feel at ease throughout their buying and/or selling process.

To become a Real Estate Salesperson in the state of Montana, you must meet the following requirements:

Complete a pre-approved licensing course
Find a Real Estate Broker willing to supervise and train you
Schedule your licensing exam with a testing company
Submit an application with personal history questions regarding any criminal record and substance abuse
Pay a $80 licensing fee

Once you're licensed, you have to maintain 12 continuing education credits (equivalent to 12 hours of training) annually as required by the Montana Board of Realty Regulation to stay up to date on ethics, any changing policies/procedures, etc.

You'll also need to pay your yearly renewal fee to the Board, along with maintain the fees associated to belonging to your specific brokerage, MLS dues, commission splits, marketing fees, office supplies, errors and omissions insurance, and more. The list is long, so if you're thinking you'll make a quick mint, you're sorely mistaken.

Real estate isn't for the faint of heart, or for those looking for a "hobby" or part-time work. To make it in this industry, you need to be fully committed for the long haul, as it's quite an investment just in fees alone.

If you want to become a Broker, there's even more involved with respect to fees, liability, and continuing education. The following are the requirements to become a Real Estate Broker in the state of Montana:

You need a total of 30 "points" in the last 36 months to apply for your broker's license. This point system is based off of your transactions, with different values for transactions such as residential, leases, commercial, ranch/farm, and any educational degrees you may have like law, real estate, and business management
You need to complete another pre-licensing course
Schedule your exam with a testing company
Pay a $90 licensing fee

To take this even further, you can also achieve a Supervising Broker Endorsement after becoming a Real Estate Broker. A Supervising Broker Endorsement is required to supervise salespeople in Montana. In order to obtain the Supervising Broker Endorsement, you must be licensed in Montana as a broker and complete an 8-hour Supervising Broker Pre-Endorsement Course. Once the Supervising Broker Endorsement is obtained, the licensee must take one 4-hour approved Supervising Broker course each licensing year to maintain their Supervising Broker Endorsement.

I achieved my Broker's license with Supervising Broker Endorsement after my second year in real estate. It was a true blessing to accomplish that so early on in my real estate career. Following that, I was able to open my own brokerage, Aspen Grove Realty, in the Bitterroot Valley/Ravalli County of Montana.

Establishing a client base is also something that takes dedication as well. I've been fortunate to become 100% referral based in my business. I don't pay for expensive leads or fall pray to unnecessary advertising schemes. The critical part about real estate is finding your niche and providing a service different than other real estate agents in the industry. The National Association of REALTORS®' reported their total membership by April 2023 month end was 1,537,418. How will you differentiate yourself between all these members?

Have questions about how to get and maintain your real estate license? Or perhaps you would like to discuss belonging to Aspen Grove Realty? Reach out, I would love to take you to lunch and chat.