Updated: Jul 14, 2021
Starting a real estate career is very rewarding but don't forget you're starting a business which means you should do research and develop a business plan in order to be successful. One of the most important question, many staring this journey overlook is the cost to getting started.
Here is a list of start up costs to consider. Although, the fees are not due at the same time, but you should prepare to successful transition into your new business career.
Education- $800 to $1200
Commission Application fee- $25 - $100
Background Check - $50 - $100
Exam fee- $55 - $75
License fee- $50
Firm fee- this fee varies depending on the firm ($50 and up)
Joining MLS - Application fee $250 plus quarterly charge ( Avg. $165/qt)
MLS key fee ( Avg. $30/qt) and lockbox ($200 each)
Joining Realtor Association - Application fee is $250 plus prorated yearly fee ( Avg. $525/ yr)
Once you become licensed and begin you new career, you will incur other cost such as advertisement, computer, laptop, phone, printing, signage, etc. The good news is many firms assist in offsetting some of these expenditure for their associated licensees. You should inquiry whether the firms you're interviewing to join do so.