A little market research is always good if you want to work as a realtor anywhere in the world. Reports early this year showed that property prices in Missouri increased dramatically. The hike in prices was because of scarcity and higher demand, which is what every seller, including you, a prospective realtor, wants to hear.
As they say, numbers don’t lie. Projections show that home prices will continue increasing. But the good news is that better rates and easing inflation will lead to more people buying or renting houses.
But to get a piece of Missouri’s realty industry pie, you must get your practicing license. Here is where we come in with a comprehensive guide to help you become a licensed realtor in MO.
Step 1: Check the Prerequisites
Don’t be in a hurry to enroll in a real estate course before reviewing the prerequisites set by MREC. Even though the requirements are strict, compliance will ensure that all of the work done before applying for the license doesn’t go to waste.
Number one, you must be a legal U.S. citizen with proper documentation. Applicants must be 18 years or older, with good morals. Prior felonies or convictions on your record can put your dream of working as a realtor into jeopardy.
Education requirements are lax in MO. You don’t need a diploma or GED to enroll in the pre-licensing program, but having a high school diploma or a certificate of a high school equivalency test will boost your chances of getting a job after course completion.
Step 2: Begin the Coursework
Take your time and find the best schools offering real estate courses in MO. Finding a good school can take time. You can choose whether to enroll in an online program or attend physical in-person classes.
Both have their fair share of merits and demerits. The idea of the best school is subjective, but if you prefer studying online, look no further than RealEstateU. Besides the stellar reviews, it also has one of the best study plans at pocket-friendly prices.
The pre-licensing program is 72 hours, split into sections. The first 48 hours cover the salesperson pre-examination course, with the remaining 24 for the real estate practice course. You can do the second portion immediately after finishing the first or after sitting for the state exam.
Step 3: Ace the Test
Don’t worry about the exam fever, it is normal. One way to calm your nerves is to study the course contents before registering for the test. Exam registration and scheduling are done online via the PSI website.
You will have four hours to attempt all 140 multiple-choice questions. The pass mark is 75%, meaning that you must get at least 105 questions correct.
Step 4: Get Your License
At this point, you deserve a pat on the back for completing the course and acing the test. Getting your license is the last hurdle before you can start working as a realtor in MO. Visit the MDPR website and download the license application form.
What is left is filling out the form, paying the application fee, and sending it with other required documents to MREC.
