Real estate agents in Missouri, like in any other state, are licensed professionals who assist buyers and sellers in real estate transactions.
Here is some information about real estate agents in Missouri:
- Licensing: In order to become a real estate agent in Missouri, individuals must be at least 18 years old, have a high school diploma or equivalent, complete 72 hours of pre-license education, pass the state licensing exam, and undergo a background check.
- Types of Agents: There are two main types of real estate agents in Missouri: sales agents and brokers. Sales agents work under the supervision of a broker and can assist clients in buying and selling properties. Brokers, on the other hand, have more experience and education and can operate their own real estate brokerage.
- Duties: Real estate agents assist clients in various aspects of real estate transactions. They help sellers determine the value of their properties, market them effectively, negotiate offers, and manage the closing process. For buyers, agents help with property searches, provide information about neighborhoods and market conditions, negotiate purchase prices, and guide them through the closing process.
- Code of Ethics: Real estate agents in Missouri are bound by a code of ethics that requires honesty, integrity, and professionalism in their dealings with clients and other real estate professionals. This code includes duties to safeguard client funds, maintain confidentiality, and provide accurate information.
- Continuing Education: To maintain their licenses, real estate agents in Missouri must regularly complete continuing education courses. This ensures they stay updated on changes in real estate law, market trends, and best practices in the industry.
- Association Memberships: Many real estate agents in Missouri are members of professional organizations like the National Association of Realtors (NAR) and the Missouri Association of Realtors (MAR). These associations provide additional resources, training, and networking opportunities for agents.
- Specializations: Some real estate agents in Missouri choose to specialize in specific types of properties or niche markets. For example, agents may focus on residential properties, commercial properties, rural properties, or investment properties. Specialization allows agents to develop expertise in their chosen area and better serve their clients.
It's important to note that the exact details and regulations may vary, so it's best to check with the Missouri Real Estate Commission for the most up-to-date information on becoming or working with a real estate agent in Missouri.
Steps to become a real estate agent in Missouri
To become a real estate agent in Missouri, you need to follow these steps:
- Meet the basic requirements: You must be at least 18 years old, have a high school diploma or equivalent, and be a U.S. citizen or legal alien.
- Complete pre-license education: You need to complete 72 hours of pre-license education from an approved real estate school. This education includes courses on real estate principles, practices, contracts, and legal aspects.
- Pass the real estate exam: After completing the pre-license education, you must pass the Missouri real estate examination. The exam consists of both national and state-specific questions and covers topics like property ownership and land use, contract law, financing, and real estate calculations. You need to score at least 70% to pass.
- Find a sponsoring broker: As a newly licensed agent, you are required to work under a sponsoring broker. Research different brokerages to find one that aligns with your goals and values. Consider factors like commission splits, training opportunities, and reputation.
- Complete post-license education: Within six months of obtaining your real estate license, you need to complete 24 hours of post-license education. This education focuses on practical aspects of being a real estate agent, such as agency relationships, marketing, and risk management.
- Activate your license: Once you have completed the required education, you can activate your real estate license with the Missouri Real Estate Commission. You will need to pay an activation fee and provide proof of completion of pre-license and post-license education.
- Join a local association and MLS: Consider joining a local real estate association, such as the Missouri Association of Realtors or a local Board of Realtors. This will give you access to additional resources, networking opportunities, and the Multiple Listing Service (MLS) for property listings.
- Develop your business: As a new real estate agent, focus on building your business. Create a marketing plan, establish an online presence, and network with other professionals in the industry. Consider seeking mentors or joining a team to gain experience and guidance.
Remember to periodically renew your real estate license, which requires continuing education courses. Keep up with industry trends and best practices to stay relevant and successful in your career as a real estate agent in Missouri.
Best Real Estate License Books in Missouri May 2024
How much does a realtor make in Missouri?
The average salary for a realtor in Missouri can vary depending on various factors such as experience, location, and the number of properties sold. According to data from the Bureau of Labor Statistics, the mean annual wage for real estate sales agents in Missouri is around $55,000. However, it is important to note that individual earnings can vary significantly above or below this average. Additionally, realtors often earn commissions on top of their base salary, which can be a percentage of the property sale price.
