Becoming a real estate agent has a lot of up front costs to expect, so make sure to set aside enough funds to get started in your new career.
We'll lay out the costs involved in each step of the process in the infographic below! For more details, read on further.
Step 1. Make sure you’re qualified.
- Fitness Determination (optional) - $50
- This is optional and only applies if you are unsure if you meet TREC's qualifications for honesty, integrity, and trustworthiness.
Step 2. Complete AceableAgent.
- Click here to see all offers and pricing!
Step 3. File your application, fee, and course completion proof with TREC.
These fees include the following:
- TREC Application Fee - $150
- Texas Online Fee - $5
- Real Estate Center at Texas A&M Fee - $20
- Real Estate Recovery Fund Fee - $10
Step 4. Receive your eligibility letter from TREC.
No fees here!
Step 5. Get your fingerprints and background check done.
- Fingerprinting + background check - $38.25
Step 6. Schedule, take, and pass your licensing exam with Pearson Vue.
- Pearson VUE licensing exam - $54
- Pearson VUE practice exams (optional) - $19.95
- Additional materials (i.e. calculator) and travel for exam - will vary
Step 7. Receive your inactive license from TREC.
No fees here!
Step 8. Find a sponsoring broker.
The broker sponsorship request form fee may be covered by your brokerage on a case-by-case basis. Ask your brokerage if they will cover this fee for you!
- TREC Broker Sponsorship Request Form (online) - $20.60
- TREC Broker Sponsorship Request Form (paper) - $40.00
Step 9. Receive your active license from TREC.
Now that you can start practicing real estate, here are starting fees to expect:
- Broker fees: $25 to $500+ per month
- Brokers usually take care of these day-to-day office and insurance expenses but you'll likely pay them back for these things with a percentage of your commission. Some brokers charge a desk fee as well.
- Real estate membership dues:
- National Association of Realtors: $150/year
- Texas Association of Realtors: $127/year
- Your local association/board of realtors: $100+/year
- Some local associations have a package for new members that covers local, state, and national association membership fees.
- Why join a real estate association? It grants you access to the Multiple Listing System (MLS) and you can call yourself a REALTOR®. Not all brokerages subscribe to the MLS, so to lower your startup costs, find a brokerage that does! Having access to the MLS provides you with a wealth of information about each listing as well as provides advanced search features and makes putting together composites easy and quick. Turning around a composite of all properties that meet a buyer's checklist will add to the buyer's experience with you.
- Business expenses: will vary
- This can be anything from internet expenses, cell phone bills, client meetings, coffee or lunches with clients, closing day gifts for clients. This might be covered by your broker, but be prepared for any additional costs this may incur.
- Marketing expenses: $1000+/year
- Since you are starting out as a new agent, you've got to put your face on the map! You'll need to have your own website, business cards, flyers, signage, etc. Your brokerage may cover some of this, but be prepared to pay this out-of-pocket.
- Continuing education courses: $300+ in the first 2 years, then $50+ every 2 years after
- In your first two years, you'll need to complete your 98-hour Sales Apprenticeship Education. We at AceableAgent hope to offer this someday, but you can fulfill your 8-hour Legal Update I and II with us for a super affordable price while completing the rest of your 90 hours elsewhere.
- After your first two years, you'll need to complete 18 hours of continuing education every two years. At AceableAgent, we offer an ultra-affordable package.
