what does it take to get a real estate license in louisiana
10 Steps to Get Your Louisiana Existent Estate License
Step-By-Step Guide to Go a Licensed Real Estate Agent
Louisiana is rich in human and natural resource like oil, natural gas, commercial fishing, chemicals, agriculture, you lot name it. That's why more and more people are choosing to move to Louisiana. They are relocating to earn money in these growing industries.
Louisiana is also known for it'due south good food, jazz music, and of class the ever famous Mardi Gras festival, which continues to bring newcomers to the country.
Home sales in the Bayou State are upwardly 33.eight% twelvemonth-over-yr, and the median home sale price has increased by vi.4%. Demand has created a hot market place with tough contest; 17.4% of homes sold above listing cost and likely received multiple offers. The median list price in the land is $161,800, which is well below the national average. Those numbers are very promising for real manor professionals in Louisiana, and the market place shows no signs of slowing downwards soon.
Getting a Louisiana real estate license is non hard, but there are requirements that must be met if you're looking to make a career alter. Allow'due south show you lot how to go your hands on a Louisiana land license with these 10 unproblematic steps.
Step 1: Meet The LREC Requirements
The Louisiana Real Estate Commission (LREC), sets certain standards that agents must meet before they are eligible for a existent manor license. LREC determines the rules and policies of the industry, and also issues and oversees licenses.
To qualify for a real estate salesperson'southward license in Louisiana, you need to check off these boxes:
- Be at to the lowest degree xviii years or older
- Must hold a loftier school diploma or equivalent (GED)
- Be lawfully eligible to work in the Usa
- Have a valid social security number
This is the easy part, and you either encounter these requirements or you don't. If you have a prior record, or if your fingerprints take been taken before, first double check that you've paid all of your fines.
Reciprocity
If you're already a licensed real estate agent in another land and yous'd like to expand into Louisiana, the land permits full reciprocity with electric current real estate license holders in:
- Alabama
- Arkansas
- Colorado
- Georgia
- Iowa
- Mississippi
- New Mexico
- Oklahoma
- Pennsylvania
Louisiana uses a license for a license basis to offering reciprocal licenses. This means that Louisiana will only offer you the same type of license that you currently concur in your country.
Step 2: Complete the Pre-Licensing Pedagogy
LREC requires you to complete ninety hours of education earlier you can have the Louisiana Existent Estate License Examination. The form has to be completed by an accredited provider.
You must complete the coursework within 6 months of the start date. The start and end dates volition be indicated on your certificate.
LREC sometimes gives fractional credit for the pre-licensing requirements for courses completed more than than v years prior to the engagement of application. They unremarkably consider the changes in the syllabus betwixt that fourth dimension and how applicable the syllabus is to the present time.
The topics in the course includes:
- Existent estate principles/practices
- Louisiana Existent Manor License Law
- Commission Rules/Regulations
- Law of Bureau
- Civil Police force pertaining to real estate.
The courses are designed to help y'all empathize the nuts and bolts of Louisiana real estate laws, policies, and procedures. Want to learn more? Check out the best real estate schools in Louisiana. These courses can be taken online or in a classroom setting. They can take you from as little as i to three months. Information technology all depends on what stride yous're about comfortable with.
Step 3: Pass The Course Final Test
Once you terminate the coursework, you can keep to take the final course examination. This exam will be through your school provider (it is separate from the licensing exam you lot will also be required to accept). In one case you laissez passer, you get your completion certificate and you can apply for the Salesperson License Application Office A.
Step 4: Fill Out License Application Part A
Yous volition need to apply for the Salesperson License Application Function A with your pre-licensing certificate of completion. Once you've done this and paid the required fee; you will go an authorisation form to accept the land and national exam. The grade will include instructions to schedule your exam date and time.
Pace v: Laissez passer The Louisiana Land Licensing Exam
Information technology's time to unleash your brainpower
Inside 90 days of applying, you tin can take the official licensing exam. The exam is divided into two parts: the national and state portion. There are a total of 135 questions worth 135 full points. The exam is made upwardly of just multiple-choice questions. You will be given 105 minutes to answer 135 questions. This includes 55 questions for the national portion and 75 questions for the country portion. The national department has a passing score of 56 while the State section has a passing score of forty.
You will receive your results immediately after taking the examination. If you fail i part, you tin reschedule to retake just that function. All the same, you take to pass both parts within ane year of finishing your real estate course.
Louisiana has exam centers in Baton Rouge, Lafayette, Lake Charles, Metairie, New Orleans, and Shreveport.
Although the exam isn't that tough, you may all the same demand help studying for information technology. To aid you navigate this process, you can piece of work with a trusted real estate didactics provider who provides practice exams, flashcards, mini quizzes, etc.
Of import: When yous go to take your licensing exam, have at least ii forms of photo ID and bring a not-programmable computer for math related questions.
Step six: Find A Sponsoring Broker
In Louisiana, you must be associated with an active Louisiana real estate brokerage before you can get your license. The brokerage will act as your sponsor and you can leverage their sponsorship to employ for your license.
What is a Brokerage?
A brokerage is a company headed by a broker that employs real estate agents. Real estate brokers will help you on your journey and ensure you lot keep the standards set by the Louisiana Government. The banker will also assistance yous make important connections. They'll introduce you lot to your first clients and teach you the rules of the business. It is also possible to become a broker afterward working as an agent for several years. It's important to find the right banker to work with since this person will serve as your mentor equally you start your new career in existent estate.
Step seven: Complete The Background Cheque
After you have passed your existent estate exam, you have to pass a groundwork check. LREC requires all applicants for a existent estate license to provide a criminal groundwork history as part of the awarding procedure. This background check is offered past Clearbox. Yous have to log in to the Clearbox website and create an online account to order the background cheque. Background checks elapse 120 days later on being issued.
Pace 8: Learn Errors and Omissions Insurance
Accidents are bound to happen in any job. Every bit a realtor, your mistakes are likely to be expensive. Equally a result, yous are required to have an Errors and Omissions insurance policy before you can obtain a license. Y'all can choose the LREC provided grouping policy serviced by RISC or cull an contained plan. The choice is up to you.
Step 9: Complete License Application Office B
Now that you're almost ready, you can fill out the concluding part of the Real Estate License Awarding (Part B). With it, you lot send your proof/payment of your Errors and Omissions Insurance coverage to LREC and proof of broker sponsorship.
After doing this, you tin wait your license to come in the postal service within a few weeks.
Footstep 10: Complete Mail service-license Teaching Hours
After getting your license, there is a 45-hour post-licensing education that yous have to take within the outset 180 days of receiving your license. Yous need to do this to get issued a permanent license.
In that location are other yearly education courses that you'll accept to keep upward with moving forward in order to keep your license valid.
How much does information technology cost to get a Louisiana existent estate license?
Below is a list of costs associated with getting your Louisiana real estate license:
Pre-licensing pedagogy and training costs:
The estimated cost for this is around $200-$400 or more depending on the school or online program you select. This involves finding an accredited and qualified real manor school to clock your hours. As stated earlier, the state of Louisiana requires y'all to finish 90 hours of education.
Real manor licensing and test fees
The total fees are estimated to cost most $304. The breakdown of this cost is as follows: The exam fee is $xc, and the fee for a offset-time license is $165. The background check procedure will price you an additional $49, and you must also accept your E&O insurance policy cost into account.
Existent estate banker fees
These fees are estimated to toll anything from $30 to $450 per month. The real estate broker fees are the fees that yous have to incur when you want to become associated with a recognized and accredited banker. Equally it is your kickoff year, at that place are some things that your sponsor broker volition provide. These things, such equally part supplies, photocopies, internet, and whatsoever other business expenses, are usually associated with the daily operation of your business. It is likewise likely that you volition have to pay a desk fee every month to help reimburse some of these costs.
Real estate membership dues
Membership dues and feels usually cost effectually $200 or more each year. And while they can authorize as a tax break in the land of Louisiana, they are still a significant expense for many Realtors. This fee typically depends on how many associations you want to join. For example, you can go part of your local and state existent manor boards.
Every one of these boards comes with a membership fee that has to be paid monthly or yearly for yous to be able to enjoy the numerous advantages and networking options they offering. The local MLS or Multiple Listing Service will also accept fees associated with them. Depending on where you are in the state, you may have to pay your monthly dues either to your broker or to the association directly.
Continuing Educational activity
Becoming a real estate agent does non mean y'all stop educating yourself once you lot have passed your licensing tests. To stay an active amanuensis, you have to see the CE requirements. Some CE courses are offered for complimentary through local boards of realty. Boosted designations, though optional, may besides come up with fees.
How long does it accept to get a Louisiana real manor license?
Your education timeline is completely dependent on how fast your finish the 90 hour course. If you want to speed upward the process, you lot can find an online form provider to study at your own pace or work in when yous have fourth dimension.
Applying for the exam and taking the exam itself can accept ane-iii weeks, depending on how many candidates accept applied.
The mandatory background check takes upward the well-nigh time, as it takes around 8 to 10 weeks to go checked.
After you employ for your license, it can take anywhere betwixt 1 calendar week to ii months for your application to exist processed. Once LREC has checked and canonical everything, you lot will receive your license.
The full time information technology takes to obtain a Louisiana Real Estate License depends on the person, just in general, tin exist completed in a few months.
How much do real manor agents brand in Louisiana?
The average salary for a real estate agent in Louisiana is around $35,860 per year. That's lower than the national average, but the top agents can earn around $$101,800 per year, while the bottom 20% of agents make effectually $21,400 per yr.
However, you are in control of your salary. You lot tin can make every bit much or as little as you lot desire. But be certain to find a brokerage that has fair committee splits.
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Source: https://www.agentadvice.com/real-estate-license/louisiana/
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