Cost To Become A Real Estate Agent In Tennessee
Real estate is a lucrative profession that attracts many people. However, before you can become a licensed real estate agent in Tennessee, you need to fulfill certain requirements. In this article, we will discuss the cost of becoming a real estate agent in Tennessee.
Pre-licensing education
The first step towards becoming a real estate agent in Tennessee is to complete pre-licensing education. You need to complete a 60-hour course that covers various topics related to real estate, including contracts, property ownership, and financing. The cost of this course varies depending on the provider, but you can expect to pay around $300 to $500.
Exam fees
Once you have completed the pre-licensing education, you need to pass the real estate exam. The exam fee is $39, and you can take the exam as many times as you want within a year of completing the pre-licensing education.
Licensing fees
After passing the exam, you need to apply for a real estate license. The licensing fee is $120, and it is valid for two years. You need to renew your license every two years by paying a renewal fee of $60.
MLS fees
As a real estate agent, you need access to the Multiple Listing Service (MLS), which is a database that contains information about properties for sale. The cost of joining an MLS varies depending on the provider, but you can expect to pay around $50 to $100 per month.
Association fees
Most real estate agents in Tennessee join a professional association, such as the National Association of Realtors (NAR). The cost of joining an association varies depending on the provider, but you can expect to pay around $100 to $500 per year.
Continuing education
To renew your real estate license in Tennessee, you need to complete 16 hours of continuing education every two years. The cost of continuing education varies depending on the provider, but you can expect to pay around $100 to $300 every two years.
Marketing expenses
As a real estate agent, you need to market yourself to attract clients. Marketing expenses can include business cards, flyers, signs, and website development. The cost of marketing varies depending on the provider, but you can expect to pay around $500 to $1,000 per year.
Conclusion
In summary, the cost of becoming a real estate agent in Tennessee can vary depending on various factors. However, you can expect to pay around $1,000 to $2,000 to fulfill the pre-licensing education, exam, licensing, MLS, association, and continuing education requirements. In addition, you need to factor in marketing expenses to attract clients. Becoming a real estate agent in Tennessee requires an investment of time and money, but it can be a rewarding and lucrative profession.