Are you exploring a career where freedom reigns supreme and you can earn a high salary without overworking yourself?
A career in real estate just might be what you need to take your earnings to the next level.
Real estate is a fast moving industry which is brimming with opportunities, especially if you are switching careers or starting from scratch.
If you are a resident of Virginia or planning to migrate there, you’re in for some good news – Virginia’s real estate market is growing steadily and attracting strong interest from homebuyers and investors.
Did you know that you can easily make a six figure average salary of around $110K as a real estate agent in VA?
If that sounds like a professional dream come true, now is the time to get started. If your decision to join real estate is set, then it is important to plan and prepare well.
Getting your real estate license might seem like a daunting challenge, but it is certainly worth trying for a successful career.
For those reading and wondering how to get a Virginia real estate license, we have put together this step-by-step guide for you.
In this guide by RealEstateU, you will learn everything you need to know to become a licensed real estate agent in Virginia.
We will cover topics such as – the basic eligibility requirements, VA educational qualifications, licensing exam, how much time it will take to get a license, how much money you need to spend among other things.
Let’s dive deeper and get started with understanding the basics of real estate licensing first.
What is a VA real estate license
A real estate license is a legal certificate or document that serves as a valid proof of your licensure.
Whether you want to become a real estate agent or a broker, you will need to obtain a real estate license issued by the state.
Most states require you to complete a certain set of requirements and fulfill state-specific criteria to become eligible for a career in real estate.
By getting your Virginia state license, you can legally take part in the sale, purchase and renting of commercial and residential properties.
A license will help you find jobs, work with other real estate professionals, and assist your clients to make decisions.
A Virginia real estate license opens the avenues for working in the industry as a licensed salesperson, agent and broker. You will be legally allowed to represent a seller or a buyer in a real estate transaction.
Plus, with a license you will be able to earn money and commission in exchange for your services.
Steps to get a VA real estate license
Before working in VA’s exciting real estate market, you must obtain your state issued license.
If you are already searching on how to get a Virginia real estate license, let us walk you through the steps next.
Firstly, you need to meet the basic eligibility requirements as established by the Department of Professional and Occupational Regulation (DPOR). These are as follows:
- You must be at least 18 years of age or older
- You must have a high school diploma or equivalent education
- You must be a legal resident of the United States or a lawfully admitted alien
Once through, you must fulfill the educational requirements for obtaining a VA license.
This includes completing the mandatory pre-licensing training of 60 hours of salesperson coursework.
You can complete your education by enrolling in a real estate school or by joining an online real estate course provider.
For those wondering, the pre-licensing coursework is an introduction to the basics of the real estate industry in the state and national domain. You can expect to cover fundamental courses such as:
- Real Estate Laws
- Real Estate Best Practices
- Property Management
- Real Estate Financing
After completing the training, you will be allowed to appear for the Virginia real estate licensing exam.
The exam consists of 120 multiple choice questions in total and you will get a total of 150 minutes to complete the test.
The exam is mandatory for every applicant who wants to obtain a state issued license. To clear the exam, an applicant must meet the minimum passing score of 75^% and above.
Along with the exam, you will also need to fulfill a set of background and identity verification requirements.
To do so, you will be required to submit electronic fingerprints and identity documents to the Department of Professional and Occupational Regulation (DPOR) for a criminal background verification check.
If you clear the VA licensing exam and meet the standards of ethics and safety, then you should receive your real estate license within a few weeks.
As the final step towards working in the Virginia real estate market, you must apply and find a sponsoring broker to work with.
As per the law, a newly licensed agent or salesperson must find a sponsoring broker for learning, support and work experience.
You will require the signature of a sponsoring broker or brokerage firm to activate your real estate license.
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