Two search trends are likely to stick with us as we turn the corner into 2021: the search for homes and the search for jobs. Time to get your real estate license?
Strength Forecast For the Housing Sector
MarketWatch, reports that the housing sector remains strong:
The housing sector is showing strength across the board resulting from a combination of low mortgage rates, rising demand, and shift in consumer preferences as a result of the pandemic.
“If future reports continue in this vein, we may soon be able to conclude that the COVID-related deceleration is far behind us,” said Craig Lazzara, global head of index investment strategy at S&P Dow Jones Indices.
Becoming a Real Estate Agent or Broker
Encouragingly, Investopedia points out:
Getting a real estate license is relatively quick and inexpensive, and you don’t need a college degree.
The steps involved include researching state requirements, taking a pre-licensing course, taking the licensing exam, deciding between broker and agent, and then choosing a brokerage.
There is a difference between becoming a real estate agent and a real estate broker—the latter are members of the National Association of Realtors and adhere to its strict code of ethics.
Based on data from 2019, Investopedia estimates that the median annual pay of a real estate agent is about $50,000. Because of the additional education required to become a broker, that annual salary is estimated at nearly $60,000.
Prerequisite: Get Bonded
In many states, you need to secure a real estate broker bond (or real estate agent bond) before you can obtain your real estate license. This prerequisite bond guarantees you will comply with all applicable government rules and regulations associated with your real estate business.
As a national leader in license and permit bonds, Colonial Surety Company makes obtaining a real estate broker or agent bond easy, affordable and instant—in every state! Colonial Surety Company offers our lowest possible rate, direct to customers.
Let Colonial help with your first step toward your new business: get your real estate agent or broker bond today, right from your desktop, tablet, or mobile device.
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Learn About the Real Estate Field—and Market— In Your State
A good next step is to search out the real estate regulatory office in your state for information on the courses and exams you will need to become licensed as an agent or broker. You can find a directory of regulatory offices at the Association of Real Estate License Law Officials (ARRELLO).
You will also want to check out the trends in the real estate market in your area. Understanding buyer demand will help you carve out a niche for your real estate practice. PricewaterhouseCoopers (PwC) continues to forecast interest in suburbs and cities with growing job markets, noting these top 10 real estate markets for 2021:
1. Raleigh/Durham, N.C.
2. Austin, Texas
3. Nashville, Tenn.
4. Dallas/Fort Worth, Texas
5. Charlotte, N.C.
6. Tampa/St. Petersburg, Fla.
7. Salt Lake City, Utah
8. Washington D.C./North Va.
9. Boston, Mass.
10. Long Island, N.Y.
Licensed and admitted in all U.S. states and territories, Colonial Surety Company proudly offers our lowest rate for real estate agent and broker bonds directly to customers. Incorporated since 1930, Colonial Surety Company is an A (Excellent) rated insurance company by A.M. Best and U.S. Treasury listed.
With Colonial’s unique, direct and digital process, your real estate agent or broker bond is just a few clicks away:
- Get a quote online
- Fill out your information
- Enter your payment method.
- Print or download your bond from your home or office.