04/18/2022
How much does it cost to be a Realtor? This is going to vary greatly by state but here are some estimates for you based on some great "Googling" :)
Pre-Licensing Course - This is the course you need to become a real estate agent, salesperson or broker. Each state has different titles. And each class will take a different amount of time. The RE course in MA is one weekend long. The RE course in NC takes weeks and is much more involved.
RE License and Exam Fees - Your exam fee is a one time payment but every 1-2 years you have to renew your license and pay your state licensing board. I pay more than $200 a year to renew my licenses in MA, NC and SC.
Realtor and MLS Dues - Realtor dues are about $150 a year and your MLS dues will vary based on your MLS system and if you have Supra boxes, etc.
Start Up Marketing Fees - This is business cards, website set up, headshots, etc. These fees can really add up but if you're on a team, you might not have to pay any of these.
Brokerage Fees - This is a big topic and one that I can get into on another post, but brokerages can have monthly fees, percentage splits, desk fees, transaction fees, etc. Some of these are due even if you aren't closing deals. So make sure to do your research!
Remember that depending on what brokerage you go with and if you're on a team or not, your expenses might be way higher. For example, if you need your own CRM and marketing materials, those expenses are going to add up.
Also keep in mind that there is continuing education for every state. I pay about $40 every two years for CE in Massachusetts but end up pay more than $100 every year for CE in North Carolina.
