Real estate is a bustling business that can be a great path to success for dedicated and hardworking individuals. People will always need homes, so there’s at least some kind of market available no matter what happens. Much like investing in a home, however, the decision to become a real estate agent is an investment that requires precise planning, commitment, and financial responsibility.
To become an agent in Nevada, you’ll have to go through school and earn your license. Practicing real estate is a heavily regulated occupation, so you need to make sure you’re equipped with all of the necessary knowledge and licenses to thrive well within the confines of the law. Learn all about the cost of real estate school, and discover what it takes to start your career as a real estate agent in Nevada.
Finding a School
To determine the expense of real estate school, you need to first determine which school you’re going to attend. There are some schools that feature actual classrooms, while others are home-study or online classes. Occasionally, you’ll find schools that are a mix of two, with the occasional school that offers all three. For most schools, the cost is going to be anywhere from $200 to $600.
There are a few features you should look for in any prospective real estate school to make sure it can offer what you need. First, it needs to offer testing that’s approved by the real estate division of Nevada. After that, however, you need to opt for a school that will stick with you even after you complete your initial course. You’ll have to get additional education every now and then as your career progresses, and a school’s connections can help you find a broker that helps your career and particular niche, if you have one.
Background Check and Fingerprinting
Real estate is a restricted field, so you’ll need to have a clean record if you want to get certified. That means passing a background check and getting fingerprinted. Fortunately, most schools make it easy by having fingerprinting services come directly to the school. A background check, on the other hand, is completely passive apart from the cost. Remember, this verification is only good for about six months, so get it done when you’re nearing the end of your schooling. Total cost for this portion of the process ranges from $60 to $90.
Real Estate Exam
After you’ve achieved your minimum credit hours of schooling in accordance with Nevada regulations, you’re eligible to take the real estate exam. This is the last barrier to obtaining a real estate license. First, you’ll need to register with Pearson Vue to take the exam. They’ve been approved by the Nevada state real estate division to administer the test. The exam itself is $100, and you’ll have to get at least 75 percent of it correct in order to pass.
Remember, the exam fee covers only one attempt. If you fail the exam and have to take it again, you’ll have to pay the fee all over again. Since it’s financially in your best interest to pass the exam the first time, it’s usually beneficial to take a test preparation course. Some schools include that test prep in their general real estate course, and some don’t. Be sure to keep that in mind when comparing tuition costs.
In Nevada, you’ll have to work under an employing broker for several years before the process is complete. Essentially, these brokers are there to take care of your day-to-day business expenses like making copies, having internet in your office, and sometimes insurance for errors and omissions. You’ll have to work with one of these brokers to get your license, as you need their training and supervision — along with their signature on your license application.
While broker services are certainly helpful, they aren’t free. Each month, you’ll have to pay a desk fee to maintain the use of their services. If your state law requires you to work with a broker, you have no choice but to pay the fees in order to do any business at all. The costs of these brokers can vary quite a bit as well. Some can charge high amounts nearing $1,000, but most are anywhere between the $25 to $500 range depending on how sympathetic they are toward a new realtor.
Applying at the Real Estate Division
The last step of the process is actually turning your application in. The cost of a one-year license is $125, so be prepared to pay that upfront. In order to apply, you’ll need to bring all the necessary items, including your school certificate, fingerprinting, background check, and passing results for each test. Once your application has been submitted to the real estate division, there’s nothing left to do but wait. If they’re quick, your broker will get the physical license for you in just two weeks, but sometimes it can take a couple of months to deliver. While you’re waiting, however, your broker can help you get set up to officially practice real estate.
Even after you’ve obtained your license and have gotten set up, you’ll still face ongoing expenses. Obtaining your real estate license is not a one-time instance in regards to cost or learning. You have to work to keep it updated with the latest legal regulations. That means taking post-licensing classes or continuing education classes to learn all the new material.
In addition to education, you’ll also need to join certain professional organizations like the Greater Las Vegas Association of Realtors. Most brokers deal in residential real estate, so you’ll likely have to get an MLS going as well, which the Las Vegas Association of Realtors will have a checklist for. Finally, you’ll need a business license to legally participate in the practice.
Century 21 Americana Real Estate School
If you’re looking for a school that can help you get your real estate license in Las Vegas, Nevada, the Century 21 Americana Real Estate School is your best bet. Our 120 Hour Nevada Pre Licensing Course is priced at just $395 — including all textbooks (Pay only $275 if you register by November 30, 2023! Purchase Valid for 12 Months). Within this course, you’ll get 15 classroom sessions totaling 45 hours of live instruction, along with 45 hours of assisted home study.
Contact us today to start your journey to a prosperous career in real estate.
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