If you hold a bachelor degree with a major in real estate, then the required work experience is 24 months.If you have been an affiliate broker after May 12, 1988, then the required work experience is 36 months.If you have been an affiliate broker before May 12, 1988, then the required work experience is 24 months.The amount of affiliate broke work experience required would depend on which of the following situations you are in. Step 2: Fulfill the Work Experience Requirement You’ll need to be at least 18 years old, completed high school education, have a valid Social Security Number, Citizen of the United States or lawfully admitted alien. In return, you would get a share of the commission from the transactions that your real estate sales associates handle. This allows you to build a team of real estate agents, where your brokerage could be providing training, marketing, administrative support, office space, and a subscription to industry software.
So what type of real estate broker license should you obtain? It really depends on what type of business structure you want to set up your business – for example, do you want the business to operate in your personal name or the brand of a company? Will this be a sole proprietorship or limited corporation? You should discuss with your accountant before applying. They are the Individual Broker, Associate Broker, Real Estate Broker Company or Branch Office. There are different types of broker license you could apply for. Once you have established a solid client base and develop the necessary skills, then you could consider expanding your business to become a real estate broker. Step 5: Find a Sponsoring Real Estate Broker Keep in mind, once you pass the exam, you must apply for the license within six months.įurthermore, you need to submit fingerprints in fulfilling the background check requirement.
Here’s a short video on how to create an online account. You will do so through the TN Department website. Once you pass the exam, you may submit your application in registering for the real estate affiliate broker license. (Here’s a Real Estate Study Hacks in helping you to pass the exam on the first try.) Step 4: Register with the TN Real Estate Commission It is only valid for 6 months.Īlso, since the exam is a computerized test, your result will appear immediately on the screen. There is a $55 examination fee which could be paid by credit card. To register, you need to complete their online exam registration and provide them with the required documents. (I’ll also include more details on what will be covered later in this guide.) There are 120 items and you’ll be given 240 minutes in writing it. The examination consists of two portions, the National portion and State portion. The exam is to test your knowledge on the real estate topics that are covered in the pre-licensing education. Not only you’ll learn about the step-by-step process to become a real estate broker, but you will also find helpful information such as the salary, career outlook and a list of top real estate firms in Tennessee. If you are interested in knowing about a real estate career in Tennessee, then this is the guide for you.