The real estate profession has expanded and offers one of the widest career selections in the business world today. Helping people buy and sell homes, office buildings, industrial property and corporation farmland, property management, land development, mortgage banking, urban planning, real estate counseling, appraisal and research are all aspects of a career in real estate.
- Advantages of a Career in Real Estate
- Education for a Career in Real Estate
- Getting Started in Real Estate
- I am a Licensed Real Estate Salesperson. Now What?
- I am a Licensed Real Estate Salesperson. Am I a REALTOR®?
- Benefits of Being a REALTOR®
- Become a REALTOR®
Advantages of a Career in Real Estate
A career in real estate provides flexibility and freedom to set your own pace. Income directly reflects your efforts, with no limits on what astute, hard-working men and women can earn. Successful people in real estate are goal-oriented, persevering, self-motivated, ambitious and people-oriented. The rewards of a real estate career are a potential for high earnings, status in the community, autonomy, time freedom, helping people, the intellectual challenge and the satisfaction from those accomplishments.
Working in real estate allows for independence and choices of environment in which to work, such as affiliation with a large or small firm as a listed salesperson. With more experience and upon passing of an additional exam, becoming a real estate broker is the next step. Brokers can own their own businesses and employ other salespeople.
Education for a Career in Real Estate
Colleges and universities now offer a variety of real estate and related courses. At many of these colleges, students can specialize in a program that leads to a bachelor’s degree in real estate. Some universities offer graduate level courses. Contact your local public library for university and real estate college course information and directories.
Getting Started in Real Estate
Entry into the real estate field depends on education, training and interests. Most people begin as sales trainees in a brokerage firm. Other possibilities include office assistant, listing or rental agent, assistant in a department of a large real estate organization, or in the mortgage division of a bank or savings and loan.
To become a sales trainee or salesperson in Indiana, you must be 18 years of age and first complete a 54-hour pre-licensing course* approved by the state. Click here for a list of approved pre-licensing course providers.
* If you are seeking a waiver of the requirement of having completed the required 54-hour salesperson pre-licensing course, from an approved provider, due to completion of at least 8 semester credit hours in real estate related coursework at an accredited college or university, you must complete an application and submit it along with an official academic transcript.
Within a year of the date on your certificate of course completion, you must take and pass a state examination. You can register for the examination on-line at the website of the state's exam provider. You will need to take your pre-licensing course certificate with you to the exam.
Within a year from the date you pass the exam, you must apply for licensure as a real estate salesperson. If you have yet to find a broker to work for, your license will be issued if submitted wthin one year after passing the examination and held by the state until you find a broker.
I am a licensed real estate salesperson. Now what?
You must be a salesperson with an active license for one year before becoming a broker. You may take the broker pre-licensing course before then, but you may not receive your license. For more information, contact the Indiana Real Estate Commission (IREC) at (317) 234-3009. IREC can also answer your continuing education questions.
I am a licensed real estate salesperson. Am I a REALTOR®?
No. The term REALTOR® is a registered collective membership mark that identifies a real estate professional who is a member of the National Association of REALTORS® and subscribes to its strict Code of Ethics. The Code establishes time-honored and baseline principles that come from the collective experiences of REALTORS® since the Code of Ethics was first established in 1913. Those principles can be loosely defined as:
- Loyalty to clients;
- Fiduciary (legal) duty to clients;
- Cooperation with competitors; and
- Truthfulness in statements and advertising; and non-interference in
exclusive relationships that other REALTORS® have with their clients.
Benefits of Becoming a REALTOR®
The National Association of REALTORS® (NAR) has experienced phenomenal growth in the past few years to reach a new milestone: over one million members from almost 60 countries involved in every aspect of the real estate industry from residential brokers to property managers. NAR's strength is your advantage; there has never been a better time to enjoy all that NAR offers to enhance your success as a REALTOR®.
The information below highlights some of the many benefits membership provides :
Representation: Making sure that your voice is heard is one of the primary advantages of being a member. From lobbying to grassroots advocacy, the power of being part of over one million members works for you on Capitol Hill every day. Learn more about NAR's Government Affairs activities and RPAC, the largest and most influential Political Action Committee, by clicking here.
REALTOR Benefits® Program: The REALTOR Benefits® Program savings can save you thousands of dollars each year depending on the frequency and quantity of partner offerings you take advantage of. Visit the REALTOR.org Store and stay up-to-date with over 100 NAR publications and products. Learn about the latest issues, policies and market trends, or discover how you can minimize legal liability.
Education: Both NAR and its affiliated Institutes, Societies, and Councils offer professional designation programs acknowledging experience and expertise in various real estate sectors. REALTOR® University Online provides over 300 hours of real estate classes including NAR’s Designation Courses. e-PRO® is an online certification course that will enhance your skills and abilities to help you succeed in this demanding high tech marketplace.
Annual Meetings: Held in November of each year, the REALTORS® Conference & Expo features information sessions on industry trends and practical business topics as well as hands-on training. Held every May, the REALTORS® Midyear Legislative Meetings & Trade Expo is your chance to make your voice heard in the association and on Capitol Hill. Click here to view NAR's future meetings schedule.
Consumer Awareness: Now in its second decade, our ongoing Public Awareness Campaign has resulted in significant increase in consumer perception of the value of REALTORS® bring to the home buying process, which increases your value in the marketplace. Of course, members enjoy the full benefit of this effort only when they identify themselves as REALTORS®. Leverage the power of our national advertising by putting our logo on your business card and wearing your REALTOR® pin.
Information and Technology: Secure more listings and sell more homes with REALTOR.com®, the world's largest database of homes for sale. The Center for REALTOR® Technology serves REALTORS® as an industry advocate, an implementation consultant and a technology information resource. Access the world’s largest real estate library, locate hard-to-find real estate books and tapes, request customized research and order publications. Still need more information? NAR's dedicated Information Central specialists are on hand to handle your questions by toll-free phone, 1-800-874-6500, or e-mail, InfoCentral@realtors.org.
Become a REALTOR®
Join your local REALTOR® Board or Association. Membership in a local Board/Association automatically extends your membership to the respective state Association of REALTORS® and the National Association of REALTORS®. Click here for a list of local Boards/Associations in Indiana.