Starting a business can be an expensive venture. Understanding your startup cost and monthly expenses can help with mapping out costs of operation. Once you know the anticipated expenses you can set financial goals to recoup startup cost and begin to make a monthly profit to cover expenses.
Become a REALTOR is starting your own business. You will be considered a sole proprietor. In this video I share anticipated expenses real estate agents can expect to pay when obtaining their real estate license. The fees will be described for agents getting licensed in the Greater Houston Texas area. Before agents select a broker, there are fee they will need to pay.
The fees begin with the Texas Real Estate Commission and education fees. Depending on the school you select you can expect to pay $500-1000 dollars for the real estate classes, $205 for licensing fees, and $20.60 for sponsorship fees.
There are also fees for joining the Houston Association of REALTORS (HAR). The application fee is $100, and the yearly dues are $439. There is also a HAR orientation deposit of $45 that will be refunded once you attend the orientation.
The Multiple Listing Service has an application fee and quarterly dues, which are $25 and $63.96 respectively. Additionally, you will need to have a SUPRA Access Key to give you access to the electronic key boxes used to securely all licensed professionals access to homes. The fees for the access key are $50 for application and monthly fee of $13.50.
It is important to make sure you budget these expenses when getting your real estate career started. If you have questions about how to have a successful career in real estate please check out my website at www.mattreyesrealtor.com, give me a call at 832-827-3545, or email me at email@example.com.