If you're thinking of becoming a real estate agent in Tennessee, who can blame you? It's the perfect career for self-motivated individuals who are willing to work hard and have great communication skills.
Another great thing about pursuing a real estate career — it's less expensive than most professional courses of study. The following post explains what you'll need to get your real estate license and how much it costs to meet the requirements.
Qualifications Needed to Become a Tennessee Real Estate Agent
You won't be able to get your Tennessee real estate license unless you meet the following requirements: You are at least 18 years of age. You've been a resident of Tennessee for a minimum of 45 days. (People who hold a valid real estate license from another state are able to get a second license in Tennessee even if they do not reside there.) You have a high school diploma, GED, or equivalent. You are willing to submit your fingerprints for a background check. You complete 90 hours of education, including a 60-hour Real Estate Principles course and a 30-hour New Affiliates course. You pass the national and state portions of the real estate license exam with a score of 75% or better.
In addition, the Tennessee Real Estate Commission (TREC) asks some qualifying questions of prospective agents, including questions about your criminal record. TREC does not allow anyone on parole or probation to schedule a real estate licensing exam. In fact, you must be off probation or parole for two years before you are eligible to take the real estate license exam.
You'll be required to submit a list of documents when you submit your application to become a real estate agent, including proof of high school graduation, proof you've completed the 90 hours of real estate school, and proof of errors and omissions insurance.
Costs Related to Becoming a Real Estate Agent
There are a fair amount of costs you need to consider before you can become a real estate agent. 1. Application Fees. An initial license application is $90, plus an additional $1 that goes to the real estate education and recovery fund. After you have your license, you'll pay $75 every other year to get your license renewed. There is no charge for copies of the license. 2. Fingerprinting. In most parts of Tennessee, the fee is $35. You pay this fee directly to IdentoGo, the company that provides the service. 3. The Licensing Exam. It currently costs $43 to take the affiliate broker's licensing exam. 4. Upgrading to a Broker's License. In Tennessee, real estate agents are called "affiliate brokers." Once you have been a licensed agent for two years, you can take additional coursework to become a broker. The fee for this license is $91. 5. Real Estate Courses. In addition to fees required by the state of Tennessee, you'll need to pay for the 90 hours of required real estate courses. With Aceable Agent, classes start at $429.
In all, expect to pay just under $700 to get your initial Tennessee real estate license, with additional renewal costs every two years.
Ready to Take the Next Step?
Aceable Real Estate School offers 100% TREC-approved online real estate courses. Choose either the 60-hour Real Estate Principles course or the full 90-hour Affiliate Broker's Licensing course. The courses are available with master exam prep.
Published on September 24, 2020