Working as a real estate broker in Washington can be a lucrative career. Before you can start selling real estate you’ve got to invest a little upfront yourself. A license costs $146.25 for brokers and $210 for managing brokers.
But the license fee is just one expense that has to be paid. Here’s a quick rundown of what it costs to get a Washington real estate license.
Real Estate Courses: $300+
Unless you already have a current real estate license in another state, you’ll have to take 90 hours of approved real estate education. There are two courses that have to be taken: Real Estate Fundamentals (60 hours) and Real Estate Practices (30 hours).
The cost is going to depend on which provider you choose. You can take the courses at Bellevue Community College, North Seattle Community College, Green River College or the University of Washington. Of course, college courses can get pricey.
You can also take online courses at approved proprietary schools, which is generally cheaper. Online courses will typically cost $300 and up.
Background Check: $34.75
The Washington Department of Licensing requires that all applicants answer criminal history questions and go through a background check before getting a license. The department has to make sure applicants don’t have certain convictions or charges. The cost of the combined national and state background check is $34.75.
Fingerprinting is also part of the background check for brokers and managing brokers. It’s a separate fee of $8.05 that must be paid online when you schedule the appointment on IdentoGO.com.
Broker Exam Fee: $138.25
When you schedule the broker exam with PSI Services you have to pay the test fee upfront. The payment should be made out to PSI and is payable by cashier’s check, money order or personal check. If you schedule the test online at goAMP.com you can pay by credit card.
If you don’t pass the exam on your first attempt it will cost you extra. Retaking the exam will cost another $138.25.
License Application Fee: $146.25-$210.00
After passing the exam you can finally apply for a license. When you apply online you can pay the license fee with a credit card or debit card (Visa, MasterCard, American Express or Discover are accepted). Applying through snail mail? The fee can be paid by cashier’s check, money order or personal check.
Marketing Materials: $?
Now that you’ve got a Washington broker license it’s time to use it. Marketing materials are another related cost that comes shortly after you get your license. How much you spend on marketing materials depends on a number of factors. You may get free marketing through your managing broker and social media. Or you can spend thousands on flyers, billboards, business cards, and online ads.
It’s a good idea to create a marketing plan early on and starting budgeting for marketing materials before you become an active broker.
All said and done you’ll spend around $627.30 to get a Washington broker license. Not too bad for a career that has an average income of nearly $60,000 a year.