Choosing a real estate school in Indiana, Online vs. Live vs. Virtual: deciding which real estate classes are right for you, getting your real estate license, this is your guide to starting a real estate career in Indiana.
Steps to Become a Real Estate Agent
1. Know Your State’s Requirements
States vary in their requirements for Real Estate Agents. In Indiana, it is straight forward:
18 years of age
High school diploma or Equivalent
Complete a 90-hour State Approved Real Estate Course, including a General Portion along with Indiana Law, with a passing grade of 75%
Pass a State Exam
2. Research and Choose A Real Estate School
Schools offer (or don’t offer) a variety of services and products, and the difference in cost, initially, can be very different. It is important to compare carefully.
When a school has different levels of costs, you are obviously missing some products or services, and which ones vary by school. There are some common items and services that are eliminated in the lower levels. A printed textbook is replaced by an e-book, or sometimes eliminated completely. Some do not have access to an instructor in the lower levels of Online classes. Exam Prep or Practice Tests are often removed. Some shorten the time frame to finish the class. Often, if you find you need them later, they can be purchased, but that will increase the final costs substantially. If any of these items are important to you, you should consider them when comparing schools.
Other schools offer more services and products within their choices. At IBREA, we offer the most comprehensive VIRTUAL and ONLINE Real Estate Licensing Programs available in Indiana. For instance, many schools online classes are hours of PowerPoint slides read to you. IBREA's Online Classes are videotaped classes, so you feel like you are in the live class.
In addition, we include all school tests with no proctor, unlimited access to virtual classes and virtual reviews, 3 different types of practice tests pulling from over 1000 questions, dedicated Math reviews, 365 days to complete the class, and one-on-one tutoring available. And, we have products that are exclusive to IBREA, including Audio Study© and a Proprietary Law Summary©, and so much more. And, there are never any additional costs.
3. Complete the Real Estate Courses
All states require the completion of their State Approved Pre-licensing courses prior to taking the State Exam. It needs to be completed within the school’s timeframe and have a passing grade. In Indiana, the passing grade on the school’s tests is an accumulative 75%, over the three 100 question exams. In other words, you must receive 225 points over the three exams; if one exam is under 75%, you can make it up on the other tests. Don't miss: How Much Do Real Estate Agents Make.
4. Schedule Your State Real Estate Exam
Once you pass your real estate pre-licensing coursework, sign up for your state licensing exam. There will be a fee which can vary by State. In Indiana, it is $53.00 and there are a few locations. Make sure you get information about hours, parking, and any materials you’ll need to bring with you, or not bring with you, on test day.
5. Complete the Exam Requirements
You may need to get fingerprinted and complete a background check before you can take your state real estate exam, and these requirements can change. Before you take your exam, ask the testing center what requirements you’ll need to have on test day.
6. Pass Your State Licensing Exam
Each state has different passing requirements for the licensing exam. You can view this information on your state’s website. In Indiana, there are 80 General Real Estate questions and roughly 12 of those are math. You will have 2 ½ hours for that portion. The second section has 50 questions and covers Indiana Law. You will have 1 ½ hours for that portion. A passing grade of 75% is required, and they are scored separately. The goal is to pass both the first attempt. But, if you pass one section and not the other, you only need to take one again.
7. Choose Your Broker
In Indiana, you will be able to choose your employing broker after your test. Choosing a broker is one of the most important choices in your career, especially as you begin in Real Estate. It can determine how you get paid, what percentage you earn per transaction, and how you work including areas of focus, resources available, and real estate agent training after you become a real estate agent. Check out: How to Choose the Best Brokerage for You
8. Join Professional Real Estate Organizations
Once you have passed the State Exam, and if you are interested in becoming a REALTOR©, you will join the National Association of REALTORS®. This will give you many advantages, including giving you access to the local Multiple Listing Services. In Indianapolis, that is called the Broker’s Listing Cooperative (BLC). Many Brokerages require you to join these organizations. You might enjoy: Ways to Make Money with a Real Estate License without Selling a Home
9. Complete Necessary Real Estate Post-licensing Coursework
Some States require you to complete real estate post-licensing coursework within the first 6–24 months after you obtain your real estate license. In Indiana, you will have a required 30-hour Post Licensing course due within the first 2 years. Although you will have 2 years, you might want to consider completing this quicker rather than later. First, you will have more time to complete the class as you are starting the career. And more importantly, it has valuable information to help you with your career.
10. Start your Real Estate Career
Create a marketing plan and get started! You are now a real estate agent. You might like: How Do I Start a Successful Real Estate Career