How to Become a Real Estate Agent in Arizona

Planning to start a career as a real estate agent? To get your real estate license, you will need to take classes at a real estate school, and satisfy all the requirements set forth by the Arizona Real Estate Commission.

There has been tremendous growth in real estate in the last few years in much of the U.S. Because of this, the number of real estate agents has also increased. There are now about 2.5 million agents nationwide.

It might be relatively easy to earn a real estate license. However, to successfully practice as a real estate agent might be more challenging. This is a very competitive business so to be truly successful, you'll have to work hard at it - stay on top of legal changes, understand the real estate contracts, be technologically aware, etc. The financial rewards for those who stick with it are huge.

Here's what you need to know to become a real estate agent in Arizona:

1) Licensing Requirements

2) Duties of a Real Estate Agent

3) What is a REALTOR®?

4) Income Potential

5) Real Estate Schools

How to Become a Real Estate Agent in Arizona

1) Real Estate Agent Licensing Requirements

In Arizona, real estate agents MUST be licensed by the Arizona Real Estate Commission. To obtain your real estate license, you must:

Satisfy the minimum requirements to apply for the real estate exam:

Age: You must be 18 years of age or older to be licensed.
Character: Must show honesty, truthfulness, character and competency. No real estate license denial within one year, or revocation within two years immediately preceding the application.
Experience: None.
Education: 90 hr pre-license course. Must be classroom, not correspondence.

Apply to take the State exam.
Pass the exam.
Pay the appropriate fees.
Apply for Real Estate License. Within 12 months of passing the exam.
Complete 6 hr continuing education course in Contract Law and Contract Writing. Before license is activated.

Newly licensed agents must work under the supervision of an employing real estate broker. Most new agents start out by working for one of the large brokerages like Coldwell-Banker, Century-21, Remax, etc. If you would like to have your own business and work for yourself, you must upgrade to a broker's license.

2) Duties of Real Estate Agents

A real estate agent's main job is to assist their clients in the process of buying and selling real estate.

Their list of duties include:

Submit buyers' offer to purchase to seller for consideration
Work with escrow officers, lenders, home inspectors, and pest control operators to ensure that terms and conditions of purchase agreements are met before closing dates.
Interview potential buyers to determine what kinds of properties they are seeking.
Prepare documents such as listing agreements, purchase agreements, etc.
Coordinate property closings, overseeing signing of documents and disbursement of funds.
Act as an intermediary in negotiations between buyers and sellers, generally representing one or the other.
Determine a property's competitive market price by comparing the property with similar properties that have recently sold.
Schedule appointments to show homes to potential buyers.
Generate lists of properties that are compatible with buyers' needs and financial resources.

3) What is a REALTOR®?

A real estate agent becomes a REALTOR® when he or she pays an annual fee to be a member of the National Association of REALTORS® and subscribes to its Code of Ethics.

The agent generally joins through the local board or association.

For example, in Phoenix, once you have obtained your real estate license, you may pay a fee to join the Phoenix Association Of REALTORS®. This also makes you a member of the Arizona Association of REALTORS® and the National Association of REALTORS®.

All REALTORS® are real estate agents but not all real estate agents are REALTORS®.

4) Income Potential

Real estate agents are generally paid based on a percentage of the sales price. The seller will generally pay 4-6% of the sales price as the fee and that will be split 50/50 between the seller and buyer's broker.

For example, if the fee for a $100,000 house is 6%, the buyer's broker will be paid 3% or $3000 and the seller's broker will be paid 3% or $3000 as well. The agent is paid by his or her broker, according to their previously agreed-upon commission split. This is often 50/50 for beginning agents, so in that case the agent in our example would receive $1500.

According to the National Association of REALTORS®, the Median Sales price for an existing single-family home in the Phoenix area was $169,400 for the fourth quarter of 2004.

5) Real Estate Schools

Here are some approved real estate schools offering the pre-licensing courses for the state of Arizona:

Bud Crawley Real Estate School
5251 N. 16th St., Suite 250
Phoenix AZ 85016
(602) 263-0090

Paradise Valley Community College
18401 N. 32nd St.
Phoenix AZ 85032
(602) 787-6726

Brodsky School of Real Estate
720 S. Craycroft Rd.
Tucson AZ 85711
(520) 747-1485

Central Arizona Realty Educators (C.A.R.E.)
5151 N. Oracle Rd., Suite 117A
Tucson AZ 85704
(520) 297-2272

Arizona Institute of Real Estate
2627 E. 7th Ave.
Flagstaff AZ 86004
(866) 851-2378

Best School of Real Estate
Call Sedona office for Flagstaff schedules
(888) 284-2234

Also check out information on how to become a real estate appraiser in Arizona