How to Become a Real Estate Agent in Delaware

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 Delaware Real Estate Commission.

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

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 Delaware

1) Real Estate Agent Licensing Requirements

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

  1. Satisfy the minimum requirements requirements to apply for the real estate exam:
  1. Apply to take the State exam
  2. Pass the exam.  You may attempt to take the exam a maximum of three times.
  3. Pay the appropriate fees
  4. Apply for the Real Estate License within twelve months of passing the exam.

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 an employing 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:

 

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 Wilmington, once you have obtained your real estate license, you may pay a fee to join the Wilmington Regional Association of REALTORS®

This also makes you a member of the Delaware 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 Wilmington area was $186,000 for the fourth quarter of 2004.

 

5) Real Estate Schools

Here is a list of some approved real estate schools offering the 99 hr pre-licensing course in the state of Delaware.

Academy of Real Estate  302.478.3800

Delaware School of Real Estate 302.237.8919

Delaware Technical and Community College 302.854.6966

Long & Foster Institute of Real Estate 301.417.7100

Omega Real Estate School 302.235.0400

 

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

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Read about other real estate careers in Delaware:

 

 

 

 

Read some of the best real estate books out there to prepare yourself for your new career: