How to Become a Real Estate Agent in Kansas
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 Kansas Real Estate Commission.
Here's what you need to know to become a real estate agent in Kansas:
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 Kansas
1) Real Estate Agent Licensing Requirements
In Kansas, real estate agents MUST be licensed by the Kansas 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 have a good reputation for honesty, trustworthiness, integrity and competence.
- Residence: U.S. Citizen or work-authorized alien.
- Experience: High School Diploma.
- Education: 30-hour Principles of Real Estate course approved by the Real Estate Commission.
- Apply to take the State exam.
- Pass the exam. Within 12 months of completing the education requirement.
- Pay the appropriate fees.
- Apply for the Real Estate License. Within 4 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 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 Kansas City, once you have obtained your real estate license, you may pay a fee to join the Kansas City Regional Association Of REALTORS® Inc. This also makes you a member of the Kansas 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 Kansas City area was $150,000 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 Kansas:
Coffeyville Community College
Technical Division
600 Roosevelt
Coffeyville KS 67337
Belinda Robison 620-251-3910
Johnson Co Community College
12345 College Blvd
Overland Park Ks 66210-1299
Cathie Peterson 913-469-4420
Kansas Association of
Realtors
3644 SW Burlingame Rd
Topeka, Ks 66611-9990
Rod McIntyre 800-366-0069
Lowry School Of Real Estate
P O Box 129
Sycamore, Ks 67363
Nancy Lowry 620-331-5596
or Toll-Free 1-877-363-5596
Midwestern R.E. Institute
512 Pleasant Ave
Leavenworth, Ks 66048
Anita Burleson 800-229-9830
or 913-772-6604
Neosho Co Community College
Marketing & Management Dept
800 W 14th St
Chanute, Ks 66720
David W Fewins
620-431-2820 Ext. 228
Real Estate Prep School
107 NE 72nd St
Kansas City MO 64118
Randall Bateman
(816) 436-3414
Realty School of Kansas
3241 E Douglas
Wichita, Ks 67218
Larry Rickard 316-685-3652
Weigand School of Real Estate
8414 W 13th, Ste 100
Wichita, Ks 67212
Kay Morgan
316-773-1117