How to Become a Real Estate Agent in Vermont

Tired of education requirements? Well, there are none to become a real estate agent in Vermont! You do have to meet the other requirements including passing a salesperson exam.

Here's what you need to know :
1) Licensing Requirements
2) License Renewal and Continuing Education Requirements
3) What is a REALTOR®?
4) Income Potential
5) Real Estate Schools


How to Become a Real Estate Agent in Vermont

1) Real Estate Agent Licensing Requirements in Vermont
You MUST be licensed by the Vermont Real Estate Commission in order to be a real estate agent in Vermont.

To obtain your Vermont real estate license so that you can practice as a real estate agent in Vermont, you must:

i) Satisfy the minimum requirements requirements:

ii) Register, Take and pass the Vermont salesperson exam. The exam is 4 hours long, with 80 questions on the uniform portion and 30 questions on the state portion. There is a $55 exam fee. To pass, you'll need to answer at least 70% correctly for the uniform portion and 75% correctly for the state.

iii) Complete and submit application for real estate license to the Virginia Real Estate Board along with:

 

2) License Renewal and Continuing Education Requirements

To renew your Vermont real estate license, you must complete 8 hours of continuing education, including 4 hours in a mandatory Fair Housing and Taxation course, at an approved real estate school within the first 2 years of licensure. There is a renewal fee of $175.

 

3) What is a REALTOR®?

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

The agent generally join through the local board or association. There are over 20  local boards or associations in Virginia.

For example, if you're located in Middlebury or New Haven, VT once you have obtain your real estate license, you may pay a fee to join the Addison County Board of REALTORS®.

Joining the local board makes you a member of the Vermont 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 may pay 4 to 7% of the sales price as the fee and that will usually be split 50/50 between the seller and buyer's broker.

In Vermont, the 2004 median home price is approximately $165,000. Assume that the fee is 6%, the buyer's and seller's broker is each paid 3% or $4950.

This fee is then split further between the broker and agent. Generally, for starting agents, the split is 50/50. So in this case, the agent will end up receiving $2475 for the transaction.

There is no limit as to how much an agent can make in a year - the sky's the limit.

Based on Vermont's median home price and the above example, a real estate agent in Vermont can make about $24,750/year by selling 10 houses a year. By selling 1 house per week, the real estate agent in Vermont will have an annual salary of $128,700!


5) Real Estate Schools

There is no educational requirement to become a real estate agent in Vermont. All you have to do is to take and pass the exam.

There are however schools that offer classes to help you prepare for the exam.

Below are some real estate schools in Vermont that offer pre-licensing courses:

Real Estate Schools in Vermont:

Quality Workshops
389 Plank Road
Vergennes, VT 05491
(802)877-2465

Vermont Association of Realtors Inc
Bristol-Butler Building
148 State Street
Montpelier, VT 05602
(802)229-0513

Around Vermont
723 Summit Road
Mount Holly, VT 05758
(802)259-2039

VT/NH Real Estate Educators
PO Box 85
Fairlee, VT 05045
802-333-3683