Real estate agents in MO make up to $70,000 annually. The Missouri Real Estate Commission (MREC) requires students in the state to meet certain requirements to receive their salespersons and broker licenses. Although real estate is a lucrative business in Missouri, getting your license requires an upfront investment. It takes an average of about five to six months to obtain a realtor license in MO, but the duration may vary depending on whether you take your classes offline or online. The cost of earning your MO real estate license may also depend on the institution you attend, as different schools offer a variety of course packages. That said, you can expect to spend between $350-800 to receive your real estate license in Missouri.
What Are the Requirements for Getting a License from the Missouri Real Estate Commission?
The MO Real Estate Commission requires aspiring agents to complete these steps to be receive their real estate licenses:
Be At Least 18 Years Old
Candidates must be 18 years or older to qualify for a real estate license in Missouri. Potential licensees must also have their fingerprints scan taken by a state-approved vendor for criminal background check.
Complete an Approved Real Estate Prelicensing Education Course
The next step of your journey to MO real estate license is to complete a state-required 72-hour pre licensing education in an accredited institution such as RealEstateU. This school is approved by the Missouri Real Estate Commission, and it offers comprehensive and affordable online real estate courses for students looking to earn their realtor license on a flexible schedule. A pre-licensing real estate education course in Missouri typically comprises two main sections: a 48-hour pre-exam salesperson program and a 24-hour Missouri real estate practice course.
Individuals with real estate licenses in different jurisdictions are advised to visit the Missouri Real Estate Commission’s website to learn more about exceptions that may apply to them.
Pass the Missouri Real Estate Salesperson Exam
Missouri real estate students must take and pass both the state and national portions of the MO salesperson exam. This computer-based test is administered by PSI, and students must pass it with a score of at least 70% to receive their licenses.
Apply for Your License
After completing your real estate education and passing the exam and a criminal background check, you will need to apply for your license through the Missouri Real Estate Commission. This should be done within six months from the day you finished the 48-hour pre-exam course. To file for your license, you will need to find a sponsoring broker and follow other instructions stated by the Missouri Real Estate Commission.
What is the Average Agent Real Estate Commision Rate in Missouri?
One survey of local agents in MO discovered that the average real estate commission rate is 5.58%, which is slightly higher than the national average of 5.49%. This figure is based on the latest median home sale price in the state. Missouri home sellers usually cover the commission fees from their sale proceeds, which is spread between the listing and agent who oversees the transaction. Listing fees in Missouri often hover around 2.89%, with buyers’ agents charging fees in the region of 2.69%.
If you intend to pursue a real estate career in Missouri areas like Kansas City, St. Louis, Springfield, or other localities, make sure you choose a great online school like RealEstateU to learn everything you need to pass your exam on your first try. RealEstateU is trusted by 200,000 students as the best school to earn your MO real estate license fully online.
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