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The Indiana Real Estate Institute blog is specifically for students in Indiana to help further their education no matter where they’re starting at.
Our director and lead instructor Brian C. Lee hosts a highly acclaimed podcast on appraisal related topics called Real Estate Appraisal Between The Lines.
A-Ha! Real Estate Exam Prep is all about helping real estate students get the tips, strategies, and secrets needed to pass the real estate class and state exam.
Frequently Asked Questions
Selling real estate can be financially rewarding as well as a personally satisfying career. As a real estate professional, you will work with the public and help them achieve their housing needs. While some people are selling their current homes and buying new ones, many are first time buyers. If you like to work with people and help them, while earning a financially, psychologically and emotionally rewarding living, this may be the right career for you.
Typically, real estate agents are contractors. This gives them a lot of freedom to determine how to do their job and how to be successful. But, because real estate agents work for a broker, the agent usually receives training and guidance from the broker while working within the office policies and guidelines.
That depends on you. Real estate agents are paid a commission based on closed sales. The greater your volume in sales and listings, the higher your income will be. The smarter you use your time and efforts in your career, the more financially successful you will be.
In real estate sales, raises are generally built in for two reasons. Typically, the value of real estate increases over time. Because you are paid on commission, as the sale prices increase, your commissions will increase, too. Because you are paid on volume, the longer you are in the business, the more contacts and referrals you will develop. As the volume of your sales increases, so will your income.
That depends on your goals and your broker’s needs. As a real estate agent, you work with the public and make appointments at times convenient to everyone. This may be during the day, in the evening and may include weekends. The hours you work are largely up to you. It depends on what you need to succeed.
Real estate agents do have personal lives too! This means that they take time off for vacations and holidays. Also, agents are independent contractors so they have a choice on how often and how much time they work. Because agents work on commission, they try to schedule time off around their business obligations. But then again, so do most people.
The state of Indiana requires an applicant for a real estate license to be at least 18 years of age, complete a state approved real estate pre-licensing course of 90 hours, which includes 3 exams with a passing score of 75%, and then pass the state exam, also with a passing score of 75%. Some other conditions apply – see your broker or call our office for details.
The State of Indiana requires a licensee to be a minimum of 18 years old. Some very successful agents are in their 70’s. In this business, there is no age discrimination. It is the person’s ability and desire to succeed that determine how well they will do. As long as you have determination you can do anything!
Most of the real estate brokerages in Indiana hire new licensees. We work with a number of real estate brokers who do and will make your name available to Brokers if you wish. You can also search online and call any broker – let them tell you about their career opportunities.
As a real estate agent, you will become familiar with property values in areas where you work. You will also become aware of properties as they are first listed. This may give you an advantage over other investors who are not in the business.
Real estate licensees, typically brokers, work in different areas of the real estate industry, including property management, investment counseling, appraisal, and training. The real estate license “opens the door” to many careers in the real estate field.
You are the only one who determines how successful you will be, but the first step for your success in this field is getting your license by calling IREI today! 317-888-3000.
A real estate agent is a person that helps their clients buy, sell, or rent real estate.
A real estate broker is a person who has a real estate broker’s license. Simple! This license is an upgraded salesperson’s license that lets the broker do everything a salesperson can, plus open their own real estate brokerage and work for themself.
Managing brokers oversee transactions and daily operations in the office.
The next step is to schedule your state test with PSI.
Around $54 each time you take it.
You have up to a year to pass the State test after graduating the course and you can
take it as many times as needed in that year.
In Indiana you will be able to do all things real estate related with your license provided you have free will from your Managing Broker, ex) Buy, sell, property management, commercial, land, agricultural properties, wholesaling, investing, etc.
I usually recommend that they call the Indiana Professional Licensing Agency to find out what their requirements are as Indiana only reciprocates with Illinois.
Yes, but I normally recommend that when a student is in their last module they start calling brokerages to schedule interviews and if they need help narrowing down after speaking with brokerages we can help walk them through that but cannot make the decision for them.