Missouri Real Estate License Continuing Education Requirements
5 Steps to Get Your Missouri Real Estate License
Step-By-Step Guide to Become a Licensed Real Estate Agent
Are you interested in becoming a real estate agent in the great state of Missouri? Of course you are, real estate is booming here! Well, hold on tight cause we're gonna fire off the five steps you need to get your hands on a Missouri real estate license.
You ready? Let's break it down, step by step.
Step 1: Take Pre-Licensing Course
School's Back in Session
You're required to take a "pre-licensing" education class where you'll study the principles of real estate, contracts, and finance. Not a fan of school? Well, these classes just might change how you feel about school. You have so many options! Some of them are even entirely online which has huge advantages! Online classes means you can do them at your own pace and work them in around your own schedule even if you have a full-time job. Also, the classes are only a total of 72 hours! That may seem like a big number, but to get started in a new career, that number is just a speck in time.
But what's included in those 72 hours? Take a look at the curriculum and see for yourself:
- The Missouri Real Estate Practice (MREP) course – 24 hours
- The salesperson pre-examination course – 48 hours
"That sounds scary and hard!"
Don't be scared off just yet. These courses will tackle any confusing topics by breaking them down. Still scared? Trust me, you can do this. The pass rates after taking these classes are sky-high, typically over a 91% pass rate and the support these classes offer is amazing.
Students are always surprised how affordable these classes are. Take a look at the best real estate schools in Missouri and see for yourself. If you're still looking for a way to save some dough, AgentAdvice offers a way to get yours for free.
Step 2: Pass the licensing exam
As soon as you finish the 72 hour pre-licensing course, you must pass the course final exam with a minimum score of 75%.
The exam is broken down into a national and state portion and you are required to take the exam at any of the Professional Service Industries (PSI) testing centers.
There are 140 multiple choice questions all together. 100 questions in the national portion of the salesperson license examination. For you to pass this portion, you must get a minimum score of 70%.
For the state portion, you will need to answer only 40 questions. You must earn a 75% or higher on this section in order to pass. You can sign up for the exam online.
Step 3: Pass the background check
After passing the salesperson license exam in Missouri, you are required to send your fingerprints through IDEMIA (IdentGO) and you will also need to carry out a Missouri federal and state criminal history background check. You must do both of these things if you want to successfully obtain your Missouri real estate license.
MREC conducts that background check to ensure that you have a clean record and maintain a good reputation. It isn't enough to just pass the exam, your criminal history will also be reviewed to ensure the safety of the clients you will be working with after acquiring your license.
Step 4: Finish off the license application
After the successful submission of your fingerprints and the background check of your criminal history, you are required to finish the application process for a license with the Missouri Division of Professional Registration (MDPR). You can visit any of their offices from Monday to Friday within the hours of 8:00 a.m to 5:00 p.m.
Step 5: Find a Sponsoring Broker
Now a word from our sponsor
Finally, you'll need to find a sponsoring broker. 🙋 Uhhh … should I know what a 'sponsoring broker' is? Nope, we'll tell you! So you've passed the exam but it doesn't mean you're ready just yet. When you first start out you'll want an experienced organization to show you the ropes. Sponsoring brokers have been-there-done-that and they're ready to show you how. Not only will they give you all the tools you need to start making sales but they'll help you market yourself as an agent.
You'll get to choose a brokerage you like, that focuses on a niche you love, that has a company culture you love, and most importantly … has a good commission rate, so your paycheck is XL. Worried about finding a brokerage yourself? AgentAdvice helps with warm introductions to hiring brokerages if you sign-up for a class through us. Phew!
You have total freedom to choose your sponsoring broker. Here's some things agents look at when choosing a brokerage:
- Commission Rate
- Look at each brokerage's commission rate when you're shopping around. If they've got a good rate, your commission checks will be larger than life. 💸
- Niche
- Maybe you want a brokerage that focuses on a niche on a location or a specific category of real estate like commercial retail, single family homes, or fixer-uppers. So if you have a specific interest you can find a broker who shares that interest.
- Culture
- Maybe the company's culture is important to you. If so, get to know what they're all about, how they work, and what's important to them.
That's all just to say that you have the freedom to choose a brokerage that fits you.
MREC requirements to get a real estate license
Hello criteria, pleasure to meet you!
Let's answer the most obvious question straight out of the gate. "What the heck is MREC and why do I need to impress them?!" Well, MREC is short for the Missouri Real Estate Commission and it's their job to make sure all agents in Missouri are capable, qualified, and can lawfully work in the state. To do so, they have some basic criteria you must meet. Luckily, most of the requirements are pretty straightforward.
Let's meet the criteria:
- You must be 18 or older
- You must be a US citizen
- You must have a high school diploma or equivalent
Easy, right? This step should be a breeze, and then you're ready to move on to step number two.
How much does it cost to get a real estate license in Missouri?
The cost of acquiring a real estate license in Missouri is within the range of 350 dollars to 800 dollars on average. Although that price differs based on the education program you buy or the price of your real estate school's tuition.
Here is a breakdown of the cost:
- The examination fee is $62
- he application fee is $90
- The background check fees and fingerprint fees are $43.05
- The course tuition fee ranges from $135-$500
How long does it take you to get your Missouri real estate license?
The exact time you need to become a real estate agent in Missouri depends on how fast you finish the education and prep course as these are the most time-consuming parts. The educational courses can be finished in around two months, more or less, depending on your dedication and how soon you want to get licensed.
Scheduling the exam works on a first-come, first-serve basis, but you will be scheduled for an examination within five business days from the date you call or schedule online.
The Missouri Real Estate Licensing Examinations are administered via computer at four PSI test centers: St. Louis, Kansas City, Springfield and Jefferson City five days per week and one Saturday each month at each location.
You will also be required to provide a fingerprint scan for background checks, which usually take around 10 to 14 days.
The whole process of becoming a real estate agent in Missouri can be finished in a couple of months, depending on how fast you manage to complete the course and pass the exam.
How much do real estate agents make in Missouri?
Real estate agents in Missouri earn an above-average annual wage compared to the other states. The average mean wage in the US is $60,087, while agents in Missouri earn $65,040 per year. A top agent in Missouri can earn almost $99,480 or more per year.
The area where real estate agents earn the highest wage in Missouri is the Central Missouri nonmetropolitan area. The average annual salary of real estate agents here is $64,260. However, the top 10% of paying agents are found in the Fayetteville-Springdale-Rogers metro area and earn $138,010 or more per year.
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Source: https://www.agentadvice.com/real-estate-license/missouri/
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