How To Become A Farm Real Estate Agent
Have You Ever Thought Of Becoming A Farm Real Estate Agent?
Obtaining a career as a licensed farm real estate salesperson can be ideal position for many. Not only is there flexible hours, but you are not limited to a specific amount on payday, and you take your earning power into your own hands. Basically, the harder you work, the more money you make! But, prior to diving into this new career, it is important to know the steps involved in becoming an agent, as well as what takes place after acquiring the proper licensing.
Becoming a licensed agent is a fairly simple process; however, the requirements for each state are different. Nonetheless, the outline below is a list of things you will need to do in order to get your real estate license. Now, there is no specific order you must complete the requirements, but there are strictly enforced timelines. It is also important to be aware of any costs and fees associated with courses in your state!
Here’s what you need to do to begin a career and succeed as a real estate agent:
- Meet your state’s licensing requirements.
- Take real estate education courses.
- Pass the correct exams for your state.
- Get started!
- Study your market and stay up to date.
- Be prepared to adapt and learn.
Meet The Licensing Requirements
In order to begin the path towards becoming a real estate agent, you must first meet the minimum licensing requirements. First, a real estate salesperson must be assigned to a licensed broker or firm and can not conduct business independently. Second, the applicant must be 18 years of age or older. It is possible to sit for the exam prior to turning 18, but an applicant must be 18 before applying for a license, which must be within six months after passing the exam.
Take Real Estate Education Courses
Most states require a minimum number of hours of pre-licensure instruction time, often either through an approved classroom or online course. Depending on the state, the requirement can be as few as 40 hours or as many as 300. For example, in the states of Illinois, and Nebraska, you must complete 90 hours but in South Dakota, 116 hours is required. Our Farm and Real Estate Specialist, Rachel Hoy, provided some insight on the steps she took to become a licensed real estate agent in the state of Iowa.
“First, I had to decide between enrolling in the online or in-class 60 hour pre-license course. Ultimately, I elected to complete the initial 60 hours at home over the summer and study every night after work. The in-class option is offered throughout the weekdays or on weekends. It’s really up to you and what works best with your schedule. For me, taking it at home was really flexible, but you have to be self-motivated and learn on your own. The applicant must also complete a background check. This process can take 8-10 weeks to complete, so I recommend initiating that as soon as possible.”
Your pre-license courses should all lead up to your real estate license exam, which is issued by the state and covers working with clients, negotiating, closing a deal and following real estate law.
Pass The Exam
Upon completion of the pre-license course, you will be able to take the State and National exams. Your state sets the minimum score to pass the test Most states allow you to retake the exam if you don’t pass the first time, although there may be a maximum number of attempts or time period between retakes. After passing the exam, you will need to complete any additional required courses, such as buying practices, listing practices, developing professionalism and ethical practices, etc.
In most cases, you will not be able to immediately set up your own firm after obtaining your license! Instead, many find employment under an experienced broker to gain experience. There’s a wide variety of employment options, however, whether it’s a traditional brokerage where you may be placed on the team to gain experience from a higher up agent or opting to go with a nontraditional brokerage that pays a salary.
At DreamDirt Farm Real Estate and Auctions, we provide new agents with the opportunity to learn the ropes of our listing procedures, where to access proper documents, the roles of each team member, advertisement practices, getting their name out and much more! Our goal is to help our agents grow as a professional and individual!
Know Your Market Well And Stay Up To Date
Sure taking the real estate exams and courses can help you understand local real estate law, but as a new professional you’ll have clients relying on you to answer their questions. Agent Rachel Hoy states, “One of the most common question clients ask me is, So how are land prices now-a-days? Typically this leads into an explanation about land value trends, recent sales, $/CSR2 rating, top market prices, and more information than what they originally thought they were going to get. You have to stay up to date on that in order to serve a client.” She adds that, “I’ll make sure a client understands how I calculate the estimate of their farm’s worth, talk with them about the property, and help them gain a deep understanding of their options as a seller.”
Real estate agents work to serve their clients’ best interests and must be committed to guiding sellers through a successful sale.
“I strive to stay connected in my community and work to become a friendly face that others can trust and, eventually, recommend to potential clients. Writing blog posts about my experiences helps me relate to sellers. They want someone who understands what they are going through and will treat them with respect, professionalism, honesty, and commitment.”
Be Ready To Adapt And Learn
The economy, government policy, and more can have an effect on the real estate industry. Agents have to be ready to adapt to any issues that may arise. In order to be a successful farm real estate agent, one must have devotion and work to stay ahead of the game by furthering your knowledge base of agricultural real estate and land market trends.
Are You Sold Yet?
Thinking a career in farm real estate may be for you? DreamDirt is hiring Farm Real Estate Agents! Whether you live in South Dakota, Missouri, Nebraska, or any other Midwest state, DreamDirt is interested in hearing from you!
DreamDirt Farm Real Estate Agents earn income from:
Representing property sellers and buyers
Real estate consulting
Creating real estate appraisals
We strongly believe our agents are the most important part of our business. Your work will be supported by our full-time staff who administrate the process and advertise the property.
Requirements to become a DreamDirt Farm Real Estate Agent:
- You must be at least 18 years old
- You must be licensed to sell real estate OR eligible to become licensed
- You must pass a pre-screening assessment
- You must invest in necessary start-up costs such as acquiring your real estate license, personal advertising materials, and additional training.
- This is a 100% commission position. Each client that sells with DreamDirt brings in a commission that is then split between you and the company.
Auctioneer, Land Broker, Appraiser
Jason is an Auctioneer and Land Broker in northwest Iowa at Storm Lake and Mason City. Jason and his Iowa farmland team specialize in farmland sales primarily serving the heirs to family farms. Today's report details the current land market in Iowa for land being sold at auctions.
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Tom Bradley is a Partner, Agricultural Auctioneer, and Land Broker. Additionally, he is the Lead Auctioneer at DreamDirt. He is responsible for auction operations and ensuring our live and online auction teams are performing at their best. He is also a CAI designated...
Jason is an Auctioneer and Land Broker in northwest Iowa at Storm Lake and Mason City. Jason and his Iowa farmland team specialize in farmland sales primarily serving the heirs to family farms. Today's report details the current land market in Iowa for land being...
Rachel is a licensed real estate salesperson specializing in the sale of farm, land, and rural residential real estate. Rachel is a graduate of Iowa State University with a major in Animal Science and minor in Agricultural Business. Rachel has a strong interest in...