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Rainer
21,291
Grace Hanamoto
Intero Real Estate - Sunnyvale, CA
Quality, Knowledge, Professionalism, Experience

Bob,

You ask the most timely questions.  Recently, I put my license activities on hold to take care of a family member, but I've come back into it again with a new broker, so I know EXACTLY what it costs to bring this in California.  I work with a major company here, and the costs for my Board fees, my MLS, my key (to open the key boxes), new signs, stationery and cards, and increased auto insurance came in around $3000.  If I added the cost of getting the license from scratch (test, classes, filing fees), the cost elevates to around $3500 total for costs.

There are also incidentals to consider--clothing, shoes, makeup, hair/grooming--that are necessary to do this job.  While there are opportunities to be "business casual," a good agent is still a polished agent in appearance and skill.

So I'm going to say between $4,000 to $5000 in California.

 

May 09, 2016 04:12 PM
Rainmaker
916,073
Jennifer Mackay
Counts Real Estate Group, Inc. - Panama City, FL
Your Bay County Florida Realtor 850.774.6582

Depends on your monthly living budget as well - Minimum 6 months living + start up costs - can be well over $10k

Aside from classes, test, dues (right  there you're at over $2k alione) - you have signage, business cards, living expenses to go full time, lock box key, any technology you want to employ etc.

May 09, 2016 07:32 PM
Rainmaker
4,175,510
Dorie Dillard Austin TX
Coldwell Banker Realty ~ 512.750.6899 - Austin, TX
NW Austin ~ Canyon Creek and Spicewood/Balcones

I have no idea but gussing over a $1,000.

May 09, 2016 09:52 PM
Rainmaker
846,325
Marco Giancola
Beachfront Realty - Miami Beach, FL
Realtor (305)608-1922, Miami Beach Florida

Classes $395.00

Board dues including NRA $685.00

Pencils, what's a pencil?

May 09, 2016 09:03 PM
Rainmaker
576,323
Eric Kodner
Madeline Island Realty - La Pointe, WI
CRS, Madeline Island Realty, LaPointe, WI 54850 -

There are plenty of hidden fees involved as well, including lockbox costs, Realtor Association costs and dues (national/state and local), assorted MLS expenses, follow-up (post-license) education and training, E&O (if not covered by broker), desk fees and other in-house expenses imposed by the broker, start-up marketing/branding and personal advertising (such as an agent website). All these push the cost up far higher than most newbies realize.

May 09, 2016 08:55 PM
Rainmaker
873,955
Peter Mohylsky. Broker -BRIX REALTY
Miramar Beach, Florida - Santa Rosa Beach, FL
BRIX REALTY -DESTIN

I am not sure but the costs to get started do not even come close to the expense of running the business. 

May 09, 2016 07:54 PM
Rainmaker
3,613,923
James Dray
Fathom Realty - Bentonville, AR
Exceptional Agents, Outstanding Results

Around 1,500.00 to 2,000.00

May 09, 2016 07:22 PM
Rainmaker
2,436,841
Joe Petrowsky
Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709 - Manchester, CT
Your Mortgage Consultant for Life

Good morning Bob. Have been told it is between $1500 and $2,000.

May 09, 2016 06:02 PM
Ambassador
3,034,690
Tammy Lankford,
Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668 - Eatonton, GA
Broker GA Lake Sinclair/Eatonton/Milledgeville

I would say $1500 between classes, background check and testings and license fees

May 09, 2016 03:05 PM
Ambassador
4,558,844
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

Not sure but guessing over $1000. Do we even need a pencil these days?

May 09, 2016 02:56 PM
Ambassador
1,771,405
Noah Seidenberg
Coldwell Banker - Evanston, IL
Chicagoland and Suburbs (800) 858-7917

thousands

May 09, 2016 01:45 PM
Rainmaker
3,972,761
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Boy classes probably 1200, Test another 400, and then so much more.

 

May 14, 2016 12:40 AM
Rainmaker
4,888,469
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

It has been a long time since I had to do this, but reading some of the posts, can imagine this amount being $5K or more.   Also, keep funds in the savings account to get you through until the first closing (or more).

May 11, 2016 11:04 PM
Ambassador
5,360,784
Bob Crane
Woodland Management Service / Woodland Real Estate, EXP - Stevens Point, WI
Forestland Experts! 715-204-9671

I am amazed at how inexpensive it is in many states.

Even without the pencil I think that it may be at least 3 to 5 thousand in Wisconsin

Over a thousand just for the first year with the Realtors assn.

May 10, 2016 01:53 PM
Rainmaker
597,269
David Gibson CNE, 719-304-4684 ~ Colorado Springs Relocation
Colorado Real Estate Advisers LLC - Colorado Springs, CO
Relocation, Luxury & Lifestyle residential

Bob,

 

It looks like around $1,500 here in Colorado.

May 10, 2016 12:58 PM
Rainmaker
1,635,842
Sandy Padula and Norm Padula, JD, GRI
HomeSmart Realty West & Lend Smart Mortgage, Llc. - Carlsbad, CA
Presence, Persistence & Perseverance

Over $1200 not including pre-licensing and exam costs

May 10, 2016 08:28 AM
Rainmaker
864,358
Les & Sarah Oswald
Realty One Group - Eastvale, CA
Broker, Realtor and Investor

Grace Morioka pretty much answered it for the state of CA. However, the cost is slightly more reasonable for the Southern part of the state.

May 10, 2016 05:35 AM
Rainmaker
4,799,481
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Just the basics, I'm guessing around $1,000 for class, joining the board and dues.

May 10, 2016 04:55 AM
Rainmaker
4,161,791
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Would think the major cost is joing the Natioanl, State and Local boards along with the MLS fee, lockbox fee and finally E&O. Past that you will have incidentials lke lockboxes, signs and business cards!

May 10, 2016 04:17 AM
Rainmaker
1,380,923
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

The board was almost $2k.  Can't speak to the other costs, classes were 18 years ago.  Exams are cheap and the fingerprint was too.

May 10, 2016 03:14 AM
Rainer
69,594
Shawn and Angela Miller
Berkshire Hathaway HomeServices Amabassador Real Estate - Lincoln, NE
Lincoln and Omaha, NE REALTORS®

About $1500 each I believe, not including your time.  By the time you pay for books, classes, lectures, fingerprinting/background check, commission fees, REALTOR® fees, and taking and passing the test once, E&O insurance, and driving to and from the test..... I think that was about it.

May 10, 2016 01:33 AM
Rainmaker
882,857
Annette Lawrence , Palm Harbor, FL 727-420-4041
ReMax Realtec Group - Palm Harbor, FL
Making FLORIDA Real Estate EZ

To get ones license and reach the status of "I am a agent. Now What?" only costs about $2,000.

However that does not mean you have a business. To actually sustain a business, where there is measurable income, the costs start piling up. How high depends on that business plan.

May 10, 2016 12:45 AM
Rainmaker
1,149,309
Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

classes-$500

license-$200

e&o-$650

Dues+Supra-$960+fob.

Desk fee- strong negotiation skills ask for a waiver. after it comes up go to another brokerage that is lower or free.  It can be $400/mo. 

color printing, cards, flyers

transaction fee (if sell) $300 ea

Website-custom $1000+IDX fee

custom signs-$500 before the year end go order another set for the next brokerage

Phone service

technology fee

umbella insurance policy

------------------------------

Cards

car lease

traffic ticket(s) 

door knocking w/o a city solicitation license

suit/professional dress

gas

shoes

marketing

mailing

after 1 year no sale -file bankruptcy

 

 

May 10, 2016 12:18 AM
Rainmaker
3,069,934
Tony and Suzanne Marriott, Associate Brokers
Serving the Greater Phoenix and Scottsdale Metropolitan Area - Scottsdale, AZ
Haven Express @ Keller Williams Arizona Realty

about $1k...

May 10, 2016 12:04 AM
Rainmaker
4,061,975
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

Opportunity costs.   A noun and a verb.  

May 09, 2016 11:57 PM
Rainmaker
1,457,027
Michael Setunsky
Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

Bob Crane I'd say around $1,500 to get started. Much more to stay in the business.

May 09, 2016 11:20 PM
Rainmaker
3,985,837
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

You Ned to spend some money to get things rolling

May 09, 2016 11:19 PM
Rainmaker
5,571,343
Barbara Todaro
RE/MAX Executive Realty - Retired - Franklin, MA
Previously Affiliated with The Todaro Team

not enough.... up the fees and reduce the number of participants.....

May 09, 2016 10:52 PM
Rainmaker
1,398,458
Raymond E. Camp
Ontario, NY
Licensed Real Estate Salesperson Greater Rochester

Give or take about $2000!

May 09, 2016 10:48 PM
Rainmaker
6,547,284
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

I have not done the calculations. 

I started by opening an office and it required a major investment.

May 09, 2016 10:42 PM
Rainmaker
4,433,583
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

Do not know.

May 09, 2016 10:35 PM
Rainmaker
4,059,138
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

No idea, as I've been licensed in NC for going on 19 years. But it's not cheap and when you consider costs of joining mls, etc. it can't be less than a couple of thousand dollars these days.

May 09, 2016 10:18 PM
Rainmaker
424,805
Brenda J. Andrew
ULTIMA REAL ESTATE - Corpus Christi, TX
Professional Realtor in Corpus Christi, TX

It use to be close to $1,000 but I think it has gone down a little bit.  When I started the classes were $500-$600 and now people can go online and get them for $250.  The $1,000 doesn't include computer, printer, etc.  When you get started you can work for a company that provides all of that-although it's best to have your own.

May 09, 2016 10:09 PM
Rainmaker
1,157,485
FN LN
Toronto, ON

It depends upon the individual, the definition of "total cost" and what is being started.

May 09, 2016 09:26 PM
Rainer
318,713
Melissa Jackson
Century 21 Alliance Properties - Azle, TX
Helping You Make The Right Move

over $1,000

May 09, 2016 02:34 PM
Ambassador
4,312,753
Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Bob Crane it is under $700 including exam, classes etc - if done in one attempt....lol!

May 09, 2016 02:32 PM