How To Become A Real Estate Agent In Missouri (5 Steps)

We developed this guide to teach you how to become a real estate agent in Missouri and increase your earnings potential. With a little direction, due diligence, and hard work, there’s no reason you can’t build wealth through real estate by following these steps:

• Missouri Real Estate Agent Requirements
• Confirm You Are Eligible To Become A Real Estate Agent
• Complete Your Prelicensing Real Estate Coursework
• Pass The Missouri Real Estate Salesperson Exam & Apply For A License
• Join A Missouri Real Estate Broker
• Missouri Real Estate License Renewal
• Pros & Cons Of Becoming A Real Estate Agent In Missouri
• Missouri Real Estate Agent FAQ
• Final Thoughts On How To Become A Real Estate Agent In Missouri

Missouri’s housing sector boasts significant opportunities for individuals to build wealth. While there are several ways to capitalize on the local real estate market, however, few are as accessible to the masses as learning how to become a real estate agent in Missouri. With the proper credentials, even new Missouri real estate agents can participate in one of the most lucrative sectors.

Missouri Real Estate Agent Requirements

According to the National Association of Realtors (NAR), Missouri’s real estate industry accounts for about 15% of the state’s gross domestic product (GDP). For context, 15% of the state’s GDP equals about $58.4 billion. Due to the economic impact of real estate on The Show-Me State, Missouri’s Real Estate Commission has established a strict set of requirements for professionals in the real estate industry. In particular, aspiring real estate agents must complete the following steps to be able to practice real estate with a license in the state of Missouri:

• Step 1: Confirm You Are Eligible To Become A Real Estate Agent
• Step 2: Complete Your Prelicensing Real Estate Coursework
• Step 3: Pass The Missouri Real Estate Salesperson Exam & Apply For A License
• Step 4: Join A Missouri Real Estate Broker
• Step 5: Missouri Real Estate License Renewal

1. Confirm You Are Eligible To Become A Real Estate Agent

Applicants must meet specific eligibility criteria to become a real estate agent in Missouri. First and foremost, individuals must be at least 18 years old. Additionally, they must pass a background check. In doing so, aspiring agents must provide evidence of fingerprinting through the approved statewide vendor, IDEMIA (IDENTOGO).

To initiate the fingerprinting procedure through IDEMIA, prospective agents must register with the Missouri Automated Criminal History Site (MACHS). This online platform facilitates fingerprinting and ensures applicants adhere to the state's regulatory standards. When registering, the fingerprint princess and background check will set aspiring agents back a little less than fifty dollars.

Aspiring real estate agents must prioritize meeting these eligibility requirements before delving into the specifics of the licensing process. By doing so, individuals streamline their path toward becoming licensed real estate professionals in Missouri.

2. Complete Your Prelicensing Real Estate Coursework

After ensuring eligibility by meeting the age requirement and passing a background check, aspiring real estate agents in Missouri can move on to the second step: taking 72 hours of approved pre-license coursework. This coursework will equip individuals with the skills and expertise they need to thrive in Missouri’s real estate market.

The pre-license coursework comprises two distinct components: the 48-Hour Missouri Salesperson Pre-Examination Course and the 24-Hour Missouri Real Estate Practice Course. The comprehensive nature of these courses ensures that aspiring agents receive a well-rounded education covering key aspects of the real estate profession.

The 48-Hour Missouri Salesperson Pre-Examination Course delves into foundational concepts essential for success in the real estate industry; this includes exploring legal principles, ethical considerations, property rights, contracts, and other fundamental topics crucial for operating within the state's regulatory framework.

Following this, the 24-Hour Missouri Real Estate Practice Course takes a more hands-on approach. It provides practical insights into the day-to-day activities and challenges real estate professionals face in Missouri. Topics covered may include negotiation strategies, client interactions, property valuation, and other practical aspects of the industry.

It is worth reiterating that the curriculum must be preapproved to count towards the requirements. Visit the Missouri Real Estate Commission, which provides a list of approved education providers. Of the approved courses, Colibri Real Estate has separated itself from the competition. Colibri Real Estate offers several approved online packages, offering students everything from exam prep to comprehensive learning materials. Packages range from $298 to $556 and include a variety of amenities for aspiring agents. Perhaps even more importantly, Colibri is so confident you will pass the Missouri Salesperson exam on the first try that it will reimburse you the whole package price if you don’t.

By completing these courses, aspiring agents gain a comprehensive understanding of the real estate landscape in Missouri. This knowledge not only prepares them for the licensing examination but also ensures that they enter the field with the requisite expertise to serve clients effectively and ethically. The emphasis on both theoretical and practical components in the coursework contributes to the development of well-rounded professionals ready to navigate the complexities of the local real estate market.

Read Also: Colibri Real Estate Review

3. Pass The Missouri Real Estate Salesperson Exam & Apply For A License

After completing the 72 hours of pre-license coursework, the next crucial step in becoming a Missouri real estate agent is to take the salesperson exam. This examination is a pivotal assessment of the knowledge and skills acquired during the preparatory coursework. The exam is divided into two sections: the national portion, covering general real estate principles applicable across the United States, and the state portion, which specifically addresses Missouri's real estate regulations and practices.

To sit for the exam, candidates must pay a $62 fee. Aspiring agents must adhere to the scheduled exam date, as no refunds are issued for those who miss it; this underscores the importance of thorough preparation and commitment to the examination process.

Upon successfully passing the exam's national and state sections, candidates can proceed to the final step: applying for their Missouri real estate license. The application process requires evidence of passing the exam. Additionally, applicants are required to submit a $90 fee, with $50 allocated to the application fee and $40 dedicated to the license issuance.

This application fee covers the administrative costs of processing and reviewing the candidate's qualifications. Once the application is approved, the Missouri Real Estate Commission issues the license, officially recognizing the individual as a licensed real estate agent. However, it is essential to note that newly licensed agents can’t practice in Missouri until they start working under a qualified broker, which brings us to our next step.

4. Join A Missouri Real Estate Broker

The next step in becoming a Missouri real estate agent involves working under a licensed broker. Newly licensed agents must refrain from practicing independently and affiliate with a brokerage to commence their real estate careers. This requirement stems from the state's commitment to ensuring that emerging professionals gain practical experience, mentorship, and oversight in the field.

By affiliating with a brokerage, newly licensed agents can learn from seasoned professionals who guide real estate transactions, client interactions, and market dynamics. Working under a broker allows agents to apply the theoretical knowledge acquired during pre-license coursework in a real-world setting. They gain practical insights into the nuances of negotiations, contract execution, and ethical considerations within Missouri's real estate market.

Additionally, this hands-on experience fosters a deeper familiarity with nearly every aspect of the industry. The mentorship provided by a broker not only ensures compliance with state regulations but also aids in the development of essential skills.

5. Missouri Real Estate License Renewal

To remain an expert on industry trends, laws, and regulations, real estate agents in Missouri must renew their licenses every two years. The Missouri Real Estate Commission mandates active agents to undertake at least twelve hours of approved continuing education courses. This requirement ensures that agents remain well-informed and up-to-date on the evolving landscape of the real estate market.

Of the twelve hours, a minimum of three must be completed in a course approved by the Missouri Real Estate Commission. These core courses typically cover fundamental topics essential for maintaining a high standard of professionalism and adherence to regulatory standards. Consequently, Colibri offers its own continuing education package for $99 that’s already been approved by the Missouri Real Estate Commission.

*For in-depth training on how to become a real estate agent in Missouri, Real Estate Skills offers extensive courses to get you ready to make your first investment! Attend our FREE training and gain insider knowledge, expert strategies, and essential skills to make the most of every real estate opportunity that comes your way!

Pros & Cons Of Becoming A Real Estate Agent In Missouri

Before learning how to become a real estate agent in Missouri, it’s crucial to weigh the pros and cons of the profession. Weighing the pros and cons of becoming a real estate agent in Missouri is essential for determining whether or not the industry is right for you.

Benefits Of Becoming A Real Estate Agent In Missouri

Learning how to become a real estate agent in Missouri coincides with many benefits, including:

• Lucrative Profit Potential: Obtaining a real estate license in Missouri opens the door to lucrative profit potential through commission-based earnings on successful transactions, allowing agents to boost their income significantly.
• Fulfilling Role In Realizing Dreams: Real estate agents play a fulfilling role in helping clients achieve their homeownership dreams, contributing to the satisfaction of facilitating a significant life milestone for individuals and families.
• Flexibility & Independence: Having a real estate license in Missouri offers flexibility and independence as agents can set their schedules, manage their workflow, and be free to shape their career trajectories based on personal preferences and goals.
• Networking Opportunities: The real estate profession provides ample networking opportunities, allowing agents to connect with various professionals, from mortgage brokers to other real estate agents, fostering valuable relationships that can contribute to career growth and success.
• Gateway To Wholesaling & Flipping Opportunities: working as a real estate agent in Missouri is a valuable stepping stone for those exploring wholesaling and property flipping. Acquiring insights into market dynamics, property values, and negotiation skills lays a robust foundation for individuals eyeing a transition into real estate investment.

Read Also: 11 Best Platforms For Your Real Estate Social Network

Drawbacks Of Becoming A Real Estate Agent In Missouri

Learning how to become a real estate agent in Missouri comes with many drawbacks, including:

• Income Uncertainty: Obtaining a real estate license in Missouri comes with the drawback of income uncertainty, as agents often face earnings fluctuations due to the industry's commission-based nature, making financial stability less predictable.
• Intense Competition: The real estate sector is highly competitive, and securing clients and transactions can be challenging, especially for new agents, necessitating a continuous effort to stand out in a crowded market.
• Lack Of Employee Benefits: Unlike traditional employment, real estate agents in Missouri typically do not receive employee benefits such as health insurance, retirement plans, or paid time off, adding to the financial considerations and responsibilities of self-employment.
• Irregular Work Hours: Real estate professionals often work irregular and long hours, including evenings and weekends, to meet clients’ needs, leading to potential challenges in achieving work-life balance and impacting personal time.
• Upfront Costs & Fees: The process of obtaining and maintaining a real estate license in Missouri involves various costs and fees, including licensing fees, continuing education expenses, and marketing costs, which agents must consider in their overall budget and financial planning.

Missouri Real Estate Agent FAQ

Knowing the answers to the most frequently asked questions about obtaining a Missouri real estate license is crucial for informed decision-making. It provides aspiring agents with a clear understanding of the requirements, costs, and commitments involved, enabling them to make well-informed choices about entering the real estate profession.

How Much Does A Missouri Real Estate Salesperson License Cost?

Obtaining a real estate license in Missouri involves several costs. The background check and fingerprinting process typically amount to around $50. Prelicense coursework expenses vary, ranging from $298 to $556, depending on the provider and the extent of the educational package chosen. The salesperson exam incurs a fee of $62, and applying for the license requires a payment of $90.

After successfully obtaining the license, there's an ongoing cost for license renewal, occurring every two years. The renewal fee is $99, reflecting the recurring expense of maintaining an active real estate license in Missouri.

How Long Does It Take To Get A Real Estate Salesperson License In Missouri?

The timeframe to obtain a Missouri real estate license varies, but the most time-consuming component is typically the 72-hour pre-license coursework. While completing background checks, fingerprinting, the salesperson exam, and license application add to the timeline, aspiring agents commonly find that dedicating time to the pre-license coursework is the most time-consuming part of the process.

When all is said and done, getting a license can happen in a few months.

How Much Do Real Estate Agents In Missouri Make?

Earnings for real estate agents in Missouri can vary depending on factors such as experience, location, and market dynamics. On average, agents’ commissions are about 2.5% to 3% of the property's sale price per transaction. Considering the average Missouri home value is $235,844 (according to Zillow), this translates to approximately $7,975.32 per deal for the state's average real estate agent.

While this serves as a simplified example, it underscores the earning potential for those pursuing a career as a real estate agent in Missouri. Successful agents with established clientele and strong networks often achieve higher incomes, while those starting out may experience variable earnings initially.

Final Thoughts On How To Become A Real Estate Agent In Missouri

Obtaining a Missouri real estate license is a wise decision for those seeking to enter the real estate industry, but the process can be complex. We've crafted a comprehensive guide to simplify the journey and empower individuals to build wealth in Missouri's real estate sector. This resource is designed to streamline the licensing process, offering valuable insights and step-by-step guidance. Whether navigating the intricacies of coursework, examinations, or practical aspects of the profession, our guide aims to make the path to a real estate career in Missouri more accessible for everyone.

Ready to take your real estate career to the next level? Contact Real Estate Skills today and unlock the full potential of your real estate ventures. Our experts are here to provide guidance, resources, and strategies to help you thrive in the real estate investing industry. Don't miss out on this opportunity to enhance your skills and boost your success. Get in touch with us now and elevate your career in real estate.