How to Renew Your Real Estate License

A license is required to sell real estate and in many states, that license can be revoked for certain crimes. With the advent of blockchain technology, it’s now possible for anyone to purchase a property without ever meeting the previous owner or signing any paperwork with bank statements and other documents. This could change how we buy houses today, as well as open up yet more opportunities for small businesses..

The “How to Renew Your Real Estate License near detroit, mi” is a guide on how to renew your real estate license. The article has some tips on how to make the process easier.

To keep working as a real estate agent or broker, you must renew your license on a regular basis by the time set by your state. Each state has its own criteria for renewing a real estate license, so be sure to check your state’s requirements and take continuing education seminars before submitting papers to renew your license.

Start your search for the top continuing education programs for renewing your license with Kaplan. They provide a wide range of course subjects and styles, allowing students to choose the most effective and engaging learning technique. Take a look at their educational options right now.

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The five most typical processes for renewing your real estate license are shown below.

1. Understand the Renewal Requirements

You must renew your real estate license by the deadline in your state in order to keep your position as a real estate agent. Real estate agents and brokers must renew their licenses every two to three years in the majority of states. Only a few states, however, have a longer renewal term.

Keep in mind that some states only have one kind of license. In Colorado and North Carolina, for example, real estate professionals’ entry-level position is “provisional broker,” not “agent.” If they wish to continue practicing real estate, real estate professionals, regardless of their title, must renew their license by the deadline.

Renewal Requirement Guides by State

2. Locate Continuing Education Opportunities

If you’re renewing your real estate license for the first time, several states have different continuing education (CE) requirements. You may be required to take a post-licensing course if your state does not have any extra requirements for first-time renewals. The number of credit criteria for subsequent real estate renewals for agents and brokers is frequently reduced.

The following are the four categories of continuing education requirements:

Post-licensing Training

A few states, like North Carolina and Georgia, require Post-licensing Training instead of having additional requirements for the first license renewal. Post-licensing Training, like those offered by the best continuing education providers in North Carolina, are designed to educate and prepare new real estate agents or brokers for success, and they must be completed within one to three years of receiving your real estate license.

Renewal Courses for the First Time

If you’re a real estate agent or broker renewing your license for the first time, several jurisdictions, such as Texas and California, have extra requirements. Some of the finest continuing education providers in Texas, for example, provide packages to assist you complete the 98 hours of SAE courses necessary before your initial real estate license renewal.

The initial renewal of a real estate agent or broker license in California has a different number of required courses than future renewals. Check your state’s continuing education (CE) requirements and give yourself plenty of time to finish any remaining training.

Renewal Courses in the Future

Your real estate license renewal criteria will remain the same after your initial license renewal or post-licensing requirements. Although the amount of needed continuing education hours will be reduced, you must complete them in time to earn the certificates and submit the extra documentation and payments by the deadline.

State-specific Mandatory & Elective Courses

For each real estate license renewal cycle in most states, there are necessary CE course subjects. In Texas, for example, legal updates must account for eight of the minimum CE hours. The remaining needed hours may be made up of electives, which means you can take courses on anything interests you.

Here are a few examples of optional topics from Kaplan, one of the leading real estate CE providers:

• Preventing Real Estate Disaster: Navigating Minefields
• How Water Affects Property
• Property Repurposing in Texas: Friend, Foe, or American Dream?
• When it comes to price, quality, and value, there’s no such thing as good, better, or best.
• 1031 Tax-Free Exchanges: What You Need to Know

Various online real estate colleges provide hundreds of different optional course subjects. Consider the optional themes and how they can assist you expand your real estate firm when purchasing continuing education courses online.

Requirements for Real Estate License Renewal Examples

3. Enroll in a real estate program.

You must take CE courses from a school that has been recognized by your state. Depending on your state’s regulations, you may attend continuing education classes in person or online. Online CE programs are highly popular because they enable you to attend courses at a reasonable cost, on your own time, and in a number of forms.

The following are the top three online real estate schools in the United States:

• Kaplan Real Estate Education: Kaplan Real Estate is the only online school that offers lessons in a variety of forms, including reading, live instructor classes, webinars, on-demand videos, and even home study with a textbook.
• Real Estate Express: This school, which is affiliated with McKissock Learning, provides more CE course packages in more states than any other online school. Its text-based classes are highly recommended by real estate experts and can be completed on your own time.
• Mbition—Learn Real Estate: Mbition provides a variety of online education packages that do not need teachers or professors. Students have given their courses high marks, and they provide some of the most economical online courses available.

Visit our post on the finest online real estate colleges to learn more about these and other high-quality course providers.

4. Obtain a Completion Certificate

You must complete all of your continuing education courses and acquire a certificate or evidence of completion in order to renew your real estate license. Some jurisdictions, such as Michigan, don’t demand evidence of CE while renewing your license, but you’ll still need a certificate if you’re audited. Most states let you select whether you want to attend a live class or finish your CE online.

Formats for Continuing Education Courses

In certain areas, such as North Carolina, real estate professionals are required to attend all CE classes in person. The majority of states, however, allow real estate agents and brokers to choose their preferred course structure. Consider the cost, your schedule, and your learning style when selecting a CE course structure.

These are the several types of CE courses you may find:

• In-person lessons: If you learn best in a classroom environment, in-person classes may be for you. While scheduling them might be challenging, it’s crucial to set yourself up for success, so think about if this is your preferred learning approach.
• Online reading lessons: Online courses are typically the most cost-effective and convenient way to get CE credits. Each lesson may be completed at your leisure. Large volumes of reading information, on the other hand, might be difficult to assimilate.
• Online live webinars combine the ease of online courses with the assistance of a live teacher. They are, however, not regularly given and are only available via a few real estate colleges.
• On-demand video classes: Agents and brokers with a variety of learning styles may benefit from on-demand video courses, which can be accessed at any time of day. However, most online colleges do not provide these, and they may be more expensive.
• Kaplan is the only company that offers home study classes. They enable you to complete a course by reading a hard copy textbook and mailing in your test questions.

Pro tip: For busy real estate agents and brokers, online courses are ideal since they allow them to take the course on their own time. Online schools, on the other hand, only provide students access to courses for a certain period of time, generally between six and twelve months. Many institutions also do not grant extensions, so double-check the dates of your course’s validity to ensure that you finish on time.

5. Submit Paperwork & Complete License Renewal

Submitting the required documents is the last step in renewing your real estate license. If your license is expired, revoked, or inactive, you may need to complete extra paperwork or duties in order to renew it.

These papers must be submitted by all real estate sales agents and brokers:

• Once you’ve finished your course, a school may take anything from a few days to a few weeks to produce your CE certificate of completion. While some states do not need this for license renewal, you must have it on file by the time your renewal application is submitted.
• Renewal application: Your state’s application may be found on the licensing board’s website. The application may be completed and submitted online, or it may need to be printed and sent.
• Renewal cost: Depending on your state, you may pay your renewal fee online or by mail. If you do not pay by a recommended method, certain states may charge you an additional fee. The amount of your renewal fee varies by state and is determined on your job as an agent or broker, as well as the status of your license.

When you renew your real estate license in any state, you will be charged a fee. Real estate agent costs range from $32 to $245, while real estate broker fees range from $36 to $300, depending on the state.

Most Commonly Asked Questions (FAQs)

Is it necessary for me to renew my real estate license on a regular basis?

Every state has its own dates for renewal, although they typically vary from two to four years. Check the website of your state’s real estate department or licensing board for the renewal date.

What happens if I don’t renew before the deadline?

Late real estate license renewals are handled differently in each state. In certain areas, your license will automatically expire, and you will need to repeat the real estate test and pay an application fee to get a new one. After the application deadline in certain states, there is a grace period.

In New York, for example, if you miss the date for renewing your real estate license, your license will automatically expire. In Michigan, however, there is a 60-day grace period. You may submit the appropriate documentation for an extra charge within this grace period. Although you are not permitted to practice real estate during this grace period, you are permitted to resume doing so after your renewal application has been filed.

In certain states, you may keep and renew your real estate license while it is dormant. Inactive real estate agents are unable to make deals, but they may request that their license be reactivated without having to retake the real estate test.

Is it possible to renew my real estate license after it has expired?

If your real estate license has expired and you wish to reinstate it, you must first discover the criteria in your state. Some states may demand you to repeat the real estate test and pay an application fee if you fail the first time. Some states may enable you to renew your license by completing the CE credits you missed if your license has been expired for less than three years.

What is the procedure for checking the status of my real estate license?

On the website of your state’s real estate commission or via ARELLO, you may check the status of your real estate license. To check the status of your license, use your first and last name or your license number.

Conclusion

To renew your real estate license, you must first determine the renewal criteria in your state. You’ll finish your license renewal by completing all required continuing education hours and submitting all papers. Your state may need extra procedures, so be sure to check your state’s website for specifics.

The “real estate license renewal michigan” is a process that must be done in order to continue working as an agent. The process varies from state to state, but it is important to know the steps if you plan on continuing your career.

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