As you explore how to become a real estate agent in Alaska, there are several things you need to know. With the right information, you are able to start your journey towards becoming a real estate agent in Alaska without any delays. There are several important steps in the process, and it is important that you do not miss any of them. When you do this properly, becoming a real estate agent in this state is a relatively seamless process.
Before you become a real estate agent in Alaska, it is important to know the potential for your career. In this state, jobs are expected to grow at a rate of four percent. When you look at how many people are looking into how to become a real estate agent in Alaska, this is solid growth.
The next thing to consider is the income potential. The median income for this job in Alaska is $47,287. However, the top 75 percent of Alaska real estate agents are making an average of $60,000 per year. The lowest one percent are still earning approximately $45,200 per year.
Real estate essentially offers you limitless earning potential, however, what you earn is ultimately up to you. The bigger cities throughout the state tend to have higher housing prices, giving you greater chances at higher commissions with each sale. Because of this, if you want to earn more, selling real estate in a bigger city, especially with a larger population, is a good choice.
To be able to get into a pre-licensing program, you have to first make sure that you meet the minimum requirements to become a real estate agent in Alaska. These include:
- You should be at least 18 years old
- Aspiring agents must either be a US citizen, legally present in the country or considered a permanent resident alien
- Any felonies associated with moral turpitude cannot be present in your criminal background
- In the last two years, you cannot have any history of a real estate application or license getting rejected or revoked
- You must be able to provide without a doubt that you are a resident of a state in the US
- You must have proof that you either earned your GED or high school diploma
Step One: The Prelicensure Program
This is the first step in working toward becoming a real estate agent in this state. Alaska requires that your pre-licensing courses total 60 hours and the course that you choose must be approved by the state.
When you are taking this type of course, you will learn a lot of information about real estate. Common subject areas include:
- Appraisal of real estate
- Principles and practices of real estate
- Finance associated with real estate
- Law associated with real estate
These classes are generally broken down further into smaller segments. Throughout your course, you will undergo testing and other assignments to test your ability to learn and retain the information. Just like any other college course, it is important that you study and that you work to learn every bit of information possible. Remember that you will need to pass an examination to get your license to operate as a real estate agent. Everything you need to know to pass is in your pre-licensing classes.
When you are ready to take your pre-licensing courses, there are a variety of schools that you can choose from. In Alaska, you will find that different physical schools offer this type of course. You can also opt to complete this part of the process online using a program, such as Real Estate Express.
Online courses may be the better choice if you prefer to study alone or you require a little more time to learn and digest the information. Just ensure that any course that you choose is approved by the state of Alaska.
Once you finish your course, you will be provided a certificate of completion. Make sure that you keep this in a safe place before you will need to show it to complete the other steps in the process to becoming a real estate agent. It is also important to have a copy of your transcripts ready so that the state can see that you successfully completed all elements of the program.
Step Two: Take Your Licensure Examination
You will have to go to either Anchorage, Juneau or Fairbanks to take your licensure examination. At these locations, you can expect to pay $100 to sit for the examination. When you arrive for the examination, you must have two forms of identification with you, and one must be issued by the government.
To pass the examination and get your real estate license, you must score at least a 75 percent on the examination. You will get a total of four hours to complete all 130 questions on the examination. The examination is broken down into state-specific questions and those associated with national real estate information. During the national part, there are 80 questions and then there are 50 questions that are specific to the state of Alaska.
Step Three: Apply for Licensure
Once you receive word that you have passed the examination, you should not delay in applying for your license. This part of the process must be done within six months of you successfully completing this examination. You will go to the commission website and follow the steps. Make sure that you submit accurate and complete information so that there are no delays in getting your permanent real estate agent license.
During the process, you will pay the applicable fees. You will need to the license fees and an additional Surety Fund fee. Once your fees are paid and your information is submitted, the state will process your application and if everything is in order, you will be provided with your license.
Step Four: Work for a Brokerage
Once you have your license, you are ready to work as a real estate agent in Alaska. The next most important thing that you do will be choosing a brokerage to work for. First, consider what part of the state that you want to work in so that you can narrow down your options for who to work for.
Now, you want to take the time to really evaluate the different brokerages in the area. First, ensure that the brokerage has a good reputation by doing some research and looking at what both clients and other employees have to say about the brokerage. It is best to read at least a few dozen reviews so that you can get a more complete picture of what the brokerage has to offer.
Now, you want to look at their mission and ensure that it aligns with your goals. You can usually find this information on the website for the brokerage.
The next step is setting up an interview and talking to people from the brokerage in person. Do not be afraid to ask about things like potential benefits, how they structure commissions and if they offer a training period and for how long. All of this will make it easier to determine which brokerage is the best option for you.
When you are working for a brokerage, you will get to learn what it takes to be a real estate agent. You will learn how to function in this role so that you can start getting your own leads and selling properties.
Step Five: Post-Licensing Requirements
Within 12 months of getting your real estate license, the state of Alaska requires that you complete your post-licensing education. You will need to do 30 hours of this, and it includes the following:
- Agreements and contracts
- License law
- Evaluation and pricing
- Property management
- Risk management and paperwork
- Financing and closing
Just like your pre-licensing courses, you must choose one that is approved by the state. If it is not approved by the state, you may not get credit for the hours and you will have to repeat them in order to maintain your license.
After you finish all of the post-licensure requirements, you must submit a post-licensing education affidavit to the Real Estate Commission in Alaska . Any applicable fees should also be paid during this time. The state will review your information to make sure that it is complete. As long as everything is in order, you will be given your permanent license to work as a real estate agent in this state. It is important that you take care of this part of the process as soon as possible after you get your temporary license so that it can be completed in a timely manner.
Now you have all of the details you need regarding how to become a real estate agent in Alaska. Make sure that you follow the steps in order so that you do not miss any of the pertinent details. This will ensure that you check all of the boxes and are not delayed in working in this industry.