I'm just beginning my search for a real estate career.
• What does it take to get into RE? ANSWER
• Where are the nearest licensing schools? ANSWER
• What are the costs associated with entering RE as a new career? ANSWER
• What costs you will cover to help agents get started? ANSWER
• Loands and grants ANSWER
What does it take to get into RE?
The South Dakota Real Estate Licensing Process
Candidates for a Broker Associate License must:
- Complete the “Real Estate Principles and Practices” course (100 hours) at a state approved school, including passing the final exam.
- Pass the state exam with a score of at least 75% on each of the two sections:
- State section – 40 multiple choice questions on South Dakota laws, rules and regulations
- Uniform or National section – 100 multiple choice questions covering real estate fundamentals.
The state exam is given each day (Monday – Friday) in Rapid City by appointment. Normally, appointments must be made about one week in advance of the test date. There is a $130.00 examination fee. The exam may be repeated (with the same fee) should a candidate not pass.
After passing the state exam, the candidate must submit an “Application for Real Estate License” together with an application fee of $225.00 to the SD Real Estate Commission within 60 days of passing the exam.
Upon approval of the application, the candidate will receive an inactive license. The license will be activated when the licensee associates with a brokerage company.
Where are the nearest licensing schools?
Dakota West Institute, 1145 N. Main, Spearfish, SD 1-605-787-4747 or 1-605-717-2501
What are the costs associated with entering RE as a new career?
Tuition for Dakota West is $900 and required books are $100.
After passing the state exam, the candidate must submit an “Application for Real Estate License” together with an application fee of $225.00 to the SD Real Estate Commission within 60 days of passing the exam. Once your license has been activated there is an annual local Board of Realtors fee of $582.00; then monthly fee of $36: Liability insurance will run about $140.00 per year. Total outlay approximately $2077 to start your career in real estate.
What costs you will cover to help agents get started?
- Office Space
- Phone and Internet
- Stationery
- Business Cards
- Satellite Training Network (home use available)
- Your First 5 signs
- Scholarship to 100 Days to Greatness Program value at $495.00 with signed agreement with RE/MAX GOLD.
- RE/MAX GOLD offers those who qualify a NO interest loan program to help defray upfront costs. See Grants and Loans
- RE/MAX GOLD has available salaried assistant programs for new agents coming into the business. As a new agent you are placed on a monthly salary and work under the Broker or a more experienced agent to learn how to become successful. These assistant positions are available to qualified applicants and are limited in number. Inquire by calling John or Terri Keene – 717-1544.
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- To help those individuals having a high desire to chose a career in real estate but have limited funds John and Terri Keene, Broker Owners, have available to qualified candidates five NO interest loans of $500, $1000, $1500, $2000 and $2500. Repayment schedule begins once an agent has reached 12 transactions or $15,000.00 in commissions which ever comes first.
- Also available are two Grants for education each worth $500 each. One is for enrolling in the 100 Days of Greatness program and the other is to be applied to either Richard Robbins Ignite program or one of Howard Brinton’s Universities.
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