Embarking on a career in real estate in Georgia can be both exciting and financially rewarding. However, before you can start selling properties, you must obtain a real estate license. The cost of getting a real estate license in Georgia involves several components, including pre-licensing education, exam fees, and other associated costs. In this article, we’ll break down the various costs associated with obtaining a real estate license in Georgia to help you budget and prepare for your new career.
Breakdown of Real Estate License Costs in Georgia
1. Pre-Licensing Education
Cost: $300 – $600
Details: In Georgia, aspiring real estate agents are required to complete 75 hours of pre-licensing education from an approved provider. The cost of these courses can vary widely based on the provider and the format (online or in-person). For instance, online courses tend to be more affordable, while in-person classes may be more expensive.
2. Exam Fees
Cost: $121
Details: After completing the pre-licensing education, you must pass the Georgia real estate licensing exam. The exam fee is $121, and this fee covers the cost of both the national and state-specific portions of the exam. Additionally, if you need to retake the exam, you will have to pay this fee again.
3. Application Fees
Cost: $170 – $195
Details: Once you pass the exam, you’ll need to submit an application for your real estate license. The application fee for an original salesperson license is $170 if you apply within 90 days of passing the exam. If you apply between 90 days and 12 months after passing the exam, the fee increases to $195.
4. Background Check and Fingerprinting
Cost: $50 – $60
Details: Georgia requires a background check and fingerprinting as part of the licensing process. The cost for this typically ranges from $50 to $60. This step ensures that applicants meet the ethical standards required for real estate professionals.
5. Post-Licensing Education
Cost: $100 – $200
Details: Georgia requires new licensees to complete a 25-hour post-licensing course within the first year of obtaining their license. This can add an additional $100 to $200 to your total costs. Completing this education is crucial to maintaining your license.
6. License Renewal Fees
Cost: $125 every four years
Details: Real estate licenses in Georgia must be renewed every four years. The renewal fee is $125. Additionally, you must complete 36 hours of continuing education during each renewal period.
Additional Costs to Consider
1. Membership Fees
Cost: $200 – $500 per year
Details: Many real estate agents choose to join professional organizations, such as the Georgia Association of Realtors (GAR) and the National Association of Realtors (NAR). Membership fees can range from $200 to $500 annually. Membership often provides valuable networking opportunities and resources.
2. Errors and Omissions Insurance
Cost: $200 – $500 per year
Details: This insurance protects real estate agents from potential legal claims and lawsuits. It is often required by brokerages and can cost between $200 and $500 per year. As a result, it provides peace of mind and financial protection. you can read more about What Is Errors and Omissions Insurance?
3. Marketing and Business Expenses
Cost: Varies
Details: Starting a real estate career involves marketing yourself and your services. This can include business cards, signs, advertising, and other promotional materials. The cost can vary widely based on your marketing strategy. Investing in marketing can significantly boost your client base.
Total Estimated Costs
When all the costs are added up, the total cost to obtain a real estate license in Georgia can range from $800 to $1,800 or more, depending on your specific circumstances and the choices you make regarding education providers and additional services.
Obtaining a real estate license in Georgia involves several steps and associated costs. By understanding the breakdown of these costs, you can better prepare and budget for your journey into the real estate industry. While the initial investment can be significant, many find that the potential earnings and career opportunities in real estate make it a worthwhile investment. Consequently, starting your real estate career can be a fulfilling and profitable endeavor.
How Much Does a Real Estate License Cost in Florida?
For more insights and tips on starting your real estate career, visit our blog, RealEUC. Don’t forget to follow us on Facebook and Pinterest for regular updates and helpful advice!