Do you want to change careers this 2021?
Are you looking for a side job for extra income?
If so, you should definitely consider real estate.
In Missouri, the residential average sales price increased by 21.3% (in April 2021) compared to last year, while the number of properties sold shot up by 26.8%. This demonstrates that it is a growing industry.
If you’re interested, then the first step to becoming a prospering real estate agent is to get a real estate license.
To help you with that, we’ve made a complete guide on how to get a real estate license online in Missouri.
So let’s begin!
Qualifications for a Missouri Real Estate License
You might think that, since the real estate industry is so big, it will be hard to qualify to be an agent. However, that is very far from the truth.
In Missouri, you only need to fulfill 2 qualifications. That is:
Be at least 18 years old
Hold a high school diploma or equivalent (GED)
The 5 Steps to Getting a Real Estate License Online in Missouri
Yes, there are only 5 steps that are required to get a real estate license in Missouri. These are:
Complete 72 hours of mandatory pre-licensing education.
Pass the Missouri real estate exam.
Complete the background check.
Apply for a license.
Choose a sponsoring broker.
Note: though there are only 5 steps, these will require time and dedication.
Read on for a detailed explanation of each of the steps.
Step 1. Complete the required pre-licensing education
In Missouri, new real estate agent applicants must complete 72 hours of pre-licensing education. The 72 hours consist of 2 courses.
The first one is a 48-hour pre-exam course, which you can take in a classroom or online. You must pass the final course exam before you can take the Missouri real estate exam.
The second course completes the remaining 24 hours. This course pertains to Missouri Real Estate Practice classes, which provide practical business knowledge on topics such as real estate agency, contracts, forms, finance, valuation, and closing.
Note: you have the option to take this 24-hour practice course AFTER the Missouri real estate exam.
Looking for a reliable online real estate school?
Below are two of the best schools that offer Missouri real estate pre-licensing packages:
Real Estate Express has been around for decades, and it is no doubt one of the most popular online real estate schools in terms of reputation and quality of education. The school is known for its thorough coursework that is continuously updated to ensure all the information is correct and current.
With Real Estate Express, you can either choose from a self-paced pre-licensing course package or a Livestream bundle. The self-paced program lets you study whenever and wherever you want, while the latter allows you to join live online classes attended by other course takers.
Whether you are a self-sufficient learner or a collaborative student who prefers to have some interaction with mentors and fellow students, Real Estate Express has got what you need.
MBitionToLearn is another top online real estate school that has existed for many years. It is best known for its interactive course materials that make learning more fun and interesting for aspiring real estate agents. It also offers useful study and practice guides that help you remember what you learned.
Currently, MBitionToLearn only offers the 48-hour pre-examination course. As soon as you complete it, you will instantly receive a downloadable course completion certificate.
Step 2. Pass the Missouri real estate exam
Once you are ready to take the licensing exam, you can book a schedule with the PSI. The PSI administers the licensing exam for Missouri and accepts registration online and via a phone call.
To schedule your exam online, simply go to the PSI website and follow the instructions.
You may also schedule an exam appointment over the phone. Call PSI at 888-818-5829, and be prepared to provide personal information such as your full name, social security number, address, date of birth, etc...
Have your credit card ready as well. The exam fee is $65 for both portions of the exam.
The Missouri real estate exam consists of two segments. The national portion contains 100 questions, while the state portion has a total of 40 questions.
You will have 4 hours to finish both exams. The passing scores for the national and state-specific options are 70% and 75%, respectively.
Your passing score report will contain instructions on how to apply for a salesperson license.
For more information on the licensing exam, refer to the candidate handbook.
Step 3. Complete the background check
All new applicants for a Missouri real estate license need to undergo a background check and fingerprinting requirement. To start this process, you must contact IDEMIA (Identogo).
First, you need to register with the Missouri Automated Criminal History Site (MACHS) via their website. Then, provide the Missouri Real Estate Commission’s registration number (0004) to authorize the state’s highway patrol and the FBI to send the background check results to the commission.
Afterward, you will find a list of fingerprinting locations where you are to take your prints. You will need to bring a photo ID.
The fingerprinting process takes around 10 minutes, and it will cost you $40.50.
Step 4. Submit your application for a license
Within six months of passing the licensing exam, you must submit your application to the Missouri Real Estate Commission. You can find the application form on their website. The instructions on how to apply for a license are written on the backside of your passing score report.
For questions regarding your application, you may send an email to email@example.com or reach out to the Commission at the following address:
Missouri Real Estate Commission
3605 Missouri Boulevard
P.O. Box 1339
Jefferson City, MO 65102
Step 5. Choose a sponsoring broker
The last step is to find employment with a broker or a brokerage firm. This is because to start working as a real estate agent in Missouri, you need to be affiliated with a broker first. If you decide you want to work on your own later on, you can then begin working toward your broker license.
Note: make sure you choose a sponsoring broker that matches your needs and preferences. Since you are going to work under them, you need to take time to pick the best one for you.
Real Estate License in Missouri FAQs
Is online real estate school better than in-person classes?
We each have different preferences when it comes to learning, but overall, online real estate school is better than traditional in-classroom education. Not only will it help you save some money on course fees, and needless to say transportation costs, but it will also offer flexibility when it comes to making time for studying.
With an online real estate school, you get access to everything with just your computer or smartphone, which means you can study anytime, and anywhere. You won’t have to stick to strict schedules and sit in class for hours. You can spend as little or as much time studying as you want every day.
How much does an online real estate course cost in Missouri?
At Real Estate Express, a self-paced pre-licensing education package costs from around $175 to $350, while the Livestreaming bundle for the practice classes costs about $350.
At Mbition, the 48-hour self-paced course will set you back around $220 to $290.
Those are just 2 schools, but the rest are around that price range.
How long does it take to become a real estate agent in Missouri?
The entire process can take three to six months, maybe less if you prepare a dedicated schedule and plan things.
You can complete the pre-licensing course in two weeks. The other steps don’t take much time either, except for the background check, which could take a couple of weeks.
A career in real estate is financially rewarding.
Starting may require lots of time, dedication, and even money, but the benefits you will reap will be far more than enough to recover what you invest in.
Also, being a real estate agent is a stable job as the demand for real estate property is expected to keep increasing.