Indiana is frequently thought of as the gateway state between the eastern and western parts of the country. But I think that for people who choose to make a home and a life there, it’s a state that has a lot to offer, even if it doesn’t appear as frequently in television and movies as other places like Florida or California. There’s a hardworking, prosperous population in Indiana that is going to continue to grow as children mature and start their own families, or new residents come in from out of state, or even out of the country as new Americans. All of these people will require new places to live or do business in, and that means they’ll need property.
I’m in the property market professionally, and I think if you live in Indiana and you’re looking for a change in your career, maybe you should think about getting a real estate license in Indiana and getting into this business yourself. But what do you have to do to get your real estate license in Indiana? I’ll explain that now.
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Before anyone commits too much time and energy to getting a real estate license in Indiana, it’s time for a quick reality check. Not every profession is suitable for every person, and real estate is the same. Some people are amazing musicians but poor lawyers. Some people are born to teach, but shouldn’t be trusted with nursing an animal back to health. And some people may like the idea of working in property, but may not have the personal characteristics or understanding required to succeed in this field.
The biggest difference between other, typical jobs and real estate is that real estate pay works on a commission basis. This is a very important fact that you need to think about, as a professional in the real estate industry, you cannot plan for, or rely on a steady “paycheck” that gives the same fixed amount every month. If you need predictable, plannable financial stability, this is not the right line of work for you. It means that some months, you may make very little, or maybe even nothing at all, only to hit a windfall of deals on other months that can make you more money in that month than you would have seen in a year in an ordinary job.
Getting a real estate license in Indiana also means not keeping regular office hours, which, to some people sounds great. In reality, it means having to organize your own working hours, making sure you are doing your own marketing and promotion and ensuring that meetings with clients go smoothly, even if they need to conduct business in the evening. In many ways, getting a real estate license in Indiana and working in this industry will mean you work harder and longer than you would at a normal, salaried job. But it also means the rewards are all yours. If that sounds like something you’d be interested in, then you meet the personal requirements, and can start more seriously thinking about the actual legal and professional requirements to getting a real estate license in Indiana.
A real estate license in Indiana is required because this is a job where a professional is tasked with handling deals involving tens of thousands, hundreds of thousands or even millions of dollars depending on the type of real estate purchase taking place. Being involved in deals of this scale requires someone with government verified credentials, and that is the real estate license in Indiana. In order to get this license, you will need to write and pass an exam.
The material for passing this exam must be provided by a real estate school that is approved by Indiana and legally obligated to provide to teach the information needed for state transactions. This is an important distinction to make, especially for people that may be thinking of going with online schools such as Real Estate Express, or Career Webschool. Just because a real estate schools is available online, and you can see it on your computer or phone, that does not automatically guarantee that the school is approved to teach you what you need for a real estate license in Indiana. Some schools, despite being online, will only be legally valid for a few states, such as California and/or Texas. Ensure the school that you’re interested is actually valid for Indiana.
A typical instructional period for a real estate license in Indiana is about 90 hours, and is referred to as a broker pre-licensing course. These classes can be either be taken at physical classrooms, requiring you to drive down and attend the class on a fixed schedule, or, if your current commitments don’t allow that, study the material online.
Once you’ve taken the classes, it’s time to write the exam. If you pass the exam, you will then be issued your license. However, your journey is not over yet!
Now that you have your real estate license in Indiana, you still need to find a partner or ally in the form of an established real estate managing broker. Indiana prefers that people who have a license now get good, useful field experience from people that already know and understand the industry. So despite the fact that you will be doing your own work, with your own clients, you will need to be affiliated with a licensed managing broker. Once you’re affiliated with a broker, you can start working!
At some point, once you’ve got your real estate license in Indiana and are working, you may also consider getting your own broker license so you can work with others. This will require more study and a separate broker’s real estate license in Indiana that you will need to apply for by taking classes and passing an exam. You’ll have plenty of options for figuring out which direction to take your career in once you’ve gotten your real estate license in Indiana. Make the most of the opportunities you find and create for yourself!
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