How To Become A Real Estate Agent in Vermont
Working as a real estate agent comes with many advantages. Many agents who decide to start their journey of becoming real estate agents in Vermont start on the quest to build a business that offers more of a flexible schedule.
Others want to simply break the glass ceiling and enter a career that rewards them for all the hard work and effort they invest into it. If you are tired or feel stuck in an unrewarding job now might be the perfect time to chase your goals and become a real estate agent.
Do you have what it takes to work as a Vermont Real Estate Agent? If yes, let’s dive into the basic steps of getting your real estate license in Vermont.
How To Become A Real Estate Agent In Vermont
⦁ Must be at least 18 years old.
⦁ Must be a resident of Vermont.
⦁ Complete a 40 hours real estate pre-licensing course.
⦁ Pass the final exam.
⦁ Pass the Vermont Real Estate Exam with a 75% score or higher.
⦁ Pick A Sponsoring Broker.
⦁ Submit your license application.
Choose Your School And Sign Up For Classes
Before you can start listing million dollar homes the very first step toward getting your Vermont License is choosing your classes and completing the mandatory educational requirements set by the state to become a real estate agent.
Vermont Real Estate Classes
Get ready for some classroom time! To become a licensed real estate agent in Vermont you must first complete your state’s mandatory education requirements. In total, you will be required to complete 40 hours of state approved courses for pre-licensing.
Click here for state approved real estate classes and pricing. The good news is that the state of Vermont allows you to take a portion of your real estate classes online. This is great because it will allow you to complete the course at your own pace and even possibly speed up the process if you put in the hard work.
In Vermont, there are 40 hours of pre-licensing courses that a participant must complete. These are state verified courses that an applicant completes and afterwards, they should pass the final exam. From these 40 hours, 8 hours courses are mandatory.
Vermont Pre-licensing Education Requirements
To get the pre-licensing courses in Vermont, you must be 18 years old or above. You must be a Vermont resident and have completed 40 hours of education.
Keep in mind you must score a 75% or higher on each final exam. So, it is important to pay close attention in class.
What Will I Learn In My Pre-License Classes?
I remember sitting in my real estate pre-licensing class. For many, real estate is like learning an entirely new language. In class, you will learn many new things. One of the most important being state laws as they relate to you as a real estate agent. This will help keep you out of legal trouble once you get out in the field and start practicing real estate. Here are some subjects you will learn about in real estate school.
⦁ Real estate math
⦁ Land use laws and regulations
⦁ Fair Housing laws
⦁ Real Estate Financing
⦁ Contracts
⦁ Transfer of title
⦁ Brokerage relationships
⦁ Disclosures
⦁ Property analysis
⦁ Rules of the Vermont Real Estate Commission
⦁ License law
⦁ Ethics
⦁ Agency Laws
To become a licensed real estate agent in Vermont you must first complete your state’s mandatory education requirements. In total, you will be required to attend 40 hours of state approved courses for pre-licensing.
Schedule Your Vermont Real Estate Salesperson License Exam
In Vermont, your real estate exam will be taken with PSI Exams. It is recommended you call and schedule with a customer service representative. Here are a couple of important things to know.
⦁ This test can be taken by computer at the testing center.
⦁ This is not an open book test.
⦁ The test must be scheduled at least one day in advance.
Current PSI Test Locations in Vermont: Testing Locations
Vermont Real Estate License Background Check
Any person applying for a Vermont real estate license can be fingerprinted and pass a background check. The current cost is $51 for the background check and $20 for the fingerprint card.
However, someone with a criminal background or who has some crime committed in the past can be a real estate agent in Vermont.
It will depend on the nature and intensity of the crime. Also, it will depend on how long he’s been committing it and how long he has given up.
It would be best to submit any existing criminal history with the required documents.
The FBI and DCJIS (Division of Criminal Justice Information Systems) will check your application and accept the application on merit.
What Is The Best Way To Study For The Vermont Real Estate Exam?
Many people fail the Vermont real estate exam the first time around. This is ok. Many of the great real estate agents having huge success today failed their exams the first time around. The bad news is that it costs money to retake your exam. At the time of writing it is $55 to take the Vermont Real Estate exam.
To increase the chances of passing your exam the first time we recommend checking out Prep Agent. This study tool gave me and many other agents a huge boost in confidence when taking the real estate exam.
In fact, Prep Agent is so confident in their study tool that they offer a 100% refund if you use the tool and fail your real estate exam.
What Do You Need To Bring When Taking The Exam At A Testing Center?
Don’t show up on test day only to be turned down. You will need to bring two forms of identification that have not expired and have a matching name and signature. One form of identification must have a photo to qualify. Here are some examples of acceptable identification.
⦁ Drivers license
⦁ US social security card
⦁ Passport
⦁ Debit Card with Signature
⦁ Credit Card with Signature
⦁ Green Card
You are allowed to bring a basic non-scientific calculator that can be used for the math portion of the exam.
How Long Will I Have To Complete The Vermont Real Estate Exam?
The exam consists of two portions. One is the National portion and the other is the State specific portion. Both of them are intermixed into one exam. So for both of them, a total of 4 hours is allotted.
Number of Questions on Salesperson’s License Exams:
National – 100 questions
State – 36 questions
Total – 136 questions
All of these are multiple choice questions, meaning you have to choose the correct answer from four options. So, for 136 MCQs, you will have 240 minutes. Some people even complete their exams early. Do not stress you have 4 hours to focus and get this done.
Pass Or Fail- How Long Does It Take To Get Results?
Taking the real estate exam can be nerve racking. Once complete we all become anxious and want to know if we passed or failed the big test. The good news is that you will know the results immediately after you complete your exam.
Can I Retake The Real Estate Exam If I Fail?
Yes, If you fail you can retake the real estate exam. First, you must submit a new registration form and the $55 testing fee to schedule to take the test again.
But stay positive, many agents have failed the real estate exam multiple times and have gone on to have very successful careers.
How Long Does It Take To Become A Licensed Real Estate Agent In Vermont?
I am sure you are excited and want to get licensed ASAP. You should expect the process to take about 4 to 5 months to become a Vermont Real Estate Agent. The two most time intensive parts of the process are completing your 40 hours course of pre-licensing education and clearing the 136 questions exam with at least 75%.
Aside from just completing your real estate classes and studying you will need to spend your time doing other important things like interviewing brokerages and deciding which one is the right fit for you and your new business.
This is just an average timeframe. Keep in mind everyone works at a different pace. If you are taking some of your courses online you may be able to work through the course work a little faster or maybe it takes you a little more time to get through the course work.
Either way try not to overwhelm yourself and focus on getting a little further along in the process each day. Many people set out on the journey to become a Vermont agent and quit before they even start because they simply overload themselves with work. Keep the focus on working toward your goal little by little each day.
How Much Does It Cost To Get A Vermont Real Estate License?
It will cost around $344-$619 to get your Vermont Real Estate License. Some of these costs are fixed such as the fingerprinting and exam fee.
⦁ $51 ⦁ fingerprint fee
⦁ $55 for Vermont Sales Associate exam fee
⦁ $40 for Realtor Board Dues
⦁ $249-$459 for Pre-License Courses
⦁ $50 for License Application
Total Vermont Real estate license cost estimate $445
Sign up for Vermont Real Estate Classes Here: Real Estate Express
Note: These are just averages and are subject to change at any time.
Does Vermont Have Reciprocity With Any Other States Regarding A Real Estate License?
Unfortunately, Vermont doesn’t have any real estate reciprocity with any other state. But you can waive the educational requirements by showing your work and license type to the Office of Professional Regulation in Vermont.
How To Choose The Right Brokerage?
Selecting your broker is a business choice that we all have to make at some point in our careers. As a new agent, you likely do not know what to look for or what questions to ask. As an experienced agent who has worked at multiple offices here are some things to consider.
Training: This is important. One of the biggest complaints I hear from new real estate agents is how lost they often feel. Many times they feel the brokerage they choose to partner with has poor mentorship or even worse no mentorship at all. When interviewing brokers it is important that you ask if they have a mentorship program in place for new agents. If the answer is yes make sure you dig deeper and ask how the program works. What are the expectations for the new agent and what are the expectations for the mentor? You need to find out how much support and training they actually provide.
Splits: Every brokerage offers a different compensation model and as a new agent this is important to consider. However, do not make this your main focus. I see many new agents make commission splits the main reason they choose a brokerage. This can be a huge mistake. Focus on what kind of value and training is being offered for that split. The harsh truth is that 100% of nothing is still nothing.
Ongoing monthly fees: Some brokerages charge monthly fees to stay a part of the company. This is something to consider if you have a small savings account. As a new agent, you might be looking to stretch your dollar until you get a couple of closings under your belt. Joining a company with high ongoing monthly fees can put a dent in your savings account.
Commission Cap: This is in the same boat as commission splits in my opinion. As a new agent, this should not be your main focus. You should be focused on support and training. However, as a business person, it is a question you should be asking. Some brokerages will cut off your commission fees once you “cap”. Every brokerage and market is different but on average we have seen the brokerage cap between 14k-21k. Once you pay that amount into the brokerage your commission will shift to 100% in some cases with a small broker transaction fee.
Conclusion
Becoming a real estate agent in Vermont is something worth working towards. To make this all happen it is going to require work and consistency but if you love the idea of selling homes in Burlington, Essex, or any other city in Vermont it is worth all the effort and hard work to make your dream become a reality. Study hard and do not quit even if you fail your exam the first time around. Many of the greatest agents I know today in my local market did not pass the exam the first time around.