There are a lot of steps to becoming a real estate agent, and with each state having its own specific requirements, the process can feel a little bit daunting. No need to worry, we are here to be your ultimate tour guide into the world of becoming a Missouri real estate agent.
Whether you already know the basics about obtaining a Missouri real estate license or you are brand new to the industry, this article will help you feel prepared for the exciting journey ahead.
There are quite a few steps to becoming a Missouri Real Estate Agent, so keep reading to find out what your next steps are and what to expect from each one.
Getting Licensed in Kansas and Missouri
Most Kansas City agents obtain a real estate license in both Kansas and Missouri. If you wish to do this, you must first obtain a license in your resident state. Once you have a license in your state, you can complete additional schooling and training to become licensed in the second state.
If you already have a real estate salesperson license in another state, you must complete the following to obtain an additional license in Missouri:
- Complete the STATE portion of the Missouri salesperson exam
- Complete the 24-hour Missouri Real Estate Practice Course (MREP)
Once those steps are completed, you are ready to submit your Missouri license application.
If your resident state is Kansas, check out our Kansas guide to becoming a real estate agent.
The Real Estate Market in Missouri
Kansas City has been named as one of the top 10 housing markets for buyers to consider, making real estate in both Kansas and Missouri a hot commodity. Kansas City is one of the nation’s fastest-moving large markets, with property sellers typically accepting offers after just four days on the market. The bi-state city’s diverse economy and growing business culture are two of the biggest factors in it’s thriving real estate market.
However, to be truly successful in the Missouri real estate market, you have got to be hard-working, self-motivated, honest, and enjoy helping people. If you check all of those boxes, then it may be time to follow the steps below and start your Missouri real estate journey.
Benefits of getting into Missouri Real Estate
The first benefit is a quite obvious one — the income. According to salary.com, a real estate sales agent in Missouri averages $40,000 to $51,000 per year. These numbers will fluctuate based on commission percentage, number of homes sold, the split with your broker, if you have any caps, and the value of the homes.
For further insight, the average price for a home in Missouri is around $165,000 which means when a real estate agent makes a sale, they have a solid commission — often 6% or $9,900. Over the course of the last 5 years, the average number of homes sold in Missouri is around 69,000.
Aside from gaining a good amount of income, becoming a real estate agent has many other benefits, including:
- Flexibility in your work
- Constantly varying environments and tasks
- Helping people
- YOU are the boss
- Gaining knowledge and insight about people, your community, and your area
Now that you have an idea of what you are walking into, let’s get into the actionable steps that will have you on your way to thriving in the Missouri real estate market.
Do I Prequalify?
There are a couple of things to check on before you can start the process of becoming a real estate agent in Missouri.
The overall requirements of obtaining a Missouri real estate license include the following:
- You must be at least 18 years of age.
Once you have that box checked, you are ready to begin the journey of becoming a Missouri real estate agent!
1. Complete 72 Hours of Pre-License Education
There are a lot of registered real estate schools to choose from across Missouri. Pick whichever one calls to your heart, and complete 72 hours of educational classes. There are both in person and online options available for you.
Missouri pre-license education includes a 48-hour pre-licensing course and a 24-hour Missouri Real Estate Practice (MREP) class. BOTH courses must be completed before submitting your license application.
2. Pass the Course Final Exam
Congratulations! You have made it through your online or in-person classes and are now ready to show your knowledge. In order to pass the exam and earn your certificate, you must receive a passing score of at least 75 percent.
The School Completion Certificate you will receive is valid for six months from the issue date, which means you must complete step four (see below) within six months of passing your course exam.
3. Take and Pass the Missouri Real Estate Licensing Exam
You heard us, another exam. Don’t worry, we are here to prepare you so you know exactly what to expect.
The Missouri Real Estate License Examination is administered by PSI, an outside agency. You can register for the exam online or by telephone. The exam can be canceled and rescheduled without losing your fee as long as you cancel/reschedule at least two business days before the examination date. The cost of the examination is $62.
There are several testing centers throughout Missouri, and you can find the closest one to you by using PSI’s “find a test center” tool.
On the day of your Missouri real estate exam, bring the following:
- Two (2) forms of valid identification
Once inside the exam site, you’ll be asked to place all electronic devices, bulky clothing, and other personal items in a secure location, and you will be asked to sit in front of a computer to take the test.
The 140-question exam will be split between two sections: 100 general real estate questions, which is considered the national portion, and 40 Missouri-specific questions for the state portion. You will have 4 hours to complete both sections.
Some of the topics that will be covered on the exam include the following:
- Property Ownership
- Land Use Controls and Regulations
- Valuation and Market Analysis
- General Principles of Agency
- Property Disclosures
- Leasing and Property Management
- Transfer of Title
- Practice of Real Estate
- Real Estate Calculations
You must receive at least a 70% to become a Missouri real estate salesperson, and the score will immediately be given to you once you complete the exam. If you do not pass, you will have an opportunity to schedule to take the exam again.
For more information on the Missouri Real Estate Licensing Exam, a practice course, and more things to know, check out PSI’s Real Estate Candidate Handbook.
4. Complete the Background Check Requirement
Before submitting your license application, you must submit a set of fingerprints for a criminal history background check. The fingerprinting and background check fee are $43.
The current statewide vendor is IDEMIA (IDENTOGO). You can register to be fingerprinted at the Missouri Automated Criminal History site www.machs.mo.gov or by calling 1-844-543-9712. You will need to provide the Missouri Real Estate Commission’s four-digit registration number, 0004, to register. This will authorize the Missouri State Highway Patrol and the FBI to send the results to the Missouri Real Estate Commission.
5. Submit Your Completed License Application
Phew! You have taken the courses, passed the exams, and are now ready to apply to be a Missouri Real Estate Agent.
The testing center will provide you with a report of your score and any other documentation needed to apply. You can find the application from the Missouri Real Estate Commission. The completed application will likely need to be submitted by mail or hand delivered, along with the $80 application fee.
Make sure to complete this step within six months of passing your exam, otherwise the score and certificate will have expired and you may have to restart the process.
Want to Become a REALTOR® in Missouri?
Every Realtor is a real estate agent, but not every real estate agent is a Realtor. Want to take your business a step further, have great networking opportunities, and be part of an evolving real estate community? Here are your steps to becoming a REALTOR®:
- Obtain your state real estate license
- Join your local REALTORS® Association — The National Association of REALTORS® (NAR) has over 1,400 associations across the U.S. You can find one closest to you with their “find an association” tool.
- Pay the one-time application fee — The amount varies in each association.
- Upkeep NAR membership dues — Once you are a REALTOR®, you must pay the annual association fee of $150 per year.
There you have it! Everything you need to know about joining the bustling world of Missouri real estate.
Now that we have taken you this far, we would love to provide you with more resources and information to help you thrive in this new venture. Get the ball rolling and be the best agent you can be with our Showcase IDX Grow Your Real Estate Business Academy courses.