Ferguson Real Estate LLC School

Ever thought about becoming a realtor? Here at The Ferguson Team, we can provide the schooling you need to get there! Carol has now opened her own real estate school accredited through the MREC and teaches the 48-hour salesperson course and the 24-hour Missouri Real Estate Practice Course that are both required to achieve a license in Missouri. For more information on this great opportunity, contact Carol Ferguson at 417-629-8881 or at our office at 417-659-7591.

FAQ:

What schooling is required?

Missouri requires 48 classroom hours before you can sit for the salesperson’s test and you must be at least 18 years old. After passing the Exam, Missouri requires 24 additional hours before applying for the license.

Who gives the test?

Applied Measurement Professionals (AMP) for testing. AMP is located Springfield and Kansas City. The tests are given every day of the week and every other Saturday of each month, and in several other locations in Missouri.

What is covered on the test?

The test is broken up into two parts: Part 1 covers general laws and principles that would be applicable across the entire United States and, Part 2 which covers questions that would only apply to your home state. The general section has about 100 questions and the state about 40.

What is the difference between a salesperson’s and a broker’s license?

A broker acts like an employer; i.e. a broker hires salespersons to represent the broker in making sales. A salesperson can only work for one broker at a time.

Do I have to have a real estate brokerage company hold my license?

Yes, after you have passed the test, you can apply for license. A licensed broker must sign the application and agree to supervise you.

Can I skip the salesperson stage and become a broker immediately?

No. All candidates for a broker’s license Missouri must have worked as a real estate licensee for two years prior to applying for a broker’s license.

How much will it cost me to get a real estate license?

There are a number of costs in getting licensed. Fortunately, you don’t usually have to pay them all at one time. Below is a list of typical costs:
$450pre-exam course and the Missouri Practice Course.
$52test fee (to testing service)
$90license fee (to state of Missouri)
$40.30—Background check and fingerprinting by the Missouri Highway Patrol

Additionally, there are other up-front costs that you may incur The remaining costs that you will incur before you can sell or list your first property vary depending on the time of the year you obtain your license due to the proration of some fees. The total cost of from the time you pay for your school to the time you place your license with a broker and begin listing and selling is typically around $1000 to $1500. Just like any other business, there are other on-going costs that you will incur. (Check with your us about other costs that are not listed here).

How much money can I expect to make?

Unlike most businesses, real estate agents are self-employed and work on 100% commission. As a general rule, the more you sell, the more you make. Note that it often takes a month or up to several months after getting a license to make a sale, close the sale and receive payment. People going into real estate need to plan for this. Agents’ businesses grow at different rates depending on the skill of the individual.

Does the pre-license class do a good job of teaching me how to be a real estate agent? Actually, it does not. The real life training comes after you have placed your license with a broker. It is their choice as to how you are trained. Different companies have different ideas about this and vastly different levels of proven success with their training programs. The training you receive from your broker coupled with the environment in the office should be your two most important criteria when looking for a broker that suits you. Both of these are critical to your success and largely ignored or under-investigated by agents fresh out of real estate school. Keller Williams was named as the Number 2 training company of any kind in the world by Training Magazine.