How to Get Your Missouri Real Estate License
Embarking on your real estate career in Missouri may feel overwhelming at first, but with the right steps, it becomes a clear and attainable goal. This thorough guide is designed to take you through each vital phase, ensuring you’re well-prepared to start your journey as a licensed real estate agent in the Show-Me State. Let’s dive into the process that will set you on the path to success in Missouri’s real estate market.
We'll walk you through 6 easy steps
Understand the Basic Requirements
Before we dive into the detailed process, it’s important to grasp the fundamental requirements for earning a real estate license in Indiana. Here’s what you need to know:
Age Requirement
To qualify for a real estate license in Missouri, you must be at least 18 years old. This ensures that applicants possess the necessary maturity and legal accountability for a career in real estate.
Residency and Identification
Missouri does not require you to be a resident to apply for a real estate license. However, you must have a valid Social Security number, which is essential for conducting background checks and ensuring compliance with state regulations. Non-residents are subject to the same standards as Missouri residents.
Honesty and Integrity
Ethical behavior is paramount in the real estate industry. The Missouri Real Estate Commission requires all applicants to undergo a thorough criminal history background check, including fingerprinting. Any criminal record could result in the denial of your application, but being upfront about any past issues and demonstrating rehabilitation can improve your chances of approval.
Step 1: Take a Real Estate Pre-Licensing Course
In Missouri, aspiring real estate agents must complete 72 hours of pre-licensing education. This course is structured to provide comprehensive coverage of essential topics, thoroughly preparing you for the licensing exam and your future career in real estate.
Course Breakdown (72 hours)
The Missouri pre-licensing course includes detailed instruction on critical areas of real estate. The curriculum focuses on state-specific laws, real estate finance, agency principles, and property transactions, ensuring you have the necessary knowledge to succeed in the field.
Real Estate Principles and Practices - 48 Hours
This core module introduces you to the fundamental principles and practices of real estate. You’ll explore topics such as property rights, land use, contracts, and the role of a real estate agent, all tailored to Missouri’s unique market requirements. This foundational knowledge equips you with the skills needed to thrive in Missouri’s real estate landscape.
Missouri Real Estate Law - 24 Hours
This segment focuses on Missouri-specific real estate laws, covering topics like civil rights, housing discrimination, and key federal legislation, including the Fair Housing Act and Equal Credit Opportunity Act. You’ll gain a deep understanding of how these laws apply within Missouri, preparing you to navigate both state and federal regulations effectively.
Choosing the Right Real Estate School
Selecting the right real estate school is crucial. Look for accredited schools that offer flexibility, especially if you have a busy schedule. Online courses can provide the convenience of studying at your own pace.
Research and Reviews:
Start by researching various real estate schools and reading reviews from past students. Look for schools with high pass rates for the real estate exam and positive feedback on their teaching methods.
Online vs. In-Person:
Decide whether you prefer online or in-person classes. Online courses offer flexibility and convenience, allowing you to study at your own pace. In-person classes provide direct interaction with instructors and peers, which can enhance your learning experience.
Course Materials and Support:
Evaluate the course materials and support services provided by the school. High-quality textbooks, interactive lessons, and access to instructors for questions can significantly impact your success. Some schools also offer additional resources like exam prep courses and study groups.
Study Tips
Daily Study Schedule:
Create a daily study schedule that covers all exam topics, ensuring regular review sessions. (Asana provides a great FREE task manager)
Flashcards:
Utilize flashcards for key terms and concepts to enhance memorization. (These Quizlet Flashcards may be helpful)
Practice Tests:
Regularly take practice tests to gauge your understanding and get familiar with the exam format. (Free Missouri Real Estate Practice Exam)
Step 2: Submit Your Missouri Real Estate License Application
After completing your pre-licensing education, the next essential step is submitting your license application to the Missouri Real Estate Commission (MREC).
Steps to Submit Your Application
Complete the Application Form: Visit the Missouri Real Estate Commission (MREC) website to access and fill out the application form. Make sure all information is accurate and complete.
Gather Required Documents: Prepare all necessary documentation, including your Certificate of Completion for the pre-licensing courses, proof of identification, and any additional forms required by the MREC.
Submit Your Application: Submit your completed application and all required documents via mail to the Missouri Real Estate Commission. Ensure that everything is in order before mailing to avoid delays.
Pay the Application Fee: Pay the required application fee, which is typically $90. This fee can be paid by check or money order, and must be included with your mailed application.
Application Processing Time
The Missouri Real Estate Commission will typically take a few weeks to process your application. During this period, they will verify your educational credentials and ensure all requirements have been satisfied. To prevent delays, double-check your application and documents before submission.
Tracking Your Application
While Missouri doesn’t offer an online tracking system like some states, you can contact the MREC directly to inquire about your application status if needed. Staying proactive in checking your status can help you quickly resolve any issues that might arise.
Step 3: Pass the Missouri Real Estate Exam
The Missouri Real Estate Exam is a comprehensive test that evaluates your knowledge of both general real estate principles and Missouri-specific laws. The exam consists of two portions—national and state—with a total of 140 multiple-choice questions. To pass, you need a score of at least 70% on the national portion and 75% on the state portion. If you do not pass on your first attempt, you will need to reschedule and pay the exam fee of $62 for each attempt.
Salesperson Examination Content
General Real Estate Principles
Agency Relationships and Contracts: Covers the principles and practices related to agency agreements, fiduciary responsibilities, and contract law in real estate transactions.
Marketing Regulations (purchase and rental): Focuses on the legal aspects of marketing real estate, including compliance with advertising laws and regulations governing the sale and rental of properties.
Property Management: Deals with the management of rental properties, including leases, landlord-tenant relationships, and the handling of property maintenance and finances.
Real Estate Valuation and Financing
Real Property Ownership/Interest: Discusses the various types of property ownership, rights, and interests, including freehold and leasehold estates.
Finance: Covers the financial aspects of real estate transactions, such as mortgages, loan types, interest rates, and financing methods.
Real Property: Encompasses the physical and legal characteristics of land and buildings, zoning laws, and property use regulations.
Real Estate Calculations: Focuses on the mathematical calculations involved in real estate, such as determining property values, mortgage payments, and commission structures.
State Portion
The Real Estate Commission: Oversees the licensing and conduct of real estate professionals in Missouri, ensuring compliance with state laws and ethical standards.
Licensure: The process of obtaining and renewing a real estate license in Missouri, including education, examination, and background checks managed by the Missouri Real Estate Commission.
Regulations of Licensee Conduct: Legal and ethical standards that Missouri real estate professionals must follow, including proper advertising, client fund management, and disclosure obligations.
Regulation of Agency Conduct: Rules governing how real estate agencies operate in Missouri, focusing on ethical transactions, client responsibilities, and compliance with MREC regulations.
Preparation Tips
Review Course Materials:
Go over the textbooks and notes from your pre-license courses. Revisiting these materials can reinforce your understanding of key concepts. Focus on areas where you feel less confident to ensure a well-rounded preparation.
Practice Exams:
Take as many practice exams as possible. This helps you get familiar with the exam format and identify areas where you need more study. Practice exams can also help you manage your time effectively during the actual test. (Free Ohio Real Estate Practice Exam)
Study Groups:
Join or form study groups. Discussing topics with peers can enhance understanding and retention. Study groups provide a platform to share knowledge, ask questions, and support each other.
Exam Prep Courses:
Consider enrolling in an exam prep course for additional support and structured study. These courses often include practice exams, study guides, and expert instruction. Investing in a prep course can increase your chances of passing the exam on the first attempt.
Exam Day Tips
Arrive Early:
Ensure you arrive at the exam center early to avoid any last-minute stress. Arriving early gives you time to settle in and focus before the exam begins. Check the location and travel time in advance to plan your journey.
Bring Required Identification:
You’ll need a valid photo ID to enter the exam. Make sure your ID is current and matches the name on your application. Having all necessary documents ready can prevent any issues at the exam center.
Stay Calm and Focused:
Read each question carefully and manage your time wisely. Staying calm and composed can help you think clearly and avoid mistakes. Take deep breaths and stay positive throughout the exam.
Exam Room Etiquette:
Follow all instructions given by the exam proctors. Adhering to the rules ensures a smooth and fair testing experience for everyone. If you have any questions or issues, ask the proctors for assistance.
Step 4: Complete the Fingerprinting Requirement
After passing the Missouri real estate exam, the next step is to complete the fingerprinting requirement as part of the mandatory criminal background check. This step ensures you meet the integrity and honesty standards set by the Missouri Real Estate Commission (MREC).
How to Get Fingerprinted
Do not schedule your fingerprinting until you have completed the pre-licensing education and passed the state exam. Ensure all necessary documents are in order before proceeding with fingerprinting.
Once ready, schedule your fingerprinting appointment through IdentoGO, the approved provider for Missouri. You can do this online by selecting Missouri and choosing “Digital Fingerprinting.” During registration, you will need to enter the service code provided by the MREC.
On the day of your appointment, bring a valid form of identification, such as a driver’s license, state ID, or passport. The fingerprinting process will electronically capture your fingerprints and submit them to the Missouri State Highway Patrol and FBI for processing.
The cost for fingerprinting in Missouri is approximately $40.50, which is paid during the scheduling process.
The MREC will conduct a background check using your fingerprints to verify that you meet the required ethical standards. If any concerns are identified during this check, you may need to provide additional documentation or resolve issues before your license can be issued
Addressing Background Check Issues
If any issues arise during the background check, you may need to provide additional documentation or explanations. Being upfront about past incidents and providing thorough documentation can positively influence the outcome. If you have concerns, consider consulting with legal counsel to navigate the process.
Step 5: Submit the Salesperson License Application
After completing your exam and fingerprinting requirements, the final step is to submit your Salesperson License Application to the Missouri Real Estate Commission (MREC) to confirm your eligibility.
Application Checklist
Complete Indiana Application Form
Fill out the Salesperson License Application form available on the Missouri Real Estate Commission’s website. Ensure that all sections are accurately completed. The form can be accessed and submitted online or mailed to the MREC office.
Attach Exam Results:
Include proof that you passed the Missouri real estate exam. This documentation is necessary for the MREC to verify your eligibility. Keep a copy of your exam results for your records.
Include Fingerprinting Proof:
Attach your IdentoGO fingerprinting receipt as proof that you have completed the fingerprinting requirement. Make sure all necessary signatures and information are correctly provided.
Pay the License Fee:
As of 2024, the fee for the Salesperson License in Missouri is $90. This fee must be submitted along with your application. Keep a copy of your payment receipt for future reference.
After submitting your application, you can track its status through the Missouri Real Estate Commission (MREC) website. Regularly checking the status will help you stay informed about the progress of your application and any additional requirements that may arise. If there are delays or issues, contacting the MREC directly can provide clarity and help move the process along more smoothly.
Step 6: Find a Real Estate Broker to Sponsor You
Once you pass the exam, you need to find a sponsoring broker to activate your license. Look for a brokerage that aligns with your goals and offers the support you need.
Considerations
Find a supportive and collaborative environment. The right culture can significantly impact your job satisfaction and success.
Understand the financial arrangements. Different brokerages offer different commission splits, so choose one that suits your financial goals.
Choose a broker who provides ample training and mentorship opportunities. Early career support is crucial for your development and success.
Questions to Ask Potential Brokers
17 Brokerage Interview Questions
- What training programs do you offer for new agents?
- How does your commission split work, and are there any additional fees?
- What kind of support and resources will I have access to?
- Can you provide references from other agents in your brokerage?
Choosing the right broker is crucial as it impacts your early career significantly. Consider top-rated brokers like eXp Realty, Keller Williams, Coldwell Banker, and Compass.
Why Join Smart Agent Alliance at eXp Realty?
When you join Smart Agent Alliance, you get double the value because you’re also automatically a Wolf Pack member. Together, Smart Agent Alliance and the Wolf Pack provide the tools, support, and expertise to elevate your business to new heights.
Smart Agent Alliance Benefits:
At Smart Agent Alliance, we prioritize organization, clarity, and efficiency to help our agents succeed. We provide essential onboarding resources, customizable presentations, business automations, client checklists, business assets, social media content, YouTube support, a growth plan, quality lead generation, production know-how, website support, and top-notch organizational tools.
Wolf Pack Benefits:
The Wolf Pack team at eXp Realty offers expert-led courses like Social Agent Academy 3.0, the Wolf Pack Hub, and the Investor Army for property flipping. We provide tailored assistance for new agents, developing agents, top producers, team leaders, and broker owners. Key resources include lead generation, production know-how, social media content, and YouTube support.
eXp Realty Benefits:
eXp Realty offers a comprehensive range of benefits for agents, focusing on top pay structures, low fees, and free stock options. Agents get an 80/20 commission splits that cap at $16,000 annually, with opportunities to earn 100% commission, receive annual stock awards and gain income through Revenue Share. Additional resources include 24/7 agent support, affordable healthcare, live training, and advanced tech tools like kvCORE and customizable IDX websites.
Financial Planning
Embarking on a real estate career involves some initial expenses and careful financial planning. Understanding these costs will help you manage your finances effectively as you begin your new career.
All stated fees are subject to change.
Starting Costs
- When getting started in real estate, there are various initial costs to consider, including licensing, marketing, and business setup. Some examples of initial expenses in Missouri include:
- Pre-Licensing Course: $199 – $500
- Exam Fee: $62 per attempt
- Application Fee: $90
- Fingerprinting Fee: Approximately $40.50
- Marketing Materials: Costs for business cards, signage, and online advertising
When you join a brokerage in Missouri, many will require you to become a member of the National, State, and Local Associations of Realtors. Additionally, you’ll need to pay fees for the Multiple Listing Service (MLS) and Supra Key services.
National Association of Realtors (NAR)
- Membership Fees: For 2024, the NAR annual dues are $156, plus a $45 special assessment fee for the Consumer Advertising Campaign, bringing the total to $201 per year.
Missouri Realtors (State Association)
- Membership Fees: The annual dues for Missouri Realtors in 2024 are approximately $150. This fee is in addition to the NAR dues.
Local Association of Realtors
- Membership Fees: Local association fees in Missouri vary depending on the specific association. For example:
- St. Louis Realtors: The annual dues are approximately $600, plus a one-time application fee.
- Kansas City Regional Association of Realtors: Fees are generally around $525 annually, with additional costs for new members.
Multiple Listing Service (MLS)
- Fees: MLS fees in Missouri also vary by region. For example:
- MARIS MLS (St. Louis area): Fees are approximately $528 annually.
- Heartland MLS (Kansas City area): The fees typically range from $150 to $200 quarterly.
Supra Key Fees
- Fees: Supra Key services in Missouri typically include an initial setup fee of about $50 and a monthly service fee ranging from $18 to $25, depending on the region and service package.
Budgeting Tips
- Create a Budget: Track your expenses and forecast your income. Plan for slower months to ensure financial stability.
- Emergency Fund: Set aside an emergency fund to cover unexpected expenses or slow periods in the market
Income Management
- Commission Structure: Real estate agents typically earn commissions from sales. Understand how your brokerage’s commission structure works and how to manage irregular income streams. Commission splits can vary widely, typically ranging from 50/50 to 70/30 or higher, depending on the brokerage.
- Tax Planning: As an independent contractor, it’s important to plan for taxes. Keep track of deductible expenses, make estimated tax payments, and maintain good record-keeping practices. Consulting with a tax professional can help ensure compliance and optimize your tax strategy.
Frequently Asked Questions
What are the requirements to get a Missouri real estate license?
To obtain a Missouri real estate license, you must meet the following requirements:
- Age: Be at least 18 years old.
- Education: Complete 72 hours of pre-licensing education, which includes a 48-hour Salesperson Pre-Examination course and a 24-hour Missouri Real Estate Practice (MREP) course.
- Examination: Pass the Missouri Real Estate Salesperson Exam, which consists of both national and state-specific portions.
- Background Check: Complete a fingerprinting process and pass a criminal background check through the Missouri State Highway Patrol and the FBI.
- Application: Submit your license application to the Missouri Real Estate Commission (MREC) within six months of completing your pre-licensing education, along with the required application fee.
These steps ensure that you are qualified and prepared to start your career as a real estate agent in Missouri.
How much does it cost to get a real estate license in Missouri?
The cost to get a real estate license in Missouri includes several key expenses:
- Pre-Licensing Education: $199 to $500, depending on the course provider.
- Exam Fee: $62 per attempt.
- Application Fee: $90 for the Salesperson License.
- Fingerprinting Fee: Approximately $40.50.
- Additional Costs: Marketing materials, association memberships, and MLS fees can add to the total expenses.
Overall, you can expect to spend around $400 to $700 to get your real estate license in Missouri.
How long does it take to get a real estate license in Missouri?
The time it takes to get a real estate license in Missouri varies but generally includes:
- Pre-Licensing Education: Completing the required 72 hours of coursework can take between 2 to 6 weeks, depending on whether you study full-time or part-time.
- Exam Preparation and Scheduling: Preparing for and scheduling the Missouri Real Estate Salesperson Exam can take another 1 to 2 weeks.
- Fingerprinting and Background Check: This process typically takes about 1 to 2 weeks.
- Application Processing: Once submitted, the Missouri Real Estate Commission (MREC) usually processes your application within 1 to 2 weeks.
In total, it typically takes around 2 to 3 months to get your real estate license in Missouri, depending on your pace and the processing times.
What is the pass rate for the Missouri real estate exam?
The pass rate for the Missouri real estate exam typically ranges between 60% and 70%. This means that out of all the candidates who take the exam, around 60% to 70% successfully pass on their first attempt. The exam includes both national and state-specific sections, and you must pass both to obtain your license.
It’s important to thoroughly prepare for the exam by completing your pre-licensing education and utilizing exam prep resources to improve your chances of success.
What happens if I fail the Missouri real estate exam?
If you fail the Missouri real estate exam, you can retake the test. You’ll need to pay the exam fee of $62 for each attempt. It’s important to focus on the sections you found challenging, as the exam covers both national and state-specific content. You can retake the exam as many times as needed, but you must pass both portions to qualify for your license. Consider using additional study resources or taking practice exams to improve your chances of passing on your next attempt.
How do I renew my Missouri real estate license?
To renew your Missouri real estate license, follow these steps:
- Complete Continuing Education: You must complete 12 hours of continuing education (CE) every two years, including at least 3 hours focused on core topics like fair housing.
- Log in to the MREC Online Portal: Use your PIN and license number to access the Missouri Real Estate Commission (MREC) online renewal system.
- Verify Information: Check and update your personal and contact information as needed.
- Pay the Renewal Fee: The renewal fee is typically $65. Be sure to submit payment before the expiration date to avoid late fees.
- Submit the Renewal Application: Once all steps are complete, submit your renewal application online.
Timely completion of these steps will ensure your license remains active.