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F.A.Q.

Here are some common questions about the Austin real estate market and real estate in general.

Being a REALTOR®

How to become a REALTOR®?

Requirements for a License

  • Citizen of the United States or lawfully admitted alien
  • 18 years of age or older
  • Meet TREC’s qualifications for honesty, trustworthiness, and integrity
How long does it take to get a REALTOR® license?

​180 classroom hours of the following qualifying real estate courses:

  • Principles of Real Estate I (30 classroom hours)
  • Principles of Real Estate II (30 classroom hours)
  • Law of Agency (30 classroom hours)
  • Law of Contracts (30 classroom hours)
  • Promulgated Contract Forms (30 classroom hours)
  • Real Estate Finance (30 classroom hours)

Find a qualifying education provider. Submit your course completion documents to TREC after applying online or with your paper application. After completing your course work, you are welcome to submit a course and instructor evaluation

If you completed any of the above qualifying real estate courses through an accredited college/university for academic credit, submit a transcript for evaluation.

How do REALTORS® get paid?

REALTORS® typically get paid based on a percentage commission on the final sales price.

How much commission does a REALTOR® make?

 The standard commission for residential real estate transactions is 6%, of which 3% goes to the buyer’s brokerage and 3% goes to the seller’s brokerage. Each agent has its own commission structure in place with their brokerage.

Watching the Market

What does contingent mean on a real estate listing?

When a listing is listed as contingent, that means that the seller has accepted an offer that has a contingency. The most common contingency in residential real estate is a contingency on the sale of real property.

What does pending mean on a real estate listing?

When a listing is listed as pending, it means that the seller has accepted an offer and they are awaiting the closing of the sale. 

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