Costs of Becoming a Real Estate Agent in Arizona
Looking to become a real estate agent in Arizona? There are some costs you should be aware of before you embark on your journey. While these costs may change from time to time, this can be used as a good starting point.
License Fee
In Arizona, individuals are required to complete and application and submit with their license fee. The initial fee for this is $135. This fee is made up of two part, a $75 exam fee and a $60 license fee for first time licensees.
Fingerprint Fee
To become a real estate agent, it is required in Arizona that a background check be done through the department of public safety. Because of this, you will need to submit fingerprints, either electronically or classic ink on paper. The cost for this ranges in price depending on the service provider you choose. The department charges $67 as their fee, and then the 3rd party doing the fingerprinting charges anywhere from $20 – $50. Electronic prints are usually more expensive but have a quicker turnaround time as there is no need to mail anything.
90 Hour Approved Training
You will need to complete an approved 90 hour training course in Arizona before you can take your licensing exam. There are a number of different schools who offer classroom, online, and livestream courses to meet your needs. It is important that you do your research in selecting a school as you will be with them for 90 hours. In our recent search, schools charge anywhere from $399 – $1099 for the 90 hour training. Make sure you understand what you get with each school and for each price point as they are not all equal.
Additional Services
This is the area where the rubber really meets the road. Each individual is required to do the above, but the additional services are what can really set you apart. Some of these services may include, online tutoring groups, 1:1 tutoring, the Workshop (which is of course our favorite), Facebook groups, Agent mentoring, etc. These services can range in price anywhere from $100 – $500 depending on what you are looking for, and how many different options you choose.
Once you are licensed
Once you have passed your exam and successfully received your real estate license in Arizona, you will be required pay for membership into a couple other things. These costs vary greatly so we do not try to group them, but rather provide this as an understanding of additional fees you will see.
1. Broker Fees – In Arizona, you are required to join a brokerage to “hang” your license. This essentially means that the Broker is responsible for you and is making sure that you are following the appropriate processes. There are too many different Broker options to list, but make sure to look into each and understand what fee and pay structure they provide to their agents.
2. Local Association Fee – You will need to be active member in a local association to receive access to the Multiple Listing Service (MLS). There are a number of different local associations around Arizona. Some of the largest are, Scottsdale Area Association of Realtors (SAAR), West and SouthEast Realtors of the Valley (WeSERV), and Tucson Association of Realtors (TAR).
3. National Association Fee – You will also need to be a member of the National Association of Realtors (NAR). This membership allows the member to use the term REALTOR instead of Salesperson. This association also provides a number of different learnings as well as the Ethical Standards an individual must follow.