Are you a mom interested in entering the real estate industry? If she’s ever thought about going into real estate, she wants to have a good idea of ​​what kind of costs she’ll incur when starting her business. Because there are costs involved in becoming a licensed agent.

First of all, you will have to pay for education. You probably have a few options in terms of where (online or offline) and their respective prices. But you still have to pay. You will have to pay between $250 and $800 for license classes.

There are some cases where brokers can pay for your education. Especially if you currently work in the industry in some way and your boss wants you to get licensed. In that situation, you should definitely make your employer pay the bill. Some brokers even have their own school where tuition will be refunded if you sign up with them as a licensee.

And don’t forget to ask the school (either online or offline) if tuition assistance is available. For example, active duty military members can usually get discounts or assistance. It never hurts to ask. There is a lot of competition out there. In fact, some online schools will beat the price of the competition by 10% if you show them the numbers. So it pays to do a little legwork to save a few bucks on education.

Another cost that you will not be able to avoid is the state exam and the state license. Each state has an exam that you will need to take and pass before you will be issued a license. Exam fees can range from $25 to $200, but can also include other fees, such as state licensing, so it’s important to understand what’s included. Every state has a real estate department website, or at least a page dedicated to professional licensing and all of the education, exam and fee requirements will be found there.

Additional upfront costs may include fingerprinting and background check fees. Again, this information can be found on your state’s department of real estate website.

But what happens after having the license in hand? When you interview brokers and decide where to hang your license, you’ll find that every broker is different in terms of what you can get and what’s expected of you. Many will expect you to gain membership in the local Association of REALTORS and the fees associated with that will also earn you membership in the state and national associations. But you may have to shell out $100-$200 for annual fees. Not only will this get you into the nation’s largest professional association, it will also give you access to MLS, also known as the Multiple Listing Service. This is important, as most homes for sale and rent can be found on your regional MLS.

Other start-up costs can be business cards and signs. There are ways to cut costs. You can get some temporary cards cheaply online through websites like VistaPrint. And the same goes for signage. With a little searching, you can save $20-$100 on your initial sign order just by looking online.

You will also need a key to the safe. This will set you back between $80 and $120. This is the gadget that will allow you to access houses with keys stored in safe deposit boxes. This is practically essential. And if you plan on working with vendors, you’ll want at least one lockbox in your inventory. This will also cost around $80-120. But it’s nice to have it on hand so it’s ready when a client lists their home with you.

Starting a career in real estate is not expensive, but it does require some money. You’ll want to budget at least $500 to $1000 to start your real estate business, but if you consider it an investment for a long and successful business, it’s well worth it!