Anyone considering becoming a real estate agent or broker in Tennessee is likely curious about how to make their dream a reality. The first step for would-be Tennessee agents is to obtain an affiliate real estate broker license that allows them to work as an agent for a broker.
After ample experience, many agents can go on to take more courses to officially become a broker who can run their own real estate business. In this piece, we predominantly cover how to get started as an agent but will touch on broker licensing. You'll learn what the exam covers and what to expect cost-wise to get licensed. If you want to pursue a career in real estate, read more to discover what it takes to pass the Tennessee real estate exam.
What To Expect On the Tennessee Real Estate Agent Exam
To get licensed, candidates must complete 90 hours of approved education in the state of Tennessee and then pass the Tennessee real estate affiliate broker exam.
The approved education includes two separate courses: a 60-hour Basic Principles course and a 30-hour New Affiliates course. The two-part exam consists of 80 questions on the national level and 40 questions on the state portion. Here's what test-takers will need to know to pass each exam section.
Concepts on the State-Specific Portion of the Exam
The following sections on the state-focused portion include:
- Licensing Requirements
- Duties and Powers of the Real Estate Commission
- Broker/Affiliate Relationships
- Handling of Documents and Record Keeping
- Handling of Trust/Escrow Funds
- Agency and Disclosure Issues
- Advertising and Marketing
- Other Improper Activities and Consumer Protection
- Particular Areas of Practice (Property Management, Timeshares, Commercial/Industrial Real Estate)
Concepts to Know for the National Portion of the Exam
The national portion of the real estate licensing exam in Tennessee consists of the following sections:
- The Practice of Real Estate
- General Principles of Agency
- Property Ownership
- Land Use Controls and Regulations
- Valuation and Market Analysis
- Transfer of Title
- Property Condition and Disclosures
- Real Estate Calculations
- Commercial, Industrial, and Income Properties
Aspiring agents will have six months after completing the educational courses to pass the exam. A passing grade on the 120-question test requires a minimum score of 70%. You will receive your score immediately after you complete your exam. Those who pass the exam can take the following steps to apply for a license.
Tennessee Affiliate Real Estate Broker Course & Exam Fees
The cost of getting the required hours completed can range depending on which school one attends. The 90-hour Tennessee Affiliate Broker real estate license course averages $149. The additional 30-hour course averages $25.
There is a $39 cost per attempt to take the exams to be an affiliate broker, real estate broker, timeshare salesperson, or acquisition agent. License application fees average $90 for most real estate licenses, including affiliate brokers. However, renewals are necessary every two years, and some positions will need to take short courses in continuing education.
What's the Potential Payoff for Your Investment?
Of course, how much agents make working on commission in real estate depends on several factors. New agents who work solo may make less than those working with a group. Working with a real estate team might open up opportunities for a more stable income and free time. However, this depends on the price of the real estate they deal with and how many homes they sell.
That being said, statistics from the job worksite Indeed report that affiliate real estate brokers in Tennessee make an average salary of $88,060 annually. With more experience, agents can earn well over $140,000, and top agents can earn even more annually.
Top Paying Cities for Real Estate Agents in Tennessee
Those looking to start their career off making top dollar might want to consider working in one of the highest paying cities for affiliate real estate brokers in Tennessee. Indeed offers these average salaries:
- Murfreesboro, TN—$99,517 per year
- Franklin, TN—$96,288 per year
- Johnson City, TN—$91,902 per year
- Maryville, TN—$91,601 per year
- Clarksville, TN—$88,400 per year
- Chattanooga, TN—$85,675 per year
- Memphis, TN—$84,837 per year
- Gallatin, TN—$83,952 per year
- Maryville, TN—$91,601
- Knoxville, TN—$81,816
Considering Becoming a Real Estate Agent in Tennessee?
It only takes three to six months to complete the required courses and apply for a real estate license in Tennessee. This career offers a good salary and many benefits, making it a highly desirable pursuit. With proper preparation, passing the Tennessee Real Estate Exam is within reach, and you can go on to be a top agent!
Are you interested in taking the Tennessee Real Estate Exam? We'll help you get your real estate license! Join the Ashton Real Estate Group and we'll help you pay for the exam with our team discounts and pursue your dream of becoming a real estate agent!
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