How Much Does a Real Estate School Cost?


Written by:  Howmuchisit.org Staff
Last Updated:  August 8, 2018

A real estate school is a school that offers different courses to enhance the ability and knowledge of an individual in order to jumpstart his or her career in the real estate industry.   This training will be required in order to become licensed in your state, and a basic course, at a minimum, will prepare you for the state’s licensing exam.

There are different courses offered by real estate schools, focusing on topics such as sales and/or becoming a licensed broker.  Real estate schools are traditionally held in a school setting, but with recent advancements in technology, students are able to take all of their courses online.

The cost of real estate school will depend on the number of classes taken, the school, geographical location and if the broker helps with the payment.

House for sale across the street by asianjournalusa, on Flickr
House for sale across the street” (CC BY 2.0) by asianjournalusa

How much does real estate school cost?

On average, real estate school can cost anywhere from $250 to as much as $600 depending on the school and course.

Coldwell Banker, for instance, says the pre-licensing courses will often be in the $400 to $500 range, depending on where you take the course, according to the company’s website.

For example, RealEstate.com shows that the price of admission for this type of school can range anywhere from $169 to $307.

We researched a few of the most popular real estate schools in the United States and listed the prices they charge in our table below.

SchoolPrice
Chamberlin Real Estate School (Campbell, California)$350 for the pre-license package
Gold Coast School (Miami, FL)$489 for 63-hour sales associate pre-license course.
Miami Dade College (Miami, FL)$289 for 63 hour pre-licensing course
Nationwide Real Estate School (Los Angeles, CA)$309 for salesperson license
Allied Real Estate School$288 for FAST TRACK premium program
Fitzpatrick School of Real Estate (Palm Beach Gardens, FL)$325 for FREC I classes or $375 for FREC II classes
Rowlett Real Estate School (Florida)$189 for 63 hour Florida pre sales associate license online course
Maine Center for Real Estate Studies (Portland, ME)- $395 for sales agent course by correspondence

Real estate school overview

Training will greatly vary depending on the school you choose.  As stated in our introduction, classes can either be taught in a classroom setting or it can be done entirely online.  Most states, according to ActiveRain.com, will require 30 hours at a minimum, but some states may require up to 90 or more.  Texas, for instance, requires 108 hours, while New York only requires 45.  To know exactly how many hours are required, check your state’s real estate commission’s website.  If you were to take advantage of an in-classroom atmosphere, then you can plan on taking two classes per week for about eight to 10 weeks total.  Intense classes may be available which may require you show up to class four to six times per week, cutting the duration of the program by more than 70 percent.

The course will teach real estate terms such as a lien, escrow and encumbrance, along with legal issues and real estate practices, for example.   There will also be basic math courses to help calculate commission, the price per square foot and how to figure out property taxes.

After you finish the courses, you will then have a specific time frame in order to take the exam and receive your license.  The length of the exam will vary depending on the state you live in, but most will take one to three hours and you must score a 70 percent at a minimum to pass.  Most exams will have anywhere from 75 to 150 multiple choice questions on national and state real estate laws and principles.

What are the extra costs?

After you graduate from the school program, licensing and test fees will be separate.  In Pennsylvania, for instance, the cost to take the test is $56, and it’s another $131 for a two-year license.  The cost of the licensing exam will usually be in the $50 to $150 range, and these tests will often have to be taken at a third-party testing center.  Most states, regardless of where you live, will require you renew your license every few years.  If you want to become licensed in more than one state, then it’s safe to multiply this number by the number of states you want to become licensed in.

An FBI background check can cost $60 to $110 and fingerprinting can be another $30 to $60.

Board fees are another fee to think about and can cost close to $300+ per year.  For example, an MLS membership, state dues and using the Centralized Showing Services can cost close to $900 per year.

Advanced designations, while optional, can require additional educational.  The SRES, ABR, GRI and CRS, for example, can cost up to $100 per designation, plus the cost of continuing your education.  Some states may require you to take continuing education courses every two years to keep your license active.

If you were to join a brokerage, which is required if you want to practice real estate, then you should be prepared to spend anywhere from $25 to $500+ per month for a desk fee.

Most courses will include the books and necessary learning materials; however, some courses may require you purchase the book separately.  Some students opt to purchase optional additional books to help them prepare for the exam.

Tips to know:

Before choosing a school, always make sure that the school is accredited by a qualifying accrediting agency.  If you don’t choose an accredited school, you may not be able to become a licensed agent.

According to the Bureau of Labor Statistics, real estate agents make an average of $45,000 per year, and the top 10 percent earned close to $166,000.

How can I save money?

Consider checking with your local community college as many offer these types of courses for a price that’s a lot lower than a third-party school.  When searching for a school, talk with at least three to five schools to see what they can offer.

If applying to a community college, see if you’re eligible for any financial aid to help with the costs.


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