Depending on what real estate school you go to they will cost between $400-$500 for live courses. Online courses are typically less expensive.
$400-500 For Classes
$68.00 For Testing
You have now spent $513-$613 on your journey to be a real estate professional.
Your license will arrive with your broker in about 2 weeks after being sent to the MREC. Until your license is actually in the hands of the broker you are NOT licensed and are NOT allowed to engage in conversations about the sale of real estate.
Once your license arrives you have one more checks to write to the St. Louis Association of Realtors (SLAR). Slar membership is the place you will pay all your dues and fees. You will need to be a member of the following
National Association of Realtors®
Missouri Association of Realtors®
St. Louis Association of REALTORS®
MidAmerica information system (MLS)
And you will need a supra key or your smart phone authorized to work as a supra key. Each of these fees are prorated and you have one time fees that must be paid when you register.
One time fees
SLAR Application Fee $300.00
MARIS New Member Fee $50.00
Supra One time activation fee $75.00
One time fee total $425.00
EKey on smartphone is a monthly charge. The monthly fee for Ekey is $15.26 ($183.12 annual)
MARIS is billed quarterly. The quarterly fee is $60 ($240 Annual)
When you join the SLAR this fee is prorated on a calendar year. Annual fees are then due December 31st of each year. The annual fee is $468.00
Your license comes up for renewal every 2 years, The cost is $60 and you must complete 12 hours of Continuing education. Renewal years are even numbered years. This is a fee paid to the MREC.
As you can see in your first 12 months you will pay
$581.00 Schooling and testing
$ 95.00 Licensing
$ 891.10 Annual SLAR, NAR, MAR, SUPRA, MLS
$425.00 One-Time fees for SLAR, MAR, NAR, MLS, SUPRA
Only $200-$300 of that is billed monthly or quarterly.
All of the above fees are the same no matter what company you join. They are National & Local dues that don’t change from one company to another.