The first step is to contact your state's Department of Professional Regulation for licensing requirements and certified schools.. . Don't believe everthing you hear about real estate---it's neither easy money nor a dying profession. It takes a lot to sell a house in the declining market, and you will earn every penny of your commission.. . Real estate is like any other business---it's expensive to get into it and succeed. You'll need reserve funds for marketing, and to cover your expenses while you build your business. The one big thing you won't have to buy up front is inventory---but then again, your inventory isn't there for the asking. In a tough market, sellers will look for experienced agents with proven track records in tough times, which generally means (in my area) and agent with more than 5 years experience.