Overview of the Residential and Commercial
Real Estate Market in Missouri
The "Show Me State" is bordered by eight other states. The Branson and Tri-Lakes area is within a day’s drive for about half of the residents of the Unites States. More than 65,000 people visit the area every day; most arrive by RV or tour bus. Branson is one of the most popular bus tour destinations. More than 4,000 buses make the trip every year. With a population of 467,007, Kansas City is the largest city in the state. It has more miles of boulevards than Paris, more fountains than any city other than Rome, and a median home value of $134,600. The median household income is $45,275. Missouri has a median home value of $137,000 and a $47,380 median household income. Of the state's 6,044,171 residents, 318,416 live in St. Louis, according to the U.S. Census. The median home value there is $119,200. The median household income is $34,582. The city has a poverty rate of 27.4 percent.
The four largest metropolitan areas in the state are Kansas City, St. Louis, Springfield, and Columbia. Missouri is the only state with two Federal Reserve Banks, one in Kansas City and one in St. Louis. The total state product is about $225.9 billion. The state is one of the nation's top producers of soy bean, rice, hogs, and cattle. With approximately 108,000, Missouri has more farms than any state other than Texas. Monsanto's headquarters are in Missouri. Tourism is also a major component of the state's economy. The state's low per capita income and slow population growth slows the demand for retail space. The state's central location, low energy cost and taxes, and extensive interstate highways make it a good location for manufacturing and distribution companies. Many residents near the major cities live in low-income apartments. The financial services and health care sectors are major employers for the state. Demand for office space stays high in the major cities.
Office Rental and Executive Suites in Kansas City, MO
How to Become a Realtor in Missouri
Created in 1941, the Missouri Real Estate Commission is made up of seven voting members. Six have at least 10 years' experience working as a real estate broker. The seventh member is from the general public. The commissioners are appointed to a term of five years. In addition to reviewing complaints, conducting investigations, and doing audits, the Missouri Real Estate Commission approves the requirements for becoming a real estate agent in the state and approves continuing education courses. Applicants must be at least 18 year old and fulfil one of the following:
1. Complete an approved 48-hour pre-exam real estate course.
2. Be an attorney in good standing.
3. Have the Commission grant them a one-time sitting for the exam.
4. Be an active real estate agent in another state, pass the Missouri state exam, and complete the 24-hour Missouri Real Estate Practice Course (MREP).