At some point in your career, you may consider getting your broker’s license. So what is a real estate broker’s license and how does it benefit you and your career? Also, what’s involved with getting a broker’s license? Well, that’s precisely what we’ll explore in today’s article from Southern Connecticut Coldwell Banker Realtor Judy Szablak and founder of Szablak Consulting.
What is a Real Estate Broker?
A real estate broker is a level above a real estate agent and a broker’s license allows you to start your own brokerage firm. You can opt to work alone or you may take on real estate agents to work under you, if you choose to move in this direction.
In addition to having all of the capabilities of a Realtor, brokers are also authorized to perform other tasks, such as establishing escrow accounts, handling earnest money deposits and beyond.
How Do You Get a Broker’s License?
A broker’s license requires a fair amount of experience and education, as license-seeking real estate agents must take lots of classes in preparation to receive their license. The precise requirements for getting a broker’s license do vary a fair bit from state to state.
For example, in Virginia, a Realtor is required to complete a minimum of 60 hours of classes and they must pass both the state and national exams in order to gain a license.
On the other hand, Virginia broker’s license candidates are required to complete an additional 180 hours of broker-related classes, in addition to passing state and national broker exams.
There are some fairly stringent requirements nationwide concerning who is eligible to get a broker’s license. In California, the requirements include:
- The applicant must be at least 18 years of age;
- The applicant must be a licensed real estate agent;
- The applicant must have at least two years of experience working as a real estate agent. This two-years worth of experience only “counts” if it occurred sometime within the past five years.
- The applicant must disclose any criminal background. There are some cases where an individual’s criminal history may disqualify them from obtaining a real estate broker’s license.
- The applicant is required to complete at least eight college-level courses in real estate practice, real estate law, real estate finance, real estate appraisal and real estate economics or accounting. In addition to the five aforementioned course topics, which are all mandatory, applicants must complete an additional three college-level courses in the area of their choosing in order to arrive at the minimum of eight classes. Some of the class topics are escrow, business law, property management, real estate principles, real estate office administration, mortgage loan brokering and lending, advanced legal aspects of real estate, advanced real estate finance, advanced real estate appraisal, computer applications in real estate and common interest developments.
Getting a real estate broker’s license involves a lot of hard work, but it’s an accomplishment that provides you with lots of new opportunities for growth in your real estate career.
Tips to Grow Your Career With Szablak Consulting Founder and Realtor Judy Szablak
Getting started in real estate and setting off down the path toward success can be a real challenge. But this is where you can benefit from working with a career consultant like Judy Szablak. She can provide new real estate agents with valuable insights and recommendations that give them a competitive edge in today’s real estate industry. A consultant will not only offer advice and recommendations, but she will also share her valuable knowledge and expertise on topics such as online marketing for Realtors and social media marketing to get leads, to sales motivation tips and other tips to sell more homes!
Aspiring top producing real estate agents may also with consider reading Realtor Judy Szablak’s related article with advice to help you enjoy a long lasting real estate career.
If you’re ready to take your career to the next level or are just starting working as a Realtor, turn to real estate professional and consultant Judy Szablak, founder and CEO of Szablak Consulting and Best Agents Online, LLC. With Judy’s guidance and expertise, you’ll take your career to incredible places, finding success that’s beyond what you believed to be possible!
If you’re a real estate agent who is ready to elevate your sales or if you’re a realty owner or manager who’s seeking a dynamic, expert coach to bring a new element of professionalism to your sales team and your brokerage firm, turn to Realtor Judy Szablak of Szablak Consulting. Call 855.438.5839 or complete the booking form.