How to Obtain a Real Estate Broker’s License in California and Save on Realtor Fees
As you may know from my profile, I am a licensed real estate broker and Realtor. I had purchased a few primary residences prior to business school and somehow imagined that becoming a broker took years of training and experience. In spite of this, I decided to look into getting my license just to see what was needed (I hate ‘giving’ money away, and felt that being my own broker would help ease my pain). As it turns out, all you need is some patience, a 4-year college degree, and some high-school level test taking skills and you can have your own bona fide brokers’ license to purchase and sell properties at your leisure without paying 6% per transaction. As an added bonus, you can have access to the brokers’ most cherished and closely guarded possession – MLS data. Here is a breakdown of the steps needed:
1.) Take 8 college level courses laid out by the DRE – or exempt out based on your coursework in college (accounting and economics are commonly exempted out of). These classes can be taken at online schools, such as Anthony Schools – a Kaplan company. This is where the patience comes into play, since you are required to wait a few weeks in between courses. Otherwise, you could basically register for, and take, all of the on-line (open book, I might add) exams in the same day. Plan on taking a few months to work through the 8 college-level courses.
2.) Then, assuming you have your 4-year college degree, all you need to do is apply to take the brokers’ exam. Don’t even bother taking the salesperson exam unless you planning on working directly for a broker. The exam is not much more difficult, and being a broker means you can be your own company.
3.) Pass the exam and the DRE turns you loose to buy and sell until your wallet is content. You can then sign-up with your local Realtor association and get your Super Key to get into MLS listed homes, and have access to MLS data.
A complete description of the broker licensing requirements can be found at the CA DRE Website.
For more details on this pad, and to see other rehabbing post, please visit BayAreaREI.com
1 post, 1 voice
BayAreaREI.com writes, Jul 5, 2007: (7 posts)
How to Obtain a Real Estate Broker’s License in California and Save on Realtor Fees
As you may know from my profile, I am a licensed real estate broker and Realtor. I had purchased a few primary residences prior to business school and somehow imagined that becoming a broker took years of training and experience. In spite of this, I decided to look into getting my license just to see what was needed (I hate ‘giving’ money away, and felt that being my own broker would help ease my pain). As it turns out, all you need is some patience, a 4-year college degree, and some high-school level test taking skills and you can have your own bona fide brokers’ license to purchase and sell properties at your leisure without paying 6% per transaction. As an added bonus, you can have access to the brokers’ most cherished and closely guarded possession – MLS data. Here is a breakdown of the steps needed:
1.) Take 8 college level courses laid out by the DRE – or exempt out based on your coursework in college (accounting and economics are commonly exempted out of). These classes can be taken at online schools, such as Anthony Schools – a Kaplan company. This is where the patience comes into play, since you are required to wait a few weeks in between courses. Otherwise, you could basically register for, and take, all of the on-line (open book, I might add) exams in the same day. Plan on taking a few months to work through the 8 college-level courses.
2.) Then, assuming you have your 4-year college degree, all you need to do is apply to take the brokers’ exam. Don’t even bother taking the salesperson exam unless you planning on working directly for a broker. The exam is not much more difficult, and being a broker means you can be your own company.
3.) Pass the exam and the DRE turns you loose to buy and sell until your wallet is content. You can then sign-up with your local Realtor association and get your Super Key to get into MLS listed homes, and have access to MLS data.
A complete description of the broker licensing requirements can be found at the CA DRE Website.
For more details on this pad, and to see other rehabbing post, please visit BayAreaREI.com