Real Estate Investor · Los Angeles, CA · Member since 2013 · 34 posts · 5 votes
Hi all,
I started completing course requirements for the CA RE broker's license a few years ago. Now, I'm in the process of picking it up again and actually completing it. However, I was just told that the requirements got changed as of 12/31/12.
Meaning, you're not able to go straight for broker's license anymore. Instead, you need to obtain the sales agent license first. Then, work two full years under a broker. And then obtain the broker's license yourself!
Is that correct? Am I missing something here?
California Real Estate agents and brokers, help me out here :)
Rental Property Investor · Beverly Hills, CA · Member since 2014 · 472 posts · 272 votes
12y
My wife and I are both licensed agents. @Jason Luo is correct in that you need to hang your agent license at a broker for a couple of years before sitting for your brokers exam.
Out of curiosity, why go straight for your brokers license? What advantages do you gain from having the license, but none of the experience as an agent to utilize it effectively?
Opa Locka, FL · Member since 2013 · 7 posts · 0 votes
12y
Yup this is correct. I'm on the same boat, and I have to go through the entire course and wait the 2 1/2 week per course before taking the test. Been buying a lot of study books.
Real Estate Investor · Los Angeles, CA · Member since 2013 · 34 posts · 5 votes
12y
Yikes. Thanks, @Jason Luo That stinks. I did my courses through http://www.premierschools.com/. It's all online. It was several years ago but I was pretty happy with it.
Investor · Kuna, ID · Member since 2013 · 20 posts · 8 votes
12y
I've been thinking about doing this as well. Found some books at the public library used book store or Goodwill store for 50 cents apiece. I realize I must still take the courses to qualify for the exam, but here's my real issue
This is costly enough to make me ask if it's really worth it. Then there's the whole hook up with a broker deal to actually get access to MLS. Will the broker have sales expectations for me? How much will my seat with the broker cost?
Can you guys explain how it works and how you justify the costs?
Realtor, General Contractor, and Developer · Redding, CA · Member since 2009 · 7k+ posts · 4k+ votes
12y
@Sven Simon You have always had to have experience or a certain level of education in order to become a licensed Broker in California. The reason being, as a Broker you can have agents under you, and it's necessary to have enough experience, and understanding of the process, laws, etc. to be able to oversee them and their transactions.
@Bruce W. It costs money to get into real estate. If the only reason you are doing it is to have access to MLS, there's other ways to get the information.
Brokers have overhead that has to be paid for offices, phone systems, advertising, insurance, management, etc. If you aren't producing, you have no value for them. There are offices where you can rent desk space, and those are the cheapest way to go. You will just have to do your research and find one in your area.
Rental Property Investor · Beverly Hills, CA · Member since 2014 · 472 posts · 272 votes
12y
My wife and I are both licensed agents. @Jason Luo is correct in that you need to hang your agent license at a broker for a couple of years before sitting for your brokers exam.
Out of curiosity, why go straight for your brokers license? What advantages do you gain from having the license, but none of the experience as an agent to utilize it effectively?
Real Estate Broker · Johns Creek, GA · Member since 2009 · 870 posts · 664 votes
12y
@sven simon,
I think you can bypass the 2 year requirement by having an undergraduate degree in real estate unless cal dre changed that rule as well. I did my 8 classes with allied and took the retrainerca weekend broker course in santa ana. It was a 5 hour exam and took me 2 tries to pass. I remember the exam to be challenging. The second time round I finished all 1500 questions on retrainers practice exam questions and I felt very prepared for the exam.
I highly recommend you get your broker's license as I see many benefits of having one. By having my broker license in california, I was able to get my broker license in georgia without having to take Georgia' s state exam. Most states will accept a california broker license, but california will not accept broker licenses from any other states.
By having my broker license in california, I was able to get my broker license in georgia without having to take Georgia' s state exam. Most states will accept a california broker license, but california will not accept broker licenses from any other states.
I didn't know you could do this. Did you have to take a Georgia exam? Pay a fee? Do you have a physical office in GA?
Real Estate Investor · Los Angeles, CA · Member since 2013 · 34 posts · 5 votes
12y
Thank you all for the great insight here. I've been talking to many people about this topic and it definitely seems that there are many pros and cons and it just depends on your individual situation.
@Karen Margrave - Thank you. I thought that wasn't the case when I had started taking the first classes about 7 years ago. But either way, it doesn't really matter as it's needed now. And, I think, it totally makes sense.
@Joshua McGinnis - Great question. It honestly didn't/doesn't matter to me. To me it was always clear that you need to work in the field as an agent (regardless of agent or broker's license). I totally agree with you. It's extremely important to have the field experience. I just thought you could have your broker's license, then be an agent (with a broker's license), and then once you fulfill the years of experience requirement, you'd be an active broker. To me it was just a matter of whether it's needed to take both exams of if you could basically skip the agent exam if you know that you want to be a broker eventually.
Real Estate Investor · Los Angeles, CA · Member since 2013 · 34 posts · 5 votes
12y
Perfect @Account Closed - that's exactly it! Great find.
That's why I had started the broker's license a few years ago instead of the sales agent's license - you were able to use a four year degree in liue of the 2 years of experience, which got changed now.
Realtor, General Contractor, and Developer · Redding, CA · Member since 2009 · 7k+ posts · 4k+ votes
12y
@Bruce W. Sorry, but you asked questions, I answered them. As for the tone of my post, you can imagine it to be whatever you want, I just gave you the information you requested. I don't see anywhere that I acted like I as a 'big' fish. Just trying to be helpful, sorry you took offense.
@Sven Simon for the most part you can do the same thing with your agents license, without the liability and headaches.
@Account Closed If you want a reciprocal license, check with the state you're interested in. Sometimes with your real estate license they will give you credit towards theirs, sometimes not. The same with general contracting licenses, etc. California usually has the most stringent licensing requirements. But, don't some states require attorneys for some of the stuff we do in California with a real estate license?
I knew there was some level reciprocity between states but I didn't know CA was maybe one of easiest to reciprocate from. Not that I want to get anymore licenses, my CA broker license is enough governmental regulation for me to swallow as it is ... and I don't have any agents. You are right about checking with the specific sate, I'm sure they are all different. That's why I was James specificlly about GA, the state he reciprocated to. CA brokers can do purchase and loan closings, something I believe only attorneys can do in other states, so, yes, CA brokers do have some attorney privileges in that sense. Any others you know of?
I might add that if/when you do get a brokers license, you can still work as an agent for a broker. Two years experience as an agent may seem like a lot but imo it's not.