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Updated over 8 years ago,
California Broker License Experience Requirements
I'm looking into getting my broker license in California and was wondering if my work experience qualifies as "equivalent experience" for the 2-year requirement. I currently work for a real estate investment, management, and development company. We are a small shop that buys, renovates, manages, and ultimately disposes commercial properties as the general partner in JV structures and my duties cover every aspect of a deal. We also do ground-up development. I underwrite deals (including debt assumptions), help in acquisition/disposition, work closely with our architects/construction workers/property managers/brokers/any other servicer we employ in relation to our deals, work on leasing and asset management, work with our JV investors, etc. Would this experience be sufficient to obtain a brokers license?
Also, I worked on the real estate debt team at prudential for a year and a half, but not as an originator. I was part of the portfolio management team that allocated commercial mortgage loans to the various investment groups within Prudential. Would this experience count? I don't think my boss had a broker license if that's relevant.
If neither of these qualify as sufficient experience, is there any other license I could obtain to get involved in debt brokering? I want to propose to my boss that we add debt brokering as a line of service to our business, but if I can't meet the requirements for the license then the idea is dead in the water.
Thanks!