(As reported by real estate educator Duane Gomer, http://duanegomer.com)
There is much confusion among students when the question of how to get a broker’s license is asked. There are some basic rules, but there are then some little known rules.
- The general rule is that you must complete 8 college courses to qualify to take the Brokers exam. Most recent Salespersons have completed three of these, and any of the courses taken in College apply no matter how long ago.
- The applicant must submit proof that they have worked in the real estate field full-time two years of the last five or part-time for ten years.
- If a person graduated with a four-year degree (major or minor in Real Estate), this will substitute for the experience requirement in #2.
- Until recently, a four-year degree in any major would have substituted for the experience, but no more since a regulation sponsored by CAR eliminated this process.
- Proof of experience includes a form RE 226, Employment Verification from their broker where he/she lists how many transactions the applicant completed including listings, sales, trades, leases, rentals, loans, syndicates, or security sales. Also, the form asks for approximate earnings during that period, and a biggie called, “Did the applicant have other employment or business activities”? and if yes explain. Finally, it asks for work time devoted, hours per week, and time of employment.
- Above the verifying broker’s signature is a statement that false certification is basis for suspension or revocation of their license. So it would be very difficult for someone to get a license for two years, do nothing and expect to sit for the broker’s exam.
- More forms: An Employment Certification Form when it is “absolutely impossible” to get the past broker’s signature (death, retirement, angry), etc. This form can be used by Out-of-State Brokers to explain their background.
- Equivalent Experience Verification #RE 227, revised 5/15. This form is for anyone who has worked in certain real estate related business as an unlicensed person. This one must be signed by two verifiers who are not related by blood or marriage. Lots of proof is needed (1099’s, W-2s, proof of ownership of properties, etc.)
- What are some examples for Number 8? Escrow, Title Officer, Loan Officer on Real Estate, subdivider, contractor, spec. builder, appraiser, property manager, two years’ real estate experience by a lawyer, etc.
- Then, after all this, about 50% of the applicants do not pass the exam. Those who attend crash course prep courses like ours have a much higher passing rate. My point is, “The people who have the broker’s license have experience and transactions, the desire, discipline, and intelligent to pass that exam, so understand the difference between Broker Associate and Sales Associate”. Okay, Salespersons let’s get moving to show you can do it.
Since there is so many questions, it is recommended that you call or email our office: