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Shefali, Real Estate Pro in San Jose, CA

Best study material / exam prep for Broker license in CA?

Asked by Shefali, San Jose, CA Sat Oct 18, 2008

Hi,

I am about to take the broker license exam and was wondering what the experiences has been for some of the online exam prep materials - which ones are good or bad. And some tips on how to prepare for the exam etc.

Would also like some pointers/advice on how to get started using your shiny license - I have seen discussion on whether to start your own or to work for someone to get experience before. What would be helpful is how much you can earn (on an avg - rough estimate in both the scenarios )

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6
Real Estate Trainers have great test prep (crash course) classes. http://www.RETrainers.com
3 votes Thank Flag Link Mon Oct 20, 2008
You can do lots of practice exams to refresh the terms you have studied and real exam questions here:
http://www.realestateexampractice.com/
2 votes Thank Flag Link Wed Dec 9, 2009
Hi

Have you passed your exam? I am about to take the broker exam. can you please recommend some online exam prep materials ?
1 vote Thank Flag Link Sat Aug 8, 2009
When you first get your license, if you have no experience, you would be wise to work with people who can give you a good foundation. You will know how long to "stay" with a brokerage because it is either worth your investment, or not.

Buy some good books. Start your lead generation immediately. A pipeline takes a year or so to build. Get going already!

I started at Coldwell Banker and quickly went to Keller Williams. I stayed with Keller Williams about 5 years. Each brokerages charges differently and offers different resources.

What I liked about Keller Williams was the fact that "profit sharing" for the office gives a sense of helping each other. Everyone wants everyone to close escrow and win. The training was excellent, locally and regionally. The culture is a lot of fun and the Christmas party is awesome. I went in 20-80 but the norm is 30-70 (30 for broker) plus a "franchise fee" and also monthly fees for the phone, technology etc.

At CB, the split was more like 55-45 but I liked the brand and the solid feeling of the company. At C21, each is independently owned just like CB, but I found 60-40 to be common when I was researching companies in 2003. I don't know if those #s pan out now. I believe that Realty World is doing some very cool stuff with online lead development, most offices charge a monthly fee and a negotiable split.

At my company, you pay a flat rate per transaction and no split. So, right now I have a $3 million listing and if it closes, I still pay only the flat fee instead of $18K to KW.

Once I got my "feet wet" for a few years, I went to Real Estate eBroker http://(www.REEBroker.com) where you can see there is no fee to join, no monthly fee, and no franchise fee. My broker is excellent. The downside is that there is no office camaraderie. And because at KW I coached and mentored new realtors for a 30% split, I miss all that business from the mentor traffic.

Another plus (whether you come to Real Estate eBroker or not) is that anyone you refer to REEBroker.com will result in $100 per closed transaction for you, again, whether you work for my company or not. This is an incentive to tell your friends about the company.

I recommend you interview with brokers that attract you. Also talk to agents at open houses and get the feeling for the different brokerages. Definitely only go with a broker you respect and a culture that works for your needs.

Good luck! Feel free to e-mail me for more "scoop."

Erica Nelson
EricaNelsonEstates@gmail.com
http://www.EricaNelsonEstates.com
408-416-7090
0 votes Thank Flag Link Thu Dec 10, 2009
Good Morning to you,

It seems to me that you are going to take examination pretty soon right.
I enrolled in the Chamberlain Real Estate before when I am took my
licensed, they have a good materials, but in my opinion you have to
study hard to make it easier. I do recommend to study in the morning
try to practice the questions and answers. If you passed the exam be sure
to join with Company that have training. I know most of licensed they
did not go to the training that is why based on the survey the Real Estate
Industry is we are on the bottom.
0 votes Thank Flag Link Tue Oct 27, 2009
The best advice I have regarding preparation is to study the Real Estate Reference book published by the DRE. If you master the information in that one book, you will know all that is necessary to pass the examination. It has been so long since I took the exam that I am not up on which exam prep courses might be best, but having a good grasp of the fundamentals is always key to passing an exam.

I find your questions about what to do once you get your license to be the most interesting. It sounds like you do not have any experience in real estate sales. If that is the case, then I assume that you will be a "degree" broker - one that has a four year college degree, in lieu of the 2 years salesperson experience required to obtain a broker license. if so, then I certainly recommend that you go to work for someone in order to gain experience in the daily workings of the real estate business. The training and guidance of a successful broker will prove invaluable to your future success in the industry.

As to your questions about income, I believe that you would benefit more from working for another broker, initially, because you would not have all the office expenses and start-up costs to deal with, while at the same time trying to establish a new business and earning little or no income at the outset.

Aside from everything else, you will need training and experience in order to be assured of long term success. Good luck in your career.
0 votes Thank Flag Link Sat Oct 18, 2008
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