Agent2Agent in 90210>Question Details

Realtorwanab…, Other/Just Looking in 20009

I am getting a Realtor license from California and want to set up my own shop after rather that working for Remax,Century 21?

Asked by Realtorwanabee, 20009 Mon May 31, 2010

Does anyone have any experience in this area?or has anyone done this before.I am a CPA and had my own small practice and i want to do the same here after i get my California realtor license,

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Since you would like to become a broker, I think it would be a good idea to start with a large firm your first year and learn the business well, not just from the transaction point of view but also for the marketing experience, lending and escrow aspects of it. You are really going to need marketing strategies on how to market a property well either for sellers or buyers. In additon, networking with other agents and loan officers is needed for this business since you will often be negotiating with other realtors and getting help from loan officers to close your deals not to mention help from others such as appraisers, title representatives,escrow officers, insurance agents, etc
Feel free to email me ifyou need specific information about a topic.
Good luck!
1 vote Thank Flag Link Mon May 31, 2010
No advise from anyone need to stop you. Listen to your gut and your valet. Working for yourself has its advantages . You have no one to blame. OOPS only yourself
Some people are meant to go into business for themselves. While others should think twice.
I would think even harder to have a partner..
0 votes Thank Flag Link Wed Jun 2, 2010
Hello Realtrowanabee,

Hmmm. You are going to need to get E and O insurance. Not sure where you are planing to set up shop but since you will be a new licensee it's best for you to work with a company first to get experience and then set up your own shop. Consumers tend to like brands and working for a major franchise or boutique company will give you the experience you need.

Best,

Monique Carrabba
The Carrabba Group
Keller Williams Hollywood Hills
mcarrabba@kw.com
(323) 899-2900
0 votes Thank Flag Link Tue Jun 1, 2010
Why do you want to set up your own shop, specifically?
0 votes Thank Flag Link Mon May 31, 2010
I have relocated from Boston, MA about 15 years ago...I discovered that there is a huge difference in how Real Estate is being conducted here in Southern California. What state are you relocating from? Do they have Escrow Officers or are Attorney's handling the transactions?( Huge difference.) First you need a Broker's License, Liabilty Insurance and mostly knowledge of the business as well as the area. For your own protection you should start with a Reputable Brokerage otherwise you are doing a disservice to you as well as your potential clients. FYI Realtors and Real Estate Licensees are not the same. Based on this comment alone I suggest start learning the business before you think of opening yourself up to liability by having your on practice.
Web Reference: http://www.endrebarath.com
0 votes Thank Flag Link Mon May 31, 2010
Yes, I'm a Realtor in Beverly Hills and in my opinion as another answer stated below it would benefit you to get as much education as you can from a Broker who is already established.

Laws are changing every day. There are many forms and they are updated frequently. I think you should test the waters with someone experience before you jump in. GOOD LUCK
0 votes Thank Flag Link Mon May 31, 2010
You'll need to either get your broker's license or hang your agent license with a broker. You can't go independent with just a real estate agent's license. And BTW, you will have to join the NAR to be able to use the term, "Realtor," in your practice.

Frankly, as a near-new agent myself, I would strongly urge you to work with an established agency at least for the first year or two. There is so much you need to learn, that is not covered in the licensing material! You will do yourself and your potential clients a favor by having some experienced back-up. Good luck!
0 votes Thank Flag Link Mon May 31, 2010
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