For one thing, a California Real Estate Broker's license, gives you more options and most likely a higher percentage split, even with no experience. Also, you will have more options down the road. Interview several agencies in your area and ask their opinion.
The fees are a little more but the pay is higher also!
FYI: The California Broker test is 5 hours long and the Salesperson's license is 2.5 hours long.
I am a seasoned agent and would not sell my own home. I would co-broke.
If you are taking the responsibility as your friend's agent in a broker capacity (if you are even allowed to do this in CA) you are taking on a lot of responsibility and possible liability.
Wish you luck.
I would suggest an agentâ€™s license and that you find an office willing to work with you and teach you what we actually do every day. Classes are great but even in driving school you need real time on the road with an instructor before you receive a drivers license. There is so much to know for you to take care of your friends and your own property that working for someone else, learning as phases of the business makes the most sense to me.
If you decide to stick around and make this a career, you can always get a brokerâ€™s license later.
It would be better for you to refer these 5-6 friends to an experienced Realtor then to lose these friendships due to inexperience and a lack of training. Since you have no intention to start a Real Estate Career, this would be in the best interests of your friends.
I have to be a real state first and after couple of years can be a broker?
I can start now for a broker directly and if I can be a broker directly,how long is a take from now on?
I think it is better to get a broker license to begin with if you can. For broker license you need to to have eight courses and fee (exam + license) is $395. For sales agent you have to take three courses and fee is $305. So there is not much difference in the fee. I suggest you take the broker license and keep your options open. With broker license you can have your own brokerage down the road, you can go to property management without worrying about passing the exam again. I got my broker license and I am happy that I did.
Good luck with your upcoming exams.
First, if you get an agent's license you will have to work under another brokerage as you cannot do transactions on your own. But since you don't plan to have a career in real estate that isn't an issue.
With a broker's license you can transact business on your own, but you would be doing your clients an extreme disservice by doing this yourself without market knowledge or experience as you could cost them a lot of money and/or headaches.
Since the broker exam is also much more difficult to pass I would take the agent exam, then find a reputable firm who is willing to bring you on and guide you through the transactions.
Lance King/Owner-Managing Broker
Honestly, the license is a piece of paper - it's experience and knowledge of the industry that makes you either an Agent or a Broker.
Real Estate is an extremely complex market right now. The CA test for either license will NOT teach you real estate by any means!
I agree with one of the other answers regarding the liability. It's huge! Especially in CA!
Definitely pursue your AGENT license first, get experienced in the field and then seek the broker's license. Once you start educating yourself on the industry, you'll find it's not easy. Many experienced agents will pay a referral fee for a client.
The few dollars (especially in this market) made on a transaction, is not worth losing a friendship or being held liable for errors within the transaction.
Best of Luck! You may find that you really like the industry and make it your career too!