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walter shui, Real Estate Pro in pomona, CA

Getting a real estate License,have no experience, Broker or Agent?

Asked by walter shui, pomona, CA Mon Jan 10, 2011

I'm a college graduated student with business major, recently i took all the classes that required for broker license. After i submitted the application for the DRE exam, i have 2 options, either take the broker or the agent exam. I have no experience, and i'm getting the license because i need help 5-6 friends as their buyer agent to buying their houses also i own couple houses and i planed to sell it by myself once the economy is getting better.
my question is it is better that get a Broker or an Agent license? i am not intend to start real estate career or a company, just getting the license for show and buying house for people around me and sell my houses in the future. any answer will be appreciated, thank you!

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Walter. S: Yes, you can be a California Licensed Real Estate Broker, and work under another real estate broker, it's called a "Broker Associate". I got my Salesperson license first and then obtained my California Broker's license, but wish I would have had my Broker license from the beginning.

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.
2 votes Thank Flag Link Mon Jan 10, 2011
Why not let your friends hire an experienced agent with you as their guide. Depending on the type of home they are buying, conventional sale, short sale, foreclosure - without experience, you could be doing your friends a great disservice.

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.
Web Reference: http://www.lindacefalu.com
1 vote Thank Flag Link Mon Jan 10, 2011
Most states require you work as an agent for a specified number of hours and a year before you can obtain your brokers license, you should check to see if this is a requirement in CA. Classes will teach you the laws, the vocabulary words, the lingo and some math formulas but learning to be an agent is done through exoperience. Usually an agent has to work under a broker for at least a year before being able to get a brokers license to get this experience. Once you have teh agents license you still need resources and access to the MLS through joing the board of Realtors and a brokerage that can support your abikity to find houses, show houses and write offers. It is not as easy as getting a license and being in business to be able to to all that.
Web Reference: http://www.ScottSellsNH.com
1 vote Thank Flag Link Mon Jan 10, 2011
Walter,
I would suggest an agent’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 broker’s license later.
1 vote Thank Flag Link Mon Jan 10, 2011
The Real Estate transactions is fraught with possible problems and snafu's. It likely will cause a strain on your "friendships".
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.
0 votes Thank Flag Link Mon Apr 20, 2015
I'm not a college graduate but I pass some courses couple of years ago and I really wanna be a broker so what I have to do first?
I have to be a real state first and after couple of years can be a broker?
Or
I can start now for a broker directly and if I can be a broker directly,how long is a take from now on?
0 votes Thank Flag Link Mon Apr 20, 2015
HI Walter,
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.
0 votes Thank Flag Link Mon Jan 10, 2011
I gave Jane the thumbs up - that is a great answer. Because you can take the Broker test - you should take it.
0 votes Thank Flag Link Mon Jan 10, 2011
I would say the agent license is a better option for you, since you do not plan on having this as your main career, but would rather keep your license for a long time. Both the educational requirements and fees are lower when you have an agent's license.

Good luck with your upcoming exams.
0 votes Thank Flag Link Mon Jan 10, 2011
First, thanks a lot for the suggestions above. actually i did schedule the broker exam on 2/2 and been studying for it . As you guys said that i should be an agent and learn the experience before become a broker, but if i become a broker can i work under any real estate companies as well? do i have to get an agent license in order to work with other broker and companies?
0 votes Thank Flag Link Mon Jan 10, 2011
Walter,

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.

Best Regards,

Lance King/Owner-Managing Broker
lance@fixedrateproperties.com
415.722.5549
DRE# 01384425
0 votes Thank Flag Link Mon Jan 10, 2011
Walter -

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!
0 votes Thank Flag Link Mon Jan 10, 2011
Great response!
Flag Tue Feb 11, 2014
For your current short term needs - Agent License will do!
Good Luck.
Web Reference: http://www.321property.com
0 votes Thank Flag Link Mon Jan 10, 2011
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