How many years of schooling is needed to become a real estate broker? How much $ would you earn? What about a commercial real estate broker...how many years of schooling and salary? What exactly do you do in this job?Thanks!!!!
Depending on your state, a broker is like an office manager: someone who has worked as an agent for X number of years. I am in NC and the laws have changed here. There are only brokers and pre-brokers. Pre-brokers are selling and buying agents. Brokers oversee the agents and have a lot of responsibility and have worked in the field for years. Check on line for real estate schools in your area. Most classes run about six weeks, you take a class exam and if you pas it, then a state exam. It is a tough field to get into because you are representing people in the biggest transaction of their lives. Although you cannot act as attorney, you will need to know a lot of the legal issues in real estate. The salary is commission, so you will make as much money as you work for. There is a lot to being an agent, so don't think of it as just going around looking at homes and collecting a paycheck. You will be required by the Real Estate Commission to take additional classes and pay fees. You need to be strong in math, determined and outgoing. I hope this helps you get started.
Brokers are basically the bosses of the agents. You have to be an agent first and then you take additional testing/courses to become a broker. Typically its required to be an agent for 2+ years first. Salary, of course, is based on sales. You can run an agency or you can just be like a regular agent, except you're your own boss.
Here in Michigan you study and take an exam and are sponsored for your license by a local firm. Then there are continuing class every couple of years or so. As for the money, it is a strictly commission based job and very competitive you usually end up splitting 7-10% of the sale price of the house with the other broker in the transaction. Check your local papers sunday want ads (under sales jobs) for seminars on how to start in real estate sales, they are usually 1-2 hours long and explain how the system works in your area.
From the NJ book... A Broker is authorized to operate a real estate business, to hire salespersons and to charge the company for services. Every real estate company must have one person who is the authorized broker for the entire company; this person is often referred to as the Broker of Record. In order to become a BROKER, a candidate must be at least 18, have a HS education or equivolent, furnish evidence of good character, have at least 3 years of experience as a Licensed SALESPERSON, complete a 90 hour general BROKER pre-licensing course, a 30 hour course on eithcs, agency law and relationships, and a 30 hour course on office management. Also, you must be a citizen with a SSN, and you'll have to pass the State's Exam. A SALEPERSON though (which is what I think you're looking for) requires you to be 18, HS education or equivalent, the moral character thing, a 75 hour pre-licensing course, SSN, legal citizenship, a State Exam and an office to hang your license in when you pass. You can work for a company, who will hang it, or you can pay to have it hung somewhere and essentially work free-lance. Either way, it must be displayed somewhere. As for money, it depends, especially now-a-days. I don't believe that the testing is different for Commercial or Residential either. Go to a real estate agent, and find out about the pre-licensing stuff from them. I went through a local realtor, took a 2-week crash course, took the pre-licensing exam, and then took the state exam.
YES okorder okorder If you do look into Keller Williams because of the information and end up going with them, remember my name when they ask, who would you like to be your sponsor. Just say Paul D. Dziedzic. BEST of luck with your new career!
