If you are thinking about starting or extending your career in Real Estate, one of the career tracks worth exploring is that of a Real Estate Broker. Like any profession, the more you know and understand the nature of the business, the more informed of a decision you can make about whether it is right for you to achieve your personal and financial goals.
Research The Requirements
As a Real Estate Broker, you’ll have a responsibility to serve your clients ethically and professionally. To be the best Real Estate Broker you can be, you should know the facts when buying and selling real estate properties, follow the sometimes complex laws and regulations, and assure that you meet all training and license requirements in the geographical areas you’re planning on serving. Additionally, you may consider taking free online training that covers multiple aspects of the Real Estate Investing industry.
Real Estate Broker Job Responsibilities
Not sure how a Real Estate Broker is different from a Realtor? One of the critical services that Real Estate Brokers provides is helping their clients buy, sell, lease, or rent their properties. Brokers are licensed to manage their real estate business, whereas Agents must work for licensed real estate brokers. One of the notable differences is that Brokers may work as managers for other real estate companies in addition to their own. In many cases, real estate brokers act as an intermediary between purchase and selling parties. Additionally, they may determine the fair market value of properties and handle paperwork related to the sales transactions. When working for the seller, a broker lists and markets the home. If working for a buyer, the Broker’s responsibility is to find properties that match what the buyer wants in their next home and accompanies them when viewing potential homes. In some cases, they may work with homeowners who wish to rent their property.
Real Estate Training and Education
Real estate training and continuing education help assure that you remain competitive in the changeable real estate industry. Online learning and mentoring programs offer the best of both worlds by connecting you with people who are already successful in the field of real estate. To work as a Broker or an Agent, you’ll need to assure that you have all the training and licensures required to operate in your preferred market area. Typically, this includes passing a licensing exam. Previous experience as an agent is necessary before applying to become a Broker.
Becoming A Real Estate Broker
To get a Broker’s License, applicants must complete 60-90 hours of formal training. Additionally, one to three years experience selling real estate is required. Topics covered in the licensing exam include real estate transactions and applicable laws. This exam is more comprehensive than the Agent exam. For individuals who wish to own their own firms and work with others, getting a Broker’s License is key to meeting these objectives. Further, when positioned as a broker, you may get the opportunity to grow your business in other ways such as real estate investing and mortgage financing.
Learn Something New Today!
If you are thinking about becoming a Real Estate Investor, you don’t have to be a licensed Broker. National Real Estate Investors Group is excited to offer FREE REI Training to help get you started.