How to Become a Real Estate Broker?
In many aspects, you may think that real estate agents and real estate brokers are the same, but they have some basic differences – Real estate agents have a professional license to help people buy, sell, and rent real estate. They are required to work for brokers they cannot work independently.
Whereas, Brokers are real estate agents who have completed additional training and have earned their broker license. They can work independently and hire other real estate agents to work for them.
Here are a few Basic Tips to become real estate agents:-
1- Take up courses related to real estate:
It’s good to have more knowledge about real estate if you are going to become a broker. There are different state-approved courses that you need to take up first in order to become a real estate broker. These courses will teach you about all the basics of real estate like legal issues of real estate, finance in real estate, insurance, taxes, etc. It is very important to take up only those courses which are approved by the state licensing board to qualify for your license.
2- Be a Part of Real Estate Agent Unions:
There are some state-approved unions and a national union that you can join to enhance your network. You must have a license as a real estate agent to become a real estate broker. These unions organize events and workshops from time to time on subjects like how to close a deal, negotiation, real estate law, etc.
3- Work as a real estate agent first:
In order to start training as a real estate broker, you first need to have work experience as a real estate agent. There are different requirements for real estate brokers differing from state to state, but generally, you need to have a work experience of 2 – 5 years as a real estate agent and a certain number of real estate transactions. This experience is important because it will help you build a reputation and network as an agent before you become a broker.
4- Requirement of real estate certifications:
To build a good reputation and credit among your clients you need to earn certificates by specializing in different types of real estate. These certificates show that you have knowledge in different fields in real estate itself and you can be a source of benefit for your client. You can earn certificates by taking up different courses and passing the exam.
5- Advance real estate broker course:
This course will be different from the basic courses which you took earlier (mentioned in the first point). Once you gain experience as a real estate agent, then you can take up more advanced real estate broker courses. These courses will take you into more detail covering topics such as ethics, contracts, legal issues of running a brokerage, property management, construction, real estate investment, etc. After completion of these courses, you will have a much wider perspective in the real estate field as a broker.
6- Take license from Approved Authority:
Govt of India launched Real Estate Regulatory Authority (RERA) to save property buyers. In this act real estate broker has to take a license to sell new projects. So before starting a work take it.
