How One Can Get a Broker License for Real Estate?

Real estate broker guides their clients through the process of a real estate transaction. When delineating a seller for a real estate property, a broker lists the property for sale, advertises the property, and arranges and oversees open houses and other viewings. When delineating a buyer, a real estate broker works with their client to actuate their needs, locates properties that fit with the client’s needs and budget, helps their client prepare their finances, and takes them to visit the real estate properties. To become a real estate broker, you are required to complete eight DRE-approved courses and then have passed the Broker state exam to get a broker license for real estate.

Steps to get a real estate broker license

Getting a broker license for real estate can be daunting. But with the help of these steps, one can get a real estate broker license easily such as –

Step 1 – Meet the minimum requirements

To get a real estate license, one needs to meet the basic requirement such as –

• Age – One needs to attain an age of 18 years
• Residence – Need to be the resident of the state for which they are applying 
• Honesty – This may refer to your character and criminal record. When filling out the exam and license application one needs to be honest in the history portion. Failing to disclose this information may result in an application denial.

Step 2 – Need to gain the real estate experience

In addition to the basic requirements described above, applicants need to have a certain level of real estate experience before they can become a broker. If you have been a full-time real estate agent for two years in the last five years or part-time for four years, then you are good. Apart from this, there are two other ways to meet the experience requirement such as –

• Need to get a degree from an accredited 4-year college or university with a major or minor subject in real estate
• Have equivalent real estate related experience that is equal to two years of sales experience

Step 3 – Need to complete eight college-level broker course

Unless you are part of the State Bar. You will have to complete eight college-level broker courses before you can apply to take the real estate broker exam. The course of this exam include –

• Real Estate Practice
• Real Estate Finance
• Legal Aspects of Real Estate
• Real Estate Appraisal
• Real Estate Economics or Accounting

Three elective courses (Unless you take Real Estate Economics and Real Estate Accounting, then you need to take only two elective courses)

Like the required salesperson real estate courses. The broker courses can be taken at an accredited institution of higher learning or a private real estate school that is been approved by the Department of Real Estate (DRE). Courses are either be of three-semester units, four-quarter units, or 45 hours in length depending on where you take them.

Step 4 – Get a fingerprint if you have not already

If you are already a real estate agent you can skip this step because it was already completed when you applied for a salesperson license. All other real estate pros that are getting a broker license for real estate for the first time need to get down to a live scan service location to get a fingerprint.  

Step 5 – Submit the combo exam/license application and fees

After completing the eight broker courses it is time to apply! Now fill out the Combined Broker Examination and License Application form. Attach all the supporting documents that prove that you meet the experience and education requirements. On the application, you will be given the option to have the DRE schedule the exam or you can choose to self-schedule. You will also need to note any fictitious business names that will be used.

The final step is to pay the exam and license fees so as to get a real estate broker license. You can pay this fee by check, cashier’s check, money order, or credit card. Once you have paid the fee, then you need to wait patiently. It takes the DRE at least 6-8 weeks to process the applications for the broker license for real estate.

Step 6 – Schedule your exam

If you choose to have the DRE schedule your exam for you. Then you will receive an Examination Schedule Notice with the date, time, and location-based on what you selected in your application form. If you select to self-schedule your real estate exam, an authorization will be sent letting you know you can now pick a test time. To self-schedule or reschedule the real estate broker exam you will need to login into the e-licensing online system.

Step 7 – Pass the real estate broker exam

You will have two years from the time your application is filed to pass the real estate broker exam. Exams are given regularly during the week at one of five locations across the state centers for the real estate broker license exam. All you need to bring with you is a valid photo ID. You will have five hours (two 2.5 hour sessions) to complete the 200 multiple-choice questions. These multiple-choice questions may fall into these seven categories such as – 

• Contracts
• Financing
• Laws of Agency
• The practice of Real Estate and Mandated Disclosures
• Property Ownership and Land Use Controls and Regulations
• Transfer of Property
• Valuation and Market Analysis

The real estate broker exam is taken in electronic format, which is good because you will get your test results immediately. One can also check their result using the e-licensing system five business days after taking the exam. As long as you make a 75% or higher you pass your real estate exam. Now you are eligible to get a broker license for real estate.

Conclusion

Now that you have learned how to get a broker license for real estate. Now you can start your brokerage for the real estate property. One thing you need to know is that real estate brokers need to have strong communication skills to succeed in their field. Throughout the process of a sale of the real estate property, they are in contact with their clients and with other brokers and sales agents. When it is time to close a deal. They must negotiate on their client’s behalf to ensure their needs are met. As real estate brokers work independently, they must also have strong business skills to attract potential clients, manage employees, and handle their brokerage’s finances.

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