How to Get a Real Estate Broker License
As a real estate broker, you will enjoy excellent job security in an industry with a healthy income potential. However, becoming a licensed broker requires extensive preparation. So, if you’re seeking a career in real estate, here’s how to earn your license.
Step 1: Obtain a Real Estate Salesperson License
Before you can get a real estate broker license, you must first become a licensed real estate salesperson. To obtain a salesperson’s license, you must:
- Be 18-years-old, or older
- Have a high school diploma (or GED)
- Complete a 75-hour pre-licensure course
- Pass both a criminal background and credit check
- Pass a state-administered exam
Step 2: Work as a Real Estate Salesperson
Once you become a licensed real estate salesperson, you will work in a sales role representing residential, commercial, and industrial properties on behalf of a broker.
Step 3: Draw Up a Business Plan
Once you have gained some experience in real estate sales, the next step to becoming a broker is to draw up a business plan. This document should articulate the services you will provide, set financial targets for your brokerage business, and outline your strategies for marketing and expanding your business.
Step 4: Take Broker Pre-license Courses
After you draw up a business plan, the next step is to take broker pre-license courses. These may include real estate finance and law, as well as laws and regulations specific to the area in which you intend to do business.
Step 5: Pass the Broker Exam
Once you have taken all the necessary courses and gained the requisite experience in real estate sales, then you can move forward with obtaining a real estate broker license. At this point, the final step is to take and pass the broker exam.
Step 6: Launch Your Own Brokerage Real Estate Business
Once you have become a licensed real estate broker, you can launch your own real estate business. You will need to obtain a real estate broker’s bond and a business license, as well as set up a place of business. You will also need to hire qualified agents to work for you.
Conclusion
Becoming a licensed real estate broker is a lucrative career path with significant earning potential. By following the steps outlined above, you can pave the way for a successful career in real estate.