How to Get a Real Estate Broker License

There are three types of professionals who operate in the real estate markets to sell property on commission. These are salesperson, licensed brokers and realtors. There is a subtle difference between the three, but on the whole, it can be said that a broker is a more credited and recognized professional, as the real estate broker license is granted by the Department of Real Estate or the Department of Licenses of the said state.

A license is granted only after an applicant goes through a certain coursework and a licensing exam. In the following paragraphs a brief overview of the licensing exam course work and the advantages of taking up the licensing procedure has been described.

Getting the License

The United States being a Federal system, the affairs that are related to real estates come under the jurisdiction of the state governments. All the state governments have a Department of Real Estate, that governs all issues relating to real estate.

Thus, in case, if you are interested in real estate as a career prospect, you can visit the official websites of the said departments. The broker license is of course, governed by these departments. The conception of license was introduced in order to cater to the governance of the real estate markets, sales and purchases.

From the governance point of view, the big problem with real estate investments is that the area of land that is in existence is limited whereas the population is ever-increasing. Thus the need or demand for land is always on the rise, whereas, the availability tends to be limited. This has of course led to prices shoot up and remain high. Such conditions have increased the complexity of the real estate market, which has prompted governments to introduce authorization for real estate professionals.

Since state governments control the licensing procedures and governance, you will have licenses that will differ as per states, such as California broker license, New York broker license. Though some specified applicant requirements differ from state to state, there are some general and common requisites that need to be fulfilled to become a licensed real estate broker:

  • The primary requirement is that the broker needs to be an adult (at least 18 years of age) and should be a citizen of United States and a resident of the said state, though some states allow out-of-state applicants.
  • Most of the states require from the candidates to have at least 2 years of experience of real estate transactions within preceding 5 years.
  • Applicants need to complete 8 statuary courses which generally include, Advanced Legal Aspects of Real Estate, Advanced Real Estate Finance, Advanced Real Estate Appraisal, Business Law, Computer Applications in Real Estate, Common Interest Developments, Escrow, Legal Aspects of Real Estate, Mortgage Loan Brokering and Lending, Real Estate Practice, Real Estate Finance, Real Estate Appraisal, Real Estate Economics or Accounting, Real Estate Principles, Property Management and Real Estate Office Administration. In some states a classroom coursework worth 30 to 90 hours is also required.
  • In some states, real estate attorneys or certain college graduates with related degrees are granted exemptions in the coursework.
  • In certain cases, the coursework is divided into groups or semesters, and the classroom coursework is to be taken up at certain credited institutes of higher learning.

There are a considerable number of advantages of taking up the broker license. For example a licensed broker is authorized to prepare contracts and leases, do residential appraisals, prepare certain sales documents, do a comparative market analysis, charge customers on an hourly basis and also hire sub-brokers, realtors and salesperson. Basically, a license gives you more recognition when you conduct a real estate deal or real estate negotiations.

The basic advantage of the license is a genuine recognition in the real estate market, not to mention a really good real estate broker salary. Note that the coursework that is involved in obtaining a broker’s license is not exactly simple, and a lot of hard work has to be put into the coursework in order to clear the exam.

Advertising Ideas for Realtors

Being a realtor is not a difficult task, if you have an ability to convince, persuade, and close down a sale. However, in order to be seen by customers as the best realtor from the entire lot, marketing is necessary. Hence, the need for advertising. Let us have a look at some interesting ideas to advertise your properties.

Website

Creating a website for your firm is one of the great ideas and is a popular advertising technique. You can make it informative and attractive while still keeping it professional. Provide sufficient details about properties and update the website regularly. Add a section to invite questions from potential clients and also give complete contact details. You could have a comment box, wherein your previous customers can comment on their experience, or can share articles on the same. Ensure that your website is regularly updated and also see to it that you reply promptly to any queries raised.

Publicize

Publicize the name of your firm by distributing leaflets. Mention some famous properties which you have sold successfully that people can easily recall. Mention about any additional service like housecleaning service, or lawn service you will be able to provide at some discounted rates. Think of other innovative ways to attract more clients to your firm. Not only are leaflets cheap advertising idea, but they are also effective as you can cover lots of ground by distributing leaflets.

Yellow Pages

Yellow pages is another most popular idea. Ensure that you have a big page, all to yourself, in the yellow pages. There too, you can mention some of the additional services that you can provide. This will certainly give you the edge in comparison with your competitors. The advertisement in yellow pages should be professional, at the same time, it should be more appealing.

Magazines

You can place advertisements in home decorating magazines and interior decorating magazines. Place them at strategic positions so that they can grab the reader’s attention. You can ask previous clients to say something about your firm and the services offered by your firm. These testimonials from your clients will be of great help in boosting your prospective client list.

Fairs

Property exhibitions, small and big community fairs are very common and can be some of the best places to let people know about your firm and the services it provides. Stalls at a fair can be one of the popular ideas. Book a stall and ask all the people who visit your stall, to give you their email id’s, so that you can keep them informed about your listings. Also collect their business cards, if possible. This will help you in making your own database. You can later keep on increasing the database with continual contacts with these people, and by asking them for more references.

Malls

Mall is a place where you will find many people. Set up a stall at a strategic location and distribute leaflets and business cards to people. This is a good way of increasing your database. If you go on a weekend, or in the evenings, you will be able to access more people. This could become a free advertising idea or if you are required to pay money, it will be minimal.

Other Websites

In addition to having your own website, you could also enlist the name of your firm on some other websites which help in advertising. Such sites can help you to increase the number of prospective customers, as they reach out to a lot of people at the same time. Ensure that all your contact details are updated regularly.

One can even consider ‘word of mouth’ publicity which always helps. Request your customers to mention your name to their friends and family, who are looking out for properties. You could go to some charity or fundraising event and drop in your business card. One thing that you need to do is to keep your database updated and ensure that all your customers get the same kind of treatment, in order to be successful at home selling.