Want to become a Real Estate Broker? Awesome. It can be a rewarding career choice that is also very lucrative for those who are hardworking and build a solid business. So, what is a real estate broker and how does it differ from being a real estate agent?
A real estate broker is someone who helps individuals find the right real estate to purchase or the right buyer for the real estate they want to sell, just like a real estate agent. However, there is one distinct difference between agents and brokers. The difference is that brokers can go out on their own and open their own small business whereas agents must operate under the supervision of a broker. So, just how does someone become the boss, or the broker?
To become a real estate broker, the first step is to gain licensure as a real estate agent. This requires you to attend an accredited real estate agent program and then sit for the licensure examination. During your initial education, you will learn things like the legal and ethical aspects of buying and selling real estate as well as real estate finance, how to negotiate contracts, how to deal with taxes and insurance and more. Once you become licensed, it is imperative that you spend some time working as an agent to get your bearings as well as begin networking.
Your job as an agent will be overseen by a broker. This broker can help you with your professional development goals by helping you find additional educational opportunities as well as providing mentorship in the brokerage they operate. Your continuing education will include topics such as how to legally operate your own brokerage as well as investing in real estate, the basics of property management, business law and more.
Once you achieve the next level of education, you can sit for the broker examination. Once you achieve broker status, you can choose to open your own brokerage or work as an associate broker while you continue your skills and broaden your network.
It is important to note that in order to receive your broker license, you will have to undergo a rather extensive background check which will include criminal history. Why does this matter?
Any number of crimes can prevent you from becoming a broker, including such mundane crimes as OWI, if they are excessive enough or egregious enough to be considered more than just a misdemeanor.
Arrest Records for any crime are problematic for prospective real estate brokers and can prevent you from becoming licensed, no matter how well you performed as an agent or how well you scored on your examination. This is why it is important, as a prospective broker or as a sitting broker, to keep your background free from arrests and/or convictions.
For those who are thinking about becoming a Real Estate Broker, keeping your background free from Arrest Records. Visit today to learn more.