floppymcshove
07-20-2007, 03:13 PM
licence,a brokers license, or both? Im interested in getting my real estate license and there are two different licenses to get, the salespersons license and a brokers license. I think I just need the salespersons license to be an agent and collect commison but Im not sure.
Mary B
07-21-2007, 10:11 PM
If you have a salesperson's license, you need to work under a broker.The requirements for a broker vary widely with each state, but usually if you have a broker's license you can work for yourself, and don't need to be underneath another's license, unless your state has further restrictions.However, it's not a simple process such as "boom", you are an agent...there are alot of fees involved and you need to work with someone who thoroughly understands the process.The purpose of real estate school is not to teach you how to work in real estate, but to teach you how to follow real estate law and real estate ethics.
Richard M. Johnston, Realtor
07-22-2007, 07:36 PM
The salesperson license is easier to obtain and yes, you can be paid a commission but keep in mind your broker will want a portion of it.
in most states, you need it..
linkus86
07-22-2007, 09:27 PM
In most states a sales person/agent license is your first step. The idea is that you work in a sort of apprenticeship under a broker as you learn the business. Where I live the minimum time is two years. Often agents, while eligible, don't want to become brokers to work on their own because there are added liability issues that come with it. And, you are right, you need to be a licensed Realtor to collect commission from a real estate deal (it is illegal otherwise!)