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| *Ostroff, Fair and Company>>>Renting & Real Estate |
To sell a house and receive commison do you need a real estate salesperson 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. 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!) Source(s): I am a Realtor 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. 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 will need to start as a salesperson. Good Luck, most of us are starving in this business. It's very easy to get into, and extremely hard to stay in. Yes, you will need a salesperson's license to be able to sell another person's real estate property & collect a commission. Once you have your license, you will have to find a BROKER to work under in order to use your license. If you are selling your own property (real estate investor), you do not need a license. Good luck! Profession: Home Asset Portfolio Builder/Realtor庐 - California, http://blog.360.yahoo.com/atebz,... http://www.peraltarealestate.com/reports... http://www.realtydirect.net/news/?pub=15... |
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