To get a real estate broker license, applicants must apply to take a written examination, and upon successful completion of that examination can submit their request for a license to their local governing body for approval. Applicants must also submit proof of related work experience in the field of real estate, or have completed similar course work through a university. An application and licensing fee may be charged by the regional licensing authority, which must be paid upon initially becoming licensed, and when renewing annually.
All aspects of real estate transactions are typically regulated by a local governing authority, to ensure fairness and honesty in the business dealings. Individuals are, therefore, licensed to be a real estate broker in the specific region in which they live. Brokers can hold different licenses for multiple regions at one time, as well. A separate application may be required for those who wish to receive a real estate broker license in an area in which they do not live, and accepted candidates must often be employed by a regional brokerage firm. Applicants can benefit by visiting the official government website for their region to determine what qualifications are necessary for receiving a broker license, or they can contact by phone or mail the local Department of Real Estate.
In addition to completing a written examination, applicants must prove that they have an adequate amount of experience working in the field of real estate. Experience is based on whether an individual has been working as a full time real estate salesperson for two years for a minimum for 40 hours per week. Part time real estate agents can apply for their real estate broker license after they have completed four years in the field. Each regional brokerage licensing agency usually requires candidates to provide current information for the firm for which they worked, so that the agency may contact them to verify the applicant's claims.
Some licensing agencies are often willing to accept comparable levels of education in lieu of an applicant's two or four years of salesperson experience. A four year undergraduate degree can qualify as appropriate experience in the field of real estate, provided the student took specific classes related to this area of study while in school. Required courses may include real estate law, real estate finance, and real estate appraisals, among others. Those who already hold a degree in law and are members of the regional bar association in which they are applying for a license may also qualify to take the examination for the real estate broker license without meeting the requisite two to four years of sales experience.
