Being a Real Estate Broker is a unique career opportunity that we have seen many be very successful here at Realty ONE Group. It takes a certain type of professional to be a broker and ONE that is up for a certain set of challenges and responsibilities. It also requires some additional training, licensing, experience, and expertise. Let’s have a general look at what it takes to become a real estate broker.
What does a real estate broker do?
To put it as simply as possible- Real estate brokers assist with the buying, selling, and/or leasing of residential, commercial, and industrial properties. They are the expert and the manager making sure everything in the real estate transaction process goes as smoothly and seamless as possible. A real estate transaction is one of the largest transactions someone can make in their life, therefore it is critical to have the right real estate broker during that process.
Benefits of becoming a Real Estate Broker
So many! Being a broker gives you the ability to to work independently if you’d like and hire other real estate agents to be a part of your team. As a broker, you manage the staff, oversee transactions, train, develop and educate your team. It’s truly being a business owner and when done correctly, can be quite profitable.
Becoming a broker requires different licensing requirements as well as course and on-the-job training. Keep in mind that the requirements are different for every state so make sure you research what is specific to the state you plan on becoming a broker in:
- Must be working as a real estate agent
- Must get real estate certifications
- Must pass your state’s real estate agent licensing program
- Take a state-approved real estate sales course
- Pass the real estate broker exam
Remember, learning-based professionals are the most dominant and successful in their market. The more you learn, the better your business will be. You will be able to mentor and guide other real estate professionals to grow their own business which in turn, will grow yours.
Studying for your Real Estate Broker Exam
Your broker course will help prepare you for the exam that you must pass in order to become a real estate broker. The course will go into topics such as insurance, contracts, ethics, property management, construction, investments, and also discussing the legalities behind running your own brokerage. The real estate broker exam goes into much more detail on these topics as opposed to the agent exam. Make sure you study!
Starting your career as a Real Estate Broker
There are many paths you can take once you become a certified real estate broker. Unlike an agent, you can now work without supervision. You are free to build your own team or start your own brokerage. You are the boss now. What’s next?