How to Become a Real Estate Investment Broker
A real estate investment broker has a license to manage his own real estate business. The United States Bureau of Labor Statistics classifies the title as simply real estate broker. Brokers’ employ real estate agents on a commission basis to sell homes and investment properties. Becoming a broker requires obtaining significant study and passing an examination. Every state and the District of Columbia requires brokers to obtain a license.
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Instructions
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Complete at least a high school education. A high school diploma is mandatory. Many brokers are college graduates with backgrounds in sales, marketing and finance, although the training is not mandatory for taking the real estate broker's examination.
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Check specific licensing requirements for your state. Check with your state’s department of business and professional regulation or a similar agency. For contact information, call the public library and ask for the name of the state agency in charge of issuing real estate licenses.
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Get some practical experience. Depending on the state, prospective brokers must work as real estate agents for one to three years before becoming brokers. The Bureau of Labor Statistics notes that some states may waive the experience requirement if you have a bachelor’s degree in real estate.
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Become a real estate agent by completing 30 to 90 hours of classroom instruction, and passing the state examination for real estate agents. Classes are taught at community colleges and are also available locally from for-profit companies. Learn about training in your area by contacting area community colleges. Also, many local real estate agencies offer free classroom training for prospective agents.
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Take additional classroom instruction for becoming a broker if you do not have a college degree in real estate. Real estate agents must have 60 to 90 hours of formal classroom instruction before sitting for the state broker’s examination. Licensed agents should check with their broker for options for classroom instruction.
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Pass the broker’s license examination to receive a license to become a real estate broker.
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