Commercial Realtors conduct real estate transactions related to income-generating properties such as office buildings, warehouses, and farmland. As a commercial real estate agent or broker you must obtain a license from the real estate commission of the state in which you wish to conduct business. Although specific licensing requirements vary by state, the basics are nearly the same across the nation.
Things You'll Need
- License and examination fees
- Internet equipped computer
License Exam Requirements
Contact the local real estate commission to determine the specific licensing requirements for the state in which you wish to conduct real estate transactions. According to mortgagenewsdaily.com, requirements can range from the completion of a simple test to several years of experience, educational certification, and the completion of several rigorous examinations.
Follow the link at the end of this article to find a complete listing of real estate commissions by state. Note that this listing begins with Canadian agencies; scroll down to view agencies in the USA.
Complete educational courses aimed at the commercial market as required by your local real estate commission. Some states require that you complete courses from state certified institutions, while others will accept a wider range of educational achievement, or may even allow for a comparable amount of professional experience to satisfy this requirement.
Pass all required state license exams. You may have to complete separate examinations for the status of real estate agent and broker, and you may be required to pass separate exams for residential and commercial licensure.
File all forms required by your local real estate commission. The forms required will vary by state, as with the other requirements. As an example of the types of forms you will be required to file, the Arizona Department of Real Estate at azre.gov requires a broker license application, entity name reservation, original licensure questionnaire, statement of awareness, and several checklists designed to ensure that you have followed all applicable state requirements.
Send all required fees with your completed application forms. As an example of the fees required, the Delaware Real Estate Commission at dpr.delaware.gov lists fees ranging from $69 for a resident salesperson to $266 for a resident broker, as of 2010.
Tips & Warnings
- Your chosen state will likely have requirements for regular license renewal and continuing education. Be aware of these requirements and fulfill them as early as possible; never wait until the last minute to meet your license renewal requirements.
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