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Chris Ivy, Sell Your House Fast For Cash In Memphis Tennessee (Ivy Vine Investments)

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Rainmaker
1,196,798
Doug Dawes
Keller Williams Evolution - 447 Boston Street, Suite #5, Topsfield, MA - Topsfield, MA
Your Personal Realtor®

Depends on the State you live in. 

Sep 03, 2020 08:02 PM
Rainmaker
1,311,397
John Juarez
The Medford Real Estate Team - Fremont, CA
ePRO, SRES, GRI, PMN

If your question is: How difficult is it to get a real estate license, let me say that I managed to get a license...on my first try. I know others that have taken the test more than once but finally passed. It is not that hard. Pay attention. Study. Take the practice tests. You should do well, Chris.

If your question is: How difficult is it to get a broker's license, I do not have one. I have not sought a broker's license. I am confident that I could obtain one through the regimen of  study and practice and given my 20+ years of experience. If that is your aim, go for it! 

Sep 04, 2020 10:49 AM
Ambassador
3,345,091
Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate Services

It was not difficult for me at all.  I met all the criteria and got my broker license a few years after my real estate license. The exam was a little more challenging than the real estate license exam but that is not where the rubber meets the road.  

I was well prepared, had my office equipment in place, office systems set up, notified the DRE, and I was up and running overnight as an independent broker.  I've never looked back. I truly enjoy flying solo. 

Sep 04, 2020 08:29 AM
Rainmaker
1,844,271
Lyn Sims
Schaumburg, IL
Real Estate Broker Retired

In IL we all have to be brokers. That happened years ago. Then next level up is Managing Broker which no one wants.

Sep 04, 2020 05:53 AM
Rainmaker
921,504
Annette Lawrence , Palm Harbor, FL 727-420-4041
ReMax Realtec Group - Palm Harbor, FL
Making FLORIDA Real Estate EZ

As you have read getting the Brokers license it not hard At all. I they let me have one, it's REALLY not hard.

However, whether one should hang their own shingle is  a very personal issue.  The biggest of which is the purpose to create for your self the greatest latitude to conduct real estate business. For example, as a broker you can accept a herd of cows as compensation. As an agent their broker will say NYET.
Next:  is the intent to build an empire by filling the roster with fluff and stuff agents, meaning as a broker your job is recruiting and herding cats.

When you hang your own shingle you will lose the society that comes with being part of a bigger enterprise. The social and training aspects tend to vanish. However U-Line will send you a catalog every month. YAHOO!

Finally, if you have a very specific market into which you have both vertical and lateral access,  hanging your own shingle is EXACTLY what you should do........is EXACTLY what you should do.
I am finding that agents with a mature real estate business receive little benefit by being part of a franchise brokerage. Everyone will agree, the homeowner/buyer hire the agent not the brokerage. It is a personality business at the grassroots, at the kitchen table.

Sep 04, 2020 05:27 AM
Rainmaker
5,216,381
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Varies by state. Not difficult but time consumng! Do you want to be a solo praticioner or grow an office?

Sep 04, 2020 04:47 AM
Rainmaker
1,502,998
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

To get the license?  Pass an exam and pay some money, once you meet the education and experience criteria (California specific answer).

Beyond that, it depends on what you do with that license and the laws of your state.

Sep 03, 2020 11:08 PM
Rainmaker
1,090,637
Diana Zaccaro Broker Associate
ZOOM Realty Group - Cocoa Beach, FL
"The Accidental Blogger" Cocoa Beach, Florida

Your question is state specific so I can only speak for my state. Here you must first take the Sales Associate prelicense class, pass the end of class exam, pass the State exam and once you are licensed, then complete a 45 hour post licensure course. To become a broker here, you must be active as a sales associate for two out of five years then take the 72 hour broker class, pass the end of class exam and State exam. Once you are licensed, you must complete 60 hours of post license classes before your license renewal date. So first you need to see what the licensing requirements are in your state.

As far as how difficult the classes and exams are, you will probably get a different answer from everyone who responds. My experience was that, if you do the homework (read the book, study and do the chapter quizzes in addition to attending class) it's not difficult but...over 50% of my sales class failed the end of class exam, some never even sat for the State exam. The broker class is likewise, if you read the book, do the quizzes and study outside of class it was not that difficult for me. Same with the end of class and State exams but, again, there are a fair amount of people who either don't pass the end of class exam or, if they do, don't pass the State exam and get their license. 

I do recommend taking the classes in person (classroom) if possible, live stream would be second. There are plenty of online courses but my preferred learning style is classroom and the networking and interaction are a plus. I'm not sure if you're asking about challenges in becoming a broker (licensing) or if you're referring to opening your own brokerage after you're licensed so can't comment on that.

 

Sep 03, 2020 10:04 PM
Rainmaker
2,781,153
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

Its doable if you want it...However, make it count or what is the point?

Sep 03, 2020 07:11 PM
Ambassador
6,393,154
Bob Crane
Woodland Management Service / Woodland Real Estate, KW Diversified - Stevens Point, WI
Forestland Experts! 715-204-9671

First decide why you would want to become a broker rather than an agent.

Then decide whether you want to be a broker vs an agent or a team leader of a team within a brokerage.

Unless you are glutten for paperwork, yours and your agents',  I do not see a need to become a broker.

Sep 04, 2020 08:00 AM
Rainmaker
5,772,575
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Chris,

We second Ryan Huggins - Thousand Oaks, CA answer.  A

Sep 04, 2020 07:13 AM
Ambassador
3,587,835
Anna "Banana" Kruchten
HomeSmart Real Estate - Phoenix, AZ
602-380-4886

Chris I didn't find it difficult at all, in fact it was quite easy. But then again I enjoy learning new stuff. Challenges, yes once you are a broker you will discover that there are many challenges.  It's a good idea to have a few broker mentor buds helping you out along the way....and have an attorney on record to consult if needed.

Sep 03, 2020 08:59 PM
Rainmaker
1,543,623
Thomas J. Nelson, REALTOR ® e-Pro CRS RCS-D Vets
Big Block Realty 858.232.8722 - La Jolla, CA
CEO of Vision Drive Realty - Coastal San Diego

You have to want the increased liability that comes with the license and you best be doing it to hire staff and agents and grow or it seems to be all risk little reward as a solo.

Sep 03, 2020 08:57 PM
Ambassador
2,061,744
Alan May
Jameson Sotheby's International Realty - Evanston, IL
Home is where the hearth is.

It's not like pushing a jackhammer around the highways in the midday sun.  We drive around in nice cars, meet with mostly nice people, and visit nice homes... and every now and again someone writes us a nice check.

The challenges?  Well, there are challenges aplenty.

Sep 03, 2020 08:07 PM
Rainmaker
2,071,025
Evelina Tsigelnitskaya
SIB Realty - Sunny Isles Beach, FL

Chris. 

RE school and get the license it is the easiest part. 

Just remember

Broker - independence. 

Broker - responsibility not just for you, your agents too. 

Sep 04, 2020 07:40 PM
Rainmaker
7,835,407
Roy Kelley
Retired - Gaithersburg, MD

Simply meet the requirements of your state real estate commission.

Sep 04, 2020 07:27 AM
Rainmaker
5,868,472
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Chris, since 1997, all real estate agents are brokers.   If you want to be an employing broker in Colorado - there is a 3-day class.   You have to have at least two years of experience also.    I opened my own company in 2009, and took the EB class to be sure I knew what was expected.   Nothing surprising.

Sep 04, 2020 05:50 AM
Rainmaker
2,182,502
Michael J. Perry
KW Elite - Lancaster, PA
Lancaster, PA Relo Specialist

You could become broker

Sep 04, 2020 05:42 AM
Rainmaker
763,883
Tony Lewis
Summit Real Estate Group - Valencia, CA
Summit Real Estate Group Valencia & Aliso Viejo

It's not difficult if you don't mind studying and taking a long test.

Sep 04, 2020 03:08 PM
Rainmaker
1,052,196
Candice A. Donofrio
Next Wave RE Investments LLC Bullhead City AZ Commercial RE Broker - Fort Mohave, AZ
928-201-4BHC (4242) call/text

If you're a decent agent, theoretically you should not have much trouble obtaining a broker's license but we know that's just the beginning.
How difficult/challenging may hinge on whether you can hire and retain good help. 

I envisioned a happy office with half a dozen techie happy bouncy agents. 
I got an exhausting crew of clueless, entitled corner-cutters who didn't like doing their own work and thought I gave birth to them.

I have had one agent for 17 years, still with me, and the last new person I had was severed in 2009. I had known her for 10 years and she was good at her job, but her personal life became too much drama to produce any profit for the office.

Another challenge is how and what to pay them. Everyone thinks they should have the lowest split with all these perks but it takes money to operate a brokerage and you have to have a solid plan. 

If you are a top producer . . .  you may not enjoy babysitting.

NOW you could have management that handles that for you . . . if it pencils out. 

Just do the math. There is no downside to empowering yourself with a broker's license whether you wish to operate your own shop or not.

Sep 04, 2020 01:12 PM
Rainmaker
900,128
Olga Simoncelli
Veritas Prime, LLC dba Veritas Prime Real Estate - New Fairfield, CT
CONSULTANT, Real Estate Services & Risk Management

Each state has its own requirements. Usually, it's a certain number of hours of additional education plus an exam plus fees.

Sep 04, 2020 11:36 AM