Whoa, doggies! It’s a brand new year, filled with possibility
and potential. I wish you all grace and joy for each day.
My broker’s license expires this month. When you’re in real
estate, you can get either a salesperson license or a broker’s
license. The main difference is that once you are a broker you are
able to work independently, not under the auspices of a real estate
brokerage.
Whoa, doggies! It’s a brand new year, filled with possibility and potential. I wish you all grace and joy for each day.
My broker’s license expires this month. When you’re in real estate, you can get either a salesperson license or a broker’s license. The main difference is that once you are a broker you are able to work independently, not under the auspices of a real estate brokerage.
For instance, I work under the broker license of Gino Blefari, the head of Intero Real Estate Services. Because I choose to do that, I pay a percentage of my commissions to Intero. Why do I do that? Because Intero offers me a lot of service in return for that investment. I have excellent clerical support, managerial expertise, legal support, camaraderie, group advertising, and a beautiful office in a great location.
However…I am free to walk from there any day, and take my clients with me if they want to go. I am able to start my own brokerage and have salespeople work under my tutelage. I choose not to do so because I don’t want the headaches, stress, or responsibility. But it’s nice to know I could if I changed my mind.
To get a salesperson license, you need to take one course and then pass the licensing exam. To get a broker’s license, you need to take a number of college-level courses in real estate financing, accounting, etc.
Every four years in order to keep one’s license current, an additional series of courses are required. These include trust handling, fair housing laws, and ethics. Often these courses are rolled into a one-day event.
When I renewed my license in 2003 I had to send a written application, photocopies of the course certificates I received when I attended courses, and a check through the mail. Naturally, photocopies were required because who knows what happens to them once they pass the portals of the Department of Real Estate office in Sacramento? I mean, the guard dogs might eat packages as they come through the mail slot for all we know. Then I had to wait for about four weeks, hearing nothing as the date of expiration for my license ticked closer second by second. I was lucky enough to receive my license before the old one expired, but it was not an easy or stress-free experience.
All I can say to the Department of Real Estate is, “You’ve come a long way, Baby!” This year I signed onto the website, typed in the number of the certificates for the courses, gave them my credit card information (Hope they’re not all on permanent vacation in the Cayman Islands now!) and within minutes the date of expiration had been changed on my file on the website. Much better experience. I still have to wait for the little piece of paper, but I have proof of the process and approval. Yipee!
Curious how much the fee is for a five-year broker’s license? $165. That’s not much, but it is a drop in the bucket. In order to be a member of a local association of Realtors, you must be a member of the California Association of Realtors (CAR) and the National Association of Realtors (NAR). There is also a political fund for lobbying to which most members contribute.
Whoops. Almost forget the other fees: Realtors pay for their own promotional materials such as business cards, brochures, and any mailings you might receive. And of course there is the cost associated with on-going education. And we need insurance such as medical, dental, liability, errors and omissions, car, and vision. None of that is included in job benefits.
Actually, there are no job benefits. No paid vacations or sick time. In fact, there is not even pay unless a deal closes!
Don’t get me wrong. I am not complaining. I love being a Realtor and I love having the opportunity to share a small snapshot of it with you each week here in the paper. It’s a good life, as I have been known to say on occasion.
It isn’t an easy profession even though vast numbers of people think is. I mean, what is there to it besides driving around in a nice car showing people houses? Let me tell you, many people enter the field each year, only to be amazed at how complex, difficult, and stressful it is.
It requires a special skill set. You have to be good with numbers. You need to be able to keep a million details straight in your mind at one time without losing it. You need to be able to act as a bit of psychologist…people usually sell real estate at times of change (new baby, death in the family, loss of a job, job promotion, etc.) that can be extremely difficult. You have to be a creative problem solver. You need to have marketing skills. You need to sell houses and your services. You need to be able to think on your feet and be flexible enough to roll with the punches.
So be kind to your Realtor!
