To kickstart your career as a real estate broker, there are specific requirements that you need to meet. Not to worry, though, because I've got you covered with all the information you need to know. Let's dive in!
General Requirements
First things first, you must be 18 years old or older to be issued a license. Age is just a number, right?
If you're a non-California resident, don't fret. There's a provision for out-of-state applicants, so you're not left out of the game.
Honesty is valued in the industry, so it's essential to have a clean record. A conviction of a crime might result in your license application being denied. Stay on the right side of the law!
When it comes to experience, you have a few options. You can either have at least two years of full-time licensed salesperson experience within the last five years, or two years of unlicensed equivalent experience. If you have a four-year degree with a major or minor in real estate, that can also fulfill the experience requirement. Remember, experience counts!
Course Requirements
Now, let's talk about the courses you need to take. To qualify for the real estate broker license examination, you must successfully complete eight statutorily required college-level courses. These courses are designed to equip you with the knowledge and skills needed to excel in the field.
The required courses are as follows:
- Real Estate Practice
- Legal Aspects of Real Estate
- Real Estate Finance
- Real Estate Appraisal
- Real Estate Economics or Accounting
- Three courses from a list of options, including Real Estate Principles, Business Law, Property Management, Escrow, Real Estate Office Administration, Mortgage Loan Brokering and Lending, Advanced Legal Aspects of Real Estate, Advanced Real Estate Finance, Advanced Real Estate Appraisal, Computer Applications in Real Estate, and Common Interest Developments.
Starting from January 1, 2024, the real estate practice course must include components on implicit bias and fair housing. It's crucial to understand and navigate these important topics effectively.
Additional Information
Continuing education offerings won't satisfy the college-level course requirements for the examination. So, make sure you take the necessary courses to meet the standards.
If you're a member of the California State Bar, you're fortunate! You're exempt from the college-level course requirements. Just provide evidence of admission to practice law in California, such as a photocopy of both sides of your California State Bar membership card. However, members of the State Bar must still fulfill the experience requirement, just like everyone else.
The courses you take must be three semester-units or four quarter-units at the college level. Official transcripts are generally accepted as evidence of completed courses. If you're submitting transcripts of other courses, make sure to include an official course or catalog description for evaluation.
These broker qualification courses must be completed at an institution of higher learning accredited by the Western Association of Schools and Colleges or a comparable regional accrediting agency recognized by the United States Department of Education. Alternatively, you can complete them at a private real estate school approved by the California Real Estate Commissioner.
If you've completed courses at foreign institutions of higher learning, they need to be evaluated by a foreign credentials evaluation service approved by the Department of Real Estate. It's all about ensuring consistency and quality in education.
Good news! Once you've completed the eight college-level courses required for the broker examination and license, you're eligible to take the salesperson examination without further evidence of education or experience. It's a win-win situation!
Becoming a real estate broker is an exciting journey. By fulfilling the requirements and gaining the necessary knowledge, you'll be well-prepared to dive into the real estate industry headfirst.
Remember, always stay knowledgeable, be honest, and embrace the opportunities that come your way. The world of real estate awaits!