Getting a Real Estate License in the US
- By Tin Lam
- Published 12/3/2011
- Real Estate
- Unrated
What does it take to get a real estate license in the United States? A real estate agent or broker acts as an intermediary between the buyer and the seller of real estate or property and must have a real estate license. The profession itself comes from English Common Law and in the United Kingdom the broker is known as an estate agent. The agent must have a real estate license before they can receive any commission for their service.
In the US most real estate agents enter into an agreement with the seller and work to find someone to buy the seller's property at the highest possible price. The agent with a real estate license might also work exclusively for a buyer and attempt to find the buyer a property at the lowest possible price. In either situation there must be a written agreement between the agent and the client in order for the agent to be paid for their services and as previously mentioned the agent must have a real estate license.
In the United States the granting of a real estate license falls to the individual states that the broker or agent lives or works in. Each individual state has control over many of the aspects of the real estate license and what a broker can do and what they must do. In some states lawyers are allowed to act as sales agents without a real estate license. There are also two levels of real estate license recognized in most states and they are the real estate
salesman and the real estate broker.
In order to attain a real estate license as a salesman, the prospect must take a certain number of hours of coursework as determined by the specific state and then pass a state licensing exam. Then the person with a salesman's real estate license must work under a licensed real estate broker. The broker has a real estate license with the authority to own their own agency and hire agents. The broker is then entitled to a percentage of each of their agents commissions. An agent must have his real estate license for several years under a broker before becoming eligible to test for a broker's real estate license. The few exceptions to this are in certain states college graduates may test for the broker's real estate license without having been an agent first. In addition California allows lawyers to test for the broker's real estate license without having a sales license first. In New York lawyers may become brokers without taking any test or courses.
In most states you can take a pre-licensing course of 60 hours and then be tested for a real estate license. Most states issue real estate licenses for a period of years after which the agent or broker must complete a certain number of continuing education hours in order to maintain their real estate license. Again most states will recognize a real estate license from another state but not all will. Before attempting to practice in another state the agent must check into the requirements of that state for a real estate license.
In the US most real estate agents enter into an agreement with the seller and work to find someone to buy the seller's property at the highest possible price. The agent with a real estate license might also work exclusively for a buyer and attempt to find the buyer a property at the lowest possible price. In either situation there must be a written agreement between the agent and the client in order for the agent to be paid for their services and as previously mentioned the agent must have a real estate license.
In the United States the granting of a real estate license falls to the individual states that the broker or agent lives or works in. Each individual state has control over many of the aspects of the real estate license and what a broker can do and what they must do. In some states lawyers are allowed to act as sales agents without a real estate license. There are also two levels of real estate license recognized in most states and they are the real estate
In order to attain a real estate license as a salesman, the prospect must take a certain number of hours of coursework as determined by the specific state and then pass a state licensing exam. Then the person with a salesman's real estate license must work under a licensed real estate broker. The broker has a real estate license with the authority to own their own agency and hire agents. The broker is then entitled to a percentage of each of their agents commissions. An agent must have his real estate license for several years under a broker before becoming eligible to test for a broker's real estate license. The few exceptions to this are in certain states college graduates may test for the broker's real estate license without having been an agent first. In addition California allows lawyers to test for the broker's real estate license without having a sales license first. In New York lawyers may become brokers without taking any test or courses.
In most states you can take a pre-licensing course of 60 hours and then be tested for a real estate license. Most states issue real estate licenses for a period of years after which the agent or broker must complete a certain number of continuing education hours in order to maintain their real estate license. Again most states will recognize a real estate license from another state but not all will. Before attempting to practice in another state the agent must check into the requirements of that state for a real estate license.
Tin Lam
Thinking about getting your license in the real estate field? Get the low down on the best real estate license courses now in our guide to real estate license classes online.
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