Nuances On Getting a Real Estate Broker’s License

1. The general rule is that you must complete eight college courses to qualify to take the Brokers exam. Most recent Salespersons have completed three of these, and specific courses taken in College apply regardless of when completed.
2. The applicant must submit proof that they have worked in the real estate field two years full-time or 
3. If a person graduated with a four year degree (major or minor in Real Estate), this will substitute for the experience requirement in #2.
4. Until recently, a four year degree in any major would have substituted for the experience, but this has eliminated.
5. Proof of experience includes form RE 226, Employment Verification from their broker where he/she/they lists how many transactions the applicant completed, including listings, sales, trades, leases, rentals, loans, syndicates, or security sales. Also, the form asks for approximate earnings during that period and the question, “Did the applicant have other employment or business activities”? and if yes, explain. Finally, it asks for work time devoted, hours per week, and time of employment.
6. Above the verifying broker’s signature is a statement that false certification is basis for suspension or revocation of their license. So it would be very difficult for someone to get a license for two years, do nothing and expect to sit for the broker’s exam.
7. More forms: An Employment Certification Form when it is “absolutely impossible” to get the past broker’s signature (death, retirement), etc. This form can be used by Out-of-State Brokers to explain their background.
8. Equivalent Experience Verification #RE 227, revised 5/15. This form is for anyone who has worked in certain real estate related business as an unlicensed person. This one must be signed by two verifiers who are not related by blood or marriage. Lots of proof is needed (1099’s, W-2s, proof of ownership of properties, etc.)
9. What are some examples for Number 8? Escrow, Title Officer, Loan Officer on Real Estate, Sub-divider, Contractor, Spec. Builder, Appraiser, Property Manager, two years real estate experience by a Lawyer, etc.

You may have other questions we have not addressed. It is recommended that you call or email our office about your situation. Our experienced and knowledgeable staff are here to help guide you.
See you in class!
No comments yet.

Leave a Reply

More Information & Classes -