How to Become a Real Estate Broker

As a real estate broker you will not only help homeowners realize their dreams, but you can help real estate agents build their careers as well. Read on to learn how to become a real estate broker and get started on this emotionally rewarding career path.

Becoming a real estate broker requires training in sales, real estate law, and business management. You'll first need to be licensed as an agent and spend time working in the field before applying for a broker's license. Brokers can either work independently or hire other agents to expand their business.

• As a real estate agent, you assist people and businesses in buying, selling, and leasing property while being supervised by a broker. Real estate agents cannot work independently. A real estate broker not only assists people and businesses in buying and selling property, but is also licensed to manage other agents and run their own business. If the management aspects of the business (and the increased income potential it represents) appeals to you, you might be suited for a career as a broker.

• Every state and the District of Columbia has a government agency devoted to real estate. The specific requirements for licensing are determined by each state board, so requirements vary between states. In general, however, most states require you to:

1. Be at least 18 years old
2. Have graduated from high school or hold a G.E.D.
3. Pass a written exam. Some states require a minimum number of hours of course work before you are permitted to sit for the exam
4. Submit to a background check

• As with agents, brokers are licensed by individual states, so requirements may vary. In general, a real estate broker should have:

1. A valid real estate agent's license
2. One to three years of experience as an agent
3. 60-90 hours of brokerage training
4. Passed a written brokerage exam

• While not required, courses in finance, business administration, marketing, and accounting will also be helpful.

The real estate market is in a constant state of flux. Home values tend to go up and down, and neighborhoods themselves can change by becoming more prosperous (which would raise the price of housing) or more decrepit (which can drive home prices down). In order to work in the real estate business, you will need to keep up with the ever changing market. It is likely that you will naturally be exposed to the ups and downs as you interact with others in the business, but it is a good idea to make it a point to research the latest trends in order to do the best job that you can as a real estate broker.

• In order to become a broker, you need to have satisfied your state's requirements for real estate agents as well as those for brokers. While becoming a real estate broker takes more work than becoming a real estate agent, it permits you to operate a business with unlimited earning potential.

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