Little Background:

I’m currently studying for my CA Broker exam. I was recently part of a “reduction in force” in the telecom industry after 15 years. I anticipate taking my test in early to mid spring of 2007. I am using education in lieu of experience. I do not have any real estate experience under my belt, and hope to work for a larger agency that has an excellent training/development program after I obtain my license. I know I have to pay my “dues” and learn the ropes from an experienced agent/broker. I do not want to get my license and set out on my own, knowing I would not be doing justice to my clients, the industry or myself.

I’m working directly for my broker’s license because I’ve got the time, am receiving severance for the next few months, and figure it’s better to do it this way vs. finding another full-time job and trying to study and/or losing sight of my goals/dreams when caught up in the daily work routine. Also, by obtaining my broker’s license I feel it would provide me with a wider range of career options vs. a salesperson’s license.

Questions:

I’ve received conflicting advice on whether I should get my salesperson’s license out of the way first and go to work for an agency as soon as possible, or go directly for my broker’s license. What would you recommend & why?

Also, how likely is it that a broker or larger agency will be willing to pick me up under their license if I have my broker’s? Would you recommend contacting these agencies now or waiting until I’ve passed the exam and have license in hand? I do feel as though I should get some residential agent experience, just so I can have a better understanding of the process.

From reading this board for the last few weeks, I realize this is not going to be easy, but I’m willing to work hard and don’t have any “immediate” expectations. I’m planning on not receiving a commission for 6-7 months and know I’ll have to make a large personal investment when starting.

Thanks for reading the long post and for your advice.

Hmm, CA must be different because in FL you have to be a lic salesperson for 1 yr before you can obtain your broker's license.

Again, not sure what the CA broker's course involves but I don't recommend it to any of my agents that aren't looking to open their own shop. I tell them to go after other designations/education instead. I don't think our broker's course offers any educational value (again, unless they have aspirations to open their own brokerage).

Some co's here offer a slightly higher split if you have designations/broker's license.

IMHO< I would go the quickest route to get licensed & get the experience under your belt.

In CA we are able to get a Broker's license using education (4 yr college degree) in lieu of the Salesperson's license with 2 years of full-time experience.

We are required to take 8 courses (5 mandatory/3 elective) along with the education piece or the experience piece.

Eventually, I would like to be on my own, but realize I can't do it out of the gate without really learning the day to day business, not just book knowledge.

Thanks Tanya.

MAWWORK:

I am from San Jose and therefore, is your neighbor. I know exactly your situation. I have been working as an engineer for the past 18 years, but now am more and more tired of my work,
12 hour working days, plus reading email till AM
everyday and weekends has finally drained me. Even though the money is good $150K, but I somehow start to want a life. With good stock option, I am OK for years, and is now looking to
change my career to real estate. I have always had the passion about realestate and have invested in rental and apartment. I think I can do well in this field even though I know the drop out rate is 80~90%! I think with the dicipain from my engineering work, and if I am willing to work the same hours, I should do OK.

As for Broker license, I am in the same boat as you. I can get the broker license with the education and the test is easy. However, I just took my sales person's license test, because I feel that getting some experience is more important than the Broker license at this point. You are not going to be on your own for a long time ( 5 years at least?) anyway.

Have you started interview? I think I am going to join century 21.

Tanya: What other designation do you recommend? GRI? I do think having a "broker" title convey an image of knowledge and should help in the sale aspect, don't you think?

I'd go ahead and get started on your career - experience is going to get you much farther ahead than an additional designation. Also, you may find that real estate is not a good fit for you, and if that's the case, you wouldn't have wasted the extra time & money.

Jennifer

If you are interested in relocating drop me a private email. Someone with a solid background and with a can do attitude is what is required to make it in this industry.