Hi
I am an attorney in California looking for a career change. A friend of the family suggested I take the broker's exam. I understand that because I am a member of the California Bar I may sit for the exam without having to complete the usually required courses. I am interested in becoming a real estate broker but I have a few questions.

(1) What is the difference between an agent and a broker?

(2) How long does it take to prepare for the broker's exam? Any recommmended preparation materials?

(3) Assuming I pass and get my license how do I get started?

I apologize for being so clueless but hopefully someone will be able to give me some useful advice.. . any is appreciated!!

Thanks!

Pritch,
Do not know about California but a Broker friend of mine is an attorney in Minnesota. I am with his brokerage as an Agent. He took the Sales Associate courses and the state exam. He was able to waive the Broker courses and directly took the Brokers exam.

(1) What is the difference between an agent and a broker? Broker holds the license of agent and is responsible for the actions of the agent. Broker will have set up trust account for earnest/escrow money. Usually, the buisness relationship is between Broker and Agent in that the agent is an independent contractor and not an employee.

(2) How long does it take to prepare for the broker's exam? Any recommmended preparation materials? If the state of California does not require any coursework and you can take the exam directly, there may be a one day exam prep course you can take. This will give you a feel for what the exam will be.

(3) Assuming I pass and get my license how do I get started? That is a 60 dollar question, lol. Being an attorney, you should have no problems with the standard contracts. My Broker attorney started out by going to residential builders with the approach of using his services to not only market the builder and builder's inventory but also provide his legal services. (I am not privy as to whether he charges them for his legal services)