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#342434 - 06/28/10 12:45 PM Is it possible to start out as a Broker?
JakobHarper Offline
Member

Registered: 06/27/10
Posts: 40
Loc: Georgia
My wife and I have been in sales for the last 6 years. We know how to talk to people and love looking at different pieces of real estate, whether it be houses, land or commercial properties. We figured, since the two of us are constantly sifting through properties (we're investors) we might as well help others find the right real estate for themselves and love the idea of getting our licenses. The only drawback we have is splitting comissions with brokers after we've done all the legwork. I know a broker will provide training, software programs, continuing ed discounts, etc. But is it possible to go it alone and just start out fresh with my wife or do we have to piggy back on another broker to get started? Thanks so much! This is my first post and looking forward to reading and responding to everyone in the future.

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#342435 - 06/28/10 12:50 PM Re: Is it possible to start out as a Broker? [Re: JakobHarper]
MIAMIREALTOR90 Offline
Member

Registered: 02/06/10
Posts: 12
Loc: Miami, FL
NO, you must be an active agent for 2 years before you can become a broker.

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#342436 - 06/28/10 12:50 PM Re: Is it possible to start out as a Broker? [Re: JakobHarper]
Vermont Offline
Major Contributor

Registered: 04/12/08
Posts: 4458
Loc: Vermont's North-East Kingdom
That other Broker also bears the liability for the mistakes made by his Apprentices . . . . i.e. vicarious responsibility for protecting the Public Interest.

Talk to the Georgia Real Estate Commission. The industry is set up like this for very good reason. It's a Journeyman's Business to protect the General Public from Agents who don't yet know what they don't know.
_________________________
Dale C. Hittle of GOLDEN RULE PROPERTIES in Glover, Vermont
Where We're Always Striving To Put Together "THE FAIR DEAL"

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#342518 - 06/29/10 12:52 AM Re: Is it possible to start out as a Broker? [Re: Vermont]
LizL Offline
Major Contributor

Registered: 08/27/05
Posts: 1620
Loc: Missouri
You are investors and you want to help OTHER people find the best deals? Have you thought this through, really? Seems to me that an investor needs to find the best deals for himself. Working to help other people will take focus away from your own pursuits.
_________________________
REALTORŪ, Broker/Salesperson, GRI, ABR
REO listing/selling since 2004; BPOs

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#342549 - 06/29/10 10:38 AM Re: Is it possible to start out as a Broker? [Re: LizL]
TomMoser Offline
Member

Registered: 05/21/10
Posts: 61
Loc: East Northport, NY
Every state has different licensing requirements for brokers. You need to check with your DOS. But, as a general rule, you will have to work under a broker for a specified time and complete a certain number of transactions before you can get a brokers license.
_________________________
If you are looking for a home or wish to make a referal, please visit http://KeystoneLongIsland.com

Free Agent Training is available at http://AgentsEarningMore.com

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#342571 - 06/29/10 12:34 PM Re: Is it possible to start out as a Broker? [Re: TomMoser]
Perky_REALTOR Offline
Mod Squad
Major Contributor

Registered: 11/27/06
Posts: 7685
Loc: PA
I believe an attorney, at least in PA, can become a broker right away. Everyone else needs to be an agent for a certain period of time and needs to close a certain amount of transactions and take many hours of education.

As it should be.

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#342716 - 06/30/10 03:06 PM Re: Is it possible to start out as a Broker? [Re: Perky_REALTOR]
DeeVee Offline
Member

Registered: 09/16/08
Posts: 146
Loc: Denver Metro
Even if it were possible, really, do you want that stress? You must understand contracts through and through! Okay, so the sentence may say one thing, but legally you need to know what it means EXACTLY. If you misinterpit, explain wrong, or even understand wrong...you could lose your license.
That's why the broker gets their cut, because it's their a** too if you screw something up.
Would you hire an attorney to represent you in court, who himself had never been in court?
School doesn't teach you how to practice, you'll actually need practice for that.

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