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Old 04-27-2011, 01:08 PM
 
1,806 posts, read 3,370,339 times
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What's the difference between a salesperson versus a broker in terms of real estate licensing in CA?
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Old 04-27-2011, 02:22 PM
 
Location: Coachella Valley, California
15,564 posts, read 36,476,154 times
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A real estate salesperson must work under the supervision of a broker. A broker needs no supervision. The broker exam is longer and more detailed/complex than the salesperson exam. I'm a lawyer with a broker license, so I didn't have to take all the broker classes - I already had those in law school. A non-lawyer has to have a 4 year college degree or have worked as a real estate salesperson for a certain number of years before becoming eligible to take the broker exam.
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Old 04-27-2011, 02:52 PM
 
1,806 posts, read 3,370,339 times
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Quote:
Originally Posted by Twinkle Toes View Post
A real estate salesperson must work under the supervision of a broker. A broker needs no supervision. The broker exam is longer and more detailed/complex than the salesperson exam. I'm a lawyer with a broker license, so I didn't have to take all the broker classes - I already had those in law school. A non-lawyer has to have a 4 year college degree or have worked as a real estate salesperson for a certain number of years before becoming eligible to take the broker exam.
For the lawyer waiver, what courses are required from law school? Update: Found the list, my courses are similar enough (hopefully they won't give me a problem).

And does this waive the 2 year experience requirement as a salesperson so a lawyer can be an automatic broker? I can't find this portion online. Or does a lawyer still have to do 2 years as a salesperson.

Last edited by nowincal11; 04-27-2011 at 03:00 PM.. Reason: Update
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Old 04-28-2011, 12:20 AM
 
Location: Coachella Valley, California
15,564 posts, read 36,476,154 times
Reputation: 13177
Quote:
Originally Posted by nowincal11 View Post
For the lawyer waiver, what courses are required from law school? Update: Found the list, my courses are similar enough (hopefully they won't give me a problem).

And does this waive the 2 year experience requirement as a salesperson so a lawyer can be an automatic broker? I can't find this portion online. Or does a lawyer still have to do 2 years as a salesperson.
Lawyers don't have to do the two years. In fact, I've never been a real estate salesperson. I've never been involved in the sale of real estate whatsoever, I have the license as part of my practice.
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Old 05-01-2014, 10:44 PM
 
1 posts, read 2,702 times
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Quote:
Originally Posted by Twinkle Toes View Post
Lawyers don't have to do the two years. In fact, I've never been a real estate salesperson. I've never been involved in the sale of real estate whatsoever, I have the license as part of my practice.
What about this from the BRE: "However, members of the California State Bar would still need to demonstrate that they have satisfied the two years full-time licensed salesperson experience within the last five years requirement or have at least two years real estate related experience within the last five years while practicing law in California."

[url]http://www.dre.ca.gov/examinees/RequirementsBroker.html[/url]

Last edited by donchoi5; 05-01-2014 at 10:45 PM.. Reason: add link
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Old 05-02-2014, 11:55 AM
 
Location: Los Angeles (Native)
25,259 posts, read 15,271,532 times
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The standard commissions do seem to be pretty high for services covered.

I'm considering selling and have thought about those flat rate services. It seems the buyer will most likely want to have a realtor though since it doesn't cost them anything. But if you can still save like 2 or 3% on a big transaction that's nothing to sneeze at.

I think the documentation scares a lot of people ,but all RE purchase agreements are standard .

The buyer's agent will be writing up the offer anyways and it seems like even if you had an attorney review the document it's still going to be much cheaper than having a seller's agent.

No realtor or broker will agree with this of course because it's their job.

I can see more need in a tough market..but if people are getting into bidding wars over properties , agents seem less necessary.

If average home in L.A is $400,000 sales price, at 6% commission that's $24,000...that's quite a bit of money.

It seems like it's worth learning a little about documentation or how escrow works for that amount.
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