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Considering
a career in real estate? This expanding profession offers individuals
the flexibility and freedom to set their own pace, as well as the
opportunity to earn an income that reflects personal efforts, commitment
and hard work, according to the National Association of Realtors
(NAR). People who find success in this field are typically goal-oriented
and self-motivated individuals who enjoy working with others and
have ambitions for their future.
The career involves much more than just helping people to buy or
sell homes; real estate sales professionals can also specialize
in office or industrial property sales, property management, land
development, mortgage banking, urban planning, real estate counseling,
appraisal and research. There is some preparation required before
you can get under way in a real estate career. You will need to
be licensed, and while licensing requirements may differ from state
to state, all states require prospective sales people or brokers
to pass a written exam.
In California, according to the California Department of Real Estate,
you must be at least 18 to be licensed. You don’t need a
high school diploma or its equivalent, but you must be “honest
and truthful. Convic-tion of a crime may result in the denial of
a license. Failure to disclose any criminal violation or disciplinary
action in an applicant’s entire history may also result in
the denial of a license,” the DRE states.
While no experience is required to obtain a license, specialized
college-level education is. Successful candidates will have passed
three courses. First, you must have completed a three semester-unit
or four-quarter-unit course in California Real Estate Principles.
Then, you must complete two additional three semester-unit or four
quarter-unit courses within the first 18 months after your license
has been issued, or your license will be suspended. One of the
two required courses is called “Real Estate Practices.” The
third course can be selected from the following list: Real Estate
Appraisal, Property Management, Real Estate Finance, Real Estate
Economics, Legal Aspects of Real Estate, Real Estate Office Administration,
General Accounting, Business Law, Escrow, Mortgage Loan Brokering
and Lending, and Computer Applications in Real Estate.
When you apply for the licensing exam, you must submit transcripts
showing completion of course work with your examination application.
You can find more information about this at the Department of Real
Estate’s Web site at www.dre.ca.gov.
Examinations are usually given in Fresno, Los Angeles, Oakland,
Sacra-mento and San Diego. The 150-question exam is given in a
four-option, multiple choice format, and is offered in a single
three-hour session. A salesperson candidate has to receive a score
of 70 percent or better to pass. That means at least 105 questions
must be answered correctly. Exam results are usually mailed about
five days after the test.
Once you pass the exam, you will be sent forms to complete in order
to receive your license. You may be employed by a broker before
obtaining your license, but you may not perform any real estate
services. Most people start out as sales trainees in a brokerage
firm, or as office assistant, listing or rental agent, or as an
assistant in a large real estate organization, or mortgage division
of a bank or savings and loan.
With license in hand, many also opt to join the National Association
of Realtors, to further their educations and obtain certification
in such areas as residential, commercial, industrial and office,
as well as farm and land brokerage. Others become certified Real
Estate Appraisers, or follow a career in property management or
land development.
- For more information about a career in real estate, contact Ron
Banasik at Coldwell Banker Solano Pacific, (707) 638-6432, or go
to www.solanopacific.com.
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