As the population grows more and more, the industry of real estate is also increasing steadily. That is why people are attending real estate classes and seminars to know the basics in the field. However, understanding the business's essentials is only the first step into actually becoming a part of the industry. That is why there are licensure tests given to evaluate the person's capacity and assess whether or not he/she is qualified to become a real estate professional. Some may say that you do not need a license to sell properties since big real estate entrepreneurs never got their licenses. However, getting one would definitely be more beneficial to you in the long run.
Real Estate licenses offer some privileges that are not given to those who have none. Some of these takeaways include:
- Be part of a network
- Earn extra income
- Open more opportunities
Being a part of a system not only benefits you but every licensed realtor you work with. Because you already know who to contact in the right situation, you would have an easier time growing in the industry. Making new contacts while maintaining a good rapport with the ones you have already partnered with will make sure that you will have a better career track in the field of real estate.
Earning extra income in the field of real estate is a big help, especially to the ones who are just starting out. Besides selling properties on your own, a licensed real estate agent can also earn commissions from others through invites and referrals. The skills learned while practicing property sales can also be used in a plethora of business fields.
Sure, occasionally selling a property is okay; however, it is not sustainable. Getting a license can help you have access to more possible deals. Instead of looking for available openings, with your license, you can have access to MLS (Multi Listing Service). You will know about new listings of available properties that you can sell.
Basic laws that a real estate agent should know
The real estate industry is filled with legal nuances, that is why a licensed practitioner should be familiar with these fundamental laws to protect themselves, their clients, and their careers:
- Rent Control - AB 1482
- Contractor Law - AB 5
- Notices - AB 1110 and SB 1890
- Housing Discrimination - SB 329
How to become a licensed real estate agent?
In the state of California, a licensed real estate agent can handle sales and transactions under an authorized broker. However, not everyone can be eligible for licensure. Some conditions and standards approved by the California Bureau of Real Estate need to be met to qualify for a license. These are:
- Completion of 45 hours' worth of college-level courses: Real Estate Principles, Real Estate Practice, and an approved elective.
- Accomplish the Salesperson Examination Application or the Salesperson Exam/License Application.
- Pass and meet the standards of the state.
- Complete the application.
These are all regulated by the state to ensure the quality of the people who would be part of the industry. A necessary set of requirements to check if whether or not the person is genuinely credible and worth the license.
Legal guidance for getting a real estate license
The real estate industry is a cutthroat field of business; that is why it would be best to have the power of the law by your side. A licensed real estate professional would be better off when he/she has acquainted himself/herself with a law professional. This is to prepare if ever he/she faces any legal disputes in his/her field. Aside from settling legal disputes, a good lawyer can also aid the legal aspects in real estate (i.e., settlements, deeds, wills, etc.) which are all very important when securing a property. That is why if you or anyone you know knows legal disputes in the field of real estate, it would be your party's best interest to hire professional aid from our Law office. They can not just inform you about your rights, but they can also be your representative when it comes to dealing with property-related discourse.
Send us a message! We'll get back to you ASAP