There are 3 types of licenses in real estate trading services.
1.Managing Brokers License. The managing brokers license if the highest level of license you can get in real estate and is required if you want to run your own brokerage as the other representatives will only be able to supply the service you’re trained to provide. Having a managing broker’s license also open you up to vicarious liability if you run a brokerage as you’ll be susceptible to the consequences of your ‘’employees’’ (other representatives) actions if they are against the law. To get a managing brokers license, you have to be of good reputation and have at least 2 years of experience in your state or province.
2. Associate Broker. I like to think of associate brokers as assistant captains, they meet all of the educational requirements that managing brokers have, the only difference is they’re not the ones leading the brokerage, they’re usually working within a brokerage and are choosing not to start their own or eventually take-over for the managing broker. To be an associate broker, you do all the training that managing brokers do.
3. Representative License. To be a licensed representative who can sell real estate, you just need to meet the basic educational requirements like English speaking skills, the equivalent of a high school diploma, pass the criminal record check and then pass your local exam in your given state or province. It is straightforward and simple and once you’re licensed, in order to sell real estate you need to join an existing brokerage.
This should have cleared up for you all the different main types of license there are in real estate trading services and helped you tell the difference between them all so you can go about deciding which ones you want to pursue.
Now, if you want to be a great realtor, then I’ve got a treat for you.
Real Estate Training Guide- How to Become a Great Realtor…
Real estate training and coaching is essential for anyone who is serious about succeeding in selling real estate at the highest level. The reason is because it is the way you get good. Its like if you wanted to become a better golfer, you would simply hire a coach and work on your skills, you would train hard. If you want a better body you get a coach and you train. If you want to get better at tennis you get a coach and you train hard. The same is true of real estate, if you want to get better at selling it and be the best real estate agent you can be, you must get a coach and train hard. Training and coaching are essential to success.
Another thing you can do to supplement your track to success as a real estate broker is to get around a winning team and environment. Before joining any brokerage, you should check where the best local agents are signed up and which brokerages have the best culture. The old saying is true, a rising tide really does raise all ships, if you can get on the right ‘’boat’’ or in this case real estate team, you’ll be raised up by the tide. So, if you want to be the best agent in your local market, get around the best agents in your market, whatever market your in. Whether you want to be the best Vancouver real estate agent or best London real estate agent. The process is almost identical.
Also, this sounds obvious and may seem like I’m back-tracking here. However, you should get licensed before you begin selling real estate. Yes, I know you’re thinking that sounds obvious. However, you want to make sure you focus on the first step/ obstacle in your way to success. Through the course, you may pick up a few things from the textbook, but the real learning is going to happen after you get your license while you in the field and you have a coach, that will likely carry more than 90% of the freight. Aside from the course from your local government authority, there are plenty of other real estate seminars you can sign up for to get more information on how to improve on various aspects of selling real estate. I’d also recommend learning from the best like the Forbes 30 under 30 for real estate.
Almost anybody can be an effective realty representative if they do what they need to do every single day. Learn what you need to learn, get a coach, listen to the feedback, improve and keep on going. As Winston Churchill said ‘’Never give up’’, keep pushing forward, keep learning and stay on the rise.
Now, you’re likely to face some road blocks along the way and have lots of conflicting information. Just remember, when in doubt, keep it simple and focus on the fundamentals. This business can really be simple if you really do things the right way. Especially if you listen to your coach as they’ve been where you’ve been and done what you’ve done, they’ve faced the problems you’re facing and have overcome them. After all, the best way to learn is vicariously through others mistakes, if you want a great model of a new licensee who you might want to study, I recommend surrey realtor Shawn Dhesi or, any other realtor you think is a great model. They’re experience to you will prove invaluable and will help you cut the learning curve down exponentially. Good luck in your journey as an agent!