Basics of Obtaining a Real Estate License

The United States of America is a country filled with unlimited opportunities in the real estate industry. Are you willing to start your career in this lucrative arena? If yes, then keep on reading the article to know the basics of getting a real estate agent (salesperson) license.

To work in real estate as a salesperson or broker, an individual needs a valid real estate salesperson or broker’s license.

Getting a Real Estate Agent (Salesperson) License

To obtain a real estate agent (salesperson) license, an individual has to meet certain requirements. Every state in the US has its own rules and regulations regarding the issuance of a real estate license, but here are some general requirements:

o Applicant must be over 18 years of age
o Applicant must be a legal resident of the country
o Applicant must successfully complete a pre-license course
o Applicant must successfully pass a real estate examination
o Applicant must complete and submit an application form
o Applicant must pay applicable license fees

It is highly recommended that every prospective agent read and understand all requirements, state specific and otherwise, before applying.

If an applicant’s license has been revoked within two years, or denied within one year from the date of filling the application, he/she is not eligible to obtain a license.

Testing Requirements

Testing requirements for every state may vary, thus, it is vital to check the latest test requirements of the state where the applicant is applying for the license. Generally, most states use a multiple choice format. Tests will usually contain state specific-questions.

Passing the Real Estate Examination

Once an applicant clears the examination, he/she will have to fill out the application form and pay the required fees (it varies from state to state). After getting the license, the licensee must be sponsored by a broker.

Continuing Education

It is important to remember that the real estate education does not end once one obtains a license as there are several states that require the license holder to renew their license through approved continuing education. Renewal periods differ from state to state, and it is the responsibility of the licensees to know what their specific state’s requirements entail.

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Reinstating a Real Estate License in Ontario – Instructions to Reinstate Your Real Estate License

Real estate agents in Ontario must renew their real estate license every 2 years under the Real Estate Council of Ontario also known as R.E.C.O. They may do so with a registered realty Brokerage in good standing with R.E.C.O. Failing to renew their license on or before their specific renewal date, will result in being ordered to cease and desist trading real estate in Ontario. If the agent does not reinstate his license within 2 years from failure to renew date, R.E.C.O. will terminate the license with no further option of reinstatement.

You may have become an inactive real estate agent and let your license lapse but will probably find yourself back and active sometime in the near or far future. If you decide that your license is valuable enough and worth keeping it active then you will need to reinstate it as soon as possible and avoid total termination. Please be aware that you will need to be registered with a Brokerage. If you will be inactive then you may want to consider joining a non board member real estate Brokerage that assists licensees like you by holding your license without the high costs you may be accustomed to. Here are some simple instructions on reinstating your real estate license in Ontario under R.E.C.O.

A) Visit the R.E.C.O. website. Just Google the term and you will find it easily. Go to “publications and resources” and note and click the “registration forms” tab. The “New or Reinstate Broker/Salesperson” form is the very first one. Click and it should load up easily.

B) To reinstate you must fill out sections A, B, C and F. The second half of section F will be filled out and authorized by the real estate Brokerage that you have decided to register with. The Brokerage is your Employer. When completed, you will find that R.E.C.O. has made it simple to pay using a major credit card by adding their credit card payment form located on page 6. See the updated information on their form for pricing and remember that you will be invoiced for the errors and omissions fees after your application has been approved.

C) Important: Registrants within the first two-year registration cycle must successfully complete three additional educational courses designated by the registrar before making an application for reinstatement of registration. For all other reinstatement’s, you must fulfill the continuing education requirements also before making an application for reinstatement of registration. Make sure you read section D of the form and call R.E.C.O. direct if you are not clear on their information.

Finally, get that application to the Real Estate Council of Ontario as soon as possible. Your real estate Brokerage employer may take care of this for you but hand delivering it yourself is usually a better option and recommended. Here is their information: Real Estate Council of Ontario 3250 Bloor Street West, East Tower, Suite 600, Toronto, Ontario M8X 2X9 Telephone: 416-207-4800 or 1-800-245-6910 and Fax: 416-207-4820

Something originally inspired you to become a licensed real estate agent in Ontario. Inactive for whatever reason led to your license getting terminated. Give yourself the benefit of a potential comeback whether sooner or later and instead of losing this valuable asset, keep it active and reinstate it today. There are options for you now that will allow you to park your license instead of losing it and at a fraction of the cost you are accustomed to. To reinstate or not to reinstate, it’s totally up to you! Good luck.

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Show Me Your Real Estate License Before We Do Business

In my state, and I assume in other parts of the country, people pretending to be licensed real estate agents when they are not is an increasing problem.

You are riding around looking to buy a house. You see a sign in front of a house for sale. You call the number. The person on the other end of the phone is either the owner or a licensed real estate agent or a scammer. Who else could it be? If they own the house, that is OK. If they are a licensed agent hired by the seller, that is ok. If they are someone else what are they up to? Ask them if they are the owner. If not, ask them if they are a licensed agent. If they say yes, ask to see their license. If they offer you a business card, ask to see their state issued real estate license. There is no legitimate licensee that would object to showing you their license. In fact, most agents, including me, would be proud to show a license. The only person that would not want to show you a license would be someone that does not have one. If they do object or refuse, be suspicious.

If they do not own the house and they do not have a real estate license, where do they fit in the transaction? It would seem to me they must be up to some sort of scam. Why not ask them”, where do you fit in this transaction?” That seems like a reasonable question to me. They might tell you they are handling this for a friend or relative. If that is true, you may want to ask if you can talk directly to the owner. If I were handling this for a friend or relative, I certainly would not object if someone wanted to talk directly to the owner. Would you? Of course they could tell you” I have an option to buy this house for fifty thousand from the ignorant,naive person that owns it and I am hoping to sell it to you for one hundred and twenty thousand. All I have to do is defraud the mortgage company into believing it is only worth fifty thousand and convince you it is worth one hundred and twenty thousand. Maybe the real owner will get sued for a deficiency judgement for several thousand dollars. That is too bad. This is a great deal for me.”

Licenced real estate agents have what is known as fiduciary duties. They are required by law to be honest. There are very serious consequences for dishonesty. They could have their license revoked if they are dishonest. If you meet one that does not want to show you their license, maybe they used to have a license but they do not anymore. People with criminal background can not get a real estate license.

One of the reasons that the state issues real estate licenses is so people with criminal backgrounds can not practice selling real estate. Another reason you might want to ask to see someones’ license is so you will know you have their right name. Crooks use aliases. Be cautious. Honest legitimate people do not mind at all. When dealing with a real estate agent, ask “May I please see your license?”

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How to Get a Real Estate License in California

A career in property selling field can be very lucrative, but you need to have a license in order to sell buildings. In California, the licensing process can be done fairly quickly for obtaining a real estate license. If you are interested in selling homes or commercial properties, here are the requirements for getting a license.

License Requirements

According to California real estate license requirements, you must be at least 18-years-old to apply for a real estate license. Although you may be a resident of the state, residency is not required and there is a process for non-residents to take the exam. If you are at least 18, then you need to complete three college level courses pertaining to real estate, which are a minimum of 45 hours each.

The coursework can be completed online or you can take classes in person. There are two required courses and one elective course. The required courses are:

• Real Estate Principals

• Real Estate Practice

You have several options for the elective course, including:

• Property Management

• Real Estate Finance

• Legal Aspects of Real Estate

• Business Law

• General Accounting

There are several other elective classes from which to choose. As you complete each course, you will be given a final exam and then you will receive a Course Completion Certificate from the school where you took courses once you have passed all of the final exams.

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How to Get a Real Estate License in Queensland

Real estate has become one of the most lucrative businesses in recent times. The positive global economic progress has opened new doors of opportunity for all businesses resulting in a real estate boom that is bound to last. To be a real-estate agent in Queensland, like most of everywhere else in Australia, you require a real estate agent license.
So how to you go about getting one…

To be eligible to get a real estate license in Queensland there are certain criteria that must be fulfilled. Here is a simplistic view of these requirements:

1)The candidate must be over 18 years of age
2)Must have at least one place of business in Queensland
3)Must have the requisite training from a recognised organization
4)The candidate must be a suitable person, which means that he/she must not be bankrupt and must not be convicted for any serious offence that carries three or more years in jail at least five years before applying for the license. Further, the candidate must not have been previously disqualified from holding a license for any reason. Also, the person should not also have been the director or one of the board of directors of a disqualified company.
5)Most importantly the person must be a citizen of Australia or an immigrant who has the required work visa.

To get a real estate license in Queensland, criminal history checks are also done for every applicant; and an applicant is required to pay the specified fee for criminal history checks to be carried out.

The processing time for the license is 4-6 weeks. It is usually never longer than this except when the authorities need to get in touch with the applicant for any missing documents or fees that need to be paid.

In order to ensure that there is no delay in obtaining the real estate license in Queensland, all photocopies of the original document must be attested. This means that the signature of the applicant is necessary as well as the signature of one of the following people – Solicitor, justice of peace, commissioner of declarations, barrister or a notary public. The applicant must take the original as well as the photocopy to the above-mentioned people and they will stamp it saying that the document is true. In Australia, photocopies of original documents are not accepted as proof of identity.

The most important thing needed for acquiring a real estate license in Queensland is training. There are many organizations that provide this type of training and it can be done in training classes or through correspondence mode as well. The advantage of correspondence mode is that the applicants can do the course in their own time, after regular work hours or after school.

In order to obtain a real estate license in Queensland, an applicant must fulfil as many as 19 units in the Property Services training package. For those who are already part of the real estate industry and are working as a salesperson, a resident letting agent or a property manager they would have completed at least six of the necessary units.

Once you attain a real estate license in Queensland, you can do any of the following

1)You can negotiate buying, selling, renting or exchange of apartments or houses, land or businesses.
2)Own a real estate agency. You can also manage a real estate agency that is not necessarily owned by you.
3)The license holder can directly buy, sell, rent or exchange houses or apartments, businesses or lands.
4)The license holder can look at, access and inspect any property that is up for sale or rent.
5)The property can be shown to interested buyers.
6)They can open property for rent or sale.
7)They can advertise a property that needs to be put up on rent or sold if they want to attract potential buyers. They can do this in the form of putting up signs as well.
8)They can take an apartment complex and sell in parts or however is suitable to them without going through an established agency.
9)They can sell, buy or exchange livestock (or an interest in them)
10)The license holders can operate a trust account in the name of either the buyers or sellers.

The real estate industry has seen a lot of positive changes in recent times. A real estate agent not only enjoys a great life but also helps people find homes like they always wanted. However, you need to be well trained and procure the real estate license in order to make the most of this career opportunity.

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