What is the Advantage of Having a Real Estate Brokers License? [realsestateblogs]

What is the Advantage of Having a Real Estate Brokers License? [realsestateblogs]

Question by Uzimike888: Can a real estate broker hold you license hostage if you owe them money?California? I have a Ca real estate license,I have it hung with a broker I haven't talked to them in years I might owe them money.Can they hold it hostage or do they have to give it back? Any help would be great.Thanks in advance. Best answer for Can a real estate broker hold you license hostage if you owe them money?California?:

Answer by Brian
Most likely no, that should have nothing to do with your license as you can just let them know that you will be transferring it to another brokerage. The company can still come after you for the money that you owe.

Answer by loanmasterone
If you think you owe him money you do, other wise you would be adamant about the fact that you do not owe him. The answer to your question is no he can not hold your license for uncollected monies. If you owe him he should take you to small claims court to collect any funds he think you owe him. You may secure a copy of your license by requesting from the California Department of Real Estate another license, you may tell them you misplaced the original. I suggest you face the broker that have your license, settle the money problem, get your license and move on. You might make arrangements to pay him over a period of time, but you would have settled this. I hope this has been of some benefit to you, good luck. "FIGHT ON"

[real estate broker license]

www.REIClub.com - Should Investors Get Licensed As Real Estate Agents? Check Out the Pros and Cons of Investors Getting Their Real Estate License... Benefits Being licensed as a real estate agent provides: * MLS Access - property comps, searches, history, no waiting on agent, agent investors can list properties, * Commissions - collect commissions on purchases, sales, leasing * Rights, Privileges - grants you all rights and privileges of agents - representation, commissions, property manager, etc. * Control - deal direct with sellers, agents, title companies, lenders, appraisers, inspectors, etc., control all aspects of deal including marketing, showings, closings, etc. * Credibility - real estate agents have increased credibilty with sellers, buyers, tenants, other professionals with licenses Cons: Investors who get their real estate license face additional... * Education - although minimal still must take classes, exams, and continue education * Costs - fees for education, exams, annual fees for MLS & Realtor certification, broker fees, insurance * Disclosures - required to protect yourself, but agent standard should be minimum anyway * Paperwork - agents have requirements for paperwork if representing others, may have to use state-approved documents How many properties you plan to buy/sell/lease, whether you're part-time or full-time and your state-specific requirements will determine if getting an agent license is right for you. Don't just listen to someone else - do ...

http://imdmeeting.org// Real Estate Agent License - Should Investors Get Licensed As Real Estate Agents?

State drops charges against Naples real estate broker. LEE COUNTY, Fla - Grand theft charges have been dropped against a Naples real estate broker accused of renting out a Bonita Springs home. State drops charges against Naples real estate broker

 

Real estate is one of the most competitive fields around. There are only a small number of listings that are considered to be prime real estate, for example, and those are the ones that everyone would like to have control of. In addition, in some areas, the housing market is so tight that if you are not the fastest, the best or the most aggressive, you will be shut out of every sale. Most of the sales in the real estate arena are completed by brokers for a number of reasons.

These include:

Ÿ  The ability to handle doing a title search Ÿ  The ability to handle setting up meetings between buyers and sellers Ÿ  The ability to manage properties for a fee Ÿ  The ability to arrange for mortgages and loans

Each of these services would be handled by a different agent or agency if the person handling the sale is not a licensed real estate broker.

The fewer people involved in a transaction, the faster it will go and the cheaper it will be in the long run.

Real Estate Agents vs. Real Estate Brokers

Agents can show you a house. Technically, they can give you all of the details about the house and can even convince you to buy the house, but that is about as far as they can go in the process. They are not going to be able to help any further with the process, meaning that you will have to pay someone to do a title search to make sure that the property is actually owned by the buyer and that they are legally allowed to sell it. You will also have to find your own, best mortgage rate without any real guidance from a real estate agent, because they are simply not qualified to do so.

The real estate broker has the advantage of not only having had additional training and education but from having the experience as a sales person as well.

The Difference in Each State

Each state has different laws governing what it takes to become a mortgage broker, but the educational process is fairly standard across the country.

Each student must apply for, be found eligible to take, and then pass a brokers exam in their state. To be considered eligible for the written, real estate broker license exam, each applicant must first take a set number of hours of education and have worked as a real estate sales person for a period of two years.

Some of the criteria used to determine eligibility for the exam process include age and criminal background, but states may also impose other limitations to those who are interested in taking this exam.

Those who have completed the educational requirements but have not yet applied for and passed the state bar examination can become a mortgage broker upon passing the exam without any further education requirements. They must still take the real estate broker license exam like anybody else.

 

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