Real estate professionals in all 50 states have to be licensed before they can practice their trade. This includes brokers who need to complete additional educational requirements and experience than a typical salesperson. This involves pre-licensing education which they have to complete to be eligible for a broker license.
To understand the distinction, you need to understand the difference between different real estate professionals:
- A real estate agent works independently and may provide services to a licenses real estate broker.
- Brokers are obliged to pay the salesperson under their employ a portion of the commission earned from the sale of the property.
- A Realtor is a member of the National Association of Realtors or NAR. They differ from real estate agents in that they have to follow a strict ethical code.
- A real estate agent is also known as a real estate salesperson. They are responsible for assisting sellers in marketing their property, selling it for a good price and act as intermediaries between sellers and buyers.
- A real estate association broker is someone who has to take additional courses and has a broker’s license but who works under a broker.
- A broker is licensed by the state to charge a fee for attracting buyers or sellers who want to invest in real estate. They buy/sell on a commission basis either for an organization or an individual.
Each of these professionals has their own pre-licensing requirements that they need to fulfill in order to get their license. To get a license as a broker by the Real Estate Board you need to:
- Complete 180 hours of coursework of pre-license courses that are approved by the board.
- Clear the state and national parts of the broker exam
- Submit proof of experience. You need to have at least 36 and at most 48 months of experience as an agent preceding the pre-license application.
- Clear equivalent board-approved courses that are offered by credible universities or any other educational institution for pre-license education. Each course has to be about 45 hours long or 3 semesters long to be applicable. You need to pass the exam at the end and provide proof for course approval.
The state examination is more complex for brokers than agents since it involved questions on laws that can affect property sales and transactions in real estate. A salesperson has to complete 30 to 90 hours of instruction, clear the exam and work to become a licensed broker.
Once you get your broker license you have 2 years till it will have to be renewed or you will not be able to conduct any real estate activities. Individuals who fail to do this will need to pass the exam again and submit a new application.
Washington Real Estate Prelicense Course
Prepare for the broker pre-license exam by signing up for 360Training.com’s Washington Real Estate Prelicense Course today. The program includes everything a real estate agent needs to know to clear the pre-licensing exam and get their license as a broker.