BECOMING A BROKER If you are planning on making real estate your career, then I would like to encourage you to consider getting your broker’s license. It is going to mean that you will need more experience and more education, but I believe that it is well worth the effort. Let’s go over some of the main reasons why getting your broker’s license is a good business move.
WHY BECOME A BROKER The primary reason why you should advance from being a licensed sales agent to becoming a real estate broker is the fact that you can work for yourself. You could throw out a shingle and start your own real estate business. There would be no more split commissions or desk fees. You will run the show. Another reason is that you will be more recognized as a real estate professional. Brokers have more experience and education. Hence, they are trusted more by the public. You can take on larger clients as well as commercial listings. The downside is that you will not have a broker to consult with. You will also be one hundred percent (100%) responsible for your own actions. You will not be able to hide behind the skirts of a managing broker. All in all, I would say that the benefits of getting your broker’s license outweigh the disadvantages. Even if you decide to stay with your original real estate firm, having a broker’s license is still advantageous.
SPONSORING BROKER LIABILITY If you get your broker’s license, this also means that you could have other salespersons working underneath you and building up your business. Just as your broker is responsible for you a licensed agent, if you become a broker, you will be liable for the activities of the members of your firm.
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