Hi, Everybody, Cheryl Knowlton, coming at you with your explosive idea of the day. A lot of people ask me, “what is the difference between a real estate agent and a real estate broker?” There are actually different rules in different states regarding that. But I can tell you what the rules are in the state of Utah.
A real estate sales person is where you start. To get that you need:
- 120 hours of pre-licensing education
- Take and pass the school exam
- Apply for your real estate license and get it
- Find a broker/brokerage
- sign up with that broker
- Join the local, state, and National Association of Realtors
- Sign up with the Multiple Listing Service (MLS)
Now, you are in business and you can actually go out and get clients, which is very, very important. Most of us like to have food with our meals. That is actually how you’re going to make money. You are going to find clients that you can help serve them with their real estate needs or selling real estate. You’re going to help them across the finish line with that transaction.
This is actually a topic for another year long set of posts—there are actually 244 things that can go wrong n a real estate transaction. But we will save that for another day.
A lot of people say to me, “I don’t want a broker. I don’t want to sign up with a broker.” In the state of Utah and in most states, that’s not an option. When you are a cute, new bouncing baby real estate licensee, you have to have a broker. You need to affiliate with a broker—someone who is gong to love you and nurture you. They will take care of you and help you at least through your first 3 years.
In the state of Utah once you have had three—minimum of three years of continuous licensing experience and history with no naughtiness on your record, and enough transaction points then you are allowed to go to broker school. This is another 120 hours of schooling, take and pass the school exam. Take and pass the state exam to get your broker’s license. At that point you can become a broker.
Why do I need to work with a broker
Why is that? Because choosing a broker as a new licensee is one of the most important decisions that you will make as a new licensee and that is a subject for another video. We’ll talk about exactly what you need to look for when you’re choosing a broker.
Just understand, you need three years minimum experience and points. If you want to look at how that point system works, you can go to www.realestate.utah.gov. Click on real estate and there you can see the application process, procedure and all the points necessary for you to get your broker’s license.
Ultimately, I highly recommend it. If you are a real estate professional, who has had a minimum of three years, and you’ve got experience under you belt, I encourage you to look that up. The most recognized designation in all of real estate is broker. That is a journey that you should take. I highly encourage you to take it.
As with anything, if you have any questions about any of this, I would love to answer those questions for you. All you need to do is reach out.