If you enjoy being a trusted resource for the people you work with and are looking for greater autonomy in your career, real estate brokerage may be a strong fit. Becoming a broker requires a significant investment of time, training, and licensing, but for many professionals, it’s a rewarding and respected career path with long-term potential.
That said, brokerage is not the only way to build a future in real estate. Some professionals pursue licensure as a stepping stone, while others choose to launch a real estate venture or start their own real estate business with an entrepreneurial mindset from the outset. Understanding the differences between these paths can help you decide which route aligns best with your goals, and which resources or professional partners can help you to meet those goals more effectively.
Below, we explore the fundamentals of becoming a real estate broker, what the role involves, and why this career path may — or may not — be the right next move for you.
Invest in Your Education
Becoming a real estate broker requires a bit of an investment in your education and training. After all, getting your broker’s license means that you can sell properties without supervision and run your own business.
So when you set out on this journey, it’s wise to keep in mind that there are a lot of courses and certifications that await you. And while every state is different, the path to brokerage typically looks something like this:
- Take state-approved real estate courses
- Get licensed as a real estate agent
- Get the proper real estate certifications
- Take state-approved broker courses
- Pass the real estate broker exam
Yes, this list is a little steep. But this particular career path requires you to invest in your education and credentials as well as yourself. So, it’s worthwhile to give it a shot if you’re serious about making this new career a reality.
Meet Credential Requirements
The next crucial steps for how to become a real estate broker involve getting well acquainted with the business side of the industry. In other words, it’s time to embrace becoming an agent. Once you’re a licensed real estate agent, you’ll typically need to sell homes for two to five years before qualifying for brokerage courses.
You’ll also need to ensure you’ve taken all the proper courses so that you can get certified for specific skills that brokers need to have. Having patience here is key, as being an agent helps you garner the experience needed to find success as a broker. Plus, it’ll give you plenty of time to build a healthy reputation and network.
Get Your Certification
Once you meet all the pre-requisite requirements to become a broker, it’s time to take your state-approved brokerage course. And once you complete it, you’ll be ready to take your broker’s exam.
Be mindful that both the broker course and exam are more complicated than the agent’s courses and exams. For this reason, it’s crucial to remember to study hard and take your time, especially because this is arguably the most essential step for how to become a real estate broker.
Start Planning Your Brokerage
So, what comes after all the classes and exams? Now that you’re licensed, you can start planning how you’ll set up your brokerage. And you get to choose how your business will operate. You get to select the building you’ll work from and how you want to decorate.
You’ll also want to start thinking about how you’ll split commissions. Or you might consider starting a full commission brokerage, despite the misconceptions about them. How you choose to do things is entirely up to you. And that’s part of the reason this career path is so empowering.
While becoming a broker isn’t for the faint of heart, it’s worthwhile if you dedicate yourself to it. And hopefully, our quick guide has provided some deeper insight into this exciting and rewarding career path.
