Recently got my Real Estate License in Sacramento, CA. I've been calling around Real Estate Brokers in this area and try to add myself to their team but so far No Luck!
I don't plan to use my License for what it is but mainly to get MLS access. Even though I offer to send all leads, that would come through my marketing and I wouldn't be able to do deal with and, who would want to list through a Realtor, their way or just team up with one of the realtors if and when I would have a property to sell, so far nobody wants any part of it. I called about 20 and, before I go on, I'd love to know if someone in the BP nation has any experience with this. If anybody knows a Real Estate Broker in the Sacramento area who'd be willing to take me on, I would really appreciate the lead.Either way, I'd really be grateful any sort of input.
Thank you all in advance,
I suggest that you continue taking courses so you can get a broker's license and be independent. California, unlike Texas and probably most other states, allows you to get a broker's license entirely through education, so you aren't stuck working for a broker for a period of years. It is a rare break in favor of individuals in an overly regulated state. I used to have a broker's license in California and found it helpful for MLS access and selling my own property without paying a listing broker. At least in the East Bay, as a broker you also are allowed to pay for MLS access without also paying to join the Realtors association.
It's surprising to hear that. I thought that in CA too you need to be an active REA for a minimum of two years before you can apply for your Broker's License.
Double checked the DRE and it looks like you need two years of full time salesperson experience (or a major or minor in RE, or have worked as an escrow officer, or loan office, etc).
@Bob Hucker This experience requirement is pretty new. This wasn't the case when I was taking education courses only a few years ago (only took a handful of classes for salesperson license).
Yes, I stand corrected. I see that the requirement was changed in 2013. I think the requirement used to include a four-year degree (or maybe a two-year degree), but now it must be a degree with a major or minor in real estate.
It's one more licensing requirement to restrict entry into the business and protect commissions of existing brokers. No doubt the change was pushed by the industry purportedly to help consumers but actually to limit competition and further monopolize the MLS. I'm guessing that an MBA from Stanford or UCLA who took all the required real estate broker courses later is likely to be more qualified than somebody who only got a real estate associate's degree from a community college.
Look into RE eBroker. They are an online brokerage with very low fees. I started out with Mason McDuffie and switched over to RE eBroker as soon as I heard about it. Perfect for your situation as well.
I'm actually surprised many brokers declined your offer. I would of thought for sure some of those companies wouldn't mind taking your monthly dues.
Not sure if it would work for your exact situation but maybe give cbzhomes a call or fill out their online contact page at whycbzhomes.com. Only reason they might work for you is since you don't really plan to utilize your license in the normal way they don't charge any monthly fees.
Be sure to look into E&O insurance. I know a broker that is having to defend herself on a deal. since she took profits from the say as part of a corporation that flipped the home. Her Insurance will not defend her. Just something else to be aware of and read all the fine print. Good luck out there!
You must be a BiggerPockets member to post on the forums
Join the world's largest, most open Real Estate Investing Community online, 100% free forever!