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Upgrade Your Career: Become a Real Estate Broker
January 27, 2022

Upgrade Your Career: Become a Real Estate Broker

by The CE Shop Team

Upgraded Licensure Can Prove Exciting, Lucrative, and Rewarding

If you’re reading this blog, odds are you’re ready to get more out of your real estate career. Whether you’ve consistently smashed all of your SMART goals, reached a major financial milestone, or just feel ready for a new challenge, upgraded licensure could be a natural next step.

Real Estate Broker Basics

Transitioning from real estate agent to real estate Broker is a serious decision. If you do choose to pursue upgraded licensure, you’ll likely have more responsibilities, more authority, and a bigger cut of the commission.

But we’re getting ahead of ourselves. When it comes to Broker licensure, let’s start at the beginning.

What Is a Real Estate Broker?

While the general public may throw the terms “real estate agent” and “real estate Broker” around all willy nilly, there are a few marked differences between the two.

Real estate agents have obtained a license to buy, sell, and rent real estate, but must do business on behalf of a Sponsoring Broker or real estate brokerage. This is essentially the first step in a real estate career. 

Real estate Brokers, on the other hand, are agents who have pursued upgraded licensure through additional coursework and training. As such, Brokers can conduct their real estate business independently and hire or sponsor new agents. 

There are a few primary designations of real estate Brokers. The Principal or Designated Broker is the leader of a real estate brokerage. They hire and manage the staff of real estate agents and earn a portion of the commission generated by their supervisees.

A Managing Broker completes many of the same tasks, but also sets operational norms, manages administrative tasks or personnel, oversees transactions, and trains agents.

An Associate Broker (also called a Broker Associate, Affiliate Broker, or Broker-Salesperson) supports the Managing Broker as opposed to advising agents. 

To launch your career as a Real Estate Broker, you’ll want to develop a thorough understanding of the roles and responsibilities. Then, determine which type of Broker you’d like to become.

The Benefits and Drawbacks of Becoming a Real Estate Broker

Upgrade Your Career: Become a Real Estate Broker

Unsurprisingly, upgraded licensure, or essentially any kind of additional education and distinction, can yield all kinds of career-changing perks. For example, real estate Brokers occupy a more prestigious position in the real estate industry. This new title could set you apart from the competition (curse those pesky 2 million other agents) and even help position you as a thought leader in your local market. 

Real estate Brokers also have the unique opportunity to build and manage their own business. Agents with an entrepreneurial spirit or those highly-independent folks who daydream of calling all the shots, making personnel decisions, and otherwise managing their own real estate firm should probably consider obtaining a Broker License.

Brokers also often earn a portion of their agents’ commissions. That’s part of why the median salary for a Managing Broker is around $100,000 per year, while agents earn roughly $40,000. So, if you feel confident in your ability to gauge skill sets, passionate about training a team of successful agents, and ready and able to lead, Broker licensure could prove lucrative as well.

Of course, with great power comes great responsibility. Brokers are leaders and will need to act accordingly. At the end of the day, you’ll be responsible for your team’s successes and their failures. 

You’ll also need to invest money and time into upgraded licensure. If you do choose to go this route and want to get the most out of your investment, perhaps consider a real estate education provider that offers free trials, cutting-edge career resources, an Exam Prep program, robust customer service, and sky-high pass rates. Just our two cents.

In short, if you’re considering upgraded licensure, be sure to weigh the pros and cons. For some agents, the investment simply isn’t worth the time or money. For others, completing coursework and growing their knowledge in pursuit of greater opportunity is a no-brainer.

Requirements for Real Estate Brokers

The requirements for Broker licensure will vary depending on the state. In general, you will need to hold an active real estate license and pass state-mandated courses to obtain your Broker License. 

The CE Shop offers state-mandated Broker education in the following states, but you’ll want to research requirements in your specific market to determine if you’re eligible for a Broker License:

  • California
  • Colorado
  • Florida
  • Georgia
  • Illinois
  • Massachusetts
  • Mississippi
  • New Mexico
  • New York
  • North Carolina
  • Oregon
  • Tennessee
  • Texas
  • Virginia

Real Estate Broker Education

Broker education builds on your existing knowledge and experience as an agent. For example, some of our Broker courses cover contracts and regulations, local laws, current legal issues, and practical applications. Business-building courses like Building Your Real Estate Business or access to our industry-leading Exam Prep program may also be included.

Of course, when it comes to your state-mandated courses, you’ll likely want the best of the best. Upgraded licensure is not only an investment in your career but also in yourself. Before choosing a provider, research and compare pass rates, course delivery systems, and resources.

Becoming a Real Estate Broker

If you’re ready to take the next step in your real estate career, upgraded licensure could be right for you. A new year signifies new opportunities, and starting the next phase of your real estate career could be an ideal resolution. If you’ve determined that you are a Broker-to-be, sit down, do some research, and get started leading the next generation of real estate change-makers.

We believe in you!

Ready to Get Started With The CE Shop?

Whether you’re a new agent looking to start award-winning Pre-Licensing education or an experienced veteran wanting to finish your Continuing Education, we’ve got a 100% online curriculum that’s one of the most diverse and groundbreaking in the industry. And if you want to network with your peers, join our Facebook group and get connected!