Does a new real estate agent in California have to work for a broker for two years before going out on their own. Can the new agent work freelance?
202337
No but you have to learn the way to fill out those thousands of forms.  A broker will have people help you.  Plus who wants to deal with a person who acts solo.  I'd be scared.
151440
Yes, I operated a phone operation out of a persons home for two years.  You have to make sure the room you use is for business only.  You take the square footage of the room you are using for business only and divide that into total sqaure footage of your entire home and that is the percentage you can write off for business expenses.  Be sure to keep all records of rent, electricity, gas etc.  There is a separte form to fill out from the IRS for this and you will have to fill out the full blown 1040 to include this deduction.  If you start to make decent money at this, be sure to incorporate at some time. File with the IRS as a subchapter S corporation and pay yourself a small salary, otherwise under a Schedule C the entire amount you make is subject to 15.2% social security tax. Yuck.  Good Luck.  I had a friend who started in his home and now he has a storefront and does about a million in sales every year.
610066
No. You work under the mortgage broker's license.\n\n**** The guy below who said to ignore me and the other person who answered your question is ABSOLUTELY WRONG. NONE of our Loan Officers are "licensed" and they don't have to be. I work for a broker in AZ and previously worked for one in TX. Brokers ask for nothing of the sort. Maybe CA is different, you should research the state that you live in. Even with the major lenders, like the one my husband works for which is Countrywide, does not require or even ask for a license. They train new hires like any other job would. Like I stated before, you should research the state that you live in. I highly doubt you'll need anything though. I've been in the biz for years and never heard of such a thing. \nFYI*** There are scams out there that give all sorts of "lisences" online which are jokes. Some car dealerships do the same thing to inexperienced sales people, they make them take a $400 class thats really just a waste of time. As an LO, you'll be TRAINED to read rates and choose programs. The guy below sounds like your average sucker.
648680
first, you can take classes online, like at:\nhttp://www.realestateexpress.com/\n\nor your local community college should have some classes. \n\nYou work soley on commision and the amount of money you make depends on you. A successful agent is people person, a social butterfly and a great problem solver. My agent who works for me does so much business because she is constantly out socializing with friends and strangers. She takes care of people who give her leads and she takes care of her clients as well.  She averages over 100k a year easy. \n\nI suggest your ultimate goal is to become a broker and keep all your commission for yourself. Also, don't think like an agent, keep your mind open to helping your clients and people. You might not make as much on a single transaction like other agents, but the referrals you get for solving problems and being understanding of other people's issues pays off more in the long run.\n\nRegards...
366245
It really does depend on what your listing contract says. If it is newly listed and the broker has not yet spent a lot of money marketing the property chances are that you will be let off the hook with a small reinbursement of expenses. However if the broker has spent a lot of money marketing and promoting your property that might be different and depends again on what the contract says. Remember that in our business when someone brings an offer that meets all the terms listed on the contract by the seller that does not obligate the seller to sell the property it does however, obligate the seller to pay the commission.\nTalk to your qualifying broker and explain the situation.\nBuena Suerte
668784
I have been in real estate for 10 years.  It takes the average agent about 4 months before they see their first deal.  I takes about a year to really see some measure of success.  I have seen agents have up and down careers, meaning a good year then a not so good year.  True financial gain exists in this business.  I have seen more success on the investment side than the sales/listings side of the business.  It takes anywhere from 2 to 5 weeks to complete the pre-licensing classes and they cost about $325.  Once you complete the required course, you have to take the state and national exams.  When you pass those, you can place your license with a real estate broker and get started.  It is a very exiting business.  It takes a lot of time and it cost money to get your name out there, via advertising, etc...\n\nGood luck in your career.  BTW...the competition isn't that fierce.  Any broker will tell you that there are probably 100,000 licensed agents and only about 5% that really do the business.
121475
Both here in California and in Washington, I was able to work with a licensed agent. Although I could not answer questions and whatnot, just being able to tag along was immensely valuable. I would at least ask. They can only say no, but I doubt that would happen.
269684
We hold two California contractors licenses and are not aware of any "practice tests", unless they have started this within the last twenty five years. My husband bought tapes and listened to them while him worked...one was the CA Contractors Law, one for General Contracting and one for Painting.\nCall The CA Contractors Board at 1 800 321-2752 and ask if they have "practice tests" and where you obtain them.  Best of Luck to you.
59592
Realtors make money off their referals to local banks.  Some will push it to the point that they ywill only work with you if you use their lender.  Beware.  See the Money magazine artivel below for more info..\nhttp://money.cnn.com/2006/02/13/real_estate/closingcosts_money_0603/index.htm
67280
hire the real estate attorney now that you should have hired in the first place.\n\nreal estate agents should not be doing contracts. i know that many states have them doing so, but real estate agents don't have qualifications beyond the real estate exam.
496522
Yes, listen to your instincts.  If your agent is not doing their job, fire them!  Get someone who knows what they're doing.  This time, do extra research on who actually knows what they're doing.  You should have a comparative market analysis done free of charge by any agent that wants your business.  This will show you what houses are selling for in your area.  (Not what they are listed for, that information is useless).
41727
YES YES YES.  I am a retired California Realtor who was able to retire early thanks to a housing market similar to NY's.  You won't be able to retire off flipping one place, but you'll come out way ahead.  I don't know the specific prices in your market but you might check with my "source".
455533
If you did not sign a representation agreement that states specific time frames.  All you have to do is tell the Realtor you are going to work with someone else.  If you have a signed Real Estate Contract, the Realtor will be due the commission regardless.  \n\nI suggest speaking first to the Realtor's Broker or Manager and asking them to take over the day to day dealings.
503361
Since you did not indicate which state you live in, this website provides links to each state:  http://www.mortgagenewsdaily.com/Real_Estate_License/\n\nEach state has different requirements that one must fulfill before getting a license.  For example, in Texas, one may take the required pre-licensure courses online (210 hours must be completed prior to taking the exam), but the actual licensing exam must be taken at an authorized testing center.  Upon obtaining one's license in Texas, a 30 hour SAE course must be taken each year for the first 3 years of licensure and after that, a 15 hour MCE course must be completed once every 2 years from that point forward.  Incidentally, the Texas exam is reported to be one of the hardest in the country, along with the Florida exam.  \n\nAs real estate is based on referral and repeat business, the first year is the hardest, so anyone who works full time at another job will have a difficult first year in real estate, as he/she cannot devote full attention to being an agent due to having another job.\n\nReal estate is a very expensive industry to work in.  So be prepared to be nickeled and dimed.
219799
No personal experiences, BUT I know a friend of a friend who worked for NY Life just out of college.  This person worked for a while as an agent.  He sold a number of policies, but he didn't earn enough from the commissions to live on, so he had to quit.  Later, he found out that's how NY Life has made their big bucks.  They intentionally hire kids fresh out of college, give them little or no training, no leads, no support.  The new agent won't sell a lot of policies, but the ones that he does, revert back to the company when the new agent quits.  Thus NY Life doesn't have to pay commission on those policies ever again for the life of the policies that were sold, which would be a humungous savings for NY Life.\n\nA sleazy way to make money, if you ask me.  It's a heads up, if you're planning on working for them.  It's also a heads up if you're planning on getting insurance through them.  Personally, I wouldn't.  They don't need any more money than they already have, and to make money on the backs of young kids with a built-in design for their failure is, well, sleazy.\n\nApparently it's been a practice of theirs for years.
13224
California Civil Code Section 1946 provides:\n"1946.  A hiring of real property, for a term not specified by the\nparties, is deemed to be renewed as stated in Section 1945, at the\nend of the term implied by law unless one of the parties gives\nwritten notice to the other of his intention to terminate the same,\nat least as long before the expiration thereof as the term of the\nhiring itself, not exceeding 30 days; provided, however, that as to\ntenancies from month to month either of the parties may terminate the\nsame by giving at least 30 days' written notice thereof at any time\nand the rent shall be due and payable to and including the date of\ntermination.  It shall be competent for the parties to provide by an\nagreement at the time such tenancy is created that a notice of the\nintention to terminate the same may be given at any time not less\nthan seven days before the expiration of the term thereof.  The\nnotice herein required shall be given in the manner prescribed in\nSection 1162 of the Code of Civil Procedure or by sending a copy by\ncertified or registered mail addressed to the other party.  In\naddition, the lessee may give such notice by sending a copy by\ncertified or registered mail addressed to the agent of the lessor to\nwhom the lessee has paid the rent for the month prior to the date of\nsuch notice or by delivering a copy to the agent personally."\n\nBasically it means that if you are a month to month tenant, your tenancy can be terminated at any time on 30 days notice.
287275
It might make a difference if you offered the country of the real estate agents, and the language in which they work.\n\nIs there a trademarked professional term for the realtor group?