Requirement of real estate broker exam in CA? Can a MBA degree replace the 4-year college requirement?
Question:
The requirement of exam also asks people to have 4-year college degree instead. I have a BA degree in a 4-year foreign university and a MBA in Univ of Illinois. Am I qualified?
Also, what is the difference between this license and the license of loan agent? Can a real estate broker do loan(lending) business?
After getting the license, must the holder need to work in the agency to keep the license valid or must fulfill other requirements?
Answer:
You will have to check with the Department of Real Estate to see if they will accept your foreign business degree, though, I think that if you and your credits were accepted at the University of Illinois and you were issued your MBA from that fine institution I am sure you are qualified.
Once you have taken he exam and passed the broker's exam you may open an office and do real estate as well as mortgages. You do not need to work in someone Else's agency.
There are some brokers that work for others to gain experience.
In order for you to maintain your license you must take continuing education classes.
Need any help in setting up your agency real estate or mortgage company I might be of some assistance to you. I am in Long Beach, Ca.
I hope this has been of some use to you, good luck.
"FIGHT ON"
You are probably qualified to take the Broker's exam since your education exceeds the minimum requirement. You can check with the California DRE to be sure. The exam for a real estate broker and loan broker are the same. Once you have a broker's license you do not have to work for another broker to sell real estate or to be a lender. You have to earn additional DRE credits and take an ethics exam to keep your license active.
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