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Becoming a Broker Question

1,215 Views | 16 Replies | Last: 4 mo ago by SPF250
sawemoffshort07
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AG
I'm a full time employee in a non related industry, in which I plan to stay and progress. I am now done with my pre-reqs for agent licensure and will test soon. I would like to get my brokerage license. Granted, I have 4 years to figure this out while my time requirement progresses.

My question is, is there a way around the 3600 points and/or generally having to do that much work in this industry? I'm looking at this for part time/on the side. My dad got his agent license requirements almost covered while at TAMU because of his degree. He kept it up with CE, not working in the industry, and was able to become a Broker. Is something like this possible now, or has this passed with a bygone era?
Diggity
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I'm fairly certain that having a pulse was the only major requirement to becoming a broker back in the day.

No way around those rules that I'm aware of.

Not sure why you would want to be a broker as a part timer anyway. It just costs more money to keep your license up and requires more continuing education.
SteveBott
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Being a broke as a part timer makes little sense. You have to carry all the legal risk for what? Take your share of the agent fees and move on. As time goes by you dont like your cut find a better cut from another broker.
HomeFinderCody
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"My question is, is there a way around the 3600 points and/or generally having to do that much work in this industry? I'm looking at this for part time/on the side."


Made me laugh...I'm driven crazy daily by the low barriers to entry in my chosen profession. People honestly think real estate careers are easy, shouldn't require much work, and can be done with no problem as a side gig.

I don't mean to pick on the OP...you are just asking a question. The timing was just funny because I had a long conversation yesterday about my frustration with people in my business.

And an honest response to your question would be the same as the two above...why bother with becoming a broker for a part time gig?
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DallasAggie0
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Are the sales/brokers license as easy to get in other states? Seemed crazy how easy the requirements were to get the sales license as compared to other financial services professions.

Red Pear Realty
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If you need a broker in the meanwhile we should talk. Or even if you don't, I'm happy to talk to you about this whole thing.
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sawemoffshort07
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I was not expecting this kind of response, but then again...this is Texags. Mostly it was a question because of , what others said, low barrier of entry. The sales license/agent is pretty easy. This was mostly just in regards to the 3600 points. It seems this kind of thing is happening in most professional licensing now (my other reference is the Professional Engineer (PE)). From my understanding, before my time, you could more or less just get it by being in an engineering role for x years. Now its FE exam, so many years, PE Exam.

My question is not to discount the RE profession, just a question. I do not want to own a brokerage and manage agents. It was more to just have it freestanding, I can effect my own transaction for real property without having to be under a broker as an agent. The only data point I have is my dad, who I referenced. He got his relatively easy. He also is not in the industry, but it has come in handy in his buying and selling rental properties and in his land holding for ag purposes. I was not planning to provide an anecdote of why I want to do this but felt it necessary with the given answers of "why would you want to do that", "it makes little sense", "why bother". This is not to say I am awash in cash, but a little more to retain it and a little more CE is not that big of a deal, and if it is, I can go inactive/let it lapse.

I enjoy learning, and seemingly the best way to do it is to get certified for something; for me so far, its engineering, a few Series Exams, now realty. So this was really, can I get to the next step without having to pick up a part time job in a non-related industry so I can have a certification to deal in real estate without having to do it under someone else?
SteveBott
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Post very limited OP's and you get a wild variation of answers. Which is what you did. Do not compare your dads experience with current business needs. My dad got his broker license almost forty years ago so his advice to me has almost no value. Plenty of brokers posted on this thread so PM them.

Another crazy hypothetical is talk to your dad about getting your license under him and talk succession and business future plans and how you guys can help each other
JBLHAG03
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Im broker today than I was yesterday...if that helps.
Premium
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HomeFinderCody said:

"My question is, is there a way around the 3600 points and/or generally having to do that much work in this industry? I'm looking at this for part time/on the side."


Made me laugh...I'm driven crazy daily by the low barriers to entry in my chosen profession. People honestly think real estate careers are easy, shouldn't require much work, and can be done with no problem as a side gig.

I don't mean to pick on the OP...you are just asking a question. The timing was just funny because I had a long conversation yesterday about my frustration with people in my business.

And an honest response to your question would be the same as the two above...why bother with becoming a broker for a part time gig?


Your post might carry more weight as a "sponsor" but this was an extremely unhelpful post. Many companies get started by entrepreneurs starting off with part time interest and it turns in to a full time business later. Poor taste to 1) not help but to also 2) pile on so you can stand taller than someone else.

Nice little laugh/cry for bonus stars - extra sarcasm always wins on TexAgs
HomeFinderCody
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Premium said:

HomeFinderCody said:

"My question is, is there a way around the 3600 points and/or generally having to do that much work in this industry? I'm looking at this for part time/on the side."


Made me laugh...I'm driven crazy daily by the low barriers to entry in my chosen profession. People honestly think real estate careers are easy, shouldn't require much work, and can be done with no problem as a side gig.

I don't mean to pick on the OP...you are just asking a question. The timing was just funny because I had a long conversation yesterday about my frustration with people in my business.

And an honest response to your question would be the same as the two above...why bother with becoming a broker for a part time gig?


Your post might carry more weight as a "sponsor" but this was an extremely unhelpful post. Many companies get started by entrepreneurs starting off with part time interest and it turns in to a full time business later. Poor taste to 1) not help but to also 2) pile on so you can stand taller than someone else.

Nice little laugh/cry for bonus stars - extra sarcasm always wins on TexAgs
Sorry to have offended you. I don't expect that my post carried more weight as a sponsor. Not one bit. The laughing icon was because I had just had a conversation with someone about the ease of getting a license....it really is laughable.

If you've ever seen me post on these boards over the past decade, you'd know I'll bend over backward to help anyone on TexAgs. I'd happily help the OP as well. Just didn't understand why he would want to become a broker.
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Premium
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HomeFinderCody said:

Premium said:

HomeFinderCody said:

"My question is, is there a way around the 3600 points and/or generally having to do that much work in this industry? I'm looking at this for part time/on the side."


Made me laugh...I'm driven crazy daily by the low barriers to entry in my chosen profession. People honestly think real estate careers are easy, shouldn't require much work, and can be done with no problem as a side gig.

I don't mean to pick on the OP...you are just asking a question. The timing was just funny because I had a long conversation yesterday about my frustration with people in my business.

And an honest response to your question would be the same as the two above...why bother with becoming a broker for a part time gig?


Your post might carry more weight as a "sponsor" but this was an extremely unhelpful post. Many companies get started by entrepreneurs starting off with part time interest and it turns in to a full time business later. Poor taste to 1) not help but to also 2) pile on so you can stand taller than someone else.

Nice little laugh/cry for bonus stars - extra sarcasm always wins on TexAgs
Sorry to have offended you. I don't expect that my post carried more weight as a sponsor. Not one bit. The laughing icon was because I had just had a conversation with someone about the ease of getting a license....it really is laughable.

If you've ever seen me post on these boards over the past decade, you'd know I'll bend over backward to help anyone on TexAgs. I'd happily help the OP as well. Just didn't understand why he would want to become a broker.


Have some self awareness - Sponsors always stand out. Pointing out how useless and unhelpful your post was for the OP is hardly being offended.
HomeFinderCody
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AG
Premium said:

HomeFinderCody said:

Premium said:

HomeFinderCody said:

"My question is, is there a way around the 3600 points and/or generally having to do that much work in this industry? I'm looking at this for part time/on the side."


Made me laugh...I'm driven crazy daily by the low barriers to entry in my chosen profession. People honestly think real estate careers are easy, shouldn't require much work, and can be done with no problem as a side gig.

I don't mean to pick on the OP...you are just asking a question. The timing was just funny because I had a long conversation yesterday about my frustration with people in my business.

And an honest response to your question would be the same as the two above...why bother with becoming a broker for a part time gig?


Your post might carry more weight as a "sponsor" but this was an extremely unhelpful post. Many companies get started by entrepreneurs starting off with part time interest and it turns in to a full time business later. Poor taste to 1) not help but to also 2) pile on so you can stand taller than someone else.

Nice little laugh/cry for bonus stars - extra sarcasm always wins on TexAgs
Sorry to have offended you. I don't expect that my post carried more weight as a sponsor. Not one bit. The laughing icon was because I had just had a conversation with someone about the ease of getting a license....it really is laughable.

If you've ever seen me post on these boards over the past decade, you'd know I'll bend over backward to help anyone on TexAgs. I'd happily help the OP as well. Just didn't understand why he would want to become a broker.


Have some self awareness - Sponsors always stand out. Pointing out how useless and unhelpful your post was for the OP is hardly being offended.
Wow...I apologized. Not sure what else you need. Seems like you may be having a bad day or two.

As I mentioned, happy to help the OP so I hope the OP is reading this. You can PM me, or email me anytime...Cody@MyRobinsonTeam.com.

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Diggity
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I don't really see any need to apologize Cody.

The way I'm reading the quote below, Premium seems to think we're telling the OP not to get into real estate, which isn't the case at all.

Quote:

Many companies get started by entrepreneurs starting off with part time interest and it turns in to a full time business later.
That is the great thing about real estate. You can "dip your toe in the water" while keeping your day job and you might find out it's something you want to do full time. None of that requires being a broker. Hell, I've been in this business full time for nearly 15 years and haven't felt any need to get my brokers license.

Anyone who is in the industry would say the same thing. There's just no need for someone who is new to the industry and doesn't plan on doing it full time at some point, to get their broker's license. There are hundreds of options to hang your license under another brokerage that will cost next to nothing, and you won't have the extra fees, licensing requirements, or liability. I just don't see the upside.

The OP asked if there was a way around the experience requirement and there is not. Nor should there be. As a broker, you can have agents working under you and everything they do could end up being your responsibility. Inherently, you need someone that has been in the business for a while and has seen a lot of transactions.
mazag08
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OP, just get your sales license, try it out for a bit, and then see how you want to proceed.
sawemoffshort07
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I didn't mean to stir anything up, honestly it was just a question. This is not in my wheelhouse (O&G Engineer) and figured this board would be a good resource. There are plenty of other boards if I wanted to troll. For those with constructive answers, thank you.

mazag08, that's pretty well what I landed on. I can roll with it and see what I figure out. I may reach out for other people's vantages, those gracious enough to offer and provide a contact. I guess I got ahead of myself asking about the next step and referencing what seems to be outdated information.

Thanks and sorry for any inconvenience.

PS- Steve, to your crazy hypothetical of talking to my dad about business needs, continuity and succession, I have that down. As mentioned, he is not in the industry (RE) and this certification/credential has come in handy (circumstanstial and/or coincidental), it had not been necessary. At the clip rate of the business and it's need of land or properties, it would take the better part of 1-2 decades to get the experience points as outlined by TREC. That's why I came here.
SPF250
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Sawemoff: Not sure what the rules are in Texas as I have been expatriated for far too long. I was licensed for many years in the state in which I live. Be aware that with whatever perceived benefits you may get, you will also be subject to additional obligations. For example, the handling of earnest money and security deposits, along with a requirement for trust accounts, may be something to look into. Just know what your additional obligations will be before deciding to take that step.
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