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Does Anyone Know???????????????????????

HELLO EVERYONE!!

I AM JUST WONDERING IF ANYONE KNOWS WHY SO MANY REAL ESTATE AGENTS GO BACK TO SCHOOL AND OBTAIN THEIR BROKER/SALESMAN LICENSE AND DO NOT OPEN THEIR OWN BROKERAGE. DOES ANYONE KNOW WHY?? IS IT BECAUSE OF THE BONDS NEEDED OR FINANCES NEED TO BACK CERTAIN THINGS? DOES ANYONE KNOW OR HAS ANYONE OPENED THEIR OWN BROKERAGE AND IF SO WHAT ALL DID IT INTELL (NESS. NEEDED TO OPEN)?? THANK YOU IN ADVANCE FOR RESPONDING. HAVE A WONDERFUL WEEKEND.

TINA M. HAUGEN-PRUDENTIAL AMERICANA GROUP,REALTORS-LAS VEGAS, NEVADA-WWW.SELLINGTHECITY.COM 702-285-2377

Posted by Tina M. Haugen on 10/30/2009 09:05 PM

Comments (7)

DOES ANYONE KNOW............ in the ActiveRain Channel

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7 Comments on Does Anyone Know???????????????????????

OCT

Tina I don't see the need personally. For our business purposes we don't need the expense or risk associated with opening our own brokerage. Works for us.

Tina, I'm a Broker and I don't feel the need to open my own brokerage.

Here, in order to open your own brokerage, you need 3 separate bank accounts, and the funds have to be deposited and transferred between all the accounts; there is lots of paperwork and accounting that goes with all of that. A Broker here is also responsible for the behaviour of any salespeople or other brokers registered with the company, so that comes with a lot of responsibility.
These are just TWO of the Brokerage's main responsibilities.

We have to take continuing education courses every year; and a total of 24 credits every two years. As part of the continuing education, we can take courses that will count towards our Broker's license (rather than take a course on how to use the computer; or a course on mold, or a course on oil tanks, etc.). I figured that if I was having to study anyway, I may as well go all the way, and obtain the Broker's license. It doesn't make sense not to, if you have to take courses every year.
It also shows clients you are interested in education and are interested in knowing everything there is to know about the business, including exactly what happens to the deposit monies.

Maybe things work differently in different locations, but here, it doesn't make sense not to go all the way.

In short, because many people are idiots. The typical person thinks that the service and support from a corporation like C-21, etc. will be superior to that of a hard working, and intelligent small business owner. I've been working as an independent broker for around 10 years, and I know that I'd be able to sell more homes, if I were to throw in the towel, and join a greedy corporation.

Tina, in this state it is now required that each new licensee obtain a brokers license within a couple years of receiving their sales license. This helps relieve the BICs from having to supervise everything a new sales agent does quite so closely, and the additional education helps the agents too. Of course, education never ends if you want to be at the top of your game. I do not want or have a need to open my own brokerage, but I do want to be the best agent I can possibly be for my clients.

Hi Tina..Many states are now requiring that all agents have the "Broker" status, but like te others you only need the BIC or designated Broker status if you open your own office. When my agents ask about it for our Indiana office I tell them that I would much rather they spend their time and money on obtaining their GRI or CRS and not the broker part.

Liability reasons!

Higher expenses for MLS, liability, & operating expenses for running your own office. Being a Realtor you have less worries.

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