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We Buy Houses - Temecula , California

  • Commission Structure: Real estate brokers generally receive a commission for completing a sale successfully. The commission usually ranges from 5-6% of the property's sale price but can vary by state and region.

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    • Broker vs Agent: A broker may work independently, whereas an agent usually works under a broker's supervision.

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      Both brokers and agents must disclose their relationship with clients according to state laws.

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      Historical Licensing Changes:

      • Some states have eliminated the salesperson's license, automatically granting all licensees a broker's license.



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    • Lawyers can sometimes handle real estate transactions without being licensed as brokers if it is incidental to their legal practice.



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    • Multiple Listing Service (MLS): Before MLS was introduced in 1967, the term "real estate salesperson" was more appropriate since brokers primarily represented sellers by providing legal documentation services.

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      Educational Requirements:

      • Continuing education is mandatory for renewing licenses; for example, California requires 45 hours of continuing education every four years in various topics such as agency law and ethics.

      • College graduates may apply directly for a broker's license in some states after completing required courses.

      We Buy Houses - Temecula , California