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This document provides an overview of how to become a real estate agent in California. It discusses the requirements to obtain a real estate license, including completing education courses and passing a state exam. It also reviews options for career paths in real estate and factors to consider when choosing a real estate office, highlighting features of Keller Williams Realty such as training, profit sharing, technology resources and culture of support for agents.
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Kw careers
- 2. Real Estate Career Session How to become a California real estate agent By Michael Devlin Keller Williams Realty 11/29/2011 © Copyright Keller Williams® Realty, Inc. 2010 2 www.kw.com
- 3. Agenda Why How To Real Get Estate? Started. Choosing An Office. © Copyright Keller Williams® Realty, Inc. 2010 www.kw.com
- 4. Mike Devlin Keller Williams Realty WHY REAL ESTATE © Copyright Keller Williams® Realty, Inc. 2010 www.kw.com
- 5. Definition Of Terms Broker Salesperson Agent Licensee Realtor © Copyright Keller Williams® Realty, Inc. 2010 www.kw.com
- 6. Ways of Holding License Need Not Working Broker Working For A For For A Broker Licensed Broker Acts © Copyright Keller Williams® Realty, Inc. 2010 www.kw.com
- 7. What You Can Do With License Residential Commercial Loans Property Management © Copyright Keller Williams® Realty, Inc. 2010 www.kw.com
- 8. Advantages Of A Career In Real Estate Freedom and independence. Financial rewards. Investment opportunities Security © Copyright Keller Williams® Realty, Inc. 2010 www.kw.com
- 9. How Real Estate Agents Are Paid $530,000 price x .06 commission $31,800 total commission Listing Office Selling Office $15,900 $15,900 Sales Associate Sales Associate $11,130 $11,130 9 © Copyright Keller Williams® Realty, Inc. 2010 www.kw.com
- 10. How much CAN you make? $11,130 x 4 = $44,520 $11,130 x 6 = $66,780 $11,130 x 8 = $89,040 $11,130 x 12 = $133,560 $11,130 x 18 = $200,340 © Copyright Keller Williams® Realty, Inc. 2010 www.kw.com
- 11. 70/30 to 100% • You receive 70% of the gross commissions up to $100,000 ($70,000 to you/$30,000 to office) • After that, 100% to you until beginning of next year. • Year determined on when you start at Keller Williams. © Copyright Keller Williams® Realty, Inc. 2010 11 www.kw.com
- 12. Traits Of A Successful Real Estate Agent Ethics Ego Drive (Self Confidence) Empathy Enthusiasm Energy Education 12 © Copyright Keller Williams® Realty, Inc. 2010 www.kw.com
- 13. Types of real estate careers Full Time Part Time Referral Only Mentor © Copyright Keller Williams® Realty, Inc. 2010 13 www.kw.com
- 14. Timing • Real estate runs in cycles. • The real estate market is currently at the bottom of a downward cycle. • The cycle will start trending upward. © Copyright Keller Williams® Realty, Inc. 2010 www.kw.com
- 15. Mike Devlin HOW TO GET STARTED © Copyright Keller Williams® Realty, Inc. 2010 15 www.kw.com
- 16. General Requirements 18 Or Older Can Prove Legal Presence in US Not Convicted Of Certain Crimes © Copyright Keller Williams® Realty, Inc. 2010 www.kw.com
- 17. Licensing Process Complete 3 College- Level Courses Pass Salesperson’s Exam Apply For Salesperson’s License © Copyright Keller Williams® Realty, Inc. 2010 www.kw.com
- 18. How to Apply for the Exam Complete Salesperson Examination Application Form College-level course transcripts $60 Fee Mail to Department of Real Estate Wait at least 6 weeks © Copyright Keller Williams® Realty, Inc. 2010 www.kw.com
- 19. Before Applying For State Exam Real Estate Principles Real Estate Practices Elective Course © Copyright Keller Williams® Realty, Inc. 2010 www.kw.com
- 20. Elective Course Real Estate Appraisal General Accounting Property Management Business Law Real Estate Finance Escrows Real Estate Economics Mortgage Loan Brokering and Lending Legal Aspects of Real Computer Applications in Estate Real Estate Real Estate Office Common Interest Administration Developments © Copyright Keller Williams® Realty, Inc. 2010 www.kw.com
- 21. College-Level Course Options 1 • College 2 • Online 3 • Home Study © Copyright Keller Williams® Realty, Inc. 2010 www.kw.com
- 22. Examination Fees Original Examination $60 Re-Examination $60 First Rescheduled Exam $15 Subsequent Rescheduled $30 Exam © Copyright Keller Williams® Realty, Inc. 2010 www.kw.com
- 23. Exam Format 150 Questions 70% Correct 50+% Fail © Copyright Keller Williams® Realty, Inc. 2010 www.kw.com
- 24. Preparing For State Exam DRE Reference Book Online Courses Books/CD ROMs Live Workshops © Copyright Keller Williams® Realty, Inc. 2010 www.kw.com
- 25. Real Estate Classes 12 Live Classes Start with any one Take in any order Repeat as often as needed © Copyright Keller Williams® Realty, Inc. 2010 www.kw.com
- 26. 12 Lesson Rotating Class Plan 1. Ownership & Property 12. Capitalization 2. Encumbrances You can start & Math with any lesson, repeat as often 3. Real Estate as necessary.11. Appraisal Law 10. Land, Subdivision 4. Finance 1 s, Bus. Opps. 9. Taxation 5. Finance 2 6. Real Estate 8. Agency Practice 7. Contracts © Copyright Keller Williams® Realty, Inc. 2010 www.kw.com
- 27. Other Materials • 12 Class Handouts Course • 12 Online Quizzes Materials • Definitions • 6 Practice Exams Testing • 150 Questions Each Program © Copyright Keller Williams® Realty, Inc. 2010 www.kw.com
- 28. And More High Pass Rate Pass, Or Your Money Back, Guarantee Free Guest Lesson 100% Tuition Rebate Program Placement Assistance Course Tuition - $299 © Copyright Keller Williams® Realty, Inc. 2010 www.kw.com
- 29. Once You Pass the Examination Application - RE 202/RE 435 $275 Fee Fingerprints – Live Scan Proof of Legal Presence © Copyright Keller Williams® Realty, Inc. 2010 www.kw.com
- 30. Time Line Principles 2.5 weeks Practices 2.5 weeks Third Course 2.5 weeks Application 4 weeks © Copyright Keller Williams® Realty, Inc. 2010 www.kw.com
- 31. Combo - Exam & License (RE 435) © Copyright Keller Williams® Realty, Inc. 2010 www.kw.com
- 32. Combo - (RE 435) Fees Examination Fee $60 License Fee $275 Fingerprint Fee * Total Due to DRE $335 * $51 fingerprint processing fee paid directly to the live scan fingerprint service provider © Copyright Keller Williams® Realty, Inc. 2010 www.kw.com
- 33. Fingerprinting Get Fingerprints Taken ($10-$35) Submitted to D.O.J./F.B.I. ($51) No License Until D.O.J. Report Issued Can Take Weeks © Copyright Keller Williams® Realty, Inc. 2010 www.kw.com
- 34. Mike Devlin Keller Williams Realty CHOOSING AN OFFICE © Copyright Keller Williams® Realty, Inc. 2010 34 www.kw.com
- 35. Introduction The Evolution of the Real Estate Industry Traditional Companies Keller Williams 100% Companies Realty •Associates are •Associates have an •Associates are dependent on the interdependent relationship independent and have company; with the company and a landlord/tenant mutual interest in success; relationship with their •Financial gain is directed primarily to the brokers •Associates and brokers company and the company; work as teams in achieving •Associate –focused financial goals; •Associates have fewer environment with limited opportunity for •Associates do not assume high-level support financial, legal or accumulating wealth •Associates assume all management responsibilities the financial, legal and management responsibilities dependent interdependent independent © Copyright Keller Williams® Realty, Inc. 2010 www.kw.com
- 36. Awards and Honors Outpacing the Industry J. D. Powers and Associates - Highest Overall Satisfaction For Home Buyers Among National Full Service Real Estate Firms, Two Years in a Row* Entrepreneur Magazine- Ranked #1 real estate franchise in the Franchise 500 survey Swanepoel Trends Report - Most Recognizable Real Estate Franchise for 2009, #1 Industry Trendsetter for 2009 Inc. Magazine - One of the Top 5000 Fastest Growing Private Companies in America, 2009 American Business Awards- Sales Training/Coaching Program of the Year Franchise Times - Top Quartile of Franchise Operations in the U.S., 2009 © Copyright Keller Williams® Realty, Inc. 2010 www.kw.com
- 37. Top real estate agents featured in 'The Thousand' report • Source: The Wall Street Journal/Real Trends Inc. • Keller Williams Realty agents and teams accounted for 233 spots overall on the list, and accounted for nearly half (122) of the top 250 teams by transaction sides. • Among the top 10 teams in that category, Keller Williams made up four out of the 10. © Copyright Keller Williams® Realty, Inc. 2010 www.kw.com
- 38. Defying the Downturn While others are slowing … Keller Williams Realty is growing. In 2009, the National Association of Realtors® saw a 7 percent contraction in its membership from the previous year, while Keller Williams Realty saw growth of 3 percent – to more than 76,000+ associates. © Copyright Keller Williams® Realty, Inc. 2010 www.kw.com
- 39. Defying the Downturn Our agents’ businesses are growing As KW’s agent count and productivity continue to rise, Keller Williams agents are closing more units – outpacing the growth of the industry as a whole. © Copyright Keller Williams® Realty, Inc. 2010 www.kw.com
- 40. Keller Williams Realty Not Your Ordinary Real Estate Company We like to think we stand out from other real estate firms in many ways, but THREE areas in particular define Keller Williams Realty: Through Culture, 1 2 3 Profit Share, and Education, we build the careers of our people. This is an culture profit share approach that brings education our associates the success they want and deserve. © Copyright Keller Williams® Realty, Inc. 2010 www.kw.com
- 41. Associate Leadership Council Open the Books, Share the Decision Making At Keller Williams Realty, our books are open to our associates. On a monthly basis the market center financials are reviewed by our Associate Leadership Council (ALC). There are Budget Business NO Secrets Accountability Accountability Because we are all Our ALC takes an Many of our in business together active role in the associates and we share in the budgeting process participate in the profits of our market and helps our office financial center, you’ll be able leadership team in planning and learn to review the office making decisions principles they can financials whenever that affect the apply to their own you like. financials of the businesses. office. © Copyright Keller Williams® Realty, Inc. 2010 www.kw.com
- 42. Value Proposition Discover our Difference We believe that Keller Williams Realty can offer you an unprecedented opportunity, with training, coaching and technology that lead the way in the industry. 1 2 3 training coaching technology © Copyright Keller Williams® Realty, Inc. 2010 www.kw.com
- 43. Training On Demand Learning – Available 24/7 © Copyright Keller Williams® Realty, Inc. 2010 www.kw.com
- 44. kw | TECHNOLOGY The My Listings, My Leads Philosophy You work hard to get your listings, so in our book, you deserve every lead that comes from them. Our entire online lead generation system is built around this philosophy.
- 45. Technology Only $10 brings you a suite of tools © Copyright Keller Williams® Realty, Inc. 2010 www.kw.com
- 46. Technology 76,000+ ways to find buyers and market your listings Our lead generation network exposes your listings to more consumers than any other real estate company – and every lead comes back to you. kw.com gives consumers access to search more than 4.7 million listings (including yours) -- more than any other national real estate Website! Office sites Your site © Copyright Keller Williams® Realty, Inc. 2010 www.kw.com
- 47. Technology Proprietary Listings Database and Full IDX Our proprietary listing database, the Keller Williams Listing System, or KWLS, markets your listings online – 24/7. And all the leads come back to you. © Copyright Keller Williams® Realty, Inc. 2010 www.kw.com
- 48. Technology Contact Management and Marketing The Keller Williams Realty version of Top Producer® 8i is customized to our company to help automate the models and systems of The Millionaire Real Estate Agent © Copyright Keller Williams® Realty, Inc. 2010 www.kw.com
- 49. Keller Williams Realty is built by agents, for agents. We’re a company that’s changing lives. The next one could be yours… Find us on:
Hinweis der Redaktion
- This license is required of individuals who are to be employed as salespersons under the supervision of a licensed broker. A license may also be obtained by a person who does not immediately intend to be employed by a broker. However, a salesperson without an employing broker may not perform acts requiring a license. The license authorizes real estate activity only if the salesperson is in the employ of a licensed broker.
- Sections of the Business and Professions Code define the scope of a real estatebroker’s activity. Without a license, an individual cannot receive compensation for the performance ofany of the acts defined as being within the purview of a licensed broker or salesperson.
- Experience — None required.
- * Once qualified, an Examination Schedule Notice (RE 401A) or an authorization to self schedule will be sent to you.* Use the eLicensing online system to check your exam date or to self schedule.All qualification requirements must be met before you can be scheduled for the salesperson examination.If you are not qualified at the time you submit your application and fee, you will be notified in writing and you will have two years from the date of receipt of the application in which to complete the qualifications and take the examination. If you do not qualify for and pass the examination during the two-year period, the application will expire and you will need to submit a new application, fee and other required documents.
- Members of the California State Bar are statutorily exempt from the college-level course requirements. Evidence of admission to practice Law in California must be furnished, such as photocopy of both sides of a California State Bar membership card.Members of any other State Bar as well as individuals holding an LL.B or J.D. degree who are not members of any State Bar, including CA, may generally qualify on the basis of education.
- Courses must consist of three semester-units or four quarter-units at the college level. Courses must be completed at an institution of higher learning accredÂited by the Western Association of Schools and Colleges or by a comparable regional accrediting agency recognized by the United States Department of Education, or by a private real estate school which has had its courses approved by the California Real Estate Commissioner. Courses completed through foreign institutions of higher learning must be evaluated by a foreign creÂdentials evaluation service approved by the DepartÂment of Real Estate. See Examination Applicant Foreign Education Information (RE 223) available on the DRE Web site.Continuing education offerings do not satisfy the college-level course requirements for the salesperÂson examination.Copies of official transcripts are generally acceptÂable evidence of completed courses. Transcripts of equivalent courses submitted as potential equivalent course of study in lieu of the statutory courses listed above must be accompanied by an official course or catalog description in order to be evaluated for equivalency.If you intend to request a review for acceptance of a course that is titled differently from the list of required courses, a copy of your official transcript should be submitted with your examination application and a copy of the course syllabus or a copy of the college’s catalog description (from the year of attendance for the course).
- To pass the examination, you must correctly answer at least 70% of the questions. Since the examination is qualifying in nature, examinees who pass are not informed of their final score.The maximum time allowed to take the salesperson examination is a single 3-hour 15-minute session.The examination is multiple choice. Answers are selected from four choices. Cell phones cannot be used during the examination. You may use a silent, battery-operated, electronic, pocket-size calculator that does not have a print capability or an alphabetic keyboard. Cell phone calculators are not permitted.
- Once you pass the examination and if you have not filed a Combination Examination/License application, a packet including a Salesperson License Application (RE 202) will be sent to you. Within one year of the date you pass the examination, you must apply for your salesperson license by submitting the following:Application — Completed Salesperson License Application (RE 202). Be sure to read all instructions and information before completing the application. Your social security number must be included to ensure fingerprint results are received by the DRE. No changes of any kind will be made to an application once it has been received by the DRE.The Applicable Fee.Acceptable methods of payment include checks or money orders made payable to the Department of Real Estate, or credit cards.Fingerprints — Have your fingerprints taken by a qualified Live Scan service provider and submit a completed Live Scan Request (RE 237). Proof of Legal Presence — Documentation indicating that you are legally present in the United States such as a birth certificate, passport, resident alien card, etc., must be submitted with a completed State Public Benefits Statement (RE 205); legible copies are acceptable. Out-of-State Applicants — Applicantsirrevocable Consent to Service of Process (RE 234). See Section IX – Out-of-State Applicants for further information. who do not reside in California must also submit a completed and notarized
- Individuals may apply and pay for their real estate salesperson examination and license at the same time by submitting one application and both the License and Examination fee. Applicants must complete the Salesperson Exam/License Application (RE 435), which may be obtained from the DRE Web site, and submit the required combined license and examination fee of 145. The following must be submitted before your license can be issued:• Proof of legal presence document (i.e., birth certificate, passport, resident alien card, etc.) and a State Public Benefits Statement (RE 205). Please refer to that form for further instructions.• Transcripts for Real Estate Principles, Real Estate Practice and/or one other required course, if not previously submitted. • A copy of the completed Live Scan Service Request (RE 237) if you choose to be fingerprinted prior to taking your examination.
- Applicants must be fingerprinted using a Live Scan service provider. Applicants may get their fingerÂprints taken at the time they submit their exam/license application or any time thereafter, however, results from the fingerprint process must still be received before a real estate license can be issued. Live Scan Service Request forms (RE 237) may be obtained on the DRE Web site. The rates are currently as follows; our rolling fee is varies from a low of $10, up to $35, depending on where you get them taken.The DOJ (Department of Justice) charge is $32.00 and the FBI fee is $19.00 for a total processing fee of $151. All rates are subject to change. Fingerprint processing fees are not refundable under any circumstances, including failure to qualify by examination for a license.