Real Estate Agent, Mortgage Broker, And Appraiser?
Q: Could someone please share his valuable information on how to become a real estate agent, mortgage broker, and appraiser? Are their any schools by mail that one can attend? I am interested more in the San Francisco Bay Area.
A: Many ways to get the most up to date information you ask above. Real estate agents and mortgage brokers are licensed by the State's Department of Real Estate. Contact your local office of DRE, visit your local community college book store for DRE Reference book (less than $20), or inquire at any real estate firm in your neighborhood. Briefly, you must have Real Estate Principles coursework (cost approx $150), take the exam ($25), pass it and pay license fee ($200 in 1994), take 2 more courses in 18 months (another $300), sign up to work for a broker, pay your association dues ($700-1000/year), now you are in business. Many also take exam prepration course ($100). Real estate appraisers are licensed by the State's Office of Real Estate Appraisers (OREA), a branch of Department of Transportation (yes your DMV). Again, contact its Sacramento office, visit your local community college book store, talk to your local real estate appraisal companies, etc. Before you can take the exam, coursework requirements are very very extensive. If you study part time, it takes only one year to complete. Then you pay approximately several hundred dollars to take the exam. Should you pass it, be prepare to pay another several hundred dollars to get your license (total around $1000). Then you can work for a CERTIFIED APPRAISER (analogous to real estate agent and broker relationship). Not done yet, at this stage, your license is only PROVISIONAL. You need 2 years of experience in RE appraisal before you become fully LICENSED. That one still below being CERTIFIED.
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