When you want the best results use a Broker

All three are licensed to provide real estate buyers and sellers with information, advice and negotiation of the sale. But there's usually a vast difference in knowledge and experience between them.

This is the first step when entering the real estate field. This person can obtain a real estate sales license by passing a Real Estate Principles course and a 2-hour California State exam. However, an Agent can't conduct any licensed real estate activity unless he or she is employed and supervised by a Broker. The Agent can work for only one Broker and must give that Broker possession of the license.

This is the next career step after Agent. Realtors are members of a local and national association. The association Codes of Ethics establish obligations that are higher than those mandated by law. Like Agents, Realtors must be employed and supervised by a Broker, and may only practice under one.

This final career step springs from a depth of additional training, special experience requirements, and the ability to pass a rigorous 5-hour state exam for the Broker's license. Brokers are also required to pass continuous testing in order to maintain their hard-won license.

And that's me. I'm a licensed California broker and a member of the San Diego Association, California Association, and National Association of Realtors®.

To get a sense of the large body of information that Brokers like me must know to obtain and maintain our State of California Broker's license, see below.

Examinations for brokers cover major aspects of real estate.

When changes in the law occur or changes in the practice of real estate take place, new subject matter is added to one or more of the major categories. Thus, the categories are revised and brought up-to-date on a regular basis.

Property Ownership and Land Use Controls and Regulations

• Classes of property
• Property characteristics
• Encumbrances
• Types of ownership
• Descriptions of property
• Government rights in land
• Public controls
• Environmental hazards and regulations
• Private controls
• Water rights
• Special categories of land

Laws of Agency

• Law, definition and nature of agency relationships, types of agencies, and agents
• Creation of agency and agency agreements
• Responsibilities of agent to seller/buyer as principal
• Disclosure of agency
• Disclosure of acting as principal or other interest
• Termination of agency
• Commission and fees

Valuation and Market Analysis

• Value
• Methods of estimating value

Financing

• General concepts
• Types of loans
• Sources of financing
• How to deal with lenders
• Government programs
• Mortgages/deeds of trust/notes
• Financing/credit laws
• Loan brokerage

Transfer of Property

• Title Insurance
• Deeds
• Escrow
• Reports
• Tax aspects
• Special processes

Practice of Real Estate and Mandated Disclosures

• Trust account management
• Fair housing laws
• Truth in advertising
• Record keeping requirements
• Agent supervision
• Permitted activities of unlicensed sales assistants
• DRE jurisdiction and disciplinary actions
• Licensing, continuing education requirements and procedures
• California Real Estate Recovery Fund
• General ethics
• Technology
• Property management/landlord-tenant rights
• Commercial/industrial/income properties
• Specialty areas
• Transfer disclosure statement
• Natural hazard disclosure statements
• Material facts affecting property value
• Need for inspection and obtaining/verifying information

Contracts

• General
• Listing agreements
• Buyer broker agreements
• Offers/purchase contracts
• Counteroffers/multiple counteroffers
• Leases
• Options
• Promissory notes/securities

Should buyers sign a BUYER / AGENT AGREEMENT contract?

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