What is a Real Estate Broker?
There are several types of broker's licenses available, depending on an individual's career goals. In some cases, you may desire to be an Associate Broker, completing the required number of transactions and the additional education, but continuing to work in a real estate office under the supervision of a branch or principal broker. This title can increase your credibility with potential clients and fellow agents. You may wish to use your broker license to act as a Branch Broker, enabling you to manage a branch office of a real estate firm. Or you may wish to acquire your Principal Broker's license with which you could manage an entire real estate firm or manage your own real estate company.
The applicant for an associate broker/principal broker license must be at least 18 years of age and have a minimum of three years real estate experience and a total of at least 60 experience points accumulated within the five years prior to broker licensing. For more information on experience requirements, you may wish to consult the experience tables at http://www.commerce.Utah.gov under Real Estate Broker Licensing.
An applicant for a broker license must complete an approved educational program of 120 hours; the subject matter of the course will consist of 12 classroom hours in Brokerage Management, 24 classroom hours in Advanced Appraisal, 24 classroom hours in Advanced Finance, 24 classroom hours in Property Management, 24 classroom hours in Advanced Real Estate Law, and 12 hours in Utah License Law. The Division may waive all or part of the education requirement by virtue of equivalent education. Education waivers may be granted only by the Division. To obtain an education waiver, the applicant must provide to the Division valid documentation of his/her equivalent education. Unfortunately, experience will not satisfy the education requirement.
According to the Utah Division of Real Estate, up-to-date, well-run schools are essential to the success of real estate in Utah. The Utah Real Estate School, NRT is certified with the Utah Division of Real Estate to provide prelicensing, broker, appraisal and continuing education. |
