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A real estate license is an authorization issued by a government body to give agents and brokers the legal authority to represent a home seller or buyer in a real estate transaction. Real estate agents and real estate brokers are required to be licensed when conducting real estate transactions in the United States and in a small number of other ...
Real estate agents and real estate brokers are people who represent sellers or buyers of real estate or real property. While a broker may work independently, an agent usually works under a licensed broker to represent clients. [ 1 ]
Some states may require a written examination for a license, while others may require several years of field experience as a student or intern, or both. The requirements regarding who must be licensed may include uncommon or strange licenses; for example, four states require licensing for interior designers. [4]
Conversely, efforts can be made at interstate reciprocity, so that a license or a certification earned in one federated state or province qualifies the holder to practice in any of the other states or provinces of the federation, which can lower the overall cost and burden of adequately staffing the profession in all regions.
Building wealth through American real estate Real estate has been another cornerstone of wealth creation in America, and the current housing supply gap highlights a unique opportunity for investors.
The National Association of Realtors (NAR) is an American trade association [5] for those who work in the real estate industry. As of December 2023, it had over 1.5 million members, [6] making it the largest trade association in the United States [7] including NAR's institutes, societies, and councils, involved in all aspects of the residential and commercial real estate industries.
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A real estate license must be obtained from the DRE in order to engage in the real estate business and to act in the capacity of a real estate broker or salesperson within the State of California. Before applying for a license, all education and experience requirements mandated by the Department must be fulfilled. [ 6 ]