We Buy Houses - Riverside, California

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We Buy Houses - Riverside, California

Licensing Requirements: In the United States, real estate agents must be licensed by their state to perform activities related to buying or selling property for compensation. This requirement ensures that only qualified individuals handle real estate transactions.

  • Commission Structure: Real estate brokers generally receive a commission for completing a sale successfully. We Buy Houses - Riverside, California The commission usually ranges from 5-6% of the property's sale price but can vary by state and region.

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    • Broker vs Agent: A broker may work independently, whereas an agent usually works under a broker's supervision. We Buy Houses - Riverside, California Both brokers and agents must disclose their relationship with clients according to state laws.



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    • Historical Licensing Changes:

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      • Some states have eliminated the salesperson's license, automatically granting all licensees a broker's license.

      • Lawyers can sometimes handle real estate transactions without being licensed as brokers if it is incidental to their legal practice.

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    • Multiple Listing Service (MLS): Before MLS was introduced in 1967, the term "real estate salesperson" was more appropriate since brokers primarily represented sellers by providing legal documentation services.



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      Educational Requirements:

      • Continuing education is mandatory for renewing licenses; for example, California requires 45 hours of continuing education every four years in various topics such as agency law and ethics.

      • College graduates may apply directly for a broker's license in some states after completing required courses.

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