Hey WSO,
I am currently working in acquisitions and was looking into acquiring a broker's license in CA. One of the requirements is two years of work experience as an agent or equivalent work experience. Equivalent Experience Worksheet
"An applicant may qualify with two years full-time experience in any of the following areas: • Experience as an escrow or title officer or as a loan officer in a capacity directly related to the financing or conveying of real property. • Experience as a subdivider, contractor, or speculative builder, during which time applicant performed comprehensive duties relating to the purchase, finance, development, and sale or lease of real property. Being licensed as a contractor does not qualify an applicant on the basis of holding that license. • Experience as a real property appraiser. • Experience as a property manager, exempt under Business and Professions Code 10131.01 or 10133. • Members of the California State Bar need to demonstrate that they have satisfied the two years full-time licensed salesperson experience requirement or have at least two years real estate related experience while practicing law in California.
Other types of direct real estate-related experience will be considered, provided that it satisfies the intent of the law. It should be noted, however, that claims for equivalency by unlicensed persons for activities which require a real estate license will not be considered."
Has anyone seen acquisitions experience successfully fulfilling this requirement? Any alternative paths besides working at a brokerage for two years?
Thanks, -SA
I didn't know they still offered equivalency experience. Maybe they got rid of the undergrad degree as equivalency...
I got my brokers license in 2001 with equivalency experience and it wasn't hard. If you are directly involved in real estate transactions, my guess is you'll probably get it.
Do you have an idea what you want to do with your brokers license? In Ca you do everything and anything.
I agree with PacNumber . I have my CA Broker's License but have been in residential brokerage for 2 years. If you have a degree in real estate you can also take your broker's test. But I would imagine working in acquisitions should be equivalent experience.
Pac, thanks for your answer.
CA still does have an equivalent experience form. I talked to the BRE department, who told me it was basically decided upon submitting the application. Take the classes, pass the tests, and apply with the EE form and see how it goes. He also emphasized "intent of the law", so no clear answers. I also got some mixed responses on another forum where I posted, so I'd like to know if it has actually been done before.
I'd like to be able to transact my own deals in the future and in the longer term when the market starts to pick up after another recession.
Thanks,
-S
If your application is denied (though I would be doubtful if it is), you could get a salesperson's license and hang it with some private broker who won't charge you anything. After two years have him sign off on your having worked full time and then get your broker's license. This is the long route but it is a possible workaround.
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