I’m certain that a real estate license is necessary to sell commercial property, but is it required for selling residential property as well? Am I required to have a license to conduct leasing activities? I recently moved here to Minneapolis from another state where I was able to sell and lease under my employers/broker’s license. I am getting mixed messages when I search for this info online because the laws vary from state to state.
Am I required to obtain a sales agent license to conduct leasing activities in Minnesota? Can I expect that the earnings will be comparable to what I was earning in Chicago?
teran_realtor said:
May 29, 09 at 7:48 amYou are correct that laws vary from state to state. On the issue of needing a license, you need one to manage a property that does not belong to you or your employer.
In your previous job, were you leasing property that belonged to your employer? If it was property that your employer (who is a broker) was managing for someone, then you were probably supposed to have a real estate license to operate under his broker’s license.
You can sell your own houses, or work for a builder and sell their houses without a license. To sell a house that does not belong to you or your employer, and get paid for it, you must have a real estate license and be sponsored by a real estate broker. (to operate under a broker’s license, you must have your real estate license)
loanmasterone said:
May 29, 09 at 6:19 pmIn order to sell a house that does not belong to you, even if you are working under a real estate broker, you would still need a salesman license issued by the state in which you are selling property.
I know of no state that would allow a person to work under a broker to sell other people houses.
If you are selling your own property, you may sell as many of these as you want.
I hope this has been of some use to you, good luck.
"FIGHT ON"