Are you a real estate agent in Georgia ready to level up? Here’s what it takes to turn that salesperson license into a broker license.
Step 1: Make Sure You Meet the Qualifications
Broker licenses are designed for real estate professionals with at least a few years of experience under their belts. After all, it gives you the power to open your own office and supervise salespersons — not a responsibility to take lightly!
To apply for a Georgia real estate broker license, a person must:
Have held an active salesperson or CAM license for at least three of the past five years, in Georgia or anywhere else
Be at least 21 years old
Step 2: Complete Your Pre-Licensing Education
Yep, brokers have to do even more pre-licensing education to qualify to take the exam. You can meet this requirement in several ways:
Complete a Georgia Real Estate Commission (GREC)-approved 60-hour broker pre-licensing education course OR
Complete a 60-hour broker pre-licensing education course approved by another state’s real estate commission OR
Complete nine semester hours of coursework in real estate topics at an accredited college, university, or law school
Step 3: Apply to Take the Broker Exam
This experience should be very familiar to you: It works exactly the same way as applying to take the salesperson exam. You can register online to take the test, or mail in the application and set up a testing time by phone. Find registration details in the candidate handbook.
As with a salesperson exam, you must register in advance. The testing sites are the same, and are found throughout Georgia. When you register, you will be required to pay the $121 exam fee.
Step 4: Take the Exam
The broker exam is set up very differently than the salesperson exam. Instead of multiple-choice questions, you will be presented with 11 simulations. You’ll have three hours to complete the exam.
Simulations? What Are Those?
Simulations each have three components:
The scenario, which sets the scene by describing the area of real estate (residential, commercial, or property management) and clients involved
The information-gathering sections, in which you select all the relevant info you will need to answer the questions
The decision making sections, in which you make judgments about the issues
You’ll be asked to choose the best option based on the information presented. There may be more than one right answer — your job is to choose the BEST answer. Confused about the format? Test administrator PSI sells a sample exam.
Scenarios can be on the following topics:
Agency relationships and property representations
Fair housing
Governmental regulations
Handling money
Training and supervision of licensees
Contracts
Freehold and leasehold property
Finance
Private restrictions
Land description and measurement
Valuation
Conveyance
Calculations
Ethical behavior
Step 4: Receive Your Score
Your exam will be scored right there at the testing center. You will be evaluated on both the information-gathering and decision-making sections.
If you pass (when you pass), you’ll be issued a Certificate of Accuracy Statement (just like with your salesperson license!).
Step 5: Apply for Your Broker License
If you’re planning to be an associate broker (work for another broker), you can apply for your license at the testing center the day you take the exam.
If you want to start your own firm, or plan to be a qualifying broker at an existing brokerage, you will be issued an inactive license. To start a firm, you must submit the Open a Firm application to GREC. To become a qualifying broker, submit a Change of Qualifying Broker application to GREC.
What Goes in the Broker Application?
A broker application must include:
The Certificate of Accuracy Statement you were issued when you passed the exam
A Sponsoring Broker Statement signed by your supervising broker (for associate brokers)
A GCIC Criminal History Report that is no more than 60 days old
Your old salesperson wall certificate and pocket card (won’t be needing those anymore, sniff sniff)
The license fee is $170 in the first 90 days after passing the exam, or $340 after that, payable by cashier’s check, credit card, or money order. You have a year to complete your application after passing the exam.
Step 6: Celebrate!
You did! Congrats, broker.
Want to learn more about being a real estate broker in Georgia? Check out our career center.