Typically, the process of becoming a timeshare broker is identical to that of becoming a real estate broker. The majority of states make no distinction between the types of property being purchased or sold. However, real estate agents and real estate brokers will have slightly different licensing requirements.
Those interested in timeshare resales must first obtain a license as a real estate agent. Those who want to specialize in timeshares will almost always need to do some research on good locations. In many parts of the world, it can be difficult to make a living as a timeshare specialist. As a result, it is critical to seek out vacation destination areas.
Those interested in becoming a timeshare broker should look to the coasts, where there are many timeshare condominiums. In hotter climates, this is especially true. Other areas, such as family-friendly resort destinations like Florida and Hawaii, are also excellent places to broker timeshares. If the broker does not live in such an area, he or she will most likely have to supplement his or her income by selling other products, such as homes or apartment rentals.
After receiving a real estate license, the next step in the process is to work as an agent for a couple of years. Before applying for a broker’s license, most states require that an individual hold a license for a certain amount of time. Those who are interested in the field will take advantage of this time to look for job openings, gain experience, and network. Later on, this will make the job of becoming a timeshare broker a little easier.
More classes will be required before applying to become a timeshare broker or any other type of broker. These classes provide additional real estate law information, as well as management principles and ethics training. The broker is given more responsibilities to ensure that each transaction carried out by agents working for him or her is legal and correct. This is why more education is required to work as a timeshare broker. Timeshare transactions are frequently complicated and involve many more factors than a single-owner transaction.
The only thing left to do to become a timeshare broker is to find a job after passing the broker exam. Most will continue to work as agents in traditional agencies until a position becomes available. There may be other positions open at other companies for those who do not want to wait. Still, patience is essential. These are extremely competitive positions.