California Department of Real Estate and the State’s Market

Since I still haven’t heard back from the teacher, I decided to do some reading ahead. So here are some highlights from the start of the first section:

The DRE
As someone who wants to get licensed in California, it’s your best bet to visit the California Department of Real Estate - www.dre.ca.gov. They have information about tests, licenses, and law. They even have a kids section.

California Market
In California the population is growing faster than the number of properties, meaning higher prices. People spend a quarter to a third of their money paying for their home loans, and that’s not including property taxes. Buying a home is a momentous decision. Brokers are the people that make the transactions happen.

Terms:

Commission

sum of money, usually percent of the price, given to a broker for services

Escrow

a third party between a seller and a buyer, that holds the money and makes sure all the contract details get worked out.

Real Estate Broker

the head cheese in charge of the sales agents, loan people, appraisers, escrows, and all. He or she is also in charge of paying his commission to everyone that helps make the deal go through.