Should I get licensed?

Question

I am just getting started in Real Estate investing, flipping and wholesaling. Do you think it would be advantageous to get licensed?

Will Barnard · Answer

Getting a RE slaes licnese has the good and the bad.
The good: access to MLS without a third party, ability to get commissions on your own transactions and on referral transactions.
The bad: the time, and costs involved, the disclosures you must give, and the limitations it puts on you as a licensed agent. Investors can do some things that agents can not.

Your call from there.

My advice, don't get one, be an investor not a sales person, and have your wife (if you have one) get a license - best of both worlds.

Dustin Phillips · Answer

If you have the time and think it will help your business then yes. If you have access to the MLS and just want to "invest" then no.

I have access to the MLS so I did not see the benefit in going through the course to get licenced. Though some have a differnet view it is a personal choice...

Account Closed · Answer

Dustin

How do you have access to the MLS? Is there a third party you can use to gain access?

Chris Parmenter · Answer

I have found simply getting access to the MLS is far better than becoming a Realtor for the same benefit. My partner is a Realtor and to me the only benefit is he has a bargaining chip with his commission when dealing with other Realtor's. He always lets them have both sides of the deal and that can be very helpful with getting offers accepted!

Mark Brian · Answer

Remember that all the expenses involved with getting your license can be a tax write off. The classes involved with getting your license can help you, but can you afford the time to go to class, take the tests etc?
          
          To me, the main question is whether or not being licensed will interfere with your method of doing business.

J. Lamar Ferren · Answer

What benefit will the license give you? That is the real question. Because to invest in real estate, all you need is to be a principal in the transaction. You don't need a license.

Matt Kearney · Answer

I think having a RE license is a definite plus. Access to the MLS is key.... plus you can get commissions when you buy and sell your own stuff, and get referral fees from other agents for dead leads that you can't buy.

I always disclose it when I'm dealing with a seller and have never once had an issue. Usually it adds some credibilty.

Ted Harris · Answer

check out this past forum where your question was discussed in detail ....

http://www.biggerpockets.com/forums/21/topics/35298-can-attaining-a-re-license-in-any-way-be-a-detriment-to-a-re-investor-

Should I get licensed?

Most Popular Reply