Obtaining a real estate license for the purpose of investing
I would like to obtain my real estate license in the state of Maryland for the purpose of investing. I do not want to be a Realtor as a career or participate in transactions in which I am not either the buyer of the seller.
My objectives for obtaining the real estate license are:
1) To get access to the MLS listings
2) To be able to view the inside of properties on my own without having to coordinate with a realtor.
3) To be able to take my time in traveling to and examining properties in search for the best deals without having to be concerned that my realtor will only make $8 an hour after we look at 75 properties and I buy only one 50k townhouse.
4) To save the 2.5% commission that I would normally pay to the realtor. (Instead I would pay this to myself)
From what I understand, the effort to study for and obtain the license seems nominal. (About 60 hours?). And I assume the fee for obtaining the license is also nominal (a few hundred dollars)
However, I have two concerns having to do with parts of the process that I do not understand:
* Do I need to pay a broker thousands of dollars a year just to have the right to look at properties and represent myself in transactions?
* Are there any other *gotchas* such as other expenses or hoops to jump through that I am not aware of?
Thanks so much!