What are benefits and stuff I can do with a real estate license?

Question

Hi all,

I'm currently 19 years old and have been interested in Real estate since I was 16. I recently talked to someone about it and they recommended get my real estate license. However, I feel like getting your license is only for people that want to be a realtor and sell houses. But that's not what I want to do, I'm interested in house hacking/STR/Wholesaling. I do move to North Carolina in August and wanted to see what I could do with my license such as things like weekend opportunities and extra money to get even more knowledge of this industry. Do any of you guys have any ideas of what I could do with my license if I were to get it?

Bruce Woodruff · Answer

If you do a search you will see that this question gets asked a LOT. Go look at the answers...but the consensus has been that no, it is not worth it unless you are going to be a Realtor, helping others buy and sell properties. Otherwise it has little in the way if advantages.

Scott Trench · Answer

The advantages are:

- Ability to represent yourself and your partnerships on deals.

- Ability to make money as a real estate agent by representing buyers and sellers.

- Ability to get direct access to the MLS in your local area and contact seller's agents directly.

I got my license for these reasons. So far, it has NOT been worthwhile for me as I have only used my license a few times, and spend hundreds of dollars each year maintaining my license, insurance, and MLS access, along with continuing education to keep my license active. So, I tend to agree with @Patrick Drury

Bruce Woodruff · Answer

You can do that with a license. Just let the seller know that you are self-representing and expect them to reduce the price by that same 3%....

Eliott Elias · Answer

You have access to the MLS, can make 3% on any property you buy or sell

Pat Lulewicz · Answer

Host open houses for listing agents, use your MLS access to walk any properties that seem like fixer-uppers to get better at scopes of work, work with investor-friendly realtors and go show their buyer's homes when they don't have the capacity, take video walkthroughs for out of town buyer clients.

Depending on what you want to do as your "day-job", you could work for a wholesaling company/wholesaler. You could also seek out investors, find investor-friendly agents, and connect the 2 to earn referral fees; just remember to find rockstars or else your referral will fall flat and hurts your rep.

Patrick Drury · Answer

@Daniel MuscarellaIf you're not going to be an agent full-time, I would recommend you not get your license. It's not worth the money. I joined an investment brokerage and became a realtor to learn more about investing in real estate. I owned a rental prior to becoming an agent, and it made the most sense for me to quit my previous day's job and pursue a full-time job in real estate. Also, it's a full-time job in real estate with the opportunity to meet people and build relationships in the real estate industry, which will carry over to investing in real estate.

What are benefits and stuff I can do with a real estate license?

What are benefits and stuff I can do with a real estate license?

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