Realtor License /MLS Access questions (Northern California Specific)
Hi,
I would like to start off by congratulating the founders and members of BP. To think about building a community to connect people with interests Real Estate is a good idea on paper. To actually build such a community with active membership from RE gurus and volunteer moderators is super awesome.
I have been on the fringes of buy and hold investing for a few years and am thinking of getting into it more actively. I had a few questions about getting a RE license, as I like the flexibility of checking out properties without having to coordinate with a RE agent. I would appreciate if folks on the forum could answer the following questions.
1. RE Broker: I believe every agent needs to be affiliated with a broker, with whom the realtor splits the commision. I am not a 100% sure of the role of the broker in the transaction. Can someone explain that to me. Also, are there brokers that are more investor-friendly than others. Is the typical commission split different if I do all the legwork myself and use the broker only for paperwork.
2. Cost of RE License: I am not entirely sure of the total annual cost of being a realtor. I guess there is the cost of RE education (variable), exam and licensing (~300 dollars in California). I am not sure the cost of MLS membership. I am interested in MetrolistMLS (For San Joaquin and Stanislaus COunty) and NorcalMLS (for Santa Clara/Alameda County). I am interested in the ability to view MLS data and have access to the magical realtor electronic key. I am not interested in listing properties.
3. Bid on HUD/Homepath properties: Is there any special steps I need to do to be able to bid on HUD properties.
Looking forward to answers