Updated almost 11 years ago on . Most recent reply
those of you that have your Real Estate License out there how have you used it
those of you that have your REL out there how have we used it to profit to your advantage? I am interested in learning more about investment properties and how to flip homes. I joined Bigger Pockets to gain knowledge and help start my success in real estate. I have already set my rout to gain my REL and know the advantages just wondering what your point of view is on it.
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posted the following message on another forum yesterday:
One of the best benefits of having your license is when you want to buy or sell something for yourself. For example, I bought something for $100k, put my own personal name down as the buyer's agent. Buyer's name was my own personal LLC. At closing I got $3k (minus any commission split with my broker) as a credit towards the funds I had to bring to closing. In the end that worked out to be $2500 or so that I didn't have to pay just by having my license and acting as my own buyer's agent. And that was just one deal. If you plan on buying multiple properties over time you can see how this could be quite beneficial. Not to mention only having to pay 2.5-3% as a commission when selling your own property vs the 5-6% you would have to pay to sell a property on MLS if you weren't licensed.
And then there are the commissions you can earn just by acting as a buyer's or seller's agent for friends and family, even if you don't want to become a full time real estate agent.
The only "downfall" I have found to having my license are the costs to maintain an active license, and the actual time it took to get the license that I could have spent doing something else. But I still found that time and those costs WELL worth it in the end.