Will I benefit from getting a real estate license?

Question

Aaron Lovett · Answer

Hi Account Closed,

Welcome!  As you can imagine, many before you have had the same ideas.  You can find detailed answers to all of these questions by searching the forums.  Briefly:

1. You aren't required to use an agent, you may represent yourself when buying or selling real estate.  Pros and cons to doing that - consider very carefully.

2. No one can tell you what makes sense for you, including whether or not to get a license.

3. Many people want to do real estate "on the side".  Keep in mind that being licensed is expensive (fees, taxes, etc.), so you'll need to do regular business if you hope to make money.  It's also very time consuming to work for clients, but if you are only doing your own deals, that might not be a big deal.

4. MLS access is only available to real estate professionals, such as agents and appraisers.  However, if you work with an agent, they can send you real-time information about anything listed.  You definitely want to have the accurate and up-to-date information that the MLS has - don't rely on Zillow.  If it's really just MLS info you are after, there are easier and cheaper ways to get it.

Browse and search all over BP - there's a wealth of information here.  All the best to you!

Account Closed · Answer

Thank you everyone for sharing your thoughts and information! I am very excited about this journey and really appreciate the quick response. After speaking with a realtor she made me feel obligated like I absolutely had to work with a realtor in order to check out homes and cannot contact a seller unless I had one represent me. As for the license, I'd like to take some classes so I can better understand the basics of real estate and I've also been approached many times by friends and family members who are interested in buying homes so maybe that would be a great way to start? I don't think I want to work for a firm but I was told that if I had my real estate license that I would need to be sponsored by one in order to sell in Rhode Island.

Robin Adams · Answer

Hi Kenedy, Feel free to contact me and I can give you all the info you need. On the short-  yes you need a real estate license to sell someone else's home and yes you need to be under a brokerage firm for min of 2 years before applying for a brokers license.

Arpan Patel · Answer

Agreed. Not a requirement but take advantage of their knowledge and experience in their pet markets. They have the battle scars to know how their area works and you could benefit from that. Not necessary to get your license.

Will I benefit from getting a real estate license?

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