Cost to get MLS access after I get my RE license?

Question

Hello All,

I have decided to get my RE license. However, I am not trying be a full-time agent. I just want access to the MLS to be able to run comps and schedule appointments on my own.

I did some research on what would be the monthly cost to be an agent with brokerage after I get my RE License.  This is what I got:

“Here are the minimum monthly costs an agent will have: (Monthly)

Marketing  $250 Insurance  $40 MLS and board dues   $50 Office fees  $200”

I wanted to ask if there is an option to pay just the MLS access fee to brokerage. I am from Atlanta, GA.  Also, if someone can recommend me the brokerage in Atlanta that might offer that service, it would be very helpful.

Tom Parris · Answer

Hi @Ashish Acharya

To get access to the MLS you have to be a Realtor. Realtor is a trademarked term that is owned by the National Association of Realtors. Meaning to call yourself a Realtor, you need to join your local Realtor Association. In my association, I pay twice a year. I pay my annual dues to the association which is $500 due in September, and my MLS dues of $350 which is due in two weeks. You don't get to choose just the MLS, you have to join the association. You'll also have to pay $15/mo for Supra, which is the electronic lockbox account to allow you to open one.

Every brokerage is structured differently. I pay a 80/20 split, with no fees period, desk fees and E&O is included. All my marketing is done by myself, and I control it what I spend. National Brokerages charge more because of their brand. Go boutique, you'll spend less monthly.

Good luck!

Berny Petersen · Answer

Hi Ashish - The short answer to your question regarding cost of MLS access is:   it depends.

I'll try to explain what I mean. After you get your license you will need to choose a broker to hold your license. All licensees in GA must work under a broker. That being said, there are lots of different fee structures available, mostly regarding commission splits and monthly costs. Generally the less you pay per month the lower the split, or there will be a "per transaction" fee that you pay the broker for each deal you close. Keep in mind that a lot brokerages will charge you for your personal deals, too, so even if you aren't doing retail business but are buying and selling for yourself you will still have to pay the split or transaction fee.

As far as cost of MLS access goes, that is dependent on the brokerage. Some include it in the monthly office fees, some offer it separately at a discount, and some don't pay for it at all.  I'd suggest calling or visiting several and the get the breakdown of their fee structure. Remember there is much more to it than just MLS access when you are doing lots of transactions. The broker with the lowest fees might charge the most per transaction, even on personal deals.

Hope this helps some, let me know if you have any more questions!

BernyP

Mindy Jensen · Answer

My Northern Colorado MLS access is $427 a year. And I have to be a licensed agent, but not required to be a realtor.

Ashish Acharya · Answer

Thank you so much. I am going to talk to few of the brokerage to see what they offer.  Just to clarify, even if I dont have to be an agent to get access to the MLS, I still need to get the access through the Brokerage right? Also, If I can find good deals via MLS, I am willing to pay fee per transaction rather than having no deals. Thanks you again.

Juan Jackson · Answer

@Ashish Acharya Hello, have you found a broker that fits yours needs for MLS access. My company is a member of GMLS and FMLS. I am looking for investor minded agents. Please feel free to contact me to discuss your needs. Talk to you soon!

Berny Petersen · Answer

I should clarify that post:

You do have to be a licensed real estate agent to have access to the MLS in GA.

You do not have to be a member of the board (Realtor). That part is optional.

BernyP

Berny Petersen · Answer

Hi @Tom Parris

In GA you do not have to be a Realtor to gain access to the MLS. It's optional.

BernyP

Cost to get MLS access after I get my RE license?

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