Benefits of having a realtor's license

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Benefits of having a realtor's license

Scott Howell
Drums, PA · Member since 2015 · 15 posts · 0 votes
Some say you should wait to get your realtor's license and others say it's a required. I want to do both buy and hold as well as flipping. What are some suggestions or experiences?
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Benjamin AakerPro Member
Rental Property Investor · Brandon, SD · Member since 2015 · 1k+ posts · 1k+ votes
9y

I recommend it. I think having MLS access is great to calculate comps. You also get a check at the end of the deal in a lot of situations. Downside is that at least in my state, you have to disclose you are an agent. I think that makes some people nervous that you must know more and are trying to trick them. Disclaimer: I have a license.

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  • Benjamin AakerPro Member
    Rental Property Investor · Brandon, SD · Member since 2015 · 1k+ posts · 1k+ votes
    9y

    I recommend it. I think having MLS access is great to calculate comps. You also get a check at the end of the deal in a lot of situations. Downside is that at least in my state, you have to disclose you are an agent. I think that makes some people nervous that you must know more and are trying to trick them. Disclaimer: I have a license.

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  • Dustin Frank
    Real Estate Agent · KS · Member since 2017 · 157 posts · 71 votes
    9y
    You certainly don't need a license to find good deals or become a successful investor. With that being said, I am glad I acquired my real estate license for the simple fact that I see deals before they hit the market. It's not uncommon for Realtors to ask other Realtors how they should market a property or talk about how their current client is going to get rid of 10 rentals over the next year or two. I hear comments like that and think "cha ching$$$...wish I had the investors lined up to make an offer on all 10!"
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  • David Michael
    Developer · Closter, NJ · Member since 2016 · 392 posts · 109 votes
    9y
    Hello Scott Howell ! I highly highly recommend it. Having access to your local MLS is priceless. Instead of waiting for an agent to help you with comps or use Zillow ( which is less accurate in my opinion ) you will be able to get comps to help you in your evaluation of The property. If you need further help please don't hesitate to contact me.
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  • Mike BuchheitPro Member
    Pella, IA · Member since 2016 · 8 posts · 15 votes
    9y
    I went through 22 years of real estate investing without a license and did very well. Then got my license and wished I would have had it years earlier.
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  • Jay HinrichsBusiness Member
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    9y

    Never leave home without it.. I cannot for the life of me figure out why anyone who wants to buy and sell real estate for a living ,, buy and hold or fix and flip ( now for a living mind you) would not want to have access to the MLS .. the hot sheet and get into homes on your own.. plus the deal networking..

    Not to mention stumbling into commissions..

    I got a referral once and hit if off with an investor who was looking for a apartment in PDX  5 mil 1031.. I had never brokered anything like that.. well I went in search took me about 10 days to find one he liked.. we made offer we closed I made a 100k fee.. all in 30 days or so and no more than I would say 20 to 30 hours of my time MAX.. 

    And then there is listing your own flips.. we list all our own local real estate.. last year we sold about 16 million worth.. now figure out how much we saved there.. ??????

    So yes I think its a benefit..

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  • Chris Purcell
    Investor · Philadelphia, PA · Member since 2010 · 739 posts · 372 votes
    9y

    It's mandatory honestly

    Pros: MLS access, money back on commissions when you buy/sell, can pick up random clients here and there who are buying/selling

    Cons:  expensive so you better be doing deals. CPE. Have to take a course and pass an exam (although easy)

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  • Scott Howell
    OP
    Drums, PA · Member since 2015 · 15 posts · 0 votes
    9y
    Thank you all for the great information! Other than the 60 hour pre-course exam, what makes the license expensive. I was listening to an audio book and it stated it could cost thousands but I'm not seeing it. What am o not seeing?
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  • Jake Hilden
    Realtor · Minneapolis, MN · Member since 2017 · 47 posts · 30 votes
    9y
    @Scott Howell The expenses vary depending on where you hang your license. You will pay for being a member of the National Association of Realtors, MLS access, and there is all sorts of miscellaneous fees from your broker. Each one covers certain fees and you cover some or some you pay for everything pretty much. When you talk to different brokers, that is a question I would ask and determine what fits best for your needs.
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