Real Estate License?

12 Replies

@Sarah Bojorquez I think there is not a simple answer to that question. It depends on how much time you have to devote to this. If this is your full time job or you are trying to make it your full time job, I think it is certainly worth it to get your license. Obviously you will save yourself a lot of money and from handling that aspect of the process, you will continue to become better at it. 

If you are like me or many people investing on here, you have a full time job that you are devoting the vast majority of your time to. And if you are looking for valuable properties, how can you possibly can any advantage when there are people doing this full time, 100% of the time? You need partners you trust. People that know the area, know what they are doing, know what you are trying to accomplish, etc. Sure you will be giving up a bit of money but ideally, the value they are providing is still such a solid value, the added costs are well worth it.

Just my two cents but you it comes down to how much time you are devoting to investing. 

Sarah, I have the same question. I do not have a license (just moved from Arizona to Missouri) and am considering one here in Missouri. I plan to not only invest in Missouri, but in my neighboring states as well, so I'm also considering/exploring the possibility of licenses in those states as well. It can be a lot of money. I'm not doing investing right now, but working on company LLC structuring (asset protection) prior to investing, plus I'm an entrepreneur (LLC in Arizona), but have no funds for investing at this point. Good question. I think a license can give us access to information that we might not be able to get through other means. But, to get a license, (at least in Arizona), you have to work under a broker to have access to MLS and I'm not interested in working under a broker, but I'm very interested in the information that's on there. Does Ohio require anyone with a license to be under a broker?

@Sarah Bojorquez Hey Sarah, Im considering the same thing. Im originally from Cincy as well (Elder/Miami Ohio), and live in Southern California for 30 years. Im just getting  started in RE investing and feel it would help me to have RE license for the education side primarily, not necessarily to practice real estate sales out there. Im going to look into online courses soon.

Yes, especially since you're asking (and after reading your other replies). Having a license is a "key". It gives you access to a lot of logistics and people. Mortgage lenders, title companies, other agents, and most RE attorneys will speak with you differently. It's a form of access... and you can learn a boat load and it gets you in the game. How far you take it, and where it segues is up to you. When I started out in RE (as a sales agent), I only worked with investors... so naturally, buying my first investment property was easy.

@Sarah Bojorquez , Ohio does offer the classes online now (check out Hondros College). The education piece of getting your license is far more about how to not get sued than it is how to be a successful agent. As an example, you'll look at exactly 0 real estate contracts as part of your education. You won't learn how to negotiate. You won't learn how to use the MLS.

Those are all taught by whatever brokerage sponsors you.

@Sarah Bojorquez

Funny that this thread is trending right now. I am a new investor relative to others in this forum, I have 4 properties and I have been working diligently at this for about 1.5 years now. I am starting real estate classes to get my license on Monday Aug 28 and I plan to work as an agent part time for the first year or so until my corporate job obligations are done. At that point I will more than likely transition into RE full time. 

I feel that if you are passionate about RE then its a simple answer, yes, because passionate people want to learn as much as possible about the subject matter. I feel like I have learned a lot from doing what I have done already, but the more you learn the more you realize you do not know. That being said I AM PUMPED to get rolling in that field which is night and day different than being a research chemist in synthesis and applications. 

Just my $0.02

Also, I would love to connect with folks who have made the transition into RE full time from a corporate job and started selling houses as agents. PM me pr respond to this thread. 

What about investors who are getting the license just to get access to the MLS, to view properties without having to ask an agent to take you, to have more control in making and managing your own offers, etc? How do you manage the brokerage apprenticeship part if you don't actually plan to work as an agent, aside from your own deals?

Originally posted by @Rachel N. :

What about investors who are getting the license just to get access to the MLS, to view properties without having to ask an agent to take you, to have more control in making and managing your own offers, etc? How do you manage the brokerage apprenticeship part if you don't actually plan to work as an agent, aside from your own deals?

 I am in the same boat as you, I worry about the opportunity cost.