I'm thinking about getting my real estate license so that i can have access to MLS. So my question is since I'm really not interested in being an agent do the license actually have to be active and if so does that stop me from wholesaling. What would my limitations be here in Houston.
That is a very expensive way to get access to listings. First you will have to pay for all the real estate courses necessary to be able to take the exam. Then after taking and passing the exam you will have to pay for membership in the National Association of Realtors, the Texas Association of Realtors, and the Houston Association of Realtors. Then you will have to pay for membershp in the Houston Multiple Listing system.
Further, on every offer you will have to identify yourself as a Texas Real Estate Licensee.
So why not just go to the Houston Association of Realtors home page, where access to all listings are made available at no charge to the general public?
I completely understand and agree with everything you're saying. I know I can go to HAR homepage and see everything listed, however I can't see how much a home sold for and how it was purchased...you know whether it was financed or bought with cash. And I want to be able to accurately run comps. I have a property that I'm looking at now,but I'm not able to get the real comps on it. But I do understand what you're saying about the expense and the time of getting my license.
Chances are at some point you're going to need an agent, or you'll encounter someone who needs one.
Find an agent who is willing to be your "go to" agent -- someone you'll use when you need an agent, and someone to whom you can make referrals -- and that agent will certainly give you comps whenever you need them.
Winniferd, I think if you are purchasing homes listed on HAR, depending on the frequency you are purchasing them, having that automatic 3% commission on each purchase, and saving that 3% (if not the full 6%) on the sale can be worth the fees you would be paying. I would consider hanging your license with a 100% commission broker where your monthly/yearly fees are low and you only pay a small amount per closing to cover E&O insurance, etc. This is what I am doing, but I also work as an agent so it may make a little more sense for me. But again, if you are buying more than about $75,000 worth of real estate in a year (which is only 1 or 2 houses) then you are more than covering your fees for HAR/TAR/NAR/TREC/Broker/etc.
What sectors of real estate are you looking to invest in? How is the Houston market performing? I have read a lot of positive stories because of the energy boom in recent years.
Hi Winniferd, I came across this post and want to welcome you to the world of Real Estate investing. I am local in the Houston area as well. Are you focusing primarily on wholesaling?
Laurence, welcome to BP. Most of these Houston threads you are bumping up are more than a year old. I would recommend starting another thread for yourself, and the other investors in Houston will come out to greet you.
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