To Be or Not To Be - Licensed

2 Replies

Hey BP folk!

My husband (Brian) and I are just starting out on our investing endeavors.   I am a FT Domestic Engineer (aka holding down the mothership with 3 small children).  Our question to you is regarding getting my real estate license in the state of Washington.  We would be looking to acquire this for our own personal transactions, so not looking for clients.  Our understanding so far is that you need to work for a realty co, and in order to eventually become a broker yourself you need to get some years under your belt and further education.  However, in many of the podcasts we've heard it being a great bonus to have your license but no one has mentioned having to put in time at say a Keller Williams.  So the answer remains unclear to me -   

CAN I GET LICENSED AND WORK OUR OWN TRANSACTIONS FROM HOME OR MUST I PUT IN TIME IN AN OFFICE?

Thank you SO much!

Elizabeth

You don't need to get a license to work on your own properties and if you are just using it to "save money" on RE transactions, its probably not worth it.  

In most states, you will need to be "under" a brokerage, this can be a large chain like Keller, or even a friend who has a brokers license and allows you to "hang a license" there.  I would say it is really only useful if you want to do it full time, even if you only want to do it full time for a year or two and then focus more on your own company.  

Not sure how long it would take to get a brokers license in WA (next step above RE) in some states it is as little as a year, others there are education/deals and other hurdles as well as requiring a few years.

We were looking at it more for the flexibility of looking at a lot of properties frequently, MLS access and being able to continuously put in offers without exhausting an agent who has other clients to focus on as well.

But this helps and I appreciate it.  Thanks!