New to Real Estate · Minneapolis, MN · Member since 2018 · 18 posts · 0 votes
Hello!
I can't quite remember how I came upon this but I was curious if anyone has experience with having a real estate limited broker license? I'm still doing research into it but figured I'd throw a post out here since details from someone's first hand experience would be really helpful too. I'm still debating if the associated costs are really worth it considering I'm just starting out.
Never heard of a “limited broker license”.....when you first get your license you have work as an agent under an existing broker. Until your license is activated with that broker it is not valid in any way....not sure what a “limited license” would be.
Just adding some additional information re: the limited broker license. From the quick searches I've done online I don't think all states have this so I'm not sure how common it actually is.
@Account Closed I can’t imagine what the advantage would be, since it only allows you to negotiate for an entity you are part of.....which you can certainly do without the license. It seems you couldn’t even join the local mls with it. Getting an ordinary real estate license would be much more beneficial.
@Wayne Brooks I didn't realize that you couldn't join the Local MLS. As I was skimming information I thought that with a limited license you were able to get MLS access and access to the lockboxes which was the main advantage I had in mind. I think I'll add to my to-do to reach out to the local MLS to confirm since if that is the case I don't think it would be worth it for me. Thank you for your input!!
@Account Closed Well, I could be wrong, we don’t have such a thing here, but since you couldn’t represent clients, and since I assume you can’t “hang your license with a broker” you couldn’t get mls access. Besides, since the realtor association and mls dues are the biggest “overhead” expenses of being an agent, I’d get the regular license anyway....more opportunities.