Brokers License/MLS access

[Abena Yeboa]

Hi Everyone,

Starting to learn about real estate investing and interested in continuing to learn more. I have a question on opinions re: whether it is advisable to get a brokers license for MLS access. I am an attorney and would not require the exam, education and certification requirements.

It seems like it is pretty helpful as an investor from the podcasts and various information I've reviewed. However, as I understand, you mostly get MLS access depending on the region/state. I live in NY and would get the license here but am interested and have been exploring opportunities in GA, TX and PA.

Would it still be useful to be licensed in NY?  Curious to hear others thoughts on what they would do and advice!  Thanks much in advance!

[Russell Brazil]

The often overlooked downside aspect of having a license is that it can hurt you when negotiating your own deal. Sellers and agents are much less apt to negotiate with a licensed individual. And its not unheard of, that if you get yourself too good of a deal, down the road the person files a complaint with the states real estate commission and say that you took advantage of them. Also throw in, e&o insurance does not cover you when you are a principal to the transaction. That last part is the main reason I no longer represent myself on my own deals.