Taking the RE Agent course, but not becoming licensed?

Question

I just read through all the threads on the pros and cons of getting licensed for an investor.

Someone recommended doing the coursework for the learning experience, but not actually getting licensed (due to the annual fees, disclosure, etc.). Has anyone done this and has it provided any tangible benefits? Is there a way to do it cheaply online?

Michael Quarles · Answer

As a Broker in California and Investor with a ton of deals done I cannot see the advantage of taking the courses if youre not going to take the test and obtain the license.

Frankly the information on the exam is worthless in the big picture of real estate investing. The MLS access may have its advantge however as mentioned youll have to have a license or you could be registered as an clerical user under someones license.

J Scott · Answer

Inactive agents likely don't have access to the MLS (certainly not in my state)...

But, as I mentioned in another thread, if you buy one $40K house per year, you'll probably end up making money by having your license.  Of course, as I also mentioned in that thread, there is a lot of paperwork that comes with it.

Chris Calabrese · Answer

I think the knowledge gained in the course could be useful to some extent, but not worth the 40-60 hours of course time unless you plan on getting licensed.  The majority of real estate classes are focused on law - contract law, estate law, etc., and if you don't take the exam you'll need someone to handle this stuff for you anyway.

After about a week on this site, you'll have more practical investing knowledge than you can ever gain in a classroom.

Joe Delia · Answer

Agree 100%

Account Closed · Answer

I always thought MLS access was a REALTOR tool, which is different than having just a license.    In florida, you can't have access without having a license (or some agent in your pocket which for the record is totally against the rules and comes with nasty fines if you ever get caught.)

As for doing the course and taking the test but not getting a license, it seems like thats just like going to a bar, buying a girl a drink, driving her to your place and then telling her you aren't interested.     Seems like you can get the experience in other ways than going the distance...

Anyways just buy a used copy of the real estate course and read the various chapters.   Take the self tests if you want and call it a day?    Most agents pass that test with like 20% of the questions wrong anyways.

James Vermillion · Answer

J brings up a good point.  I also looked very quickly on the Florida Real Estate Commission and did not see anything about inactive licenses.

James Vermillion · Answer

You would not fall under a broker since your license is essentially inactive (you couldn’t act as an agent for anyone even if you wanted to). As to the MLS section I am not sure about that...I would call your state's real estate commission and find out.

Bienes Raices · Answer

I don't know, I'll have to find that out...

Do you have to be under a broker if you do that? Can you still get MLS access if you pay for it?

James Vermillion · Answer

Does your state allow you to maintain an inactive or escrowed license?  This will limit the fees you pay but you will be a licensed agent (although unable to represent any clients).  One day you may decide to activite it and this would make it much quicker/easier.

Kyle Meyers · Answer

I have taken the class, and actually took and passed the test as well, but I am not licensed. I think it is valuable information to have, but I wouldn't spend too much on it since you can get a lot of the same information on BP.

As for whether or not you can take the class online, that varies by state, in Indiana, the class has to be taken in person, but continuing education can be done online.

An alternative that I haven't checked into really, would be to see if a local college offers any real estate courses. I am in college right now and taking all the real estate classes I can apply to my major and they are proving very helpful. If I were not in school now, I would have looked for a community college with real estate classes. I especially find real estate law helpful to understand more about.

Taking the RE Agent course, but not becoming licensed?

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