I've decided to get the ball rolling in REI. For those of you that have your RE license, do you have to get a broker to sponsor you? Is it useful to get license before purchase any property?
Yes to the first you need a broker. A license is useful if you understand the area you are investing in and do not need guidance, if you do need guidance I'd recommend going with an experienced realtor.
Hi @Vanessa Montiel ,
You are required to be part of a brokerage. The main benefit to getting your license is to earn the commission the Seller is offering by just representing yourself. The other is to gain access to the tools us agents have at our disposal, like the MLS, and the 100 of other tools that come with the MLS. But that MLS isn't free. MLS is owned by NAR, and you have to be part of NAR by joining a local real estate association. Those have fees and dues every year.
If you think it's worth your time to get the license, join a brokerage, join an association to save 3%, then go for it. But it's going to cost you about $1500 to start and $1000 a year.
If not, hire a realtor and save the time and headache. You also have the right to represent yourself in a purchase, but I would never recommend that to someone who isn't very experienced in the process.
@Vanessa Montiel where are you located? Course flexibility, cost to license varies by state.