Updated almost 5 years ago on . Most recent reply
Real Estate License in Oregon
Hi everyone.
I'm brand new to real estate investing and the forums.
I'm listening to the podcasts and I'm hearing over and over that it's a good idea to get your real estate license.
I love that idea, but to do it, you have to have a sponsor for several years - and that usually eats 3 percent or so of your profits (from what I've read in my research).
Anyone here from Oregon and knows how to get around that since I'm not interested in the profession - just the license?
Thank you all for your help!
Most Popular Reply
Quick Google search on Oregon shows you guys the slight exception when it comes to nomenclature as both levels of licensure are called "brokers." You just have "brokers" working for "principal brokers." In most of the rest of the country "agents" are the first level of licensure and they work for "brokers" as the second level of licensure.
If you aren't interested in the profession, you are kinda screwed. Or, you need to find an "investor friendly" (principal) broker.
Take a look at this thread as it might help. I also have a long explanation on how commission work as well as the split with your (principal) broker.
https://www.biggerpockets.com/...
What do you want out of the license? Access to the MLS? Keep a portion of the commission? Networking? Ability to view on-market properties on your own time?
https://www.biggerpockets.com/...
Also, don't forget that keeping an active license will cost you $2k to $3k annually in dues and fees.