Virginia Real Estate License

[Greg Garza]

I am just starting to break into real estate investing and figured it would be a good idea to get my real estate agent license. Is it a good idea and where is a good place in Virginia (Hampton Roads) to do so?

[David M.]

@Greg Garza

https://www.biggerpockets.com/...

https://www.biggerpockets.com/...

https://www.biggerpockets.com/...

Above are a few discussion threads that might give you some guidance on whether you want to get you license.

Other than it being helpful for access to the MLS and its associated data, you need to be able to handle the fees. It varies, but its about $2.5k annually in fees and dues. I think somewhere in last thread I detail out how commissions are handled where you get about really 1.25% to you (pre-tax mind you as 1099 income). So, depending on your price points of your market, it could take you 1-3 deals a year to break even...

If you are doing just long term investing, it might be useful just when you are starting out...

Also, getting the license tells you nothing about doing the job. I believe across the country each State's pre-licensure course teaches you about the terminology, laws, and regulations about brokering real estate. That's one reason why you have to work for a broker. Then, you have to learn about how to actually do the job, e.g. the paperwork, how to be a salesperson, how to show houses, how to get leads, how to list, etc.. Just Google "NAR Designations and Certifications" and see what additional training the National Association of Realtors (NAR) sponsors.

Being a real estate agent, not just a person with a real estate license, is still a profession.

Like everything, whether or not you should get your license really just depends... It depends on your goals, your tolerance for having to be a licensed agent, etc...

Good luck.