Updated almost 5 years ago on . Most recent reply
Real Estate License?
I am new to investing but have been pondering on perusing a real estate license. I am thinking it would give me insight into investing that I do not have already but wondering if it is or isn't a good idea. As BP is a huge platform I would love anyone to shed light on this little dilemma I have going on. I think it would be a good idea if I pursue a career in real estate but wondering what others think before I invest the money in myself. Thank you
Most Popular Reply
Hey @Kaden Dunlevy,
It really depends on what your goals are with getting your license. If you are just looking to do it for knowledge for investing, I would say there are better ways to learn about real estate investing. The actual license process teaches you very little about investing or the day to day real estate activity. The license process focuses more on technical knowledge rather than practical knowledge (how to calculate sq ft per acre rather than how to write a contract). You also should plan to spend about $2000-$3000 throughout your first year by the time you pay for the course, tests, MLS fees and broker start up fees. Many brokerages also take a percentage of each sales commission that you make.
If you want to become an agent as a career, it's going to be a different answer. At the end of the day, it's really about your goals and what you are hoping to accomplish with getting your license. It can be a great career if that's the path that you want to take, but it's definitely a career that requires you to be very self driven.
I'm in Edmond, so I'd be happy to meet up and chat with you about pros/cons!