I am new (or hoping to be) to real estate and live in Manhattan. I'm interested in getting a real estate license, if nothing else for general education, and pushing forward from there. Because I live in an area where I am in such close proximity to 3 states is there an advantage to one state license vs another (NY vs NJ vs CT)? In all likelihood, I would be transacting business in NY or CT. I will be targeting them first. Does it matter which comes first? Does having one help with the other? Can I hold both simultaneously?
Any input along these lines would be much appreciated.
@Brian Hall you can hold multiple licenses but you must take into consideration you must also pay multiple dues and take class/ exam for each state you hold a license in. Also anyone looking to become an agent I also like to recommend to them they read Gary Keller's "The Millionaire Real Estate Agent." Being an agent has a high turn over rate and I think this has to do with most becoming an agent without understanding what it takes to have true success. I am not intending to discourage you with this post I just happen to see a lot of agents come and go.
Thanks, Shawn. Love that book! He does a great one for investors as well.
I appreciate your feedback. Good things to consider.
@Brian Hall you should check to see whether any of the states have reciprocity with each other. That means you can take classes and get your license in one state, and then just sit for the exam in the other state without having to take the classes. You will have to ay the fees for the licenses to each state, but that is relatively cheap. The larger expenses would be paying MLS dues to each if you want access.
All the suggestions so far are great. In addition to the other suggestions, check the hour requirement. Normally, the one with higher hourly requirement will determine if you meet the individual state requirement.
Example I needed 99 hours. The surrounding states require 60 and 70 hours. At best, I may need to take their law class to prepare for the law portion of their exam.
Thank you for the suggestions. This will be helpful as I continue to push forward!
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