Real estate license

9 Replies

Hey, I'm a new investor living in Orange County. I realize that this is not the optimal time to invest in California. I am wondering if it is worth the time to get my real estate license. I want to know the pros and cons of getting my license

Hi Jack and welcome. If you search the forums you'll see this is an ongoing debate/discussion and there is no right or wrong answer. It's a personal decision. The main question would by, what is the main reason you would be getting your license? Would you be looking to list and sell properties? Would you be looking just to get access to the MLS? There are quite a few costs involved in having your license if you want more than just MLS access, which comes at a cost as well. I would recommend searching the forums and reading some of the other discussions so you can see arguments made by both sides to help you make your decision.

Cheers!

Eric

I'm considering getting my license just to have access to the MLS. Do I need to work for a broker in order to gain access? If so, are there other fees to consider other than just renewing the license? Thanks in advance for the advice?

Originally posted by @Andy Tomlinson :

I'm considering getting my license just to have access to the MLS. Do I need to work for a broker in order to gain access? If so, are there other fees to consider other than just renewing the license? Thanks in advance for the advice?

Hi Andy! Unless you license yourself to open your own office, you will get your license and "hang your license" in someone else's office. The fees vary among the offices. Generally speaking, the larger and well more known the office, the higher your fees will be. I would interview several offices and see where you feel the most comfortable. There is also ongoing training that is required an an agent. You get access to the MLS and the ability to network with other agents. Great for investing! Good luck!

Medium dowd logoMichael Dowd, Dowd Properties | [email protected] | 309‑807‑3355 | http://www.dowdpro.com | IL Agent # 471.018854

It really comes down to how much you want to use your license vs what you want to do for yourself.  It can cost a fair amount to get in on everything with your license.  granted one commission can cover it all.  I just looked at it as part of my investment strategy and it made sense for me.  

You can also find the hands off brokerages where you wont have that support, but pay no monthly fees, no splits and just a fee per close.  I mention this as you said that youd be doing it solely for access to mls.  But, be warned... without proper guidance which youd get from a traditional broker, youd possibly flounder.

Definitely read the pros and cons and see what feels right for you.  I am taking my exam in a few weeks and plan on doing the same thing.  Not acting primarily as an agent, more so an investor in any capacity, but would have that license in my investor tool belt.  Disclosure seems to be the biggest turn off for those who object to getting licensed.  For me, it adds to my arsenal, I'd imagine.  It will be personal preference and you most likely wont see the true benefit or burden from it until you've reaped its rewards or been dealt a swift blow such as offers not being accepted just because you have a license.  Hope this helps.

Thanks a lot, guys, for the insight! Looks like there might be a little more to think about than I thought. 

Brent, my views fall exactly in line with yours on this subject. Did you by any chance take the course online?