Hi everyone! Quick question.
Can I take real estate classes, pass the licensure exam and have full access to the MLS? Or am i required by law to work for a brokerage, continue education each year, work a certain amount of hour each week, ect.? I want to invest in RE and just want access to the MLS. Is this possible?
Not sure how your state is, but if like most others including mine, then no. You have to be under a broker until you can become a broker. And no matter what, you have to keep up with the continuing education etc to keep your license.
You aren't ever required to work a certain number of hours. Brokers are independent contractors, not employees, so your managing broker can't make you do anything.
That said....you will have to get your license, and hang it with a managing broker. You'll also need to maintain it according to your states requirements, including CE. However it's not a ton, here it's 12 hours per year.
Finally, you'll have to pay the MLS dues each year...which are reasonably significant.
@Ryan McElroy You will have to check with your state as to whether you will have to hold your license with a broker. You will have continuing education classes to take.. Also there will be MLS and Board fees as well as you broker split.
My goal is to invest in RE. I have had my license for 9 months. It is great to have and there are lots of resources available to you. I have recently taken the REO, HUD and Short Sale classes.
Feel free to message me if you have any questions about the test or license.
Yep, check with your state.
In Ohio, you have to be licensed, with a broker, and be a REALTOR to get access to our MLS (plus pay all the dues).
If you're just getting your license to get access to the MLS then you're better off creating rapport with a good agent you trust and asking them to set you up on their auto-notification with the criteria of houses you're looking for (On our MLS system, we have that feature to setup clients on auto-notification, so as soon as a house comes on the market that meets their criteria they'll get notified).
Also, if you get to know an agent(s), they may know of houses not on the MLS that will be coming on the market, so you could have first access to it.
Thanks for this post and those who responded. I also was curious whether to get my real estate license. Not just for the MLS but to have as credentials. I will definitely obtain it, but the right timing is where i have to weigh my options.
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