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Updated about 10 years ago on . Most recent reply

License or Not?
I've been doing some REI in S. Louisiana for a few years and have a few rentals and done so assignment of lease options. I want to step up my REI activity and income and am seriously considering getting my real estate license.
I would appreciate some feedback from agents about some specific advantages/disadvantages in having a license in conjunction with my REI business.
Most Popular Reply

Great question! I recently did a podcast with @JaredLichtin about this very issue. I've also written extensively about this as I am also an Agent/Investor who is a Broker in Arizona.
Put simply, the pro's are thus:
- Access to MLS Deals (Pocket Listings, and otherwise)
- Access to the Expired and Cancelled Listings (GREAT potential leads without any competition)
- Reliable, quick information about pricing (asking other agents and MLS)
- Agents become your Buyers.
- If you are a Realtor®, you know that the National Association of Realtors® Code of Ethics will ensure you get paid on referrals.
- You have multiple streams of income as you are able to both represent others as well as yourself.
- You are able to use that as a "Stick" against other Realtors® and Wholesalers in competition.
Of course, there are cons...
- It does cost to get a license, to maintain it, and pay regular dues.
- You must be associated with a Brokerage firm (I've written articles about how to find a good one)
- You must provide comparables (the Code requires it)
- You must use a State Contract (Again, code and standards)
- You must disclose your Principal nature (code, state statutes)
- You must disclose your intent (to flip, assign, or any of the above.)
In the end, I think it's worth it. Let me know what you decide!