Should I...?

5 Replies

So as i discussed briefly in my profile i am a newbie. I do have quite a bit of knowledge on real estate because Im so passionate about it that i consume myself with books and podcasts. Starting off in real estate I am primarily focusing on wholesaling in my local area (Lincoln Nebraska and potentially into Omaha as well) to start building my capitol at which point I plan to scale this up in a big way. Throughout the podcast I've listened to it seemed like the consensus was to not get my real estate license because it would just make things more difficult to do what I am planning to do, however after listening to the biggerpockets podcasts Im no longer so sure. So my question is as a real estate investor in NE will it benefit me to get my realtor license or will it only make things more difficult? And if I should get my license, then should I get a salesperson license where I would need to be under a brokers supervision or should I get a broker license? I can wait to get everyones feedback on this. Thank you biggerpockets for this amazing community to be able to reach out for help. This is exactly what I needed to find right now.

Getting a license, makes it easier to get access to the MLS which is vital. When you talk to potential retail sellers, you just disclose to them that you are a realtor AND an investor who looks to buy and hold and flip properties for profit.

I am not a realtor, but I work with many of them. Access to the MLS through the realtors is how I do it. If they want to move a property to me, they have to provide qualifying comps.

I am also part of a large investment group that is forming a database similar to the MLS.

My business partner is thinking about getting his license, and I'm not opposed to getting mine. I just don't have an urgent need at the moment.

@Curtis Hiner  

By all means get a real estate license if you plan to continue working in real estate. The benefits of a license are numerous. For one, access to the MLS is a huge benefit. The ability to list and sell property and collect commission for that work is another bonus.

A salesperson license must be placed with a broker.  Real estate law varies by state in terms of the requirements to obtain a broker license.  You can operate your business very effectively with a salesperson license.

Every business requires planning, financing and action.  Every business requires the use of certain tools.  You can begin at once by writing a plan, setting a budget and taking action.  Set up a real estate investment business by this method.   

One of the tools for a real estate business includes a license. When you make the decision to get a license, you will need to invest in the education courses to meet the requirements for the state exam. Once licensed, finding a broker to work with requires the investment of time to search for the correct broker for your business plan and money to pay for MLS subscription dues and any other requirements set by the broker.

Following your own business plan and working within the budget you set will help you to make decisions that benefit your business as you continue to build. Continuous learning is a part of this process, and as a licensee you will gain knowledge fairly quickly under the guidance of a broker and in the practice of real estate.  

It takes money to make money and the real estate business offers a fairly low threshold of entry in terms of initial investment. Also, you determine the pace and the investments you make in tools for the business. To be an investor in real estate means investing in your own business. 

You can get your real estate education through community college, university or through a real estate school. Study in a classroom style setting or independently, through online programs. If you would like recommendations for real estate schools, please contact me. 

Lastly, you can start your real estate business now.  Remember,  a license is a tool, and you will continue to acquire different business tools  as you go along.  The good news is that you can begin where you are and with the resources you have in hand today. 

Thank you for your advice and input Lance

I'm in a similar place as you and i'm pursuing my license right now. I'm not saying you should or shouldn't get yours. For me It's going to beneficial in what I want to do in real estate investing. Also if you get the license and you don't see any benefit in it you can always drop the license.  

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