Do I have to work for a broker to get MLS access?

Question

My brother is a Wholesaler and he wants me to get my license so I can join him and expand his business.

I've been following his deals and I can see how having a licensed partner will help with transactions and getting access to potential deals off market is what he wants.

How does it work when you get licensed, are you stuck in an office?  I don't want to leave my current job for another "job" ..Do I have to work for a broker to get MLS access?

SF Bay Area, CA

David Hunter · Answer

In my part of Ohio, not only do you have a to hang your license under a broker (or be a broker), but you also have to be a part of the National Association of Realtors to gain access to the MLS.

Matt Lefebvre · Answer

@Budd Alipate That all depends on the firm you join.  Some firms are fine with you just "hanging your license" and not doing any work there.  Keep in mind, that you'll still have to split your commission with them if you are responsible for any transactions in your brother's business.

However, if you think you'll have access to "off-the-market" deals just because you have a real estate license, you might be thinking a bit incorrect... The only way you'll find off market deals, is by connecting and knowing the people that are selling those deals.  As soon as something goes on the MLS, it becomes "on the market" and will be published within the next few days to every site imaginable.  Zillow, Trulia, Realtor.com, etc.

And yes, to have access to the MLS, you generally need a real estate license.  You also have to pay a fee to maintain access to it.  I'm not sure what your state charges, but I have to pay $70 every quarter.

Account Closed · Answer

@David Hunter Interesting.  Always great to hear from pros :-)

Account Closed · Answer

@Matt Lefebvre

Thanx for the insight!  I will be getting my license this year for sure

Lee S. · Answer

I just got my license to increase the ways in which I can monetize leads as well as having MLS access.  I am hanging my license with a flat fee brokerage for $35 a month.  Total costs a year for everything should be around $1200-$1500 a year, well worth it to me.

Initially I thought I could work with another agent but within 2 days of starting some direct mail I knew I had to get my license.   It was asking too much for the agent to run comps and do it in a timely fashion.  I can't stand waiting on people.  I put my investing on hold to get my license but i'm just about ready to get going again.

William Stokes · Answer

Same in Fl. The MLS/IDX is NAR's broker reciprocity system for Realtors. Meaning you will have to join and become a Realtor once you get your license. Not to worry, most brokers require it anyways for you to hang your license... but becoming a Realtor is pretty costly if you arent active and producing.

Matt Lefebvre · Answer

@Budd Alipate No problem!  If there's anything I can ever help with, feel free to reach out to me and ask :)

Do I have to work for a broker to get MLS access?

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