Getting your real estate license: when is it worth it?

Question

I am considering getting my real estate license, but I'm not sure at what point it would be considered worth it? I have a full time job, so I would only be able to show houses in the evening and on weekends. I am also unsure of the yearly costs associated with keeping up with the license. How many houses would I need to sell per year for it to be worth it? Any advice would be appreciated.

Russell Brazil · Answer

I think if you are doing 5 plus transactions per year it is worth it. At 4 or less per year I don't think it's worth it.

John Mathewson · Answer

@Jared Wolf If you are interested at all in Real Estate I would recommend you get licensed. Yearly costs can vary quite a bit depending on where you are and such but typically If you just deal 1 deal a year you will cover your expenses. To me the information and connections it opens up make it worth it regardless. Hope that helps some. Please let me know if I can help at all.

Brandon Eleazer · Answer

Hey @Jared Wolf

If you're considering getting the license strictly as a side job/extra income it's generally not recommended....just stay focused on your primary business.  However if you're just getting started in investing or you're thinking about a new career, then sure give it a shot. There's not much risk if you're still going to keep your full time job. You can get a license in a short amount of time and for little cost, and you'll learn a lot. I wouldn't worry about your limited availability because lots of clients work on the same schedule as you. However, I'd still consider partnering with another agent in your office so that you'll have someone to handle paperwork and stuff during business hours when you can't get to it.  Some brokers have in-house transaction coordinators who also help with this.

I'd also say go for it if you're only getting the license to have MLS access and not depend on an agent to buy properties for yourself. That is, unless you can hook up with an agent who's willing to give you access to his/her MLS instead (maybe for a small fee). I've always had my license and can't imagine the hassle it takes to rely on an agent for everything...so many missed opportunities relying on others when you can just have the ability to do it yourself.

Chris Martin · Answer

put the 4 words real estate license value in the box at the top of the screen. There are a few thousand related topics for you to read...

Getting your real estate license: when is it worth it?

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