Real estate license in NY, good first step?

Question

Hello all,

This is my first post here on BP and I'm sure this is to be the first of many questions that I will hope to get answered.  As a way to get some knowledge and potentially be useful down the line, would it be a good ideal to get a real estate license?  I'm in Rochester, NY and I've come across classes such as:

http://www.careerwebschool.com/new-york/real-estat...

Which supposedly get you up and running for only about $300.  So that's a pretty low barrier to entry if the the knowledge gained in such a course is relevant.  Any thoughts?

Thanks!

Jared

Troy Luster · Answer

I think this is a good start.  But be aware of the hidden costs of being a real estate agent.  You'll have to pay a local board to be able to access property data on the MLS.  Depending on the area you want to cover, these add up.  For example the two main boards in my area cost around $2K/year.  Also if your broker is a Realtor, you'll pay additional dues to the National and Local Association of Realtors.  Some may view this as pricey, but as you stated I believe this is a very low startup cost to essentially owing your own business.  And lastly realize that to pay for these startup costs you will have to either spend more to attract clients through marketing or some form or sweat equity (door knocking, sphere of influence).  If you're willing to hustle, being an agent is a great way to save up a down payment.