New Investor - Should I get my real estate license?

[Connor Cushman]

Hi All, I’m a new Investor currently looking and saving for my first deal and also have a strong interest in getting my real estate license. I want to get my license because I’d like to work as an agent in Utah for the next year or so. I’m confident that I can find moderate success with the network and skills that I have; however, I‘d like to make sure I‘m thInkIng about this the rIght way. I’m under a few assumptions that I’d like you all to either support or poke holes in. I assume that if I go through the real estate agent course and exam, that I’ll have several advantages as a new Investor: 1. I’ll understand more thoroughly the entire process of making offers, signing contracts, inspections, financing etc. 2. I’ll have easy access to new listings, market reports, email alerts that I can customize. I can also go look at any house I want any time. 3. Save 3% on any deal I purchase as I take the commission instead of giving it to an agent. 4. I’ll build a network as I work with other agents, lenders, and buyers/investors. Could you guys challenge my thinking here or suggest other reasons why this might be a good idea. Regardless, I plan to get my license to be an agent, but I’d love your feedback on if you think this will help me as an investor. Are there any hidden costs to being a realtor that I should be considering? Thank you all so much!

[Jackson Pontsler]

I want to first say that I think its great you want to be an agent.  However there are some flaws in your logic.  Also please realise that there aren't many part time agents.  The agent/investors that are doing well is because they treat one of those things as a full time job and the other part compliments it.

Lets address each point of your post.

1.  Never been an agent but heard from other agents that your classes won't teach you to negociate, put in offers, inspections, financing etc.   Its all  taught to you in the brokerage, usually working underneath other agents, or through the school of hard knocks where the broker tells you you messed up.

2. Yes but you can get an agent to aready set those alers up for you without having to pay the MLS fee.

3.  More like 1.5% because your brokeage will take a portion and can limit you on how much you make.  Side not Kellar Williams tells their new agents to charge 7%.

4.  These are all things you can do with out a real estate license.

Overall I recommend you to choose a hat and stick with it for a bit, after a bit then add the next.  If you try doing both things at once that may hurt more than help.  Its not easy being an agent or investor so you don't want to jump off the deep end and fail at booth.

Also if you find this helpful please don't forget to vote it up