Is it worth getting realtor license

4 Replies

Being a realtor is mostly a sales job and a lead generation job. Can you learn sales skills? If you are not dedicated to talking to lots and lots and lots of people, developing Rapport, providing great service, etc, than it can be pretty tough to make any money. It costs a fair amount of money to stay in business as a realtor...association dues, MLS dues, key card dues, office fees, E&O insurance, continuing education classes, license fees, and plenty it is a active profession to me....not a passive one. If you are assisting other people too you have a responsibility to be competent. So selling 1-2 houses a year many not be enough to stay competent.

If you just want to learn more about it, to be a better investor you can always take the classes, but don't have to spend the time or money getting your license.  Take the contracts class for example.  Won't make you an expert, but it is a good basic starting class.  Look at someplace like CE Shop for classes for your state, although there are plenty of other providers.

Just to clarify, a small technicality here for the general does not get a "Realtor" license. That is a designation for paying dues to a group. In each state you get either a license as a real estate salesperson, agent or broker, etc. One can be just an agent or an agent that has joined NAR and is also a Realtor. You don't need to be a Realtor to sell homes. I've been a Realtor but because that is residential focused, I no longer pay to be a member as I work and focus on investment properties. I'm "just" a WA broker. Haha!

To answer your question, it's not about being a good salesperson. It's being good at networking, negotiating and managing client relationships. I'm also in it because I am an investor and I love real estate. Best wishes on your journey.

@Thomas Rodgers I think the question is can you make more money being a real estate agent or doing what you are currently doing? Being an investor and a real estate are two different skills. One is identifying good deals, financing them and managing the asset properly. The other is networking and sales. Sometimes having a W2 job is more important, you have accessibility to conventional financing which makes closing on deals a whole lot easier. Additionally, if you are not a real estate agent full time and you facilitate your deals, you simply haven't ran enough reps to be competent and may be costing yourself thousands of dollars in missed opportunities. As an investor, having a real estate agent working for you and putting in the grind everyday sometimes makes total sense. It allows you can focus on the lead measures associated with being an investor, which tend to differ from an agent. You have limited time in the day, find the most efficient use of your time.