Get a real estate license or stick with an experienced broker?

Question

100% chance I'm using an experienced investor friendly broker on the first deal. 100% chance I'm using one from deal 1-10 but what about after that? Im curious to see at what point if any I should get my license to help save out of pocket money at closing. Let's say for example I want to buy 1 deal every year here in San Diego County for the next 20 years. At what point would it make sense if I have no plans to sell homes full time or even to other people.

Ty Coutts · Answer

@Hunter Broschinsky

Very great question! I’ve often contemplated this same exact question myself as I also plan to buy one property a year for the foreseeable future.

For me personally since I’m already a licensed loan officer, it came down to a simple time management and return on investment question. For me, I noticed that focusing on my lane and expertise led to more profitable use of my time. If I spend X amount of time not just getting licensed as a real estate agent, but also the time per deal to draft contracts and negotiate terms, and it saved me Z amount of money.. then does Z divided by X equate to what I could make per hour if I just focused on helping people qualify for loans? And for me the answer was just let experts be experts on their craft and stick to where my time is best spent.

But this could be completely different for you so I encourage you to break down the math a bit and see if it makes sense!!

Russell Brazil · Answer

You dont need a license to buy property for yourself.

Everyone thinks getting a license is a great idea....but the reality is it costs thousands of dollars a year to maintain the license. And 87% of people who get a license, dont even renew it.

Get a real estate license or stick with an experienced broker?

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