Brand new investor here. In my search to find my first deal, I have grown increasingly frustrated with the hassle of having to use an agent to schedule showings, especially when I want to coordinate with contractors or other specialists. I have thought about getting my Real Estate Agent License, and am wondering if the NAR Settlement makes it more or less attractive. I do not have much interest in working as an agent for others, but see the benefit of having access to the MLS and the ability to schedule showings. I understand the costs associated being an Agent (I actually took a course and passed the licensing exam a few years ago, but never did anything with it as I started a new career as a Firefighter).
I am currently doing all of the work in analyzing deals and researching properties, I'm just curious if the new environment makes more or less sense to get licensed.
Cost of e&o insurance, mls access, association dues, and electronic key access are on the verge of rising dramatically. As agent count drops, the cost of these items has to increase to offset the drop.
I'm literally involved in pricing 3 of those items and we are already discussing how much we are raising fees on them.
I'm budgeting double for e&o insurance. The others (outside of national dues) possibly 50%.
National dues could see a raise in the multiples, or come with a special assessment of an extra $500. Expect new members for several years as well to pay that special assessment. (Plus an increase in dues)