Should I get my Real Estate license?

8 Replies

Hello everyone, I'm new to BP and I'm so glad something like BP exists. What a great resource. My wife and I own one duplex so far and looking to get more. I'm thinking about getting my Real estate license also.

My question is, is a RE license a good thing to get for a RE investor? Pros? Cons? How many RE investors have there RE license?
I'd love some feed back. ~Adam

Adam, no replies in an hour, probably because there are at least a thousand posts on this topic, might search.

I suggest everyone going into RE go take a class for agents to get the basics of RE so they have a clue as to what goes on instead of all the guru crap. At least buy the book put out for your state. After the class, you'll know if getting the license is the thing for you to do. :)

The advantage of the license is that you'll learn some of the basics of real estate, and after you have your license you'll be able to hang it somewhere where you will be able to access comps.  Another advantage is that you may be able to get part of the commission by representing yourself.

One of the cons is that you have to disclose your license to buyers and sellers, and on your signs, etc.  That shouldn't be that big of deal to most buyers or sellers.  And there will be plenty of fees to pay depending on your location.  

It's not a bad way to start.  That's how I started.

Adam Worth 

welcome to the site.

I'd recommend it. It can be a huge asset for multiple reasons.

Adam Worth - I think it's a good idea considering the cost is nominal. 

I'm looking to get my shortly.  The benefits are I can go see a property whenever I want and make offers on my own behalf! 

"The cost is nominal" - depending on where you are, and also your definition of nominal.

When it was all said and done, it cost me about $2500 and 80 hours of learning, test prep, and stress to get licensed.  For us, $2500 was a significant portion of the cash we are starting with.  

I think it sets the do-ers apart from the thinking-about-ers.  Not saying you HAVE to get your license, but the fact that we are now $2500 in inspires us even more to get our first deal so we can start seeing a return.

24/7 unrestricted MLS access and the ability to view houses whenever, wherever, without needing an agent to let us in has been well worth the initial $2500 investment. Bonus perk - a few acquaintances have asked me to help them buy / sell, so hopefully having my license will pay for itself.

Thank you all for your input. I am new to this site so I didn't see other posts on the subject. After some fooling around with the search option I found LOTS of posts on this exact subject.
To me I see more up side then down side.
Thanks guys for your Input.

Not only would I recommend getting your license, I think you are missing way too much if you don't.

When you realize the power it gives you, combined with your ability to buy and do creative deals, you realize that you are primed to beat out your competition.  I believe this so strongly, I have an hour long speech I give once a month on the topic!

With having BOTH tools under your belt (creative and traditional), it is so easy to beat the competition to the door.  While they are busy screening calls for equity, you are walking away from the house with a contract (sometimes to buy, sometimes to list).

Especially in a hot market like this, where leads are tough and expensive, you can't leave them wasted.  I have not once lost a deal over a license.  I have missed out on deals not having one.

No brainer.

P.S. getting your license doesn't mean you have to sit at an office doing phone duty.  I sit in my car and meet sellers!

Thank you all for your input. I am new to this site so I didn't see other posts on the subject. After some fooling around with the search option I found LOTS of posts on this exact subject.
To me I see more up side then down side.
Thanks guys for your Input.

Daniel...I love how you worded the importance of getting it and the creative things you can do by having it. I was always of the mindset of "Either Or" ...Not both. But after talking to you guys and doing lots of research It would be a mistake NOT to get a license. Thank you all for pushing me over the fence...I needed that.

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