non-realtors disadvantage

10 Replies

I think i would have to switch from being a social worker to become a realtor in order 

to be a sucessful investor. Every time i search the MLS and find an interesting property,

it's already taken. I know R.e. agents get first pick, so how can the rest of us ever find 

profitable investments? Very discouraging.

yes i am -but i think all the good ones are gone first day on mls...or before

Why isn't your RE Agent getting you those faster?

It really depends on what you're looking for. If you're looking to flip then I can see where there is an advantage to be licensed. However, if you're a buy and hold player then I'd say pass on the license.

I've built a nice buy and hold business by using targeted direct mail and or cold-contacting owners of off-market property.

Those with direct access to the MLS will get to the properties faster.

If I want to see a house, I go right then and there.

Having a license is very advantageous for an investor & I recommend it

If you have to call another person there will usually be some scheduling delays one is busy etc.

@James Wise is right. I just also noticed that before. And I was thinking maybe that person or that RE agent who immediately got the deal have connections or as what James said has a direct access to the MLS. Probably, some mls systems have the consumer side and the realtor side. In addition, many Realtors offer direct access to all MLS listing data via their own web site and will even send alerts when properties that meet your criteria come on the market.

@Marci Stein  I think  you need to rethink what you think is a problem.  You don't have to become a realtor to be a successful investor.  As @James Wise  pointed out, there are some advantages to having a realtor's license.  I am an investor with a realtor's license - that doesn't mean I had to become a realtor.  I invested for over 20 years without the license, but now that I'm a full time investor, the license is very helpful in my business.

There are a multitude of ways to obtain great deals on properties that are off market (not found on the MLS). Expand your thinking on ways of obtaining properties and you will see that the MLS is only one of many sources of properties. While the MLS is usually the most competitive places to find properties, many of the other methods are detailed in the BP podcasts and thoroughly discussed in the forums and blogs available to you right here on BP. Just keep listening, taking notes and reading and you'll find there is hope for, and in many cases better opportunities, finding properties that aren't on the MLS.

I never buy through MLS. I think there are too many people looking. I think you can spend your time better with other sources.

Joseph---where do you look? Do you only buy in Florida?

Originally posted by @Marci Stein :

I think i would have to switch from being a social worker to become a realtor in order 

to be a sucessful investor. Every time i search the MLS and find an interesting property,

it's already taken. I know R.e. agents get first pick, so how can the rest of us ever find 

profitable investments? Very discouraging.

If you plan on getting most of the deals primarily through the MLS -- you might get somewhat frustrated.

Free eBook from BiggerPockets!

Ultimate Beginner's Guide Book Cover

Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!

  • Actionable advice for getting started,
  • Discover the 10 Most Lucrative Real Estate Niches,
  • Learn how to get started with or without money,
  • Explore Real-Life Strategies for Building Wealth,
  • And a LOT more.

Lock We hate spam just as much as you

Join the Largest Real Estate Investing Community

Basic membership is free, forever.

By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.