Getting RE license at what point

5 Replies

LookIng for opinions

Have had my license in NY, FL and NC 

All expired many years ago

Only from the point of view of purchasing property and getting a share of the selling agent commission 

Selling I have no problem doing that with no agent so it would only be saving us money on purchases

Figure 7% average commission split between listing and selling agent.  

Also give a set amount or percentage to broker you keep your license with.   At what dollar amount of purchases per year would it be worth it to get for you to get a license?

As a real estate investor, I would recommend renewing your license now, I have been an investor for 12 years and have had my license for 10 of them...it benefits you not just in dollars and cents, but being able to pull your own comps quickly, seeing whats on the market  for yourself, maybe something comes along that is a property you would consider buying? I couldn't operate my business as efficiently as I do without it...also, as an agent, if you get a lead of a property that is in pretty good selling condition and not a cash deal, you can refer it to a fellow agent for 25-30% referral fee, I do it all the time...Recycle those leads!

Originally posted by @Joe Abbascia :

As a real estate investor, I would recommend renewing your license now, I have been an investor for 12 years and have had my license for 10 of them...it benefits you not just in dollars and cents, but being able to pull your own comps quickly, seeing whats on the market  for yourself, maybe something comes along that is a property you would consider buying? I couldn't operate my business as efficiently as I do without it...also, as an agent, if you get a lead of a property that is in pretty good selling condition and not a cash deal, you can refer it to a fellow agent for 25-30% referral fee, I do it all the time...Recycle those leads!

 Thank you very much for the encouragement 

I’m think I will look into it.  

Unfortunately it was so long ago I will need to go in as a newbie with a full course. 

Last test I sat for was with pencil and paper.  I would imagine by now you can take the course online and test on a computer 

Thank you again 

Your welcome...Once you look into it, you may find its not as hard as you thought? as most states honor a license once its obtained, so all you may have to do is pay the fees to reinstate it...i would start by going to your states license site online and see if your license comes up inactive...Good luck!

Originally posted by @Joe Abbascia :

Your welcome...Once you look into it, you may find its not as hard as you thought? as most states honor a license once its obtained, so all you may have to do is pay the fees to reinstate it...i would start by going to your states license site online and see if your license comes up inactive...Good luck!

 Thank you for the suggestion 

I just went and checked

Says null/void

Searched a little more and you have to renew within 2 years 

I would say it depends on what you do, if you're flipping or buy and holding few houses it might be worth it. On the other hand if you're flipping many houses, your time will be better spent working on other things and paying an agent to do this part of the work. But it would be nice to have if you have extra time etc... 

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