Getting your real estate liscense

[Noah Wood]

I’m thinking about getting my license, mainly to scan the MLS for deals but I would also save on when I sell and buy my properties to flip. Would this be a smart move to make? Would it be worth the money and time to get the license?

[John Dirgo Deweese]

As a real estate broker, I have a favor to ask.  We see, all the time, people that get licenses just to use it for their own deals as a tool to cut a few costs and earn a little more.  I am not against people saving some money and earning more by any means, but treating the license like a coupon book can drag the whole industry down.  You're in Bigger Pockets, asking questions - so it seems like you are wanting to learn, expand and grow your knowledge and experience.  So, I would welcome you to the real estate agent community!  If you get your license, use it!  Take advantage of the opportunities to learn and grow.

The only caveat I would say is that you should be aware that, should something go haywire and you end up in court, the courts hold those of us with licenses to a higher standard (as they should).  If you're one of those licensees that just saw the license as a way to squeeze out slightly more profit, it will hurt you.  If you are one of the good ones that used the license as an opportunity to learn and grow, you'll be fine.  In fact, you probably will have avoided court in the first place.

The license can work both ways for you.  You're considered more of a 'professional' in the eyes of the IRS (more deductible expenses, etc) but also in the eyes of the courts (legal liability).