Becoming an Agent for access to the MLS?

Question

Question for you BP Community,

If one goes out and gets their Real Estate license do they automatically get access to the MLS? It was my understanding that you had to be affiliated with a real estate firm. Similar to being sponsored by a company so you can have access. I always thought if anybody could get their license just to have access to the MLS then a lot more people would do it. So to prevent flooding the market with people who are only interested in the MLS and not selling houses you had to be affiliated with a firm. Is this correct? I would love to hear an agent's point of view.

Thanks,

Matt K. · Answer

Why, 99% of what you'd need is on redfin or simialr...

If you actually needed specific history on a property then why not have your agent run it...

Franklin Curry Jr · Answer

@Nathan G. you are right. I have been to a REI in my area. It was huge and a bit intimidating but I plan on going back now that I have an understanding how they work and a better focus on what I'm looking for. Thank for helping me in this thought process. I have a better plan on how to move forward.

Franklin Curry Jr · Answer

@Nathan G. exactly! This is my goal. Currently the house/property we are looking at the moment is being shown to us through a family friend that is our realtor. But in the future I plan on working with an investor friendly realtor. I'm trying to figure out good vetting questions to ask in order to ensure I line up a good realtor that wants to work with us and understand our needs. It will be a win win for both of us.

Nathan Gesner · Answer

Instead of becoming an agent and paying all the fees just to get access, just go to www.realtor.com where every listing is published and updated every 15 minutes. Even better: find a REALTOR that works with investors and/or understands investments and hire them to work for you. If you buy a property or two and are a solid client, they will hunt down the deals for you before they hit the market.

Franklin Curry Jr · Answer

@Russell Brazil I thought it was something along those lines. I'm not interested in becoming an agent at all. Nothing against agents. I know that they work hard on their business and trying to work to be an agent while being investor seem to me like too many irons in the fire. I commend real estate agents.

@Matt K. I agree. Most of the information you can find is online through some tool or search engine. I feel you could utilize your agent better to know all the specifics on a property you are interested in so you can free up yourself for other aspects of your investment business.

I think there is a lot of misunderstanding on getting a license just to have access to the MLS. Also you have to worry about the legal and ethical ramifications on trying to sell or buy a property as an agent when you are trying to invest. I know there are things you can and cannot do.

Thank you.

Russell Brazil · Answer

You have to affiliate with a brokerage, then sign up for MLS access. Many MLS systems also require you to join your local realtor board as well.

Costs a few grand a year to maintain your license, so if your goal is just MLS access...probably not worth the cost.

Becoming an Agent for access to the MLS?

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