colorado Investors with real estate licence

Buying & Selling Real Estate
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colorado Investors with real estate licence

Brian P.
Real Estate Investor · Denver, CO · Member since 2011 · 3 posts · 0 votes

Was wondering if there are any investors using a real estate brokers licence to search for and buy there own properties in Colorado? I am currently buying a couple properties a year, however I am not trying to make a living as a real estate agent only interested in MLS access and buying for myself and my wife. A little research has proved this may be more tricky than it seems. Can I simply take online classes, past test, get associates broker licence, buy property? Or will I need to work for or pay a broker? Any first hand knowledge would be great.
Thanks BP

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  • Anson YoungBusiness Member
    Flipper/Rehabber · Denver, CO · Member since 2009 · 1k+ posts · 726 votes
    15y

    I do exactly this.

    You would have to hang your license with a broker, the amount you pay them varies from broker to broker.

    It would be: take classes, pass CO and national tests, pay to activate your license, join brokerage, pay to join MLS, then buy property.

    Easier route: ask agent you know and who likes you for unlicensed assistant MLS access, if all you want is MLS access.

    Let me know if you have any questions. Also, what you are looking for since I get a ton across my desk weekly from my deals and other wholesalers.

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  • Justin S.
    Residential Real Estate Agent · Chandler, AZ · Member since 2009 · 1k+ posts · 928 votes
    15y

    Brian

    I did the same thing here, the extra bonus is the 3% commission you get on the buy side from REO's. If you are self sufficient, then hanging your license with a big firm who takes big chunks of your commission is not necessary. A lot of guys pay only a few hundred per transaction to cover E&O insurance and then a monthly fee.

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  • Grant Shafer
    Thornton, CO · Member since 2013 · 4 posts · 0 votes
    13y

    I'm in the Denver area, and considering taking the real estate broker class for general education on the industry. $400 for 168 hours worth of education seems like a pretty good deal. I'm considering some of the other benefits of actually taking the exam and getting my license, and have a few questions:

    1. What is "the" official Colorado MLS? Which website? How much does access cost?

    2. Can I just be my own independent broker (without hiring agents) to buy / sell properties, without having to "hang my license" somewhere and be part of a brokerage?

    3. In Colorado, are there education requirements / classes / exams to be an agent as opposed to a broker?

    Thanks for any info.

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  • Mark Ferguson
    Flipper/Rehabber · Greeley, CO · Member since 2013 · 2k+ posts · 1k+ votes
    13y

    You would think I would have more info, but here's what I do know.

    1. there is no offical MLS, Metrolist covers Denver and surrounding areas and IRESIS covers northern Colorado. THey both overlap and include each others listings. I think IRESIS is $395 a year, not sure on metrolist.
    2. You can be your own independent broker and not hire any agents. I am not possitve if you have to hang your license with someone else first, but I don't think so.
    3. 24 CE hours are required every three years to have an active license for broker or broker associate(agent)

    It's not too difficult to be an independent broker, it is much tougher to be an employing broker.

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