Beginner Investor - Should I get my Real Estate License?

Question

I am a New Yorker and considering going after a Real Estate License for a few reasons; to better my understanding of Real Estate and to save money on my own investments while also being able to make money from deals as an agent.

Is it a waste of time and money? Is it worth it? Is it a no brainer to become an agent if I want to be more engulfed in real estate? Can I do this part-time?

ANY ADVICE WILL HELP

Patricia Steiner · Answer

This question has been raised numerous times on this site.  The fees are pretty substantial to become and then remain an active realtor - and most firms will not allow you to do business "for your own account" without Broker oversight (which negatively impacts commissions and comes with a big dose of micro-managing).  It's not going to get you what you want as an investor...and - as stated previously - part-time realtors have limited to no success.  This isn't a business for people who aren't all in.  And, just to clarify:  a real estate license/course/exam prepares you for nothing.  The learning comes from doing and self-learning after-the-fact.  Successful investors don't have time to deal with realtor issues, continuing ed,etc.  Successful realtors are up at 2:10 a.m. trying to keep their heads above water.  And, many investors have no interest in doing business with realtors who are also active investors due to a perceived/potential conflict of interest.  My recommendation is to choose a lane and leave skid marks...

Daniel Gutierrez · Answer

I would have tot agree Patricia. In general, a real estate licence is a waste of time unless you want to do deals for other people. One thing that people don't often think about is all the potential lost deal that never come to you from other agents or brokers because you have your licence and could potentially take some of their commission. I have my licence due to the work my company does but I make it very well known to agents and brokers that if they bring me a deal I'll use them as my buying agent (dual agency) and let them keep both sides of the deal. That's not legal in every state so check your states laws but you'd be surprised how  many deals you start getting by giving agent both sides of the commission. Lastly, you can learn more about actual real estate investing on this site than you'll ever lean in a real estate licencing course. Put your time into what's going to get you where you want to go.

Sean Lambert · Answer

Being an agent will help you gain connections and potentially finding deals before they are on the market.

With that said, in my experience, part time brokers are less than half successful as full time brokers.  More opportunities rise when you're a full time broker.

Beginner Investor - Should I get my Real Estate License?

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