Pros and Cons of acquiring either a Brokers and/or Real Estate license?

4 Replies

I have read "many" different takes of this subject. But I would like to hear from those who have been investing for a while, and know your opinion from a time/cost vs benefits. As well as needing to disclose to buyers/sellers that you are a licensed agent. 

I understand the take of having access to MLS listing, but I have a Broker friend who provides that already.

Thank you for sharing your take.

Tommy

I have a real estate license so I can do everything myself without being dependent on another person.  It's a lot more convenient to not be dependent on another person.

I do not believe there is any negative about placing an offer and disclosing your license status.  Its so common now that nobody cares about it.

I have been wondering the same thing. Other than access to the MLS what benefit does it provide if I do not plan on actualy being an agent? I have heard another benefit is writing your own deals but your agent can do that and generally the seller pays commission and not thebuyer so it doesn't cost anything to have them represent you. Maybe I'm showing my "greenness" in the industry. I'd love to hear some opinions from seasoned vets.

@Tommy Lancaster I think this horse has been beaten to death! Since there have been no responses I took it upon myself to do a little research and I found quite a few advantages to having your license. Writing your own deals I mentioned before but also you have the advantage of negotiating directly with the seller/agent without having to go through your agent. This allows more information to come your way without being filtered. Also, having access to the MLS doesn't just let you see potential properties it allows you to do your own comps for the area so you can evaluate deals more efficiently and quickly. I don't know if you listen to the biggerpockets podcast but show 23 or 24 had some good insight on getting your license. My only question to the professionals out there is how do I keep my license active if I am not going to be working with an agency and only investing for myself part time?

Thanks @Billy Mehlinger for the reply and the podcast show numbers. 

How much of the following statements is true if my main business is only in investing, (buying, selling, or holding property)?

I would always be an involved principal in the transactions.

(Either buyer, seller, lessor or lessee, optionor or opitionee )

You only need a license when you are selling a property for a commission and do not have an equitable interest in the property.

At the closing table, you want to be on the side where the buyers and

sellers sit; not on the side where the people doing the closing are.

Thanks again 

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