Holding multiple real estate licenses in different states?

Question

Hello everyone!

I am currently working on getting my California Real Estate Agent License but ultimately, I want to be a full time investor.

My question is, if I ever wanted to invest in properties in different states, do I need to hold a real estate license for that particular state? Ex. Nevada, Texas, Florida etc. Or can I only conduct business in California? I am aware that the state of California does not have reciprocity with any other state.

Thank you for your time everyone!

Paul Cabrera · Answer

Thank you everyone! Always great to hear advice from experienced people!

Huiping S. · Answer

Agree with @Jim Cummings. Just paid FL's agent fee, that is LOTs , except the fee needs to pay broker. Need to pay attention for this deadline, that deadline.... That time is more valuable to invest on investment or other things.

Jim Cummings · Answer

@Paul Cabrera. As @Casey Powers says probably not worth the costs, time, and effort to get licensed in a state for just a few deals.

As a Licensed RE Agent, you could probably collect a referral fee from a cooperating agent on the deals. Or if you felt comfortable dealing directly with the Listing Agent, you might get a commission reduction as you would be a principal in the deal.

Mark Creason · Answer

California does not reciprocate, but most states will allow application of education from California and California will accept out of state education.  I have multiple licenses as I tend to be a license hoarder.  I think California is one of the easier ones to get.  Their online system is also easy to use.  I have a Texas license and find them to be difficult to deal with.  They tend to have a narrow view of what real estate is, compared to other states.

Mark

Casey Powers · Answer

You do not need a real estate license to be an investor and unless you’re doing multiple deals per year in each state where you have a license, it wouldn’t be worth the cost of maintaining those licenses just for the purposes of buying and selling.

Paul Cabrera · Answer

Thank you for the info Russell.

Russell Brazil · Answer

You can buy or sell your own properties in any state, but in order to act as an agent or receive a commission you need to be licensed in that particular state.