I am interested in receiving feedback and opinions on getting my real estate license as an investor. To explain, I am in the process of completing my 75-hour course.
I have been informed of the numerous benefits an investor receives when getting their license, such as:
- Access to the MLS
- Networking
- Self-Representation when making real estate purchases
Also, I understand that I will have to be under a broker when making transactions (even if they are personal).
My primary question is then - are their investors that have their license solely for investments purchases? If so, for those individuals, do you believe it is worth it and why?
Lastly, is it difficult to manage the responsibilities of having your license and your normal job?
Real Estate Agent · Portland, OR · Member since 2016 · 1k+ posts · 605 votes
5y
Hi @Gabriel Garcia, congrats on going through the licensing, it is not fun at all. In my opinion, you need to do at least 2-3 transactions per year to make it worth having your license because of all the costs and dues associated with it. I spend about $3,000 per year just to keep my license current and have to do about 20 hours of continuing education per year. Your state might be different though.
I don't think just having MLS access is worth getting your license. You can have an agent set you up on the search criteria you need and have them send you listings as soon as they hit the market. A lot of the search platforms have most of the information the MLS provides as well.
Real Estate Broker · Huntsville, AL · Member since 2019 · 1k+ posts · 872 votes
5y
You'll get to learn a lot and make offers whenever you want but overall I'd say it's not worth it unless you want to be an agent. However it's a good way to make some side money.
Hi @Gabriel Garcia, congrats on going through the licensing, it is not fun at all. In my opinion, you need to do at least 2-3 transactions per year to make it worth having your license because of all the costs and dues associated with it. I spend about $3,000 per year just to keep my license current and have to do about 20 hours of continuing education per year. Your state might be different though.
I don't think just having MLS access is worth getting your license. You can have an agent set you up on the search criteria you need and have them send you listings as soon as they hit the market. A lot of the search platforms have most of the information the MLS provides as well.
Hey Brad,
While I did factor in the yearly expense for a license, I did expect it to be that much. I will have to do more research to find out the total expense in Georgia and the additional education requirement.
Thank you for the reply. You have given me a lot to think about!