Real estate licensing in Maryland for investments
I'm curious to hear from anyone who has done this or has any insight.
I am interested in obtaining a license as a real estate salesperson in the state of Maryland. This would be used to facilitate any investments that I may be interested in and allow me better access to the marketplace. I am currently working with an agent on finding a place, but I do not think he would be interested in working to find some of the investments I am looking for(sub 50k).
In the state of Maryland, licensing requires 60 hours of classroom time as well as the passing of a licensure exam. However, there is another stipulation I've read as follows,
"All applicants need to submit with their application a written commitment from a licensed real estate broker stating that the salesperson applicant will be affiliated with the broker after becoming licensed."
So, the question is, how do I get that written commitment. Why would a real estate broker ever want to "sponsor" me if I am primarily in business for myself. Is this a case of needing to know someone, or is this something you can pay a few dollars for? I would assume a broker in sponsoring a sales person for licensing assumes some risk, is this true? Is it also true that you must work "under a broker", assuming that is true how can I make that arrangement work for me?
Lots of questions! Thanks in advance.
-Brian
Most Popular Reply
There are many agencies that are happy to have investor agents work for them. My understanding is that Keller Williams actually encourages their agents to invest in real estate. One local broker that has a lot of investor agents is Douglas Realty. Many members here like @Tyrus Shivers and @Nancy Roth as well as my business partner are associated there.
Also check out Denise Uhrin who is a broker and an investor herself but I do not believe she is on BP.