should I get my real estate license

Question

I'm a student at Mizzou in Columbia, Missouri, completing my last year in the Architecture and interior design program. I'm currently employed at Central States Construction doing interior design, and architecture as well as renovation spatial design. Over the course of my last few years in school, flipping is something I greatly considered so I began educating myself and listening and reading what I could about real estate. Currently I'm looking to make that first next step in my real estate career somewhere in my area either at school in Columbia or in my home town of Washington, Missouri.

I plan to make my first deal within the year but have been considering getting my real estate license while i'm in my last year of school. I've heard some of the pros but I've also heard its not worth my time. I'm sure it wouldn't hurt to get( other than my budget of a college student) and i think it would familiarize me with the way real estate works to better prepare me for the way my future deals play out.

Andy Sabisch · Answer

A real estate license is a plus when listing your flip as it saves you the commission.  You can also find deals as soon as they come up and have access to the MLS to run comps.  With that said, no all brokers / companies are the same so you should see what they charge you to get in the office and what they expect from you.  If you are selling homes, remember most traffic is on weekends so that might make a difference in the decision.  There are also certain things that you have to stay within being a realtor that an investor woudl not so another factor to consider.  There are pluses but as you have already noted there are costs and you need to determine of they are worth the hassle.

Mike Schorah · Answer

What are you focused on? Are you good at sales or have you ever tried it

Not saying that getting a RE license is a bad idea, but it depends. I'd weigh my options. If you are good with people and can handle rejection (examples would be in dating, with job interviews), then I'd say to go for it. But that would be your focus first. In my area, it's over $1k just to get the RE license plus the time of doing a 100 hour course.

If your focus is on flipping or rentals, then I would get the RE license later if at all. It could help you save on commissions and help you get into any property on the MLS without an agent.

So, it comes down to focus and the time/money cost.

Jeffrey Donis · Answer

I agree with @Andy Sabisch. Also, if you plan on doing your own marketing (like cold calling sellers), then you'll have to disclose you are a licensed realtor. This might make it a bit more complicated, but also, having your license can give you more options to help a seller. You can give them a below market cash offer, or list it for them on the MLS.

Hope that helps.

should I get my real estate license

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