Hi BP! I am a new investor and got my MA real estate license as a way to learn more about the industry. I originally thought I would pursue being a Boston area real estate agent full-time, but have decided it is not for me. However, I would like to keep my license active and figure out a way to still have access to MLS. It is my understanding that I need to work under a broker in order to do this and I am wondering if it is even worth it. Does anyone know of agents who have figured out a way to get MLS access through a broker if they are only using it for their own investment work? I have heard about other investors having their license and access, but I do not understand how they are accomplishing this. Any help would be greatly appreciated. Thank you in advance!
@Ann Keller Hoh For a little while, before I got my license, I had access through a broker I was working for at the time. If I remember correctly, he just set me up as an "admin" of sorts. However, I'm assuming you would need to know a broker personally that might be willing to do the same.
Hope this helps.
I’m doing this now. We have just gone into contract with our first property. I have another profession and I’m taking the course primarily for working my own investments. Following for responses. I’m sure there are smaller brokers and firms that allow affiliate brokers to do this.
Hi Ann. There should be plenty of local broker/offices for you to choose from that would be willing to take you on. Just be honest and tell them you are doing this part-time and using your license for helping family, friends and for your own personal investments. Most offices have several part-time agents on their books who may only do 1 or 2 deals per year or none.
Holding onto your license will pay off when you buy property for yourself and can use your license to earn the commission.
@Ann Keller Hoh
Look for a brokerage and let them know you are part time. Explain your situation and you should be able to find one that suits your goals
@Ann Keller Hoh, can I approach this a different way? Sounds like a silly question but what are you looking to get out of MLS? If you have a target market/product you're looking for, you might get more out of your time doing the dirty work to find those properties outside of MLS. Obviously, that's from an investor perspective.
If you're looking for MLS on the agent side, well, then I think everyone else's advice works.
Thank you all! I appreciate the advice.
@Eric S. I like using it for the comparative analysis on properties that have recently sold to evaluate ARV and for evaluating market trends in specific areas. It is a fair question though and you make a good point.
You don't need to be full time to hold your license with a Broker. I got my license a few years ago because I started flipping houses and only intended to use my license to find properties then re-sell them and keep the commission. It doesn't matter if you do zero deals or 100 a year, you can still hold you license any where. You'll need to hold it somewhere though, I don't think you can get away with having a license and not having a designated Broker. You would then just be a facilitator and I don't think you can still have access to the MLS that way..
I've been doing this investing thing as an agent for awhile now so feel free to message me if you have any questions!
I agree with @Nick Foundas .. there are a ton of brokerages throughout the area where you can hang your license without being charged a desk or other fees. They tend to be smaller and often attract like minded part-time agents interested in investing as well. So it will end up being a good network for you to enter into beyond just the MLS access. Just be open about what you are looking for with the broker - keeping your license will definitely be worth it!
Likewise, that's the path I'm taking right now: get real estate license in order to learn as much as possible, and get my foot in through the door at real estate brokerages.