Getting my RE license, but is it a waste?

6 Replies

Hello everyone, I hope you're all having a great day. So I'll quickly describe my situation. I have a job that I love. The pay is good, the benefits for my family are great and I generally like going to work in the morning (usually). This puts me in somewhat of a weird position. I've been wanting to wholesale since my work schedule is very random but very flexible and would work well for meeting with property owners. I think wholesaling would be a great way for me to enter the real estate scene; a subject I'd love to become involved and invested in. Ive read that having a real estate license can be an advantage in wholesaling, as it gives you access to the MLS with the ability to comp properties. I know it is not a must. I started my online RE license course for Washington State, until I realized half way through that for my license to be active, I have to get a job working for a brokerage. Until then, as I understand it, my license would be inactive and basically useless. So with my full time job, working for a brokerage just isn't in the cards for me. Should I continue to see this through and finish the course anyway to receive the license or was this a waste of time and money? Maybe there's no point to me finishing the course and I should just eat the cost? How do others aquire their license without being full time agents? Does everyone that wholesales with a license also hold full time agents positions at a brokerage? What are your thoughts? Thanks everyone. - Brock

Yes, you do need a brokerage to work for, but that doesn't mean that you will need to be a full time agent or quit your job by any means! And trust me, when you actually start doing deals, you will want somebody that can help you out. 

I would talk with as many local real estate companies in your area and just let them know your situation. Most brokerages are always wanting new agents so I don't think you'll have a hard time. Although some may not want part time brokers, but that is fine! 

I couldn't be happier with my brokerage I work for. The owner was extremely accommodating and helpful when I was getting started.  

My only advice would be to be to think about your commission split with the brokerage. A lot of your big names with the big offices will take a LOT out of your commission, and if you are only having your license to help with your investing, I would look for a place that gave you a higher split so that when you do complete a deal, you get most of the money. 

Good luck on your adventure! 

@Trevor Lybbert Thank you for the reply. The hang-up is in the contract with my current job saying that I won't seek secondary employment. Maybe I was naive in thinking I could just get the license solely for MLS access. My current contract for my job says nothing about self employment or starting my own business, though, and that's where I see the opportunity of wholesaling would work well for me. One last question; if I do get my license yet it's considered inactive because I don't belong to a broker, I would still be required to inform the public that I'm "licensed" while wholesaling, correct? I'm thinking now that I shouldn't get the license. I'd have to tell everyone I'm licensed but could never actually do anything with the license. Thanks so much.