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Updated about 2 years ago on . Most recent reply

Real Estate license if not planning on being a realtor?
This summer I would have ample time to work on getting my real estate license and have been considering doing so. I plan to use the license to save on realtor fees and get access to the MLS for house hacking that I will be starting in my sophomore year of college, (still a high school senior). I've heard some people on the forums say that getting your license is a waste of time if your not going to become a realtor and that working instead of getting my license may be a better use of my time to raise capital. I'd appreciate any advice.
Most Popular Reply

Michael,
Don't pursue a real-estate license. Getting a license is easy and inexpensive enough; I think I spent $700 total for the books and the exams.
BUT! Once you pass the exam, then you have to pay annual fees to the National Association of Realtors, the Oregon Association of Realtors, and a local Realtors group to maintain your MLS access. For me in LA, it's about $1200/year that goes to NAR, CAR, and GLAAR ("C" for California and "GLA" for Greater Los Angeles).
So really, you're looking at a several-thousand-dollar investment.
Plus, as a buyer, you don't directly pay any Realtor fees. The seller pays both agents' fee out of the property's purchases price.
I commend you on being so knowledgeable and invested at such a young age! But spend your summer working and reading investing books. If you can, find an investor in Salem (which you can do right here) and shadow him all summer. You'll learn the stuff you need to know doing that, not studying for the RE exam.
Good luck!
Jon