I'm new! Real Estate Agent liscense, yes or no?

I'm new! Real Estate Agent liscense, yes or no?

Architect · Chicago, IL · Member since 2014 · 1 post · 0 votes

Hi!

I'm new writing in the BP's forum and I have soooo many questions to ask, but I guess that I will be posting them in many other occasions. I will try not taking too much time from you!

My name is Albert and I'm an architecture student coming from Barcelona, Spain, and I'm currently working in an architecture office in Chicago. I've been studying in the USA for one year and it's been time enough to learn many things that I didn't know before. One of those is Real Estate! I took a subject called Introduction to Real Estate during the fall semester, and I enjoyed it so much that it changed completely what I wanted to do in the future. Since then, I couldn't stop reading books, articles and learning as much as I could.

But I feel like I need to learn more and feel more confident before acting or taking the first step. I've been thinking of going to a grad school but that's a lot of time and money that could be invested in a better way, or taking some courses that could bring me a broad perspective of this world.

So my first question is, should I take a course to get licensed as a Real Estate Agent? I don't want to work as an agent, I'm interested in investing, but I don't know if it would give me a lot of knowledge and some tools for valuations, finding opportunities, making deals, laws, taxes... Some people told me to do so (like in the first podcasts of BP), and some other told me not.

I want to take the right path to succeed, and as I still don't know a lot of people here, I want to learn as much as possible from any source I find. Any advice would be very appreciated!

Thank you for your time!

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  • Residential Real Estate Agent · Cookeville, TN · Member since 2013 · 1k+ posts · 948 votes
    12y

    @Albert Tisaire Ventura If you are going to be buying and/or selling more than 1 or 2 properties on the MLS, then I would say yes (I became a Realtor too).

  • Investor · Chicago, IL · Member since 2013 · 451 posts · 96 votes
    12y

    Welcome...What are your plans? Buy and hold, flip, wholesale...

  • Involved In Real Estate · Winston-Salem, NC · Member since 2013 · 277 posts · 188 votes
    12y

    Having a license significantly expands the number of tools available to help you in your business.  Earning a commission on the buy and saving a commission on the sell is also a big plus.  Having said that, with a license comes much responsibility.  You are held to a higher standard and 'knew or should have known' always applies when you've made a misstep.  Nevertheless, I'd say go for it.

  • Investor · Chicago, IL · Member since 2012 · 13 posts · 0 votes
    12y

    Albert,

    I would recommend getting a license. I'm currently enrolled in the broker licensing course and actually passed my test today. You learn everything from the different types of financing available to Illinois law to taxes to valuation. I'm sure you can learn all of that by looking it all up and being active on BP, but having to learn the material and pass a test really makes sure you understand it. Even if you plan on purchasing 1 $200,000 home, the commission will be worth the time and money you spend obtaining the license.

    Rob

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