Fees Associated with Real Estate License

[Lisa Henrich]

Hi Everyone,

I'm debating whether or not to get my real estate license to invest in additional properties. Can anyone tell me how much money I should expect to outlay each year to have my license with a broker/firm for this convenience. I want to make sure it's worth the effort and cost. Also, any additional advice would be appreciated.

Thanks!
Lisa

[Jeff Valentino]

Hi @Lisa Henrichthis is my opinion but I would say no-for the same reason a carpenter probably shouldn't pound nails on their own rehab. Also, given that buy and hold would represent fewer transactions I think it's best to have a good agent as part of your team. A good agent will allow you to focus on your strengths more while they handle property search, negotiations etc. 

A case could be made that if you purchase a property per year the commission you earn would cover the fees. I would say that the "work" of representing yourself outweighs that especially since you'd mostly be buying which doesn't cost you money. 

Lastly my purchasing experience has shown me it's slightly more difficult to negotiate as an agent on your own purchases. I would offer my commission on a personal purchase. 

Hope that helps,

Jeff