Where to get my RE License

Question

Hello BP Community!

I am new to BP and have started listening to the podcasts from day 1! I would like to get my real estate license to educate myself on the process and to have access to the MLS. I have recently moved to TX because of my job, but I know I will only be here for 1 year. I will then be moving to Oklahoma, right next door. I would like to get my license soon, but don't know which state to register in. To summarize, I currently live in Texas, and could see myself buying property here in the near future, but I will be moving to Oklahoma in about one year. What should I do? Any advice would be very much appreciated.

Respectfully,

Jaren Woeppel

Ron Harris · Answer

Hi Jaren,

If you'll send my wife an email to info@spearheadrealty.com she should be able to answer your question about Oklahoma. She's helped others get their license when they were out of state and shorted the curve so she might be able to help you know the plan.

When you get back to OKC, you might consider Spearhead Realty to place your license since we are investor friendly and have a different model then most brokerages (ie transaction vs commission splits). Plus, we encourage you get your own investment property vs. the MLM style recruit a realtor "profit sharing" model.

Also, when back in OKC, I recommend you join the local Real Estate Investors Associations (REIA) to be around like-minded individuals. Till then, plug in the Texas REIA's. I've heard great things about most of them.

What I have seen over the years, since 2006, is that we can tell the success level of new investors by how often they show up.

For real estate investors in Oklahoma City, we have:

1st Thursday of every month www.mpreia.com

2nd Thursday of every month www.okcreia.com

For entrepreneurship & business in Oklahoma City, we have:

2nd Wednesday of every month "Coffee with Entrepreneurs" www.okceg.com

4th Thursday of every month www.OKCEntrepreneurGroup.com

I am a local real estate mentor and business coach so if you ever need guidance and accountability I might be a resource to you.

Enjoy the day,

Ron Harris

The Renascent Entrepreneur

Theresa Nicoletto · Answer

Having a license just makes everything easier...

You can get a real estate broker's license in a state that doesn't have a residency requirement like California...

http://www.dre.ca.gov/Examinees/OutOfState.html

You can then take the State only exam portion of the Broker's exam and be licensed in two states. If you do 20 transactions in OK, you can use that to qualify for your TX Broker's license... and on and on... just depends on what you want to do...and where you want to invest/practice.

That being said, @Ron Harris's wife Angelena @ Spearhead Realty does have a great investor friendly brokerage in OKC that leverages technology. You definitely want to have someone seasoned to take you under their wing and show you how things are done at a practical level.

Also, if you haven't already, read the free BP e-book that Brandon put together for Real Estate Agents. It's spot on and everyone considering working with investors should read it.

Good luck and let's hook up when you get to OKC.

Brie Schmidt · Answer

@Jaren Woeppel

With real estate licenses we have something called reciprocity. which means if you are licensed in one state, other states have approved their education requirements so all you need to do is pass a test and not take more classes.

Texas does not have this agreement with any other state and Oklahoma does not have it with Texas, so you would need to complete the educations and pass the exams in both state to have a license in each

Ron Harris · Answer

We are applying the e-Myth approach to building it, being investor friendly (we are one) and instead of the gimic of "profit-sharing" network marketing format that only rewards the top but instead we encourage agents to get their own investments (they control their own future and not by someone else).

Other than that, have fun on the way!!!

Ron

Having a license just makes everything easier...

You can get a real estate broker's license in a state that doesn't have a residency requirement like California...

http://www.dre.ca.gov/Examinees/OutOfState.html

You can then take the State only exam portion of the Broker's exam and be licensed in two states. If you do 20 transactions in OK, you can use that to qualify for your TX Broker's license... and on and on... just depends on what you want to do...and where you want to invest/practice.

That being said, @Ron Harris's wife Angelena @ Spearhead Realty does have a great investor friendly brokerage in OKC that leverages technology. You definitely want to have someone seasoned to take you under their wing and show you how things are done at a practical level.

Also, if you haven't already, read the free BP e-book that Brandon put together for Real Estate Agents. It's spot on and everyone considering working with investors should read it.

Good luck and let's hook up when you get to OKC.

Jaren Woeppel · Answer

Ron, Thanks for the advice. I will be contacting your wife in the near future to get the ball rolling.

Theresa, I will look into your suggestion, thank you for your input. I look forward to meeting you when we move to OKC.

Rhett Tullis · Answer

you also have some extra hoops to jump through if you do an oklahoma license now and do not have a residence in oklahoma.

Jaren Woeppel · Answer

Thank you for the advice, Brie. My main goal is to acquire buy and hold property, single family and smaller multiplex, do you think it would be a worthwhile investment for me to get  my my license?

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