Just got my RE license - am I required to join an MLS?

Question

Hi guys! I am new to real estate. I have a full time job and want to break into real estate but I want to try it on the side before I take the leap out of the corporate world. I passed the test and found a sponsoring broker (a friend). The great news is that she is not taking any commission for me...The challenging part is that she is in Long Island, NY while I live in Brooklyn and would be practicing in Brooklyn/NYC. She wants me to join the LI MLS however I am cautious about this as it is very expensive and would not help me with searches in Brooklyn or NYC - I find streeteasy to be much more effective in this market. She says in order to show buyers properties that I have to be a member of the MLS...is this true? Any feedback would be very much appreciated. Thanks so much! Jaime

Damon Bodine · Answer

Hi @Jaime RichichiIf you're practicing in NYC/Brooklyn I would highly advise you to join a REBNY brokerage as opposed to MLSLI . You will have a very challenging time in these areas if you're not affiliated with a REBNY brokerage. Many agents will not co-broke with you and it can be a serious uphill climb. Unlike many areas of the country NYC is not dominated by MLS. For more information on REBNY i would advise looking here for affiliated brokerages. https://www.rebny.com/content/rebny/en/directory/m...However if you're doing business in Long Island/Queens it may make sense to join one of the MLS system. Really depends on where you want to focus your business. Hope this helps.

Jaime Richichi · Answer

Thanks everyone for the advice!Has anyone ever heard of Mont Sky Real Estate? They are an online brokerage. I was thinking since I'm only doing this part time to start that it might be a better way to go. Any thoughts / advice?

Victorina Evelyn Castillo · Answer

I just got my NYS sales license and started to work for a broker in Brooklyn. As a licensed sales agent, should i pay for my own membership in Brooklyn MLS? Is it a must that I be a member of REBNY. The broker i work with has access to Brooklyn MLS and is a member of REBNY. I don't have membership to both, but uses the access of the broker. Is this right?thank you Victorina Evelyn

Bill S. · Answer

@Jaime Richichi what do you want from your brokerage? I would suggest that you figure that out and then that will answer where to hang you license. I'm not sure why you got a license. Here the main reason is access to data. Sounds like you already have that. I would say this, unless you are really hustling you won't broker a deal for anyone else. The passive approach doesn't do deals. If you are trying to save yourself the cost of commission for a buy or sell end, you need to do the math and make sure you are actually saving yourself money. Hanging a license is not free and if you only use it every now and then, perhaps it would be better to make it inactive (if NY has such a status).

Norberto Villanueva · Answer

A licensee/Colorado REALTOR, I am not sure what the rules are in New York, but it's kind of like working for a union shop - you join or else. Not that I'm relating the two but, owned and operated by a local association of REALTORS, membership to that board will be required IF you work at a brokerage that is a member of that board, with MLS privileges as a benefit of said membership. However, belonging to an association of REALTORS is NOT a requirement of licensing. And where board membership definitely has its privileges, there are brokerages who offer a non-REALTOR option, where you can just hang your license without joining the local board, which can be very expensive. If allowed and you find such a shop, an alternative to the MLS is a service like Point2Agent which, though usually not as comprehensive in terms of local data, offers a far superior service in terms of value added benefits with national exposure and at tremendous savings. Hope this helps.All the best!

Mindy Jensen · Answer

If you are working as an agent, you will need MLS access. If you are licensed solely for yourself, MLS access is one of the best perks. I'm not that familiar with NYC, but it seems like you could be a member of the MLS that services Brooklyn. Do they have an agreement with the LI MLS to share information? My northern CO MLS shares information with Denver and Colorado Springs. If you aren't working in Long Island, having LI MLS access isn't going to be much help. You want MLS access for the areas you want to work in.

Tim Debronsky · Answer

Jaime Richichi I agree, you absolutely need to pay and use the MLS as a licensed agent. There is a ton of information that will be very useful for you.

Wayne Brooks · Answer

You have to have MLS access in the area you want to work. If your broker doesn't belong to the MLS where you want to work, you need to find a different broker.

Russell Brazil · Answer

You can not actually practice real estate without having access to the MLS. You can have your license and not practice...but to actually do it you will need to join the MLS. There is information in there required to do the job, such as showing instructions for the properties.