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Updated almost 6 years ago on . Most recent reply

User Stats

81
Posts
21
Votes
Greg Schuricht
  • Accountant
  • Minneapolis, MN
21
Votes |
81
Posts

New investor - should I become an agent?

Greg Schuricht
  • Accountant
  • Minneapolis, MN
Posted

I'm sure this has been asked a million times here, but everyone's story is different, so here's mine.  

I'm currently unemployed and a stay-at-home dad. I've taken to real estate during this time and want to make it my second career. I'm mostly interested in the investing side and want to buy rental properties. I keep getting pulled in the direction of getting an agents license to learn the biz and get MLS access. But I really am not interested in the traditional agent role of helping others buy and sell houses. I just want to learn the business to help me be a better investor. I'm vaguely familiar with the costs associated with maintaining a license, and don't think it would be a problem. I wouldn't rule out the possibility of representing others, but currently I don't have the time to dedicate to a client. Currently every minute I can dedicate to learning about RE is reserved for investing, and the thought of switching gears to getting a license feels like a waste of time until I can mentally commit to the idea.

That said, would it be worth it to get my license?  What's a good brokerage to work with for someone in my position?  I don't care about commission splits, just want the best access to training.

Most Popular Reply

User Stats

232
Posts
150
Votes
Ruth Lyons
  • Investor
  • Colorado Springs
150
Votes |
232
Posts
Ruth Lyons
  • Investor
  • Colorado Springs
Replied

I was an investor for 3 years before getting my license. I was buying rental properties and didn't need my license during that process. Work with an agent to get listings (seller pays the commissions and you get buyer representation) and get on wholesaler lists to find off-market deals when you start out. It was only after I had my rental portfolio set up and realized I loved real estate that I decided to get my license. I agree with the comments above. You can learn what you need to know through self-study--the state course is no help as it's basic and legal stuff.

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