Getting a Real Estate License

[Gregory P.]

MAIN POINTS:
Benefits of being a RE Investor and having a license? Would it be better to get a license before directly getting into investing?

Can you really get a legitimate license from online classes compared to classroom courses?

If you get a license in one state, can you only deal with RE in THAT state? Can you have licenses in many states?
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I've still been doing research and learning about what it is I really want to get into concerning RE, and I've recently stumbled upon the idea of getting a RE license. I was wondering, wouldn't you WANT to get your license in order to learn more and make finding deals easier without a middle man? So, naturally, I looked into the process of getting a license, which doesn't seem too bad. But whats the difference between online classes and classroom courses? And if you get a license in one state, are you only allowed to deal with RE in THAT state? Can you have licenses in a whole bunch of states?

I wasn't sure which category thread to put this in so I apologize if this post should be somewhere else!

[James Vermillion]

Gregory,

There are a lot of different opinions on the matter and there have been a lot of discussion on this topic in the past. Let me give you some of my thoughts (I have my license but it is inactive):

- One major benefit to having a license is commission savings you can see during the course of one year. If you plan on buying/selling several properties per year, you can easily get your money back and then some by utilizing a license. Additionally, you will gain access to the MLS (for a fee of course) which will help you keep a pulse on the market, list properties, etc.

- I took classes online while I was deployed with the Air Force and could not have been more happy with the results, although this is all going to depend on the school and the state, I am sure they are not all created equally in that regard. What you need to learn to earn a license is not overly difficult and can be achieved online (although I am sure there are some advantages to taking live classes such as interaction with others)

- One thing to keep in mind is getting the license does not make you much if any better of an investor in my opinion. Selling real estate and investing in real estate are very different, but it can give you some additional tools and save you money.

- When you get a license in a state you are only licensed to do business in that state. However, many states have agreements which will allow you to skip the coursework to get licensed in the second state (usually neighboring states). As far as I know, you can get licensed in as many states as you want, although there will be large costs involved so I would not recommend this at all.

I hope that at least gives you one perspective and a few answers to your questions.