Should I get a real estate license?

[Mike Boss]

I currently work as a self employed business owner and have made over $100k for the past two years. I found a niche that has worked so far, however I don’t think it’s something sustainable or will last forever. I have no idea what my income will be for 2024. It could be $20k or $50k or $100k. Separately from my business, I have invested in real estate deals out of state which provide me some income. 

Even though I would say I am doing well, im still not satisfied. I have a 5 year plan for myself and I need more income to accomplish my goals. Despite my work and projects out of state I still have a lot of time on my hands. I often feel frustrated because I want to be doing more with my time. I thought about getting a real estate license and selling real estate in Los Angeles county and Orange County. I have a relative who is a real estate broker and pretty successful. I’ve been told he’s not an easy person to work with but I tend to get along well with him. He’s also almost 80 years old which means eventually he will need more help and someone to take over his clients. 

I thought it would be a good idea to get my license and work with him in his niche. However, I don’t want to be dependent on him. I would want to know that I am capable of selling houses by my own skill too rather than simply assisting him with his already existing block of business. 

Does anybody want to comment on my situation and share some insight on what it’s like being a real estate agent in Los Angeles? Was also wondering if I should go straight to the broker exam or start with the normal agent exam first. Another concern I had was how a real estate agent is supposed to find clients on their own.