Licence Questions

[James Williams]

Hello Fellow investors,

So, after many thoughts and podcast, I made the decision to get my license but found myself lost again.  I would like to thank everyone who is a part of this community for making this learning experience a lot less confusing than it can be with your knowledge on real estate.

I haven't made any moves yet because I like to be well informed before making big decisions.  I plan to be a force in the investor world and want to maximize every ounce and second I have, but, I have a few questions.

1. Are there different types of licenses or one size fits all with different names (broker, agent, realtor, etc.)?  

2. Is there a way to read books and test out or is a course mandatory?

3. Do I have to hang my license with a broker to do what I want to do (submit my own offers and have access to the MLS)? Anything else is gravy to me.

4. After I do what I have to do and get my license, is there a waiting period before I can start submitting offers and get MLS access?

5. Did you find it better to take an online course or a classroom setting?

6. Do I have to renew annually, take a lot of continuing education, spend more time trying to keep my license than investing? 

7, Is there anything that I should be asking that I don't know to?

I still have plenty of reading and podcast to cover but am looking to use my time as effectively as possible and somehow think that taking the license route will help build a better foundation to build on.  I know some of this may be common knowledge, but I just started studying a few months ago.    

Thank you again to everyone who contributes to this community, its a beautiful thing!

James

[Jonathan Wilks]

@james 

you are very welcome, and than you for being a part of the community. In regards to your questions. 

1. Are there different types of licenses or one size fits all with different names (broker, agent, realtor, etc.)? 

Realtor is a classification given as being a member of national association of realtors.  Agent is normally a sales person, and a broker is an additional amount of schooling that is more management or experienced. In california a broker must have 2 years experiences as a agent and must take additional classes, they also have more responsibility in regards to their understanding. 

2. Is there a way to read books and test out or is a course mandatory? 

The courses in some cases can be home study in reference to books, In California you have a certain amount of days before you can test for each course. 

3. Do I have to hang my license with a broker to do what I want to do (submit my own offers and have access to the MLS)? Anything else is gravy to me. In California you must hang your license with a broker, and MLS access you join a board here and pay for access.

4. After I do what I have to do and get my license, is there a waiting period before I can start submitting offers and get MLS access? no once you pass the test here you can immediately do both, if your license is hung with a broker.

5. Did you find it better to take an online course or a classroom setting?

I think this is dependent on your preference, i found them both to be easy. 

6. Do I have to renew annually, take a lot of continuing education, spend more time trying to keep my license than investing?  In California it is good for 4 years and the additional education is pretty easy to attain in the necessary time limit. 

7, Is there anything that I should be asking that I don't know to?

If you decide to pursue your license, i would interview brokers previously to attaining your license, and look into if they offer any education/training, and what their intial fees are.