License or Not?

[Robert Burns]

I've been doing some REI in S. Louisiana for a few years and have a few rentals and done so assignment of lease options. I want to step up my REI activity and income and am seriously considering getting my real estate license.

I would appreciate some feedback from agents about some specific advantages/disadvantages in having a license in conjunction with my REI business.

[Karl Krentzel]

Great question!  I recently did a podcast with @JaredLichtin about this very issue.  I've also written extensively about this as I am also an Agent/Investor who is a Broker in Arizona.

Put simply, the pro's are thus:

1. Access to MLS Deals (Pocket Listings, and otherwise) 
2. Access to the Expired and Cancelled Listings (GREAT potential leads without any competition) 
3. Reliable, quick information about pricing (asking other agents and MLS)
4. Agents become your Buyers.
5. If you are a Realtor®, you know that the National Association of Realtors® Code of Ethics will ensure you get paid on referrals.
6. You have multiple streams of income as you are able to both represent others as well as yourself.
7. You are able to use that as a "Stick" against other Realtors® and Wholesalers in competition.

Of course, there are cons...

1. It does cost to get a license, to maintain it, and pay regular dues.
2. You must be associated with a Brokerage firm (I've written articles about how to find a good one) 

1. You must provide comparables (the Code requires it) 
2. You must use a State Contract (Again, code and standards) 
3. You must disclose your Principal nature (code, state statutes) 
4. You must disclose your intent (to flip, assign, or any of the above.)

In the end, I think it's worth it.  Let me know what you decide!