Should I get my license?

Should I get my license?

Walworth, NY · Member since 2016 · 16 posts · 0 votes

Hi,

I am very new to all of this - just finished reading J. Scott's book. I agree that there are several perks to getting your real estate license, but I am wondering if it's worth it if I only want to use it for the buying side. I would most likely still have another agent list and sell my properties as I am not a huge people person (open houses and negotiations wouldn't be my strong suit) and also have a full time job as a CPA, so time isn't something I have a lot of. The dues for my local real estate board (including access to MLS) would be $961 per year, plus obviously the costs of taking the 75 hour course, the exam, and continuing education credit. If I use the license just for buying properties, is it typical to get better deals due to the fact that the sellers of these properties wouldn't be paying the 3% buyer's agent fee? I think the biggest advantage would be access to the MLS and being able to view as many properties as you would like at whatever time you would like without having to feel like you were a burden to your agent. However, if it doesn't make any financial sense, then maybe I should just hire a buying agent as well.

Thoughts???

Thanks!

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  • Real Estate Broker · Tampa, FL · Member since 2016 · 41 posts · 13 votes
    10y

    Hi! 

    My advice as an agent is if you do not have a lot of TIME, then leverage the time you have by working with trusted agents who know the business. It is not hard for us to set up a search in the MLS that would send you properties and allow you to choose them.

    As far as better deals, it may be enticing to a seller to not pay the additional 2 or 3%, but that depends on their motivation to sell. Financially, I look for value in my time and the ability to delegate as many tasks as possible. So many want to be one-man shows...but why? 

    I hope this helps!

  • Lender · Chicago, IL · Member since 2016 · 653 posts · 313 votes
    10y

    I agree with Ayana. If you don't have the time your time may be more well spent having an agent send you possible deals and then you analyzing the deals. Only do the $500/hr tasks (as they're called). If you have a good agent, the buying process will be more efficient as well.

    It's still a matter of personal choice though!

    -Eric

  • Walworth, NY · Member since 2016 · 16 posts · 0 votes
    10y

    Thanks for the advice Ayana and Eric!  It probably will be best to at least start with an agent on my first few deals and then maybe later decide to pursue the license.  I just don't want to feel as though I am wasting an agent's time if I want to look at a ton of houses.  Also, is it difficult to find agents that specialize in investor real estate?  I would assume most buying agents are working with clients who are looking to purchase as homeowners.

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