Investor · Pleasanton, CA · Member since 2015 · 28 posts · 11 votes
Hi Folks
I got my CA real estate agent license a couple of years ago & currently hang my license with a local broker. Going forward, I don't intend on being an active agent buying & selling homes, so my question is, short of giving up my license, is there any option to not pay all the quarterly board dues & broker office fees, E&O, etc., but keep the license in some "reduced" status, so I can still possibly reap the benefits of the real estate professional status for real estate investing. Thanks for any & all input
There is a reduced status called a referral agent. You hang your license and don't pay fees, but you can't conduct any transactions with the license. You'll only be able to get paid a referral fee if you referral bring business to the office.
Outside of the referral fees, you wouldn't be able to use the license in any capacity.
Flipper/Rehabber · Los Angeles, CA · Member since 2009 · 1k+ posts · 732 votes
8y
@Mano Chidambaram , this is one that I heard some people mention in CA. It doesn't look like they have any monthly or ongoing fees...just if you do a transaction.