Should I get me real Estate license?

Question

I want to get into real estate investing. I currently have one property, and am trying to get more. I was thinking about taking a real estate course to learn more and get my license. It is not something I would completely jump into, I would just do it for my own deals and friends and family, while keeping my full time job. Can being a real estate agent on a small scale be worth it? Or would mls fees and such not work in your favor? Can one sell real estate with little to no fees associated? Thanks in advance.

Tony P. · Answer

bump - i have the same question.

i'm not a high volume buyer but am trying to grow my REI portfolio. So far I've been doing about a deal a year and am honing in on my 3rd. at the very least, buying homes w/o an agent saves you bout 3% on each deal, that alone would compel me to do it. after speaking with agents, the common response i hear is that due to all the fees involved and the opportunity cost of time, it's not worth it.

that being said, i've always been one to try something out and see how it goes for myself because everybody's situation is different. who knows, what if it actually evolves into something full time? you'll never know unless you try.

Catherine Emert · Answer

David,

You would want to check into the local MLS and Association. In Central Oregon our MLS dues are only $45 a month, but then you have lockbox fees, annual association dues, desk fees if you hang your license with an office and also keep in mind most offices take a portion or your commission. I have been in some form of real estate since I was 17 and just got my license last year at the age of 34. One thing to keep in mind though is that most homes that are listed for sale offer a buyers' broker commission, you may be able to use those commissions on your purchases to improve the property??