Benefits of getting my real estate brokers license

[Jonathan Buckelew]

Hey everyone- do I saw a post earlier this week asking about any negative aspects to getting one’s RE license. One that stood out was the liability component. For example, being a licensed RE broker, you have to always be aware of the laws and even asking something as subtle as “where are you from?” can get you in a lot of trouble.

That example has stuck with me for the past few days and has in a sense taken away some motivation to complete my studies and sit for the licensing test. Am I being a bit too influenced by that? My goal is not to be a full-time broker but to be an investor/sponsor in the acquisition of Multi-Family properties and thought I could command more fees on the sale side with my license.

Would love to hear the positive of getting a RE license and if my aforementioned example is a bit far fetched

[Dennis Maynard]

That's a load of crap.  If you want to be in real estate, be in real estate. Who generally hears about the deal first?  Who is out there networking looking for deals?  Who is out there talking with people all day about real estate?  Who has more education, knowledge, and experience in real estate?  

I don't know who gave you that advice but they are not well informed.  You are liable no matter what.  If you are selling your own property and say the wrong thing to a potential buyer, you can still be sued.  The difference of having a license is you are educated on what those liabilities most commonly are.  Hence, you know not to say them or can rephrase into a different way.

Are licensees held to a different standard?  Yes.  But it is because you are educated.  It is no different than an attorney being held to a different standard in court.  You cannot be dishonest in your dealings.  But in my 15 years of RE, negotiating with sellers and buyers, I have never had the occasion to be dishonest.  I just call it as it is.  Tell the truth.

I think you should get your license and go work for a firm that specializes in Multifamily.  You will have more opportunity and get in sooner on deals.  This will also allow you to do syndication as well.

My 2 cents.