Getting my Real Estate License

[Matthew Reid]

Hello,

I've been doing a lot of reading and listening on BP and most investors seem to say that getting your Real Estate License is a good idea if you're looking to start investing.
I've decided that it certainly can't hurt and would most likely be very beneficial.

Let me say that I work full time and have one rental property that is mostly self sufficient. I don't want to be a full time agent, I'd really like to get it for investment purposes. I'd like to help out friends and family and pick up a couple outside listings, nothing crazy.

I live in Maine and I'm being told that not many agencies will want a part time agent. Since I have to sign on with an agency for two years before I get my Brokers License and presumably stay with one after I get it, how can I make this work?

After I get my Sales Agent License I have to get my Brokers within two years or retake the class/exam for my Sales Agent again. It's about $400. I have no problem with getting my Brokers, the education will be great.

I'm curious about how all the other investors get their license for investment purposes? Do you work full time as an agent? Did you find an agency that will take you on part time? It seems like it's difficult in Maine, is it this way in every state?

Thanks for the insight.

Matt

[Steven J.]

Matthew Reid Good idea so far. I've had the same thoughts. My conclusion so far is that I won't be a Realtor yet because getting your license does limit the types of deals you can do and how you can be involved with them. I may be wrong on this, but I believe lease/options are not favored for Realtors.

What I would suggest is to find a realtor looking for an assistant. It would be some boring grunt work, but it would be hands on learning and if you find the right agent you'll get access to their mls. I believe there was an article on BP where someone was an assistant and had more access to the MLS because she worked for multiple Realtors. Each Realtor has their section of the MLS they can see but as an assistant you can work for multiple agents over multiple areas.

Hope this helps.