Buying & Selling Real Estate
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Updated 28 days ago on . Most recent reply
Should I get my license?
I want to start investing in coastal GA and NE Fla. I live in this area too. I am considering getting my real estate license to be able to view the properties when I want, as well as get the commission to use towards rehab or other property DPs. It’s hard to stomach passing on commission money to an agent when I could just go get my license. Has anyone else gone this route? What are your thoughts?
Good morning, Rebecca,
I obtained my real estate license when I was 18 years old, and my broker’s license when I was 21. I ended up for a good portion of my career going the appraiser route. I ended up allowing my broker’s license to expire, but I still have an active certified general appraiser’s license, though I don’t actively appraise properties anymore.
Like most questions, it begins with the answer “it depends”. There are various costs to pursuing and obtaining a real estate license, whether in one state or multiple states. Then once you are licensed, you have to hang your license with a real estate broker, and there are costs associated with that. If you are actively selling real estate as an agent earning commissions, those costs are deductible of course. But your end game seems to be access to properties for real estate investment purposes. That’s not necessarily a bad strategy, as long as you deem the start up costs and ongoing costs associated with being an active real estate agent worth the value you are receiving from that.
A couple of the benefits as you noted are that you could view properties at your convenience and earn commissions when you buy or sell your own real estate. If you are actively buying and selling your own properties and/or buying to hold, that may be a good strategy. As you will learn during the course of pursuing your license, once you are licensed, you will need to disclose the fact that you are a licensed real estate agent when listing or selling your own properties.
I hope this information is beneficial for you.
Bill
- William Whitley
Yep, definitely get license. Just remember to disclose, disclose, disclose. There are a lot of benefits to having a license, MLS comps + access, viewing property anytime you want, getting and pulling property records and much more. Also, if you have clients that don't want a low ball offer, consider listing it for them!
Quote from @William Whitley:
Good morning, Rebecca,
I obtained my real estate license when I was 18 years old, and my broker’s license when I was 21. I ended up for a good portion of my career going the appraiser route. I ended up allowing my broker’s license to expire, but I still have an active certified general appraiser’s license, though I don’t actively appraise properties anymore.
Like most questions, it begins with the answer “it depends”. There are various costs to pursuing and obtaining a real estate license, whether in one state or multiple states. Then once you are licensed, you have to hang your license with a real estate broker, and there are costs associated with that. If you are actively selling real estate as an agent earning commissions, those costs are deductible of course. But your end game seems to be access to properties for real estate investment purposes. That’s not necessarily a bad strategy, as long as you deem the start up costs and ongoing costs associated with being an active real estate agent worth the value you are receiving from that.
A couple of the benefits as you noted are that you could view properties at your convenience and earn commissions when you buy or sell your own real estate. If you are actively buying and selling your own properties and/or buying to hold, that may be a good strategy. As you will learn during the course of pursuing your license, once you are licensed, you will need to disclose the fact that you are a licensed real estate agent when listing or selling your own properties.
I hope this information is beneficial for you.
Bill
Quote from @Edgar U.:
Yep, definitely get license. Just remember to disclose, disclose, disclose. There are a lot of benefits to having a license, MLS comps + access, viewing property anytime you want, getting and pulling property records and much more. Also, if you have clients that don't want a low ball offer, consider listing it for them!