Investor · Mc Kinney, TX · Member since 2013 · 49 posts · 6 votes
Hey Guys and Girls,
Looking for an answer to a simple question but i cannot seem to find it anywhere. I live in Texas and have a full time job but invest in real estate on the side. I was contemplating getting my RE license. From what I can find if you don't have a job with a broker then you are considered "inactive". My question is that if I am "inactive" can i still buy and sell property for myself? and have access to MLS? and have the ability to call and schedule house visits on listed properties? or are these things that only "active" agents can do?
I also have read that there are some brokers that have very low desk fees, and that some investors will "hang their hats" with these brokers. does anyone know of any brokers like this in the north Dallas area?
There is some truth to what you’re saying. In order to utilize your real estate sales person license, you must hang your “hat” with a broker. But there are many brokers out there that will accept a part time agent. Just call around to a few of them in your area. Many of them won’t even charge you a desk fee. In exchange for a desk fee you could just negotiate a higher split. Maybe 50/50 or 65/35 (65% of each commission you earn going to your broker).
But to answer your question… if you license is current and all of your dues are paid you don't necessarily have to work with outside clients to keep your license "active". You will have access to the MLS and you'll be able to schedule your own showings. Just stay on top of your annual dues, fees and continuing education.
You have to be "active" with your license at a broker (it's not a "job" though) AND you have to be a Realtor in order to have MLS access and key access.
There is some truth to what you’re saying. In order to utilize your real estate sales person license, you must hang your “hat” with a broker. But there are many brokers out there that will accept a part time agent. Just call around to a few of them in your area. Many of them won’t even charge you a desk fee. In exchange for a desk fee you could just negotiate a higher split. Maybe 50/50 or 65/35 (65% of each commission you earn going to your broker).
But to answer your question… if you license is current and all of your dues are paid you don't necessarily have to work with outside clients to keep your license "active". You will have access to the MLS and you'll be able to schedule your own showings. Just stay on top of your annual dues, fees and continuing education.
How does this change if you only want to sell vacant land? Say you get a vacant land parcel under contract or have an option or exclusive option to buy the property, do these same rules apply for being able to market the property? I would think because there is no up keep or any of the traditional issues found with buying houses, wouldn't the rules for buying and selling vacant land be different also? Please advise.
Hi Nick! the program I use to buy and sell vacant land and now houses actually taught me how to do it with out a licence. I had just completed the courses I needed to apply for the state exam in California when I found Land Academy! Please feel free to connect with me!
Buying and selling For Yourself does not require a license....but to Use a license, represent others, join the mls, etc., it has to be active. Being inactive is like not having one at all.