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Updated about 9 years ago on . Most recent reply
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Getting Agent/Broker License for Investing
I've read and heard in podcasts several times about people getting their RE licenses for the intent of investing. While I understand it is not necessary, I can see the potential benefit. At least in Ohio, what I've read is that you need to be sponsored as an agent by a broker for 2 years before you can go on your own.
I'm wondering how people have gone about doing this in the past? Are these brokers people with their own established practice or other investors? Why would they even be willing to help you out? Are they receiving a commission split on your deals by being your sponsoring broker?
Also, what's different between the agent and broker that allows brokers to go it alone? I'm guessing becoming a broker is what most investors are ultimately striving for?
Thanks!
Most Popular Reply
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I'll let @James Wise weigh in here.
Ultimately, you can't get your license in Ohio without having a broker sponsor you. Why? Cause you don't know what you're doing and they are there to help. You need experience in the field before you can consider going out on your own, that's why the 2 year time limit and number of transactions before the board will approve your application.