Real Estate License in North Carolina to access MLS listings

[Kou Y.]

I wanted to get a Real Estate License in North Carolina to have access to the MLS listings and comps rather than relying on another Real Estate agent. I notice that on a website that trains Real Estate students that once the student pass the state exams, they needed to be attached to an experienced Real Estate firm or something similar. I don't want to sell nor list properties, I just need to have access to the MLS so do I need to be attached to a Real Estate firm ? Can anyone that pass the state license have access to the MLS or do they have to actually work as an Agent ?

Thanks,  Johnny

[Dean I.]

You don't have to "hang your hat" so to speak to be licensed. Once you pass the state and federal exam and apply for your application (assuming that you don't have a criminal background that would hinder you) you will be licensed as a provisional broker. However, in order to be active and have access to the MLS, you will have to work under a BIC and become a Realtor. You can then buy and sell your own properties. So long as you are up front with the company or broker you plan on working under, most will be fine with your situation and not require much of you except their general fees. Eventually after 2 years (or 4000 hours within 5 years) you can then take a course and apply to become a BIC. At least, that is how it works for most agents. With that said, as an investor who will not be actively representing buyers and sellers, the commission will likely not approve you as BIC as they will probably want some type of proof that you can actually run a real estate office within getting into trouble.

While I know your main concern is having access to the MLS, you might as well give yourself the commission on the purchase and sales of your own property too. Also, when looking at investment properties, as a real estate agent, you can open pretty much any door without relying on another agent. This is especially nice since you will probably want to check out multiple properties to include finished rehabs that you don't plan on purchasing.

As far as getting your license goes, I would suggest getting the audio CDs on real estate definitions and concepts as well as the additional study guides with practice exams. I think both are published by Dearborn. I would also consider taking a shorter course (Mine was 6 weeks, although it was pretty tough with my schedule) rather than a longer course as you can easily forget what you learned in the beginning, unless you are constantly reviewing. Finally, when you do complete the pre-licensing course, make sure you take your test right away. It is a lot of information to retain and the longer it takes for you to take the test, the more of the information you will likely forget. 

Oh, and if for whatever reason you decide not to use your license, make sure you still pay the $45 to renew it every year so that you don't have to retake the class and exam again in the future. As long as you pay that renewal fee, you will be a licensed real estate broker (provisional or full if you took your 3 post licensing classes and required CE), you just wont be active.

I hope that helps.