Real Estate Liscense

[Tiffany S.]

My partner is considering taking the class to become a real estate agent. Is there much value in obtaining a Real Estate License just for REI purposes? Also if you are an agent do you have access to the MLS? Or do you need to be a broker?

Any recommendations for brokerages in Hampton Roads that will allow you to hang your licence?

[Kevin Martinez]

Agents have access to the MLS. Broker is just a term for an agent who has furthered their education past the basic requirements and passed the brokers license exam.

There are pros and cons to being an agent. I am not an agent but my wife and i plan on at least once of us becoming an agent in the near future. This is just my opinion but i think it can be very beneficial if you are an investor. The MLS is hands down the best place to comp your properties and access data about the properties all in one place. You also have the ability to view the properties yourself without having to wait on your agent. As well as the savings on commission when selling your properties. Your savings in commission alone can very well offset and surpass the fees associated with being an agent. However, you must always disclose that you are in agent when working with a seller but i don't see that being an issue. With that being said, plenty of investors have become very successful without a license. A very experienced investor friendly agent that is committed to you can be just as good. You can also get access to the MLS by becoming an Unlicensed assistant.

Hope that helps!