Is it necessary to have a real estate license??

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Is it necessary to have a real estate license in order to be a successful real estate license?

I'd like to hear from those are successful and don't have a license.

Alexander Zurn · Answer

@Ty Murray I think you'll find many "successful" people have their licenses but not for the reason you may think.

I currently am very close to my first property. I started 9 months ago and have learned a lot in this time. One of my goals is to one day have my real estate license but not until I have can afford the fees for it and now that I will get a deal or two every year to pay myself back for the fees.

I think for most people success comes first. Then they find themselves loving real estate, wanting to find more avenues to properties so then they get their license, which is fine because at this point many people are successful and can afford it.

This isn't to say it is SO expense because.. it's not. It's something like 2-3k in upfront fees and then similar to join a brokerage (I believe). Then renewal fees every year can be a burden but again at this point in one's REI career, the cost is outweighed by the opportunity.

For a simple breakdown, here are the pros and cons

Pros: MLS access, not reliant on someone else to see the MLS or to literally go view the property, ability to make money off of it, list your own deals..

Cons: Fees (annual and upfront), continuing education of laws and regulation (i.e. time not spent on finding deals), always legally disclosing you're licensed, dealing with brokers taking a %

Now, these aren't all the pros and cons but certainly some popular ones.

Hope this helped.