To Be or Not To Be A Real Estate Agent

[Ronnika Dillon]

Hi investing family!

Both my husband and I have fulltime jobs that pay well, but are of course capped income. Do you recommend both of us becoming licensed as real estate sales associates (agents with clients) or does one suffice?

We are interested in buy and hold rentals were we are the property management, in addition to buying and developing land in upcoming areas.

What are your thoughts of both of us becoming licensed versus only one spouse or neither of us becoming licensed. I know some benefits would be access to mls and agent fees. Are there any additional?

Thank you for your help!

[Nathan Gesner]

Do you fully understand the costs of becoming a REALTOR? 87% quit within the first two years because it is not as easy as it looks. Real estate has a very low barrier for entry but is difficult to make a living. People that get into it and survive usually have some other source of income to survive off for the first couple of years. There are a few that really hustle and are successful in their first year but that takes a special person, the right brokerage, and some serious hustle.

If you're going to do it, I would start by saving up six months worth of living expenses. Then one of you get your license and try real estate while the other continues working their W-2 job for security. Choose which one of you is most likely to be successful to go first. After the first one has developed a business, then the second one can take the leap.