Should I get a real estate license? Pros and cons?

Should I get a real estate license? Pros and cons?

North Miami Beach, FL · Member since 2017 · 28 posts · 2 votes

I'm on the market for an investment property. When I talk to a realtor about my requirements, price range, size, year, etc. I often hear that's it will be very hard to find. Nevertheless, I see that properties in the areas I'm looking for being sold that fall within my criteria every single day.
Moreover, a few properties got under contract before my realtor was able to reach out to the selling parties. With one realtor, it took 24 hours, with another 6 hours.
The other issue, I don't feel like realtors nowadays doing a good job, or at least it's my experience. Twelve years ago, when I purchase my first property, the realtors would search the area and filter the listings that won't fit my expectations, by scrupulously going through each listing. And then they would give you their recommendations or/and suggestions. Today, they just sent you everything that falls within search criteria and expects you to go through each of them yourself.

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  • Rental Property Investor · Springfield, MO · Member since 2019 · 462 posts · 365 votes
    6y

    There are only two reasons I believe an investor should get their license.

    1. You want to become a Real Estate Agent

    2. You are buying/selling enough of your own properties per year that it makes sense (talking millions of dollars a year in real estate transactions)

    If you can say yes to one of the above questions then get your license. Otherwise, get a better realtor if you aren't happy with the one you have.

  • Real Estate Investor · Salt Lake City, UT · Member since 2009 · 11 posts · 1 vote
    6y

    Not worth getting your license if you're just buying or selling a couple properties a year.  There's a lot of time involved to keep your license active.  Full time real estate agents have to do quite a bit of volume to make it pencil out.  Understand that they receive a lot of calls from potential buyers who want to buy but would never qualify, and then they have clients who buy and sell homes every month. The agent spends their time on things that are a sure thing to make them money.  You will have to sell yourself to the best agents, get prequalified if you haven't, show them proof of funds, just generally make them comfortable that they will get paid some day.

  • Calvin OzanickBusiness Member
    Property Manager · Janesville, WI · Member since 2017 · 707 posts · 297 votes
    6y

    Access to the MLS is not enough to justify getting your license. Get your license if you intend to pursue selling real estate OR you plan on selling enough of your own properties where you save enough on the commissions to justify the course and fees. Otherwise, you are just working with the wrong agents.

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