Obtaining real estate license - broker or salesperson?

[Brittany Hershey]

My husband and I are looking into starting with investment properties. We both agreed that it would be nice if I could do the paperwork side of it. I’m located in PA and was wondering if anyone does this and which real estate license you would need obtain in order to be able to do the paperwork side of it for our properties - real estate salesperson vs real estate brokers license. Any guidance is much appreciated :)

[Steve Morris]

"I’m located in PA and was wondering if anyone does this and which real estate license you would need obtain in order to be able to do the paperwork side of it for our properties"

In OR, so can only address OR and WA (where I'm licensed).  To charge a fee for transacting a property (i.e. make money off the transaction without having an interest in it) you need to be either a licensed RE person or attorney.  Unless you are a managing (WA) or principal (OR) broker, you need to park your license under the supervision of them.  A principal broker allows you to hang your own license and usually requires time-served as a RE salesperson under a principal.

If you are buying property for yourself, you may (check with PA) not need to be licensed.  

However, I STRONGLY urge you to employ a RE professional such as an atty for contract issues.  Very cheap insurance.

If you haven't IDed the property or need to figure pricing then I'd call a RE broker.  If you're buying, usually they get paid out of a listing agreement or by the seller, so it's a low cost way to get some expertise - I realize RE brokers are all over the place on being able to help.

You are putting a LOT of your own money into a transaction and entering into a legally enforceable written contract that creates obligations on the part of all parties and, in the case of a buyer, may put you in a bad position on a property or with a lender.  A HELLUVA lot of stuff can go wrong and you get stuck.

IF THIS IS YOUR FIRST DEAL, GET A RE PROFESSIONAL FROM THE START!!!