New investor thinking of getting a license, a couple questions

[Matt James]

I am thinking getting a license to help me see the MLS and access to the property faster. My questions is: 1. if I am planning buy/sell property only for myself, do I need to be affiliated with a broker? what is the pros and cons? Don't know how much benefit I get from them and how much it costs me. 2. would I be able to access MLS once I passed the exam?

Thanks in advance!
 

[Charlie Cameron]

@Matt James you have to hang your license with a broker to practice real estate.  If you want to minimize fees you can do that one of a few ways: 

• Go to a 100% commission broker and pay a per transaction fee instead.  Expect little to no support (and getting your license does NOT give you everything you need to go out and transact well on your own).  
• Go to a higher support but still investor friendly brokerage that allows you to do some personal transactions (including investments) at 100% commission each year.  
• Go to a traditional brokerage... which are not typically set up for investors, though there are small niche investor friendly ones around. 

And yes you can get MLS access which does give you an advantage. You'll be able to see deals faster, set up your own searches anytime and be notified immediately, access properties faster (like digital lock box access), you won't have to wait on a buyer's agent for anything, you'll be able to submit an offer faster, AND you'll be able to earn commission on your deals, accelerating your investing. Cons are some expenses (everyone worries about this, but if you're doing more than one transaction a year, you shouldn't) and that getting licensed can be a distraction from investing. Hope this helps!