To get real estate license or not?

Question

I am a new investor with 5 doors currently under contract. I have a career, but since I want real estate investing to be a long-term part of my life, should I get my real estate license? I understand the benefit of being able to represent myself in deals, but I am more so interested in the educational learning that would come with it. I appreciate everyone's thoughts.

Jeff Brower · Answer

I agree with those above. I have a full time W2 and got my license in 2016. Ive done about 4/5 deals per year for my sphere of influence and have paid myself commissions on rentals that I have purchased for long term hold. For me, it has been worth it. There is a major advantage of having access to the mls. If a home pops up that youre interested in buying you can be in the home and have an offer written before most of the general public sees it pop up on zillow.

Billy Ross · Answer

I was in your shoes recently Gregory, I decided to take the plunge and get my license.  The license course is very informative. It will help you to understand contracts, types of ownership, how property is transferred and other relevant topics for your investment goals. I went full time as a sales agent and am now learning how to market myself and build my brand. It isn't easy but I am confident if I keep doing the right things I will become a succesful agent and achieve all of my real estate goals. Cheers and good luck!

Jonathan Greene · Answer

I think all investors should have their license for access and comps, first and foremost. I wouldn't take it as a given that you will be the best agent for your flips though. New investors get their license and do a flip and list it and wonder why it doesn't sell, but it's because they don't know what they are doing on the listing side at all (and usually overprice their first flip). Access to properties and real comps is worth the fees and there are plenty of brokerages now with low input fees and won't harass you. The actual course is much more relevant for investors than agents, but if you don't plan on using your license to work with family and friends, you may decide it's not worth it. I tell all the investors I work with that the hidden perk of having your license (even with a regular job) is that you have a network that already trusts you, so why wouldn't you want to help them find a new home instead of Joe Smith from 123 Main St who doesn't care about them.

Gregory Zakas · Answer

Thank you guys for all of your input! I've asked every agent I know this question, and most of them have said it would be a benefit. I think I am going to take the plunge and go for it. Is it worth it to get licenses in multiple states?

Thanks again!

Stephen Jones · Answer

@Gregory Zakas

Good for you for wanting to get your license. I am in the same boat and want to get my real estate license as well. I will be following this post. Thanks for sharing

To get real estate license or not?

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