Should I get my Real Estate License (again)?

Question

Several years ago, I obtained my Real Estate license, but it has been expired for several years now.  I am thinking about getting my license again.  I know that there are a lot of people that are investors/agents, but I would like to know some of pros & con to being both.  Any suggestions?

Dave Savage · Answer

@Sherry Morris if you only want to wholesale to start I would consider not getting your license.  The broker you work under will have serious reservations about you wholesaling, and you will have more disclosures than other investors that may hurt your chances at closing deals.

Realtors do wholesale in many cases, but in general I would say 80% of wholesalers (with that as their primary business) are not licensed as it gives more freedom to work out deals.

Do your research, talk to a few brokers in your area(they are always looking for agents so they should be very approachable) ask them about what you want to do and get their opinion as well.

Sherry Morris · Answer

Thank you, Dave!  I will definitely keep that in mind.

Sherry Morris · Answer

Thank you all for your comments!  One of my long-term goals is to purchase "buy and hold" properties.  To start, I would also like to wholesale properties so I can build income.

James Syed · Answer

Welcome to BP.

In general, it will be beneficial to you if you have a license. You will have current data (local mls). When you show someone a property, you are also looking at for you at the same time. There are other benefits as well.

Having said that you will have to pay fees, memberships, etc for your license.

Hope it helps.

Mark Ferguson · Answer

yes, it all depends on what you want to do.

Dave Savage · Answer

@Sherry Morris the answer to this will depend greatly on your long term goals.  Let us know if you want to wholesale properties, or hold properties, etc

Should I get my Real Estate License (again)?

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