Is Broker's License Worth It?

[Omar Naguib]

Hey, guys!  I'm a 19 year old aspiring fix and flipper, but I have low capital and no experience.  I've taken J Scott's advice (from "The Book on Flipping Houses") and I'm getting my salesperson's license.  However, I'm going to the University of North Texas, and if I minor in RE, I believe I can skip the other requirements for a broker's license, since I'm taking my classes at a university.  My question:  Should I definitely go for the Broker's license?  Or should I focus in programs that would supplement my license, like Economics or Finance?  

Any help is greatly appreciated.  Thank you for your time.

[Fred Heller]

Hi @Omar Naguib 

It's true that a college degree will satisfy the 630 related course hours required by TREC to get a broker's license. It's not true that you can become a broker right out of college unless you satisfy the experience and number of transactions requirements.

TREC requires four years experience as an active salesperson, and also requires that you perform a certain number of transactions during the five years before your application. They have a point system which seems a little complicated. You are awarded a certain number of points per transaction, depending on the type of transaction. The last I checked you need 3600 points to qualify for a broker's license.

You'll still need to take the qualifying courses which include 180 hours to get your initial license, plus an additional 90 hours in the two years before your first renewal.