Does Any One Know the Benefits of a Newbie Investor with a CA RE License?

Question

I became a licensed real estate agent; in order to start as an investor.  One of the books I read recommended that it is better to become my own agent; however, in California, it seems to be a waste of time, because I have to work for a broker in order to access the MLS.  Therefore, I feel like I wasted my time becoming a licensed agent. Any thoughts about this.  I would appreciate it. Thank you.

Gary Erdoglyan · Answer

Thank You for the info, much appreciated Account Closed

Gary Erdoglyan · Answer

Account Closed getting my license to use when investing myself, i was listening to a BP Podcast Episode 10 , and the guest said it is a really good idea for an investor to get a license.... any advice on how you passed the exam, is it hard?

Account Closed · Answer

Dear Ali:

Hello Venice.

Thank you.  I stand corrected.  It has not really been a waste of time; however, I did not know that I had to work for a broker to be able to access the MLS.  And yes, I do have some benefits.  And the knowledge did not hurt me at all.

Good luck to you.

Ali Boone · Answer

You have to work for a broker anyway to get any compensation. Getting the license definitely wasn't a waste of time, there is a lot you can do with it.

Franklin Spees · Answer

Getting your license has a lot of benefits.  It equips you to do your own deals, gets you access to the MLS, can manage other people's property, and although its never convenient, the continuing education is a great way to continue to refresh and follow all of the changing laws.  I didn't take classes or practice under a broker because CA licensed attorneys can just take the test, but the continuing education material I use is also from Allied and it's great.  Best of luck to you.

Account Closed · Answer

Hi Garry:

Thank you for your good question.  Below you will find the courses requirements at the California Bureau of Real Estate.

I had already met two of the three requirements many years ago, when I took them at college.  Therefore, I only needed one more.  The exam is not difficult, if you study it.

I had an auto accident almost 4 years ago, and sustained horrific brain, jaw, eyes, head and spine injuries, and I am 72.  I took the required course I needed online at Allied Schools.  However, if you haven't taken any courses, you can take the 3 courses in a package.  I just reviewed the prep courses over and over.  A good and affordable prep course is out by John Henderson at www.realestatecentre.biz. He is a broker and a real estate attorney. You don't have to spend a great deal of money to study.  If I can pass so can you.  I just reviewed and reviewed over and over, until I knew the answers and passed the 1st time.  But first you need to understand the concept to know the answers.

There is also an Instructions To License Applicants," manual you can download at the website.

Here is the link for the requirements and are also listed on the manual.  If I was young I would have gone for my broker's license, about 5 or 6 additional courses.  If you would like additional information or have additional questions you can email me: tinam0742@twc.com.  Good luck to you.

Here is the link to the requirements website:

http://www.dre.ca.gov/Examinees/RequirementsSales.html

Mandatory:

• 1. Real Estate Principles, and
• 2. Real Estate Practice, and
•  
• One course from the following list:
• .
• Real Estate Appraisal

• Property Management
• Real Estate Finance
• Real Estate Economics
• Legal Aspects of Real Estate
• Real Estate Office Administration
• General Accounting
• Business Law
• Escrows
• Mortgage Loan Brokering and Lending
• Computer Applications in Real Estate
• Common Interest Developments

Jon Holdman · Answer

Almost all states require newly licensed agents work for a broker.  Most brokers require you to pay a "desk fee" and split any commissions you collect with them.  MLS access is typically fee based, too.  Some brokerages are investor oriented and you can sign up with them without too many further obligations.  Not sure who that might be in your area.