Investors getting their Realtor's License

[Reynold Orozco]

I am an investor and thinking on going for my Realtor license just to get access to the MLS and get comps ASAP. Also to sell my own flips to save commission cost. I want feedback from the Investors who got their Realtor's license. I was thinking I can list some properties that I get from my marketing that the numbers don't work for me as an investor but I sure can list it on the MLS and possibly get it sold there. Pros and Cons?

[Andy Crooks]

In Wi it costs a couple hundred bucks to get the license and about a grand a year to keep it active. If you are fairly active you can probably post your license with most brokerages. However know that the commission terms are negotiable like everything. What percentage of the commission does the broker want? Do they want a flat fee per month (probably a higher amount for big earners). They could reasonably ask for 30% of the commission percentage to help with their operating costs, so take that into consideration when looking at your

Also in my state you can't accept a commission for something you personally own (different if it is in a LLC with joint ownership). You CAN take the commission as a credit at closing if you word your documents right.

I got my license first, and for me it is worth the access to information. Also you can learn more about the standardized forms which can help you structure better deals. But then again I have never been without it so I can't speak into that.

Lastly not all deals make it to the MLS. Get familiar with your local register deeds for land and other off market sales. My county has digital software that costs $20 per month to access remotely for up to 150 minutes . You don't need to be a realtor to use, but you need to know what you are looking for. This has both MLS and non MLS comps but it not nearly as easy to use as MLS.