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All Forum Posts by: Abena Yeboa

Abena Yeboa has started 1 posts and replied 4 times.

Post: Brokers License/MLS access

Abena YeboaPosted
  • Posts 4
  • Votes 0

@Russell Brazil thanks! Yes I’ve noted realtor.com and zip realty at least which definitely seemed like great free resources. Are there others? However I’ve also noticed how much people have seemed to value their mls access for investing so it seemed like something that could be worth considering.  Def appreciate your cost/benefit perspective as an already licensed person!

@Mike Cumbie thanks much for the reply! I am in New York City. But I’m looking to invest in property in TX(Houston prob), PA (philly) and Georgia(Atlanta). And yes it seemed like the cost/benefit could be worth the time/money at least as I understand at this stage. As I understand from my research, it would just be the $155 app fee and then whatever dues cost. 

Post: Brokers License/MLS access

Abena YeboaPosted
  • Posts 4
  • Votes 0
Originally posted by @Russell Brazil:

The often overlooked downside aspect of having a license is that it can hurt you when negotiating your own deal. Sellers and agents are much less apt to negotiate with a licensed individual. And its not unheard of, that if you get yourself too good of a deal, down the road the person files a complaint with the states real estate commission and say that you took advantage of them. Also throw in, e&o insurance does not cover you when you are a principal to the transaction. That last part is the main reason I no longer represent myself on my own deals.

Thanks much for the reply/insight, Russell—especially for providing a perspective on some of the downsides of the license!  Very helpful.  I think my primary benefit would be to try and gain access to mls opportunities as an investor. I think there potentially could be additional benefits down the line and in some select circumstances where I would negotiate my own deals, but I would not be inclined to do this regularly (if at all). I would much rather work with a great /experienced agent for deals I’m interested in and do referrals at this point for where I am and my knowledge base. 

Post: Brokers License/MLS access

Abena YeboaPosted
  • Posts 4
  • Votes 0
Originally posted by @Catherine Emert:

Aben,

Honestly it really depends on the MLS, for example our MLS in Central Oregon pushes our listings out to approx. 2000 websites, so for $45 a month in MLS dues we see that as a great investment and also guarantees us our cooperating compensation. I would look into the rules and regulations for the MLS you are considering joining and then weigh your options.

Thanks much, Catherine! That's definitely interesting to know. I would need to do more research on how MLS access in NY and the dues here work. I know there is license reciprocity with a number of states (PA being one of them), but it's helpful to know there are agreements to share among various MLS services!

Post: Brokers License/MLS access

Abena YeboaPosted
  • Posts 4
  • Votes 0

Hi Everyone,

Starting to learn about real estate investing and interested in continuing to learn more. I have a question on opinions re: whether it is advisable to get a brokers license for MLS access. I am an attorney and would not require the exam, education and certification requirements.

It seems like it is pretty helpful as an investor from the podcasts and various information I've reviewed. However, as I understand, you mostly get MLS access depending on the region/state. I live in NY and would get the license here but am interested and have been exploring opportunities in GA, TX and PA.

Would it still be useful to be licensed in NY?  Curious to hear others thoughts on what they would do and advice!  Thanks much in advance!