Posted by ken in sc on October 03, 2000 at 07:56:26:
For the record, I do have a brokers license.
PLUS- As you say, you can get a lot of info from MLS which I find very helpful. You can also list property for sale which, although I prefer to sell myself on a ls/op, can be helpful when it is taking too long to sell. I list my own for sale and only pay 1/2 commission since I am the listing agent.
MINUS- As a broker, I am subject to (and can get sued on) state laws and license rules which an individual is not. For example, and ad in the paper must say “broker/owner”, and the buyer has to sign state forms about agency disclosure, etc. Also, all realtors feel that they can get a commission from me if the see one of my signs for sale, even when I don’t want to pay a commission and am sure I can sell ls/op. The “professional courtesy” issue comes into play.
If you could have unlimited access to info, and not be licensed, it might be the best of both worlds. Can you rent space (and thus MLS access) from a local broker? Just an idea.
ADVANTAGE or DISADVANTAGE plz respond - Posted by James C
Posted by James C on October 02, 2000 at 11:57:13:
I have a question,for everyone. Would it be a advantage to have a real estate license as a investor.As far as getting access to MLS listings, building confidence in talking to people, and also learning your marketplace.SO much advice is giving that we should make friends with a real estate agent.So we can get prospects for our houses or possible leads.I think it would be a GREAT benefit to do it for those 3 factors I mentioned alone.I would like to hear any one elses input in the matter…I am curious to know what every one else up here thinks on the subject…Thank you
There are many advantages to being a real estate agent, but Ken is right. You have certain laws that you will have to abide by if you decide to become an agent. I love being an agent.It has been a real plus for me. Be prepared to spend some money if you do go into the business. Good luck, no matter what you do.