Posted by Jim (Tx) on November 20, 2003 at 11:05:01:
Cece: Thanks for the feedback. Its helpful to get an opinion from someone whose been there. You confirmed for me what I already thought. Jim
Worth it to get Realtor license? - Posted by Jim (Tx)
Posted by Jim (Tx) on November 19, 2003 at 16:42:56:
My plan is to get my Realtor license in order to pump up my short term income while pursuing real estate investment opportunities. My thought is that training for and performing as an active agent will not only enhance my RE education, but also aid in my search and evaluation of properties. Is this a viable plan? Interested in pros and cons. Thanks, Jim
Re: Worth it to get Realtor license? - Posted by Rob FL
Posted by Rob FL on November 19, 2003 at 20:38:37:
Check the archives. This question has been asked about a zillion times already.
Pros: save on commissions, can offer to list as well as to buy their house, MLS access, lockbox key, access to free contract forms, legal hotline, potential to get about 5 times more leads on deals than investors who aren’t licensed
Cons: education requirments, fees and dues, disclosures
To me it’s kind of a no-brainer. Do I want to spend $1200 a year to get realtime access to the MLS, or do I want to have to rely on someone else to give me this information whenever it is convenient for them to do so?
Re: Worth it to get Realtor license? - Posted by Cece Blase
Posted by Cece Blase on November 19, 2003 at 18:51:29:
Get the license. I repeat, get the license.
When I got licensed in 1986 a real estate investor who was far wiser and older than I was told me to never let it expire. Even though I no longer sell full time, I’ve followed his advice. Keeping it gives me a certain degree of credibility in the real estate world and I’ve had years where I’ve pulled in an extra 10-15K just from referring friends and family to agents who are out there hustling full time.
You’re also right to ascertain that a license helps you in your search and evaluation of properties. When you’re out working as a realtor, you learn how to literally “sense” the market and develop a skill for reading where values are going to go in different areas. Eventually you develop an eye for the good deals and know when to snatch them up.
There is one minor downside-- as an agent you are held to a higher standard in your dealings with other people. If (God forbid) you should ever get tangled up in a lawsuit over a real estate transaction, you will have greater accountability. I would not let that concern get in your way, however, unless you’re a complete snake in the grass who is aggressively seeking situations where you can take advantage of other people’s ignorance.
Good luck with your real estate investment.
Cece Blase