Benefits:
Being licensed as a real estate agent provides:
- MLS Access – property comps, searches, history, no waiting on agent, agent investors can list properties,
- Commissions – collect commissions on purchases, sales, leasing
- Rights, Privileges – grants you all rights and privileges of agents – representation, commissions, property manager, etc.
- Control – deal direct with sellers, agents, title companies, lenders, appraisers, inspectors, etc., control all aspects of deal including marketing, showings, closings, etc.
- Credibility – real estate agents have increased credibilty with sellers, buyers, tenants, other professionals with licenses
Cons:
Investors who get their real estate license face additional…
- Education – although minimal still must take classes, exams, and continue education
- Costs – fees for education, exams, annual fees for MLS & Realtor certification, broker fees, insurance
- Disclosures – required to protect yourself, but agent standard should be minimum anyway
- Paperwork – agents have requirements for paperwork if representing others, may have to use state-approved documents
How many properties you plan to buy/sell/lease, whether you're part-time or full-time and your state-specific requirements will determine if getting an agent license is right for you. Don't just listen to someone else – do the research yourself. Again, this is Frank Chen with REIClub.com. Please take the time to leave your comments for this video below and please subscribe to our YouTube channel so you'll be automatically notified when we upload more quick video tips for you. Take care and good investing.
We love your feedback and welcome your comments.
Please post below: