Real Estate Licensing?

General Real Estate Investing
1

Hi All-

I am just gearing up to begin my RE investing career. I’m currently doing my homework before I jump in. I am considering taking a real estate licensing course. I have no desire to become an agent, but think this course could be valuble moving forward. Do any of you veterans have any thoughts on the pros and cons on having an agents license as an investor?

Thanks for your help!

Paul

2

i’m not a veteran by any means, but one investor told me that taking the course will help, but getting the licence will hurt you in some ways. (the more responsability you have kinda thing)
This doesn’t give you a definate answer, but i think it can help in making the decision.

3

This topic pops up every once in awhile. I have had tremendous good fortune having my license. I use it mostly for my own transactions but take on a few clients during the year.

Taking the course will teach you a lot about agency, titles, laws, easments and the like. It is practical and useful info. HOWEVER, real estate course DID NOT prepare me for any of the trouble I ran into in the course of buying property. Only experience and yakking on here will do that.

I did my first 5 transactions with an agent. He was very helpful and I was happy to make him money. I suggest you go that route and get your license later if you think you will be doing some volume.

I don’t see the downside to not having the license (except the cost). You must disclose you are an agent in your dealings. Some people say that is negative but I haven’t seen how. If you are above board, disclosure should not be a problem. Sellers seem to be more confident that a purchase facilitated by an agent owner may go through.

Some people pre-forclosure and the like may be turned off by being an agent but you don’t need a RE license to come across as a greedy shark.

In summary. Use an agent or agents, learn from them, if you think you will be buying, selling or facilitating, 4 or more properties a year, I reccommend getting the license. The course alone is not all taht necessary.

4

Thanks that’s helpful info. I think i’m going to go for it!