I am considering obtaining my real estate salesperson license for the state of Nevada. Would I still be able to do creative deals such as wholesaling? Will a license be a benefit me for my investing future or will it hold me back? Any input would be greatly appreciated
Michael J Ryan
Always a great debate, but it really comes down to personal preference. I’m getting my license myself (2 weeks away) because I want to be able to access the MLS, make offers and get into houses that are for sale on my own time and not depend on an agent. This works for me cause I work a full time job and need access to these things at odd hours of the night. You can also collect a few extra bucks with commissions and referral commissions.
On the negative side, you have to disclose that you are a realtor upfront (which might turn some people off). You will also have to worry about following the realtor’s code of ethics and risk being fined thousands of dollars if you don’t. This is a problem for some and not for others.
in closing, there are some investors who swear by getting a license and others who think it’s a terrible idea.
Heck, get your license work with it for a while and if it’s causing problems just don’t renew it when it expires.
Hi Scott I also think you are right at your strategy. It is very inspiring to have a license for salesperson and it’s easy to get rid off if it doesn’t serve the purpose. Thanks. Nick Brian.
My business partner has his license. It works great for him, because he is able to do other creative things outside of our wholesaling business. He teamed up with a local broker who allows him to focus completely on working with and serving investors in the area rather than selling specifically to homeowners. So I guess it’ll depend on where you decide to work as well. Each broker will be different.
The best routes to take are to research the process of starting a business as well as the industry you’re interested in.
I recommend checking out the SBA, Entrepreneur, The Start Up Journal & Nolo. All 4 are great informational resources for the new/small business owner. I posted links for you in the source box.
Associations may be a good avenue to explore as well. These organizations will address many of the thoughts, questions and concerns you’ll inevitably have as well as many you haven’t anticipated yet. See the source box for some relevant links.
Research, research, research – this cannot be stressed enough. Read as much as you can about the industry. Here are some book titles that are relevant:
The best routes to take are to research the process of starting a business as well as the industry you’re interested in.
I recommend checking out the SBA, Entrepreneur, The Start Up Journal & Nolo. All 4 are great informational resources for the new/small business owner. I posted links for you in the source box.
Associations may be a good avenue to explore as well. These organizations will address many of the thoughts, questions and concerns you’ll inevitably have as well as many you haven’t anticipated yet. See the source box for some relevant links.
Research, research, research – this cannot be stressed enough. Read as much as you can about the industry. Here are some book titles that are relevant:
The best routes to take are to research the process of starting a business as well as the industry you’re interested in.
I recommend checking out the SBA, Entrepreneur, The Start Up Journal & Nolo. All 4 are great informational resources for the new/small business owner. I posted links for you in the source box.
Associations may be a good avenue to explore as well. These organizations will address many of the thoughts, questions and concerns you’ll inevitably have as well as many you haven’t anticipated yet. See the source box for some relevant links.
Research, research, research – this cannot be stressed enough. Read as much as you can about the industry. Here are some book titles that are relevant:
The only problem I see with have a license as an investor is that if you get into any kind of lawsuit or altercation it gives people something to go after. Also the whole telling people you’re a realtor thing is a turnoff too.
I’d rather just hire a realtor and keep finding buyers and making deals, thats just my 2 cent.
I know one Investor’s script… it starts like this:
Hello, I’m a Real Estate Investor and I have to tell you a Licensed Realtor as well…
He then proceeds as normal.