The most obvious benefit of getting a real estate license is the opportunity to work with real estate investors. However, there are some disadvantages to becoming a real estate agent. You will have to undergo a rigorous licensing course, pass a test and a State exam, and you will have to keep up with continuing education courses every two years. Besides, the process can take up hours of your time, which you can spend investing.
Another major advantage is the increased networking opportunities. The more you network, the more opportunities you will have to close deals. In addition to networking, getting a real estate license will make you more accessible to other agents. Just being in the right office or meeting the right agent can completely transform your investing business. Moreover, you will not have set hours for this business. But this advantage is well worth it!
Another major benefit of a real estate license is access to the Multiple Listing Service (MLS). This is an essential resource for finding properties on the market. Unlike the free MLS, which is limited and incomplete, a real estate license allows you to access more information on properties available for sale. The downside of getting a real estate license is that it can cost thousands of dollars to get a license. A real estate license also comes with ongoing costs, including Association of Realtors dues, state fees, brokerage fees, and MLS access.
As a real estate license holder, you can choose to become a leasing agent. This position involves marketing properties and finding tenants for them. There are also real estate brokers who work under the supervision of head brokers. The latter option allows you to start your own real estate brokerage. A real estate license can be a good option for many investors, but the downside is that you may have to pay for it!