Having a real estate license opens doors to a variety of ways to make money in real estate. It can give you an edge when it comes to finding off-market deals, establishing good relationships with lenders, and saving half of your commission costs. In addition, it will speed up your communication, research, and deals. You may also find that getting a license will give you access to higher-priced properties.
If you’re a serious investor, having a real estate license can be invaluable. A license will provide you with access to the multiple listing service (MLS), the database used to find the majority of properties on the market. In the United States, this is the single largest source of on-market deals, which makes it vital for investors to have a real estate license. A license will allow you to access the MLS and use it to make informed decisions.
While you can represent yourself without a license, the money you save can add up over time. A license will also let you avoid paying a real estate agent’s commission, which can add up quickly if you are working on high-volume deals. Having a license allows you to control the deal, which means more profits for you. It will also give you access to a large network of real estate investors and give you greater control over your investments.
Getting a real estate license is a big expense. The fees associated with getting your license can run several thousand dollars, and you’ll also need to pay for Realtor dues and E&O insurance. In addition, you’ll be required to devote at least 150 hours to studying before you can invest in real estate. However, if you’re just starting out, you may not have the time to go to college or take a real estate licensing course.