Oh, yes you did read that right
Search for it online and out of ten, nine sites to tell you about the benefits of getting your real estate license and before
You set your sights on getting one
here's a piece of advice having a real estate license is it as
Necessary as many people think of it to be what I find is thousands of real estate
Investors don't have a license
What's more mostly the sites that tell you to get a license will add how time-consuming?
The process is and how it isn't important to get one
Someone will even go further and list the downsides of getting a real estate license
So if you haven't applied yet for license or wondering whether it's really important
Here are a few reasons you can look the other way. I'm Rockland. I travel the globe for leisure
Exploration and education about different cultures join me and you too can be royalty this is passport Kings
Welcome aboard abroad
Alright so reason one is you can't buy any property
from any brokerage
All right when you have a real estate license. You cannot simply go and do the real estate deals yourself
You need to earn your license with a broker this means that you would be required to work under a brokerage firm or a broker
Till you get your broker's license well that guideline tends to differ in different states most places will have similar guidelines
For buying a property this means that while your non licensed status could actually allow you to buy the property from any
Brokerage where the license things are not as simple and straightforward as they might appear
You can no longer buy a property without informing a broker about it on top of that every brokerage office
Will have its own set of rules that you have to abide by
So while some require certain hours of training?
Others are actually for a certain amount of hours to be spent calling people holding open houses or
Things like that you may be put to work under one person for most of the time
Or you may just have to report to the organizational head
And while real estate agents can earn Commission these don't come their way directly they often go through the broker first
Who then decide it's hard to split them and share with the agent
Reason to
You'll face many issues with disclosure
once you have a license you're put on a pedestal and
considered a better being
Well this might sound good the position comes with plenty of responsibilities first
You'll need to disclose to your buyers and sellers that you are licensed agent meaning that you can't simply take advantage of a situation
Office once many real estate agents who have a license have found out today dismay that this high status and need for disclosure can negatively
Impact their business and personal portfolio growth if you don't want to be a real estate investor
But just a realtor with a nine-to-five job of selling homes
Then this disclosure shouldn't affect you and the being better being a better being will just boost your ego
Reason number three getting a license isn't as easy as it sounds getting licensed
Isn't just about calling the state licensing Commission
well They'll simply
Add you to a list the process is lengthy and time-consuming?
In fact if we break it down you will need to put about a hundred hours of coursework and plenty of studying
Before you take the exam
Which only qualifies you for the license and when you're there the exam isn't exactly easy and not many get through the first time
Following this process or other steps which include an FBI background check and other tests to check how legit you are once you a pre
Licensed the brokerage may ask you to take up
additional courses to do the process and beyond you'll be required to abide by the strict rules that the
Regulators will impose on you only when the brokerage firm and the government work together with your paperwork
Will you get a license which can be under the sponsorship of the broker number for real estate?
Licenses involve an expensive process not only time the process involves a lot of money, too
As you have to join courses first to prepare for the exam pay the fee and then join various
Organizations because you have a license
also
once you do get a license you will be required to work under a broker a
Commitment that could take up more of your time and money in addition coursework with the brokerage can get pretty expensive
Additionally costs also include the fees for maintaining the license membership to the board MLS fees
subscriptions ongoing training yo insurance ibx subscriptions fees taught local real estate agent bullets and also state bullets
Well, how many will tell you that this money spent is worth it because you build your network of agents
That's just an excuse networks like this can be built at other occasions that don't necessarily charge money once
You're in this line of work. You automatically mingle with certain people the best return on investment
I've ever had is buying folks at $3 coffee and networking
Alright, so number five there's an overload of paperwork
Finally you may love it or you may hate it
But you can't ignore it the paperwork once you have your license the paperwork is bound to increase like you wouldn't believe
Ice licensed real estate agents, and they'll tell you how two days in the week just go to getting paperwork done
I know that is necessary to have it all in place, but it could get rather frustrating
This is because as a licensed real estate agent
You'll be responsible for writing your own offers and submitting forms to lawyers
Brokers agents and don't forget the paperwork with the MLS
If you think putting in a ton of hours doing paperwork is not your cup of tea at all then you can get other people
To do it
But this again comes at a cost and then again you might not be entirely pleased with the results because you aren't under complete control
Reason number six that MLS access isn't all what is cracked up to be many licensed real estate agent experts
Also rave about MLS access being one of the distinct advantages of getting a license however
You also need to be a member of the local board and pay their fees and be part of a brokerage just to gain access
Through the real estate search engines - - defeat
Secondly many of the deals that you find on the MLS tend to be way too expensive and too that list of many expired
Historical listings you get a picture of what it's really like thirdly while legally speaking MLS access
goals
Only to those who have a license it is easily misused so in cases where your spouse has a license you can get access to
Despite you not having a license. I think you get my point getting the license does have its benefits
Once you've crossed the hurdle of time and money and have started loving the loads of paperwork
You're expected to do the Sun does come to shine on real estate license holders you have access to the MLS database
Which does hold some good listening and you get to form strong?
relationships with other agents
You even can take commission on deals most importantly you join the status of being a licensed real estate agent
Which not many have you've actually worked hard for it
However do remember that having a license doesn't qualify you as a real estate agent professional for the IRS
It is your work the quality and the number of hours that helped you
Gain that status also when you do look at the successful real estate investors out there in the market
You'll find an interesting trend most of them aren't licensed the reason behind their success is the single-minded focus on the work
They do well and that's investing in real estate
Before you decide on heading out for a license I suggest you think through the pros and cons
Actually self whether you're planning on long term commitment to the line of real estate
Wait the benefits of getting a license and put them against the downsides of getting one and while you're doing all this
Think about what it is you actually want from your real estate license is it financial freedom?
Or is it a sales tab so yeah? I can't wait to see what you guys do you experts are gonna?
Tell me about this one, but I can't wait to read it
Forward to is coming down on a comment section, or you could hit me up on Facebook or Instagram
But until then yo if you do it with a license or if you do it without
Make sure you invest in your property and other people's property like a king