Given the number of times I’ve been asked whether I think getting a real estate license is a smart move, I thought it was time to address the topic in an article.
So, if you’ve been wondering about the benefits and drawbacks of getting your license to benefit your real estate investing business, you might want to check this out:
Getting Your Real Estate License
And, of course, all feedback is appreciated. I know others have a different take on this decision, so if that’s the case, feel free to share your disagreement as well…
I truly appreciate your article on this subject. After getting a license, where do you recommend investor to put their license under? a flat fee based or a well-known bigger broker firm with a percentage commission? what are the pros and cons? Of course, my goal is still to focus on investing, with helping clients as a add-on.
Thanks!
Rachel –
If your primary use for the license will be investing, you need to optimize for 1) Not having to spend a lot of time in the broker office, and 2) Keeping the bulk of your commissions. This would point towards a smaller brokerage firm, or one that specializes in working with investors.
On the other hand, if you plan on taking on clients, your best options are either to hook up with a bigger name company, or to find a small broker that will let you co-brand with your own personal company/brand, and start to build your company’s recognition.
Either way, interview several brokers before you make a decision…I have a feeling that after a few interviews you’ll start to recognize those key assets that will most help you be successful.
Hi Scott,
Thanks so much for your quick response. It makes sense. Once again, I am so glad that your website is full of useful information to be shared with other investors. Best wishes for your family and continuous prosperous years to come for your real estate investments.
Rachel