Real Estate License

[nrotundo]

Hello, I'm an active real estate investor and I've always considered getting my real estate license for the following reasons.

1. Cost savings when transacting
2. Enhance RE knowledge
3. First hand access to industry knowledge.

I wondered if any real estate investors also contemplated getting their license and whether it was worth it.

 

[Thomas Beyer]

It is NOT worth it unless you
A) have a large portfolio that you wish to sell,
B) envision buying lots or
C) facilitating real estate for others as a profession.

In many instances a realtor license hinders any creative strategies or low ball offers.

 

[nrotundo]

Great insight - Thomas.

I was going to do C - to cover annual fees. I also thought the license would come in handy on personal transactions.

Curious - can you elaborate on hindering creative strategies?

 

[RELover]

Hello everyone,

I'm a new member and looking forward to gaining knowledge and insight into beginning my real estate investing adventures!

What are you thoughts on investing in a pre-construction home in Cambridge, Ontario?

 

[RELover]

I'm sorry I meant to create a new post! So sorry

 

[Cory Sperle]

I would agree with Thomas on this one, that for most of us this would not be practical. If it is your planned career path, or facilitate real estate transactions is your passion I would say go for it, however not if your goal is to be a real estate investor with the intention of acquiring properties. My take is that if your working for others to acquire properties while hunting yourself, you are more or less in direct competition with your clients so I would question whether your actually working for me, so optically it looks bad. Also the bar for entry in the field is quite low, and good quality ones have been at it for years, or decades because they have focused on growing their network by offering superior service to their clients. I believe to truly be good at something you need to focus on it solely, and not diversify your skills.

 

[Tony Miller]

100% agree with Thomas.
Save yourself the time and money and work with investor focused realtors instead.

 

[Brad Redekopp]

Not sure if it differs from province but you can do couple things without being involved in the process of being licenced.
1. Cost savings for transacting - there are brokerages that list your property on MLS and put a lock box on the door for a flat fee(around $800) You take the calls and deal with the sellers realtor also set buyer commission. Not saying skip the realtor but If you are comfortable with the transaction process why pay someone else to negotiate and sign papers
2. Enhance RE knowledge - there are better courses to take if your looking for investing knowledge
3- first hand access to industry knowledge- access to MLS is your meaning ? Get your realtor buddy to appoint you as a realtor assistant. Don't need courses and get your own username and password for MLS

 

[Tony Miller]

Not sure if it differs from province but you can do couple things without being involved in the process of being licenced.
1. Cost savings for transacting - there are brokerages that list your property on MLS and put a lock box on the door for a flat fee(around $800) You take the calls and deal with the sellers realtor also set buyer commission. Not saying skip the realtor but If you are comfortable with the transaction process why pay someone else to negotiate and sign papers
2. Enhance RE knowledge - there are better courses to take if your looking for investing knowledge
3- first hand access to industry knowledge- access to MLS is your meaning ? Get your realtor buddy to appoint you as a realtor assistant. Don't need courses and get your own username and password for MLS

Yeah that pretty much sums up what full time realtors do

That's poor advice and very shady in my opinion to give a username and password to a buddy. I've had investors ask me to give them my Realtor credentials so they could access our system in exchange for a monthly fee and I said no way. If you want access to the MLS system, go get your own licence. Unfortunately, there are realtors who will agree with you though.

 

[Brad Redekopp]

Yeah that pretty much sums up what full time realtors do

That's poor advice and very shady in my opinion to give a username and password to a buddy. I've had investors ask me to give them my Realtor credentials so they could access our system in exchange for a monthly fee and I said no way. If you want access to the MLS system, go get your own licence. Unfortunately, there are realtors who will agree with you though.

Realtors should be paid for their knowledge and expertise not the ability to access MLS

 

[nrotundo]

I would like to talk to any investors who have done their realtor license. Please leave me a message. [email protected]

 

[Alvaro Sanchez]

Since its an open forum, I would like to provide my two cents:

When I started a some years ago, I also wanted to see if having a RE license including a mortgage broker license would provide some added benefits as investor. I had to parked that idea as once you get a license you need to work under a broker to get the ball rolling. To be included in the broker office, you need to pay your dues (showing homes on weekends and odd hours) and if you just want to work on your deals then I don't think you will get an invitation to join the firm. You can also try to do it part-time but they wont take you seriously. So I parked that idea and moved-on.

There is a lot of properties for sale (residential/commercial) that are not listed or ever be listed. I would suggest that you be better off by learning more about the creative side of real state than getting a license. You will have less competition and you will get to negotiate directly with the seller not only the price but the terms and conditions that benefit both (seller-buyer).

Hello, I'm an active real estate investor and I've always considered getting my real estate license for the following reasons.

1. Cost savings when transacting
2. Enhance RE knowledge
3. First hand access to industry knowledge.

I wondered if any real estate investors also contemplated getting their license and whether it was worth it.