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Old 10-17-2007, 10:29 PM
gaf79 gaf79 is offline
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Default thinking about getting my real estate licence

Ive been considering getting my real estate licence, it would be nice to save the fees and not have to pay a realtor. Have any of you gotten your licence? Is it hard to get?
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Old 10-17-2007, 10:41 PM
scottrei scottrei is offline
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alot of people when they first get interested in real estate investing want to get ther license, but they dont realize that many time it can make investing more difficult. Once you have your real estate license there are alot of disclosure laws and rules that you have to abide by and sometime this can make things more difficult for you.
If you find a house you would like to purchase now you legally have to tell the owner that you are an investor and this might not sit well with the owners in many cases.
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Old 10-26-2007, 02:44 AM
Phoenix Real Estate Guy Phoenix Real Estate Guy is offline
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Quote:
Originally Posted by gaf79 View Post
Ive been considering getting my real estate licence, it would be nice to save the fees and not have to pay a realtor. Have any of you gotten your licence? Is it hard to get?
Getting a license is not that difficult. Requirements vary by state. Many Realtors (myself included) think it's far too easy to get a license. It is typically some amount of classes, plus passing state and national exams.

What many people fail to realize is that in every state that I am aware of, a real estate licensee has to "hang their license" with a real estate broker. And rest assured, that broker is going to want something. You can't get get licensed and expect to pocket all of the buyer-side commissions. Many brokers expect a "split" from a new licensee, some up to 50% of the commission. There are so-called "100%" offices, but they will extract desk fees, E&O insurance and more.

In addition, it is likely that you will have to pay fees for association memberships, MLS fees, lockbox fees and more.

Also, as was mentioned, as a real estate license holder, there are additional disclosures that must be made. If you think people don't like selling to investors, see how much they like selling to a Realtor...
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