I’ve had my Florida Real Estate License since 1998, which is the same year Dan and I started in the wholesaling business. I was so hungry to learn everything that I could about the business that I thought having a license would benefit me. I really didn’t know which direction I was going to take, I just knew that real estate was fascinating, and that I wanted to learn all that I could. So I took the Pre-Licensing course and got my license. I hung my license with Watson Realty Corporation, which is one of the largest firms in the city of Jacksonville. I chose them because they had “Success School” training, which I thought I needed. (I didn’t realize that Realtors were not very creative thinkers, and that they lived inside a tiny little square box until I started co-mingling with the other agents in my office).
The longer I’m licensed, the more I realize the Pros and Cons to even having this thing. As with anything we deal with in our life, it’s not all peaches and cream. You have to weigh the differences and make a decision based on your tolerance for the negatives.
So here’s my Top 10 Lists. First I’ll do the Top 10 reasons you should have a license as a real estate investors. We’ll start with the negatives.
Top 6 Reasons to NOT have a real estate license as a real estate investor:
(In no particular order)
#6 – The Annual Fees – probably the biggest complaint I hear, but it’s really the one that matters the least.
#5 – Disclosing the fact that you’re licensed
#4 – Continuing Education
#3 – Brokers that require “caravan” and “floor duty”
#2 – All of The Political and Bureaucratic Bullshit that comes with it.
#1 – Idiot Realtors.
Top 7 Reasons you SHOULD have a real estate license as a real estate investor:
(In no particular order)
#7 – Access to the MLS for Comps and Market Data
#6 – Ability to Find your Own Deals (REO’s, motivated sellers, etc)
#5 – Ability to List Your Own Deals (contracts, rehabs)
#4 – You won’t be ignorant to the laws of your state.
#3- You can fill income gaps with Realtor activity income
#2 – You can refer leads for a referral fee
#1 – Eventually become a broker and open your own office (for the ambitious only).
So there you have it. Of course, these are only my opinion. You may hear different things from different people, but I think this is an excellent display of the top reasons to have or not have a license if you’re a real estate investor.
Here’s the video (says the same thing as ABOVE ^^^^)