So, you might know that to maintain your Realtor’s license, you are required to attend a certain number of continuing education classes. I was in one recently and it got me thinking about a question I get asked by my students and clients time and time again:
“I’m an investor, why should I also be a licensed Realtor?”
I’ve talked about this before, but it keeps popping back up in conversation, so I think it’s worth another go…
See, I firmly believe the benefits of holding your license far outweigh those of not having your license.
I think it helps you more than it hurts you.
There’s always been potential problems brewing around whether investors are guilty of buying and selling real estate without a license.
While it is true that you can’t broker real estate without a license…
As an investor, though, when you advertise the contract not the house, and you have the intent and means (read: $) to close the deal—that’s not illegal. It’s not brokering without a license.
But here’s the rub…
You try arguing that in front of your state’s Real Estate Commission and see how that goes for ya. That’s not investor-friendly territory. :-/
Bottom line—I believe that being licensed actually protects you. That alone is why you should be licensed.
But, as an investor who’s also licensed, you also get:
- access to the MLS (read: access to better info.)
- more credibility
And, being licensed means you’re held to a higher standard and more accountable—but I don’t see anything wrong with that. I see those as more benefits—to keep everything transparent and on the up and up.
I have my license with Keller Williams. I still do deals as an investor and deals as a Realtor, representing myself.
My advice: Get licensed.