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ErikOk

RE License

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What thoughts do you all have about getting a real estate license & still offering lease options as part of your "toolbox"?

 

I was thinking that in addition to getting a commission on traditional deals, you could also collect a 3% "commission" upfront instead of an assignment.

 

I'm interested in the reasons why you choose to have a license or not.

 

Thanks

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Erik, back when I started I thought about going the Agent route, but decided against it. I never was the suit-tie-office kind of guy. So for me it was the right decision. On the other hand, for those who can put up with the office politics and BS, it could be very beneficial to be licensed. MLS access comes to mind, and for someone brand new to this business, working in a real estate office could prove to be a great learning experience.

So it comes down to the individual to determine the pros and cons.

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I've never worked in an office, so when I was asked to speak at an agency a few years ago, it was kind of cool. There's an energy around you of 'things getting done' that doesn't really exist in your home office.

 

If you did go that route I think it would be very easy to position yourself as the go-to guy for whatever type of deal you want. LP, sub2, wholesale etc. just talk to everyone and make sure they know to contact you when they come across a seller that meets certain criteria. As a fellow agent if you make it clear that you are NOT competing against them, they'd probably warm up to working with you a lot faster than if you approached them from 'outside' as an investor.

 

Of course this all depends on how understanding your broker is!

 

I personally decided against getting my license because of the bureaucracy.

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