Do I need a Realtor License? - Posted by Lina

Posted by Lina on April 09, 2007 at 19:25:45:

Thank you Bill. I will try to call some of the real estate brokers and see what they can help.


Do I need a Realtor License? - Posted by Lina

Posted by Lina on April 09, 2007 at 11:48:05:

Hi there,

I am a newbie on the real estate rehab arena and really enjoy reading the articles and emails at this website. I am very impressed by your generosity in sharing information/experiences with others and help each other out. Here is my story and I need your opinion and help.

I?ve been searching for my first rehab property for a while and have no contract signed yet. I?ve been working with a realtor and basically she sends me a list of properties for sale on the MLS with key words like bank owned, motivated sellers, needs TLC etc. After screening those properties, I would tell her the properties I am interested in. Then she would call the listing agents to schedule the appointments. After the property visit, we would sit down together to make that official offer- many pages long. In about 2 weeks, we visited 5 properties and made two offers, one got refused and the other one is still in processing. By the way, the realtor’s husband is my loan officer.

Is there anything wrong in this picture? Actually, I?ve been thinking a way to get the access to the MLS by myself ? realtor license. Does anyone know that once you get the realtor license, do you have to get hired as a real estate agent in order to get the access to the MLS? Any suggestions/comments will be greatly appreciated!

Thanks a lot in advance!


Re: Do I need a Realtor License? - Posted by Bill Jacobsen

Posted by Bill Jacobsen on April 09, 2007 at 12:53:13:

I think there is an advantage to not being a realtor if you are an investor. You can do well with an agent if you have determined the criteria for properties you are willing to buy and have communicated that well.

If you want access to MLS, contact the one(s) you want access to and find out what their requirements are. Some do require you to be an Realtor ( Member of that organization) which in turn requires you to be licensed in your state as a (in our state) broker or principle broker. In some MLS’s you can become an affiliate member if you are in certain other occupations.