real estate license, necessary or drawback? - Posted by L(NYC)

Posted by Chenel Moore_MD on April 27, 2000 at 16:25:29:


I have my license in MD. To make a long story short, I got my license in MD in July. The course was difficult (only 2 out of 30 passed the course) and the exam was much easier. Once you obtain your license you must affiliate with a broker (you will hold a license as an agent) in order to use your license.

You can set up MLS on your own computer and access listings from home. On all offers you make you must disclose that you are an agent. There are drawbacks to going that route. Number one it is time consuming and expensive. Number two you must make an agreement with a broker about how much time you are willing to committ to working.

I am now in the process of obtaining my license in NY. It’s a pain, but we are moving from MD to NY and now we have to set up shop.

real estate license, necessary or drawback? - Posted by L(NYC)

Posted by L(NYC) on April 27, 2000 at 12:16:54:


I have been trying to keep my self up to date on my studies and my networking, my next point of interest is whether or not getting my real estate license will be beneficial, I had read somewhere one time that it might be a drawback since some people dont want to deal with brokers.
If anyone here is a broker or has recently taken the test can you let me know, about its difficulty? after passing the test do you need to be sponsored by a realty company; such as within stock brokers. Also, once you pass the test can you just set yourself up with the MLS software in your home and still work as a REI but with the inside track. Doers becoming a realtor qualify you as a dealer, and does this then not shiled you with taxes as well as just being set up as , say a corporation. I know Im asking alot but given the opportunity I would appreciate the time to pick some peoples brains, thanks in advance.

Re: real estate license, necessary or drawback? - Posted by Tom (GA)

Posted by Tom (GA) on May 02, 2000 at 13:03:59:

Having been an agent, I think the potential legal pitfalls are not worth what few benefits that there may be.

Re: real estate license, necessary or drawback? - Posted by Paris

Posted by Paris on April 27, 2000 at 21:38:08:

In the state I reside you must devulge that you are a real estate agent when buying a home. That is why I let my license lapse as I got tired of “devulging”. My personal feeling was that people thought you were “out to get them” if you had to devulge that, yet being an investor I feel more like the person taking from them. Oh well, as long as they don’t try and analyse this part of my job, I’m content with being “just an investor”. Good Luck in whichever road you choose.