Posted by Shariyf on February 26, 2004 at 10:34:04:
I LOVE THIS SITE!!! I have a lot of useful information and advice in a very short period of time…this is awesome!!! Thank All of you guys so much!
Real Estate License vs No Real Estate License - Posted by Shariyf
Posted by Shariyf on February 25, 2004 at 15:18:25:
How is everybody doing today? My name is Shariyf and I am an aspiring entrepreneur from Philadelphia. I am thinking about getting my Real Estate License and going to work for a local Weichert Real Estate Broker in my city. I was wondering if this was the proper way to get started in Real Estate Investing. I figured that I would learn a lot from working in the field. But I know there has to be some disadvantages to obtaining a Real Estate License or else everyone would have one. My second option would choose to enroll in one of these Real Estate Investing Courses that I see online (CreOnline) and infomercials for. I would like to know what you guys think. Would acquiring a Real Estate License be beneficial or Detrimental?
Re: Real Estate License vs No Real Estate License - Posted by Carey_PA
Posted by Carey_PA on February 26, 2004 at 22:47:26:
Shariyf,
I’m in PA, the suburbs of Philly actually and I’m an investor and I’m also a Realtor. Actually, I was just in West Philly yesterday because I have a listing there, but anyway…
I don’t think getting your license will hurt you with investing, if anything you have access to the MLS but more importantly you come in contact with more people and actually I’ve been treated much more decent by people interested in getting rid of their home when I tell them I’m a realtor as opposed to back in the day when I just told them I was an investor.
Getting your license is also not going to HELP you per se with your real estate investing career. Most real estate agents out there are completely CLUELESS about investing. They really are…trust me, I’ve met plenty of them.
Where your going to learn about investing is here, investment groups (and the downside to those is sometimes there’s more “newbies” that haven’t done anything than successful investors…at leat that’s the case in the investment group that I use to go to.)
ANyway…if you’re like to chat about investing or getting your license call me on my cell at 610-999-6410.
Good luck.
CAREY
Re: Real Estate License vs No Real Estate License - Posted by jasonrei
Posted by jasonrei on February 26, 2004 at 08:47:22:
I have a license and don’t think it’s hurt me. Access to MLS is nice. It costs $$$ though. I only show my own houses to people. As an agent you really need to dot your i’s on the contracts, but you know, you should do that regardless.
Full disclosure is a must, but then again, I think it is a must whether you have a license or not.
You will learn by taking the state RE courses.
I think the proper way to get started in RE is to get educated, look at lots of houses and situations, & learn from the mistakes of others. Then pull the trigger. You haven’t really done much until you’ve “wasted” your time on dead leads, IMO.
With License Your Hands are tight by the Agency - Posted by PJ
Posted by PJ on February 25, 2004 at 19:50:49:
With License Your Hands are tight by the Agency. You cant write your own purchase agreements and LO agreements with your broker overlooking you. At least that what happened to my Buddy.
Re: Real Estate License vs No Real Estate License - Posted by RichV(FL)
Posted by RichV(FL) on February 25, 2004 at 17:50:12:
Shariyf,
Check out the archives on this site. This topic has been mentioned many times before. I’m sure you will find useful information on the subject.
Regards,
RichV(FL)
Re: Real Estate License vs No Real Estate License - Posted by Jennifer
Posted by Jennifer on February 25, 2004 at 15:56:54:
I wouldn’t say that you’re automatically going to learn alot by working in the field…a few years ago I got my license and went to work for a broker, and I didn’t learn a darn thing. I just wasn’t open-minded or creative enough, I wasn’t ready for investing at that time. It never even occured to me to be an investor then. I quit after a year and almost starving (not literally). Now the world of investing is opening up to me, and I’m in the process of reactivating my RE license, just to have access to the MLS in my area. The fact that you’re here shows that you’re already a step ahead of where I was when I got my license those years ago. I’ve heard it said several times though, Don’t wait until you get your license to start your investing. Hope this helps.
Re: Well, it depends on what you want - Posted by Erich
Posted by Erich on February 25, 2004 at 15:54:10:
The answer depends on what you want. When I was just starting out as an investor, I was aproached by a number of our local real estate brokers that wanted to recruit me. I told them I was not interested in working for money, I wanted money to work for me. An no thanks…
If you are a realitor, you are bound to your word to be a professional. That would me no low ball offers from motivated sellers, no creative stuff that might get your brokers eyebrows raised.
If you are a realitor, you will be spending your entire weeks competing with all the other realitors of clients and listings. You will also be tied to a cell phone.
In short, being a realitor will be very confining to a creative entrepenur.
My advice is to find a creative course and order it. Buy a bunch of courses and read them all. Go to lots of seminars and read every thing you can get your hands on.
That is what I did. Now I am retired, live in a beautiful home in the best location in the country. You can do it too.
Re: Real Estate License vs No Real Estate License - Posted by Paul -Maine
Posted by Paul -Maine on February 25, 2004 at 15:42:55:
Well, Donald Trump is a broker so I think its not a bad idea. I am also a Realtor and just getting started in REI. I see a lot of benefits, mainly contacts and MLS access. Good Luck.
Re: Real Estate License vs No Real Estate License - Posted by Shariyf
Posted by Shariyf on February 25, 2004 at 15:47:11:
Thank you…i didnt know that he was a broker. Thats fantastic, I know what I am going to do now.
Re: Real Estate License vs No Real Estate License - Posted by Dave
Posted by Dave on February 25, 2004 at 18:09:59:
Personally I started in Real Estate investing as a license holder. I was able to make over 100K in my first year and that was back in 1983 when 100K was a very nice income. After a few years I started in my investing career. Buying abandoned and boarded homes in Oakland, California. You can make a very good living, both as an investor and a broker, as I am today.
Real estate license will increase your income and earning commission is typically important for investments in Real estate…