Whether you're a real estate investor or someone looking to work as an agent, there can be several advantages to having a real estate license. Licensing requirements vary by state and may require some minimal investment, but you can obtain your real estate license in a minimal amount of time and begin your investing career or work within the industry.
Real estate investors often assume they don't need a license to be successful. While this is true to a certain extent, an article by Diana Price on real-estate-online.com noted that having a license in real estate can eliminate the middle man in finding many of "bargain buys" on the market. You'll save commission fees and have a better chance of locating the best deals. Price says many real estate agents and brokers may not be willing to point you to the best deals available because they want them for themselves.
Working as an Agent or Broker
You can also use your license to become an agent or a broker. Carlton Sheets, well-known real estate entrepreneur and late-night infomercial personality, says on his website that a real estate license can open up an additional income by qualifying you to complete real estate appraisals. The only exception to this might be in cases where appraisals are needed for a federal loan or on behalf of a federal bank. This can help you earn additional money in between investment deals.
Careers Related to Real Estate
A real estate license can also generate other career opportunities. For instance, a real estate license can open up doors in the mortgage industry, as most states require that mortgage brokers have a real estate license. Having a real estate license could open up many other doors in business-related careers as well. Having a real estate license shows that you are a committed professional who can meet basic career requirements.
Jared Lewis is a professor of history, philosophy and the humanities. He has taught various courses in these fields since 2001. A former licensed financial adviser, he now works as a writer and has published numerous articles on education and business. He holds a bachelor's degree in history, a master's degree in theology and has completed doctoral work in American history.