For the most part, the answer to the question Should I Get a Real Estate License? Is Yes. But you should first consider the benefits versus added costs and time. Success breeds success and that is what has happened within the real estate investment community over the past eight or nine years. Today, investors (new and experienced alike) are looking for an edge over the competition and that brings up the proverbial question Should I Get a Real Estate License?
Deciding if you should get a real estate license entails understanding that many things need to be accomplished up front. In many ways, it's just like starting any new business. It's easy to underestimate the costs and overestimate the income. You should be working with a broker that already has a website. Instead of creating your own in the beginning, simply post your profile on your broker's website. It's a great way to gain exposure, save time, and save money.
Should I Get a Real Estate License? - Getting Started
Avoid the temptation to drop $1,000 for an advertisement in a glossy magazine. Before you spend a dollar, when pondering the question "should I get a real estate license?, sit down at a computer and write a business plan that is heavy on the marketing section.
For one thing, decide if you are going to help others buy and sell real estate or if your primary motive is facilitating your own investment business. In most states, a real estate license allows you to collect a commission when buying and selling your own investments. However, you do need to be careful not to get yourself into a conflict of interest situation.
If the primary answer to the question "should I get a real estate license?" is gaining full and instant access to the MLS as an investor, you probably don't need too much marketing. However, if you want to attract the commissions that come from working other people's deals, you'll need to market yourself. Instead of that $1,000 glossy ad, start with an inexpensive black and white advertisement in the classifieds.
Should I Get a Real Estate License? - Taking the Full Plunge
Beyond commercial marketing, think about your sphere of influence - all of the people you know. Even those you haven't contacted for a while. Now is the time to make sure they know you said yes to the question "should I get my real estate license?" Ask them to tell everyone they know. There is nothing better than word of mouth advertising.
Deciding to take the full plunge means finding and working with a mentor. Often, your broker is your mentor and hopefully others in your office will help as well. Ask them if you can sit in on listing presentations and tag along to show houses. However, stay in the background. Don't interfere with the sales presentations of others. Instead, stay in the background and wait until the client is gone before asking the many questions that come along with learning to become a real estate agent.
Have you already said yes to the question "should I get my real estate license?" but don't have a broker yet? I can help. I'll be glad to help you on your journey to become a highly successful real estate agent by mentoring you through the process. It doesn't matter what part of the country or Canada you are in. I work with agents all over North America. Call me at 248.394.0767 or send a note to my office at wendypatton.com/contact and I'll help you continue on your journey learning to become a real estate agent.
One of the best things about being a real estate agent is working for yourself instead of having a boss. A broker is much more about having a mentor than it is about having a boss. As a mentor, he or she shows you the ropes and keeps you focused on success. But being self-employed means you still get to set your own work hours, decide what to specialize in, make other career decisions, and much, much more.
By Wendy Patton
For more than 30 years, I've used the Sandwich Lease Options System to earn myself and my students millions of dollars. From my experience, I know there is plenty of room and opportunity in the real estate investment market for everyone wanting to participate and find profitable deals. It's because of that fact and my personal success that I share the Sandwich Lease Option System with others.
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