Real estate license and it's drawbacks

i have my license in IN and will be giving it up soon. having your license makes you more liable than if you don't have it. it's also very expensive to get and maintain. i'm hearing that even if someone has their license, they use another realtor because it frees up their time to make more deals. some people love having it but i have always felt it was a huge hindrance. just my 2cents.

Linda,

Thanks for your advice, I recently passed the test but have yet to associate myself with a broker because of my interest in doing this and my concern that if I were to work for a broker and made assignment deals or anything else that in would be required to split my profits with that broker. Just my newbie perspective.

Thanks Again

I do not have one but as much of a burden as has been said they are here do to my isolation from REIAs and any other form of assistance it would help . It all depends on your situation. This has been brought up as and in many forum topics. It is just another way of networking and with prudence meet your goals.

I think it may depend on where you are with your business and where you want to go. I've heard both sides of the story. The disadvantage is the extra fees and liability as said earlier.

One Fix N Flipper I met (a self-made millionaire) teaches that you should get your license because when you're looking for deals, you can just call up the listing broker and get the code to see the property. It saves so much time not waiting for someone else to show it to you. Then when you sell, you can list it yourself.

On the other hand....there's people like Dean (another self-made millionaire) who just uses other people that have the skills he needs. I found a great agent that likes to work with investors and he works really hard for his money. I'm not that excited to do all that extra paperwork just for a little more money, especially since I'm still working my full-time job.

I may get my license eventually.....but not right now.

Thanks for all of your advice. At this point I will be and investor and have the real estate license to fall back on if I want to switch gears in the future.

Cheers

I have been investing for 15 years, and have never had a license. I don't want to have to give disclosures or deal with the liability and costs mentioned in posts above.

Any information I need to get from an agent I have immediate access to, because I have an agent I have been working with since the beginning. If I need ANYTHING..... she gets it for me very promptly. Now I have access to MLS, and any other resources I need, but I don't have mandatory continuing ed, fees, mandatory disclosures, tests, and I can deal with FSBO properties without the owners freaking out because they don't want to deal with agents.

Thanks for the advice. Thats along the lines of what I was thinking based not the liability concerns and the added annual expenses.

Regards

Jeff