Is it Worth Getting a Real Estate License Just to Hold On To?
First, you should get your license. Getting a real estate license entitles you to access the MLS, a massive database of properties available for sale. You can use this database to find great real estate deals. However, it’s important to remember that you’ll need to disclose several things and have a lot of responsibilities. Even if you don’t plan on using this database as a primary source of real estate deals, you can still get a lot of value out of the transaction.
Another thing to consider is how long you’ll need to keep your license. While some states only require you to hold a license for one year, others require you to hold it for life. For that reason, it is important to check the requirements in your state before applying for a license. You’ll need to renew it annually, and in some cases, even multiple times a year. It’s also important to know if you’ll be relocating frequently.
Another benefit of having a real estate license is that it opens doors to more opportunities. Having contacts in the industry is invaluable when it comes to getting new deals. The more you network, the more likely you are to close a deal. Having a relationship with a real estate agent who knows exactly what you’re looking for can change your investing career completely. You can also make money by being a real estate agent in the right office.
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