Today’s economic conditions have unemployment levels that are higher than they’ve been in a lot of years. A lot of people are still unable to find jobs and unemployed. A field that continues to provide a lot of career opportunities is basically real estate. It means that there are millions of dollars in available commissions for real estate deals. However, for you to get such commissions, you need to get a real estate license.
- You Will Gain More Money
Every time investors sell properties through an agent, they spend about up to six percent of the sale price on the agency commissions. Often, it goes amiss that agents pick up another three percent for processing transaction. Thus, investors are losing up to nine percent in profits from the purchase price or complete sale. Having a real estate license can free you from substantial agency fees as you are your own agent.
- You Will Get Access to MLS
The biggest benefit of getting a license is that you will have an access to MLS or Multiple Listing Service as well as a source of comparable sales. With real estate license, you will have independence when borrowing access from the agents, which is often hard. Moreover, instead of waiting for realtor to inform you the newest deals, you will be the first one to know when the new listing shows up on MLS, providing you upper hand in choosing properties in some preferable locations. In addition to that, accessing MLS enables you to run a custom search query. You can also analyze real estate historical data for thorough understanding of the listings. You may also determine particular details including the kind of property and buyers.
- You Will Get More Business Experience
Although you only make 1 or 2 deals in the calendar year and get a lesser income from those, consolation is that you will get a lot of experience once you decide to set up your real estate agency in the long run. If you understand the ways real estate business works, you will gain important insights on the property transactions like detailed property information and contracts. All of these might save you lots of money and time over time.
- Get Full Control over Real Estate Deals
Having a real estate license enables you to make offers and negotiate on the terms without the need for agents. You will also get to the real estate deals directly with property inspectors, lenders, lawyers, and anybody else involved in the process of buying properties on both the selling and buying side. Other than that, in terms of showcasing the finer details of the property, real estate agents will put in same efforts as you. They will not drive long distance for properties showing, follow up with the potential buyers, lay out delicious spread, and show the property’s best view.
While a real estate license might not be necessary for investors, buying properties using it might change the way you carry out your future investments.