Benefits Of Getting A Real Estate License
If you are starting, there is a good chance any extra income will be welcomed. Even if you don’t intend to make a career out of being a real estate agent, it can provide you with supplemental income. Additionally, it is a great way to learn the business from another perspective. You can see how real estate agents work and what they need to be successful. All the while, you can work with the contacts you have to make money and learn the investing business at the same time. A real estate license will help supplement your income during that time and you would have regularised yourself.
Access To Deals
One deal every few months is nice, but it is not the primary reason you would get licensed. Getting your license opens doors to deals that you may have never thought of in the first place. Most investors would like to minimise risks and would much rather deal with a registered agent. Positioning yourself strategically means getting all the relevant documentation in place. Instead of waiting on your Realtor to alert you of any new deals, you will be the first point of contact. As soon as a new listing hit the market, you will know about it. You can quickly see properties in locations you like and make an offer by the end of the day. Access to new deals is the primary reason to get your license.
Being a real estate investor and real estate agent can be a delicate balance. Some are sceptical about working with an investor who also wears a Realtor hat. This number is small compared to the number of new contacts that being a Realtor can help you make – not only in your own office but at open houses and local networking functions. You will also broaden your network through the Institute of Estate Agents. One of the benefits of being a real estate agent is the opportunity to develop contacts internally at banks that could give you the inside track for bank-owned properties. You are also open to working with other brokers and agents within your network. In doing so, you can learn through their experience and get tips on saving time on certain tasks. Brokers can warn you about certain legal issues you may face and educate you on contracts. Other agents can also introduce you to reliable real estate professionals such as surveyors, appraisers, and lenders.
No matter how you slice it, having the opportunity to dramatically increase your network is one of the major benefits of a real estate license. The more people you can meet, the greater the chance that you will close more deals. Meeting the right real estate agent or being in the right office can completely change your investing business.
The more you know about the business, the greater the chance of you becoming successful. ZIEA provides that educational background through the short courses that lead to licencing. Almost every investment deal you get involved in will have some contact with a real estate agent. Knowing how the real estate side works will give some insight into structuring a contract and even what to look for in a property. The lessons will open your mind to new ways of marketing and attracting the right customer base.
You will have a better feel for what is really needed to get your deal closed. Even if you have closed a few deals, you may not really understand what goes into an addendum or legally binding in a contract. Being a real estate agent will give you a different perspective: one that can save you time and money down the road.
In addition to making money on the deals, one of the benefits of being a real estate agent is saving commissions on your own personal deals. Did you know that legally you can make commission as a real estate agent? Get the information you need today!