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Lethul 1 · Guest

I live in the Dallas area, and am currently saving for my first investment. I have been told that getting a real estate licence, while not required for my type of work, is a worthy investment. Even if I don't take the test for the license, I can see an advantage to having taken the classes.
All I want to do is flip my own properties. So what I was told was since I will be in ownership of my own properties, actually getting the license is not necesary. However, if I could get into the MLS, once again, I see obvious benefiets. This, however, results in another conflict. I am afraid that since I won't be making a specific "commission", it would be kind of hard to strike up a fair agreement with other agents.
So here goes... Any thoughts from real agents? On a professional level, would you suggest it? What kind of money can I expect to invest on this venture? Anybody in the Dallas area know of a school I can talk to?? Any input on this subject is greatly appreciated, and Thanks to all!!!

nemmar · Site Admin

Lethul 1,

I'm not a Realtor but I did take the classes to get a Realtor license many years ago. I did this for the benefit of being able to earn a commission on the investment properties I was buying. So there is a financial benefit to having a real estate license. You won't learn much from classes to get the license though. They're very basic and talk more about the fiduciary responsibility of Realtors and Brokers and how they can't compromise their morals or mislead clients, stuff like that. Perhaps now the classes are more in-depth but I don't think they'll be a big help with knowledge to help you invest in real estate.

If you have real estate license then the listing agent for the MLS property will still earn their commission. The only difference is that you will be the other agent getting the rest of the commission. You'll just have to search the MLS yourself to find good deals unless you want to split your commission with an agent who will look for you for 1/2 their normal commission.

Those are the basics that I know of. You'll have to see if some other visitors to the forum post more details and they know they Dallas area.