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Marco Romero has been in real estate ever since reading Rich Dad Poor Dad at an early age. He was actually on Episode 23 of the Podcast (When to set up a company for a real estate investing) and you can find out more about him and his start by checking out that episode.
Marco Romero is a real estate investor and a licensed real estate agent. In this episode, we talk about the pros and cons of getting your real estate license. There is no cut and dry answer to this question as it’s more about your specific situation and goals. We take an in-depth look at all possible scenarios so that you can make an informed decision on which way you want to go.
In this episode we talk about the pros of becoming a real estate agent. Namely, we discussed the fact that you get access to the MLS to find deals and rum comps yourself. We also mentioned how you educate yourself to know the ins and outs of real estate better than many investors do. We also talked about how you can save money by being able to list your properties yourself. You can also land more deals off the MLS by being able to sweeten the deal for REO agents and other listing agents.
We also talked about the cons for getting your real estate license. To me, there were more cons than pros…but I’ll let you be the judge of whether you feel it’s necessary for you. After all, that’s all that matters.
The cons were than you have to pay fees to be an agent. You have to also hang your license with a broker (at least in Texas). You also have to do all the paper work for transactions or hire someone to do it for you. You also have to provide full disclosure that you are an agent to all prospective customers and clients.
As for me, I’m going to continue to operate as a real estate investor without a license. It’s just not necessary. We would rather save time and pay a little more to have our properties listed and not have to deal with showings and paperwork. It’s just worth it to us.
We also generate most of our deals “off-market”. We mainly use our real estate investor website to generate most of the motivated seller leads we get.
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