What does having a real estate license do for you? Depending upon who you are, it can be the key difference-maker in your professional career. Professional real estate credentials will make you an agent or a broker, someone who has taken a pledge to honor a code of ethics and standards within an important industry everyone knows and respects. Beyond the credibility it confers upon you, having a real estate license can provide you with a wealth of other tangible and intangible benefits.
The Multiple Listing Service
Chief among the many advantages real estate agents have over the general public is access to extremely good information. This information comes in the form of the multiple listing service (MLS), an array of services and data streams that empower real estate brokers and agents to close deals. As a licensed real estate agent, your access to the MLS system makes you instantly aware of every home and parcel of land on the market wherever it may be in. Brokers and agents make fifty percent or more of their income simply by listing properties on the MLS system. Agents can earn a commission when other agents and brokers show and sell their listed properties.
Earning Commissions on Properties You Buy or Sell
Depending upon your arrangement with the brokerage you work for, you may be able to earn a commission on homes and other real estate parcels that you personally buy, list or sell. Property prices being what they are, there is no other industry that can offer you such a lucrative opportunity.
Investor Control of Property Deals
Real estate investors possessing agent credentials have full control over their deals. They can submit offers and negotiate directly with listing agents and sellers who act without the assistance of a broker. Having a license will give you the power to speak directly to lenders, appraisers, home inspectors, home builder, loan processors, title agents, closing agents and most other parties involved in a property deal. If you are an active real estate investor, there is nothing that you can do for yourself that will enhance your power and leverage more than having a real estate license.
As an agent, you can closely watch your neighborhood to spot new property opportunities as they arise. Also, the network of connections that you will build and develop along the way will serve you very well. Indeed, you will quickly come to know who the best professionals in your industry are. Having access to the MLS will empower you by giving you access to extremely valuable historical data. Finally, what you will learn in real estate school will stay with you throughout your career. Your experience will enable you to grasp the most creative investing and financing ideas used today. Your training will provide you with a solid foundation on which to build no matter what you choose to do for a living.