If you’ve been considering real estate investing – or even if you already own some rental property – the thought may have crossed your mind as to whether or not you should obtain your real estate license.
The answer here is that it depends. In fact, while it is not a requirement in Florida to have your real estate license as an investor, depending on what your ultimate goals are, doing so could still prove to be beneficial. There are several reasons for this.
First, having your license will provide you with access to the MLS (Multiple Listing Service). And, although there are certainly any number of other ways to obtain information on available properties, having access to the MLS means that you’ll get a myriad of data that other websites like Zillow just simply do not provide.
Also, having your real estate license means that you will be able to make more money by keeping more in your pocket. This is particularly true if you buy and sell property frequently. In this case, on a typical property purchase or sale, the commission is around 6% of the price. If you don’t have to pay that out to another agent, you could find that you’ll net out much more for yourself.
In addition, as your own agent, you can also have more control over your deals. For instance, you can submit offers and negotiate directly with the listing agent(s) on properties that you are interested in purchasing.
As you build up a portfolio of rental properties, though, you may find that the time it takes to manage them will not allow you to focus on other things – like buying more property. If that is the case, working with an experienced property manager could be the solution.
Contact Us for more details on how handing over the day-to-day tasks of property maintenance and tenant management can allow you to continue growing your business exponentially.