Real Estate People…how Much Does It Cost To Become A Real Estate Agent So I Can Buy A Home For Super Cheap.?
Basically I know that real estate agents get homes at big discounts at housing auctions/foreclosures/wholesale due to their license. I was wondering could I get into real estate and get the necessary license I need to purchase homes at these discounted prices? And if so, how much would it cost me to get this license..i know there will be tests involved and etc. Im really looking for an answer fro ma professional in real estate.
Ok…you do NOT need to be an agent to get property cheap. I don’t know who told you that or where you got that information…but it is WRONG.
You also do NOT need to be an agent to sell real estate…at least not in my state (Ohio). Check your local real estate laws that would affect you before you go and spend money on something you probably do not need.
never get a license, use option contracts as your listings. You do not have to follow any laws or ethics. More money to be made will less government regulation
Get the license but don’t waste time trying to sell right now. You can invest in RE without a license.
Wow – what a question – Basically, to become a real estate agent you have to take an approved pre-license course, pass that, then take the State exam – at least in Illinois. It is not as easy as you think – there is a lot that you learn by practicing – you get your license armed with book knowledge, but not a lot of practical knowledge. That being said, we don’t get discounts due to our licenses at all. What happens is that the selling agent gets a commission from the auction or sale or whatever – if you would deduct that from the sale price, I guess it would look like a discount, but there is way more to it – I don’t see why anyone would want to get this license (tuition costs, state fees, joining a brokerage, continuing ed) just to buy one house – why not find a real estate agent you like to work with, and go from there – if you do decide to pursue it, good luck to you!
You’re going to spend 10k to get back 4-5k. It’s not a sound business plan IMO, but to each his own.
the cost of getting licensed in real estate varies from state to state. The cost in general is not very high and there are schools certified by each state to give classes on line , in class or correspondence. Check with your state licensing division for details.
as far as purchasing homes I dont know of any big discounts agents get in purchasing.Like any member of the public they have the same opportunities to buy and sell property
Generally, you can deduct your commission from the purchase price as a licensed agent. However, at times some sellers will not allow it and you have to pay tax on your commission.
As an investor, not having a license might be an advantage, due to licensing rules, laws and regulations.
Different states have different laws about when you are required to have a license. It usually is determined by the number of transactions that are made within a year.
Check with your states real estate regulating agency what the requirement for licensing are.
If I were in your shoes, I’d bypass the licensing, unless you really want to persue helping buyers and sellers.
agents do not get discounts on purchasing homes
I have never heard of getting a discount for being a realtor. Sure, you can save on commission if you are the listing or selling realtor but that is not getting a home for super cheap by any means.
Getting licensed will help you understand how financing works and hopefully convince a broker to bring you in and teach you how it all works. Good job in taking the initiative. I got my brokers license on http://www.realestatelicense.com. For about $400 you can get licensed in most states. It will take about two-three months until you’re officailly licensed. Good luck!
Your wasting time and money. If you want to buy without a realtors assistance than by a FISBO (For Sale By Owner).