Pros and Cons of Getting a Real Estate License

Depending on the state, getting a real estate license is not free. You will need to take a test, pay an application fee, and find a broker. After passing the test, you will have to work under the supervision of a broker for two years and complete a set number of transactions. However, the benefits far outweigh the disadvantages, and it may be worth the investment.

Having a real estate license will open many doors. If you are looking to rent out property, you can use your license to connect with tenants and landlords. Your license will also give you access to new listings and deals. Be prepared to spend a lot of time studying. There are also ongoing costs for maintaining your license. You will need to pay for your license and membership fees in the Association of Realtors, state fees, and brokerage fees. You will need to spend several thousand dollars for the license.

One major pro to getting a real estate license is earning money. It is not a career that will make you rich overnight, but you will have control over the deals that you negotiate. Working with clients and brokers will teach you specific knowledge about the real estate industry. You’ll be able to tell them about properties that are close to schools or that have flood issues. These benefits make getting a real estate license well worth the investment.