Getting a real estate license comes with some advantages and disadvantages, and is not for everyone. In addition to the high cost of the license itself, you must invest considerable time and money in the process. You will have to attend classes, complete exams, fill out paperwork, and pay fees to the state board. You may also need to pay continuing education credits to maintain your license, and you may also have to pay yearly fees to your broker or association.
Obtaining a real estate license also opens up doors to new deals. The first point of contact for a potential buyer or seller is a person with a license. In addition to avoiding the high costs of commissions, having your own license allows you to work independently. Many investors also want to cut down on commission costs, which can be quite unpleasant. Alternatively, you can get into the house flipping business, which is more lucrative.
Despite the many disadvantages, it may be worth the time to obtain a real estate license. According to the National Association of Realtors, the number of Realtors has been growing for the past six years. This could mean an opportunity for people who have a passion for real estate. However, there are also pros and cons that you should consider before making the final decision. You should consider what you hope to achieve with your license before deciding whether getting your license is the best move for you.