Now that we know the pros to having your license when it comes to investing… let’s discuss some
cons.
Hi, I am Sherri Echols, Broker Associate with RE/MAX Bryan – College Station. First of all, the cost to get your license in Texas and start working is
around $3,000. Classes run about $525, you have to pay for a background test, get fingerprinted and apply with the Texas Real Estate Commission. Then you have to pay for and pass the test and get signed up and pay for the MLS fees and join the National Association of Realtors which also is a fee.
Next is picking a brokerage and paying their monthly fee. Plus cards, signs, marketing materials, lock boxes and more. As you can see, it’s quite an investment.
Another con is that just because you passed the test doesn’t mean you have the skills to do the job. The state test is
largely legal information and doesn’t give you real world working knowledge of the industry.
It will take a couple of years and multiple deals before you feel confident going solo. You also have to budget out of pocket expenses for everything you need for your business. Marketing, signs, key-boxes, print material, CRM, Back office software, websites,
and the list goes on and on.
Everything you do regarding your real estate practice is out of your pocket.
In the grand scheme, most investors are better off sticking to one or the other and finding a good, qualified real estate agent they can add to their team of professionals.
That’s our area of expertise and
we are glad to put it to work for our investors. Our goal is to help our clients find investments to grow their real estate portfolio long term or flip homes on the short.
I’m your Community Market Leader Sherri Echols, a helping hand for a happy home. Thank you for following this two part series!
