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Do Investors Need a Real Estate License?
Real estate investors do not need a real estate license to buy and sell a property. However, there are some advantages (and disadvantages) to obtaining one that you may want to look into.
Access to Your Local MLS
When you obtain your real estate license, you are given access to the local multiple listing service (MLS). This can give you a quick insight into good deals on properties without having to go through another medium as other agents do. Additionally, you are privy to a host of information about the listed properties. That makes analyzing your local housing market much easier. You are also able to post homes and rental properties without outside help. Physical access to the properties is made easier as well. Any properties with the appropriate lockbox are available to go see in person if vacant.
Commission
Now that you have your real estate license, you can list yourself as the agent on purchase and sale contracts. This allows you to receive the portion of the commission that gets split between the seller’s agent and the buyer’s agent. This commission usually represents about six percent of the total sale. That is meaning that you will now make approximately three percent more on your properties. And in some cases, you can get the full six percent.
Managing Your Own Deals
Having a real estate license gives you direct access to everyone involved in the listing and buying/selling process. Appraisers, inspectors, attorneys, and lenders are all available to you. This makes it easy to control things such as showings and the marketing of properties -ultimately decreasing the time between each step and making the process much more efficient.
These advantages make the license very enticing for a lot of real estate workers, but some disadvantages come with the license as well.
The License Itself
Obtaining the license itself is a costly endeavor, both in terms of time and money. Depending on the state, classes for the license can take up to 120 hours, which concludes with a very difficult test. Once you obtain the license, you still must pay fees that can amount to thousands of dollars every year to maintain your membership.
Signing With A Broker
After you successfully get your license, you still need to work under a broker. For some people, this loss of autonomy is not worth getting their license, especially because there can be extra fees and responsibilities involved.
Paperwork
Depending on how prolific you are as a real estate agent, you may find yourself spending a lot of time with paperwork. Filing forms with the attorneys, other agents, and brokers are only a few of the possible time sinks that come with licensing. There are people you can pay to do most of this paperwork, but that is just another expense that comes with obtaining your real estate license.
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Brownsburg, Indiana
Located in Hendricks County, Brownsburg, Indiana, is home to over 27,000 residents. Brownsburg was settled by James B. Brown in 1824. This area was a dense wilderness and did not start attracting more settlers until a stagecoach line was established that connected Brownsburg to Indianapolis.
This town was originally named Harrisburg but it was renamed after a settler responsible for selling off sections of the woods to incoming frontiersmen. A post office was established in 1836 under the name Harrisburg but renamed Brownsburg because there was already a post office using the name “Harrisburg” in Indiana. Brownsburg also has a place in cinema history, being the location where the movie “Hoosiers” was shot in 1985.
As a suburb of Indianapolis, Brownsburg now has a variety of things to do. Classic relaxing activities such as golfing at the West Chase Golf Club or White Lick Golf Course are always a good time. You can also travel some of the surrounding trails on bike or horseback, with over 18 miles of trails available for users. Adrenaline seekers can find the experience they desire at Lucas Oil Raceway, one of the premier drag racing courses in the world.
Brownsburg is also home to a few special events throughout the year. Blues in the ‘Burg is a music festival where award-winning artists perform over a two-day event. During the summer, the town hosts the Brownsburg Farmers Market, where local growers and artisans display and sell their wares. And during Halloween, the Trail and Treat event that takes place in Williams Park is a great family event that has trick-or-treating and movie viewings.