At TABS, we meet many new investors who frequently have questions about how to get started in real estate investing. A frequent question we receive is “Should I become a Real Estate Agent?”
Our Answer….it depends (I bet you didn’t see that coming)
Here are some pros
automatic access to MLS
access to view properties without scheduling with a real estate agent
saving on paying commissions to a real estate agent
With that, there are some cons
In Colorado, you are required to “hang” your license under someone for a period of 2 years. That company will likely have requirements that they be paid sometimes a monthly fee in addition to a cut of all sales. They will probably also have sales requirements.
You’re new. So you would be learning two new trades rather than relying on the expertise of an experienced real estate agent. An experienced agent can help you navigate a decent deal, can offer up suggestions on what repairs buyers are looking for, can appropriately help price a home. They also have contract and negotiating experience that could be of help.
There is more potential for liability with a license. A license requires insurance, which can create a target if someone is looking to sue
We hope this helps you make your decision.