If you’re a real estate investor, then you know that there are always more ways to learn and earn.
Real estate investors are serious business owners who need to be creative.
As a real estate investor, you are already doing many tasks to run your business. These tasks include management, marketing, communication, and analyzing deals, making real estate investors extremely versatile in their business skillsets.
There are 2 main types of entrepreneurs in real estate. The agent and the investor.
As an agent, you take on clients, sell houses, and earn a commission as the “middle man” between transactions to build a sizeable income.
As an investor, you are risking your money and your time, expending enormous amounts of effort, taking on massive stress to purchase, renovate, then control real estate assets so that you can build a residual income driven lifestyle that will allow you to have both time and money for the rest of your days.
It’s easy to understand why some investors dislike, or even look down on agents. But, as a real estate entrepreneur, it is still wise to at least consider getting your real estate license and becoming “one of them”.
From earning more money, to data access, to even new business opportunities, here are our top 9 reasons for why real estate investors should get their real estate license.
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9 reasons for why real estate investors should get their real estate license.
1. You’ll make more money
2. You’ll have access to new and valuable data
3. You can build a referral network of agents
4. You can build relationships with other entrepreneurs looking for real estate assets – like investors and developers
5. Leverage your broker to find deals for you
6. You can use it as a stepping stone to start your own real estate brokerage
7. Retain your retail leads
8. Become a Trusted Professional in Your Community
9. Access to New Business Opportunities
1. You’ll make more money
Making more money is the number 1 reason why real estate investors should get their real estate license!
As a real estate investor, you can make more money if you have a real estate license.
That’s because you can list your own deals and earn the commission from them. This way, you don’t have to go through someone else to sell your property.
If you are an investor, you have probably sold a property or two in your portfolio, even if you are not a real estate flipper and prefer to buy and hold. When you dispose of a property, you typically need the help of an agent to list it for you on the MLS and must pay them a commission for their efforts.
As a licensed investor, you can use your own license to list your own deals, including flips, disposing of underperforming properties, or personal residences that you own. This way you can save yourself money by not having to pay a listing agent or earn a referral on the agent’s commission since you are also licensed.
In addition, you can also represent buyers and sellers as an agent. This means that you can represent yourself as an agent when buying a property that is listed on the MLS. When you do this, you can actually make the buyer agent side of the commission and use that money to negotiate better terms on your investments or even put it towards the payment of the purchase.
2. You’ll have access to new and valuable data
As a real estate investor, you know that staying ahead of the trends is essential to your success.
You also know that having access to new and valuable data is one of the best ways to stay ahead of the trends.
That’s why it’s so important for investors to get their real estate licenses.
With a real estate license, you have access to new and valuable data that can help you understand market trends better and get access to more deals faster.
Let’s take a closer look at some of the benefits of having access to new data as an investor.
MLS – The MLS or Multiple Listing Service is a database of all homes for sale in a particular area. It is used by agents to find homes to show their clients and by investors to find properties to buy. The MLS is a great source of data for investors because it includes information on recent sales, pending sales, and current listings.
RPR – The RPR or Realtor Property Resource is a database that is exclusive to Realtors. It contains more information on properties than the MLS, such as zoning and deed restrictions, and gives users an all-encompassing look at market data and trends.
Network of Realtors – One of the best things about being licensed as an investor is that you will have more opportunities to network with other real estate agents who can help bring you deals or let you know of sellers who are looking to get rid of their property soon.
Access to data and networks are a great reason why real estate investors should get their real estate license.
3. You can build a referral network of agents
As an investor who is licensed, you have the ability to build a powerful referral network of agents.
This is because licensed investors are seen as professionals in the industry and are more likely to be referred business by agents.
In fact, you are only allowed to give and receive referrals to real estate agents if you are also a licensed agent.
Most real estate agents only want to list homes that are “market ready” meaning that they are in good condition and can be sold “as-is” so that they can sell it at a higher price and make more money. This means that if a seller had a run-down property that needs work (perfect for investors), they typically will not want to list it and will want to refer the lead to an investor like yourself who wants to buy that property with cash.
When you have a strong referral network, you can quickly get access to more deals and increase your chances of making money as an investor.
How do you go about building a referral network of agents?
Here are a few tips:
1. Attend real estate investor meetings and events. Get to know the agents in attendance and let them know what you do. Exchange business cards and stay in touch.
2. Join an online forum or group for real estate investors and connect with agents who are active in the group.
3. Get involved with your local Realtor association. Attend meetings and events and get to know the agents in attendance.
4. Become a real estate coach or teacher. When you become an authority in the industry, agents will be more likely to want to connect with you and do business with you.
On top of having other realtors refer deals to you, you can also make money the other way around by referring retail seller leads to them and receiving 25% of their commission for simply referring them to the client!
Also, by being licensed and legally able to receive referrals on real estate transactions, you can now earn referrals for transactions that are being done in other states as well.
This means that if you know someone who is either looking to buy or sell real estate in another state or region, you can refer them to an agent in their area and earn 25% of the commission on that transaction!
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4. You can build relationships with other entrepreneurs looking for real estate assets
Investors who are licensed have the opportunity to build relationships with other entrepreneurs in the real estate industry.
Some of these relationships include developers, syndicators, title companies, appraisers, and lenders.
When you have a strong network of professionals, you can quickly get access to more deals and increase your chances of making money as an investor.
Access to a wider network allows the real estate investor to pursue other opportunities to grow their real estate investing business such as expanding their portfolio to the commercial space from only residential properties or even investing in land for development or redevelopment.
Building relationships with other entrepreneurs as licensed agents allows real estate investors to expand their business horizons, especially if they want to use their licenses to invest in or partner on commercial or development projects.
5. Leverage your broker to find deals for you
Another great reasonwhy real estate investors should get their real estate license is so that they can get access to more deals.
When you have a real estate license, you can leverage your broker to find deals for you.
Your broker is someone who has a lot of experience and knowledge in the industry and can help connect you with potential sellers or leads.
Brokers also have access to a lot of databases and resources that investors can use to find deals.
When you have a broker on your side, you can quickly get access to more deals and increase your chances of making money as an investor.
Here are a few tips on how to work with your broker:
1. Make sure that you are in constant communication with your broker. Let them know what type of properties you are interested in and what your buying criteria is.
2. Ask your broker to send you a list of potential leads on a weekly or monthly basis.
3. Meet with your broker regularly to go over potential deals and to get their feedback on your investing strategy.
4. Stay up-to-date with the latest industry news so that you can discuss current trends with your broker.
6. You can use it as a stepping stone to start your own real estate brokerage
Real estate investors are serious business owners who are always looking for more ways to grow their income
Some real estate investors may want to run their own brokerage as a second source of income. This can be a very lucrative business venture, but it does require a lot of hard work and dedication.
As a licensed agent, you have the opportunity to learn the sales side of the business in real estate so that you can decide whether or not you want to open your own brokerage firm and earn income from your team of agents.
This is a strategy that a lot of real estate investors use to capitalize on any “retail” leads that they get in their pipeline that they do not want to buy themselves but can give to an agent on their team or brokerage to sell for a commission.
Here are a few tips on how to start your own brokerage:
1. Make sure that you have the right team in place. You need to have a good support system in order to be successful.
2. Get organized and develop a business plan. This will help you stay focused and achieve your goals.
3. Market your brokerage aggressively. Use all of the resources at your disposal to get the word out there.
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7. Retain your retail leads
A licensed real estate investor can in theory make money on every motivated seller lead in their pipeline.
As a real estate investor, you now have the opportunity to offer more services to sellers than simply buying their home for cash.
You can now list the property for the seller and act as their agent. This gives the seller the benefit of being able to choose whether to sell their home quickly for a cash offer that you provide them or to list it for a higher price with you as their agent on the MLS.
The real estate investor can also offer other services such as finding a new home for the seller, negotiating with buyers, and handling all of the closing costs.
This can be a very lucrative business venture for the real estate investor and can help them build more relationships with sellers.
Here are a few tips on how to offer more services to sellers:
1. Make sure that you are in constant communication with the seller. Let them know what services you can offer them and explain the process in detail.
2. Ask the seller to sign a listing agreement so that they are officially represented by you if they choose to sell on the MLS.
3. Set up an appointment with the seller to go over their options and answer any questions they may have.
4. Negotiate a commission with the seller. Most sellers will be happy to pay a commission if they are able to sell their home quickly for a good price.
5. Follow through on your promises and make sure that you deliver what you have promised. This will help you build trust with the seller and keep them as a client for future deals.
As a licensed investor, you are now able to present yourself in a much better way as a professional and advisor in the real estate market, rather than some “hustler” who just wants to lowball a seller for their house.
Having the additional credibility with clients is a fantastic reason forwhy real estate investors should get their real estate license.
8. Become a Trusted Professional in Your Community
Licensed investors have way more credibility in their market than investors who are not licensed. This is because licensed investors have taken the time and effort to learn about the real estate industry and how to invest properly.
Investors who are not licensed may be able to make a quick buck by buying a property for cheap, but they will never be able to create the same level of success as a licensed investor.
Licensing shows that you are serious about your business and that you are willing to put in the time and effort to learn about the industry.
It also helps build trust with potential clients and partners, as they now know that you are a professional who knows what they are doing.
One of the best ways to build a successful business is to get involved in your local community. This allows you to meet other professionals in the industry, learn from their experiences, and create partnerships with them.
It also allows you to build a name for yourself and become known as a trusted professional in your market.
Here are a few tips on how to become involved in your local community:
1. Join your local real estate investor association. This will allow you to meet other investors in your area, learn from their experiences, and network with them.
2. Get involved in your local Chamber of Commerce. This will allow you to meet other business professionals in your area and create partnerships with them.
3. Get a booth at your local real estate investor expo. This will allow you to meet other investors, agents, and professionals in the industry and learn from their experiences.
4. Speak at local real estate investor clubs and meetings. This will allow you to share your experiences with other investors and learn from their experiences.
5. Become involved in your local community. This will allow you to meet other professionals in the industry, learn from their experiences, and create partnerships with them.
The more involved you are in your local community, the more successful you will be as a licensed real estate investor.
9. Access to New Business Opportunities
As a licensed real estate investor, you now have access to a number of new business opportunities that were not available to you before.
Real estate is a changing industry that has seen more changes and innovations in the past few years than ever before.
Technology has been revolutionizing the real estate space, changing the way that real estate agents and entrepreneurs are compensated around the world, allowing real estate professionals to tap into new markets and opportunities like never before.
As a real estate investor, you probably operate in a highly local market, unable to tap into your national or global connections as much as you would like to generate more income.
By becoming licensed and being a real estate agent, you are able to partner your business with global real estate tech powerhouses with access to a wide network of real estate entrepreneurs to tap into the skillsets, influence, and following that you have built as a successful entrepreneur in your local market and capitalize on those traits through creating more income.
If you want to grow your business on a global scale to reach a wider market share to grow your income and influence, getting your real estate license can be a gateway for you to access that opportunity as an investor.
Ready to get Your Real Estate License and Make it Official?
Real estate investors should get their real estate license to increase their earning potential, expand their business opportunities and build trust in the industry.
If you are going to be in the business long-term, then get licensed and make it official.
Not only will you be able to present yourself as a trusted professional to your clients and partners, but you will also have more options in your business and capitalize on more streams of income.
After all, as a real estate investor, aren’t you looking to make more money faster so that you can build the lifestyle of your dreams?
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