I want to get a real estate salesperson license just to access the MLS system for investment purposes? Could I get sponsored and what are the costs?

Asked by JJM, 08844 Thu Aug 28, 2014

Basically I want to be able to do my own searches and comps based on my criteria and then use an agent to actually buy the property.

I see the investment (in terms of money and time) in getting the license as worth it to be able to use MLS and get a better understanding of the industry. However I don't want to sell properties. Only buy and hold. Would any brokers work with me and what kind of fees could I expect. Especially knowing (for now at least) they would not make any money from me in terms of commission from representing buyers and sellers.

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10
Christine Mi…, Agent, San Diego, CA
Fri Aug 29, 2014
Getting a license is not all you need to access the MLS. You also need to join a local board and pay their quarterly dues, you also need to join a brokerage, or the boards won't allow you access. I doubt a broker will want to take on a licensee that isn't interested in selling. I sure wouldn't.

Most real estate websites, like zillow and trulia are very good search tools. They allow you to search using your criteria. Why bother going through all the hassle of getting a license and joining your local board just to buy a few homes? If you're interested in buying, just hire a realtor. You don't pay their commission, the seller does.
1 vote
does 303 lakeridge rd 76108 lakeside tx home have a view through the sliding glassdoor into the sunroom
Flag Thu Jun 23, 2016
He is the Buyer. The Money comes from the Buyer. That is the biggest lie in the industry. A home is only worth what someone is willing to pay for it. If credit is not extended or cash does not originate from the Buyer, that house is not going to pay the Seller's agent.
Flag Tue May 17, 2016
UHhuh...and who pays the buyer Christine?....It still ends up being money you spend...
Flag Wed Apr 29, 2015
Dorene Slavi…, Agent, Torrance, CA
Thu Aug 28, 2014
You might be able to work something out, but it won't be easy. A good Agent and/or Broker is busy, too busy to spend time running comps without any hope of being paid what they would be paid had they spent that time with a real client.
I don't know about other areas, but in my area, I cannot give you access to my MLS account unless I would like to lose privileges or worse.
If you think you might be in this for the long term, and you have the time and funds to do it, why not go ahead and get your own license and pay all the fees to access the service yourself. This way, you will not be concerned about finding a willing person, or having reliable access to the data.
1 vote
Tim Moore, Agent, Kitty Hawk, NC
Thu Aug 28, 2014
You need to take the license test to get a real estate license first. Then you need to associate with an office that is a Board of Realtors member (most are). Then you need to join the Board and pay an installation fee and the MLS dues each month. Since you will be a Realtor at this point you can write your own contracts or get you office boss, the broker, to help you. You can't just join the Board of Realtors without a license, and the Board owns the MLS systems.
1 vote
Liz Teifer, Agent, Matthews, NC
Thu May 19, 2016
Maybe you could hang you license with a brokerage for referrals only. Then you can have an agent/Realtor from that brokerage set you up on a search gateway for specific properties so you are notified when one matches your criteria. If it is a hit, you can ask for further info, schedule a viewing, and if it is something you want to purchase, you can get a referral fee for purchasing through the brokerage that is hanging your license. You won't necessarily have MLS access but the search gateway will provide you with most preliminary info you need while in the weeding out phase.
There ususally are fees to hang your license with somebody but if you give them referrals throughout the year, maybe the fees are less. I believe there are many different structures out there.
0 votes
does 303 lakeridge rd 76108 lakeside tx home have a view through the sliding glassdoor into the sunroom
Flag Thu Jun 23, 2016
Kennedyappra…, Home Buyer, Hillsborough, NJ
Thu May 12, 2016
Find a good agent to work with you. You will pay the office plenty in your own commission from what you sell on the split anyway. Getting a license is easier than maintaining it in terms of Money. Unless your a licensed contractor or plan to buy and resale more than 1,000,000 in sales per year, you will lose in long term in time spent in further education and dues.
0 votes
Annette Law…, Agent, Palm Harbor, FL
Wed Sep 3, 2014
JJM,
Yes, you can follow your plan and become a licensed agent or other professional, to obtain access to the MLS. However, it is highly unlikely such a plan will prove beneficial to your investment objectives.

Your plan will incur significant cost and impose encumbrances on your investment business that simply will not serve you well.

As you are clearly aware, the real estate industry presents many opportunities to make significant profit. This is a business, not a HOBBY.

This holds true for a BROKER also. Entertaining the idea a broker 'would not make any money from me' suggest you have not come to full awareness this is a business not a hobby.

As a licensed real estate agent, you will be in the food chain of many professional and governing organizations who DO understand, This is a Business, not a HOBBY!

You actually know what you need to do.
You are investing inordinate energy and effort in an effort to circumvent the most beneficial option available to you.
If I encountered a home buyer, exercising such need to circumvent the readily available resources, the 'RED FLAGS' would go up.

To your benefit I willl assume their is more to the story than you have shared.
In answer to your question, the availability and costs will be dependent on the brokerage and the 'OFFER' you present to the broker. In this aspect, there does exist room for negotiation.

If you want to remain an mature in the investing arena, using outdated, incorrect and misrepresented data, use the entertainment resources mentioned by others and exhibit such with your Zulia Guestimate. Some fall for the delusion that 'lots of numbers' equate to actionable information. They would be wrong. If you are serious, you will follow your instincts and pursue the source of timely, comprehensive, correct and responsible data. Subscribe to PROFESSIONAL internet sources, NOT Trulia or Zillow. Your intent reveals you know this already.


Best of success,
Annette Lawrence, Broker/Associate
Remax
Palm Harbor, FL
727.420.4041
727.420.4041
RealEstateMadeEZ.com
0 votes
This can actually be done if you have a broker to work with you and if you do not need to work as a realtor and have another career it can be a hobby many investors do this as a second business and yet still a hobby and I am speaking for myself I couldn't survive as a realtor only and I have done this for years as a investor and it is a HOBBY not my bread and butter however, I deeply respect realtors and the business as a whole.
Flag Sat Feb 11, 2017
does 303 lakeridge rd 76108 lakeside tx home have a view through the sliding glassdoor into the sunroom
Flag Thu Jun 23, 2016
The person was asking for information. There was no reason to respond with such hostility and condescension.
Flag Thu Mar 17, 2016
I agree with Ssnpg072. I am one of those quirky people who did just what your saying not to do. Becoming a realtor takes one month and around $2-3,000. If you're an investor and want to see homes that agents don't want to show because there commission will be small, than it is more beneficial than not. It saves time and the headache of working with one or more reluctant agents. And best of all you buy one or two properties and the license ends up being free because you get paid the commission!
Flag Sun Mar 13, 2016
That was an incredibly rude and condescending reply. It seems to an average Jill like myself that "thou dost protest too much". It almost seems as if what you are asserting is not one hundred percent correct. Just saying....
Flag Tue Mar 8, 2016
Sam Shueh, , San Jose, CA
Tue Sep 2, 2014
The short ans to your wish is below:

Have you heard of Zillow, Trulia or Redfin. Tech savvy home buyers know as much as any realtor even on transaction history. Granted you don't know the combination code and % $ involved. Will you want to join if they offer 1% to buyer broker company?
0 votes
Sam Shueh, , San Jose, CA
Tue Sep 2, 2014
The short ans to your wish is here.

Have you heard of Zillow, Trulia or Redfin.
Tech savvy home buyers know as much as an realtor. Granted you don't know the combination code and % involved. Will you look if they offer 1% to buyer brokerage?
0 votes
Bev West, Agent, Greeley, CO
Thu Aug 28, 2014
There could be a lot of costs involved that would be more of a problem than just working close with an agent in letting them help you.
0 votes
Dallison Vea…, Agent, Springfield, VA
Thu Aug 28, 2014
Your costs are going to depend on the brokerage where you hang your license. There are some discount brokerages that will charge you a low flat monthly fee. You could also work with another agent as a member of their team and the draw for them would be that you would use them as your agent when you buy and sell. You also have to take into consideration the MLS fees, the Realtor Association Fees, Licensing Fees, etc. I would start by talking to a number of local real estate brokerages. Each one is going to have a different fee schedule and they can walk you through the myriad of the other fees/costs you are going to encounter.
0 votes
does 303 lakeridge rd 76108 lakeside tx home have a view through the sliding glassdoor into the sunroom
Flag Thu Jun 23, 2016
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