All Real Estate 055: Do I Need a Real Estate License?

You do not need a real estate license. Anybody over 18 can sign a contract on a real estate deal. It's just a piece of property just like I'm going to go over here and buy this car. Absolutely. OK. Cars have a bill of sale and properties have deeds. That's it. Same thing in being a real estate agent because I'm the broker for Whitney Buys Houses because I like licenses. If you just like license's then yeah go get it. But a lot of people don't realize the money the investment that it takes to get a real estate license and the overhead that it takes to keep a real estate license in the education all this other stuff and that stuff isn't bad, but what you're going to learn in real estate school is how to protect yourself as a real estate agent. They're going to teach you how many square feet are in an acre. It's like 45000 or something. That's the best thing you're going to learn in two weeks real estate school is how many square feet are in an acre. They'll tell you how many feet are in a mile. You can Google it. I don't even know that. And they're going to teach you how to pass the real estate test to get a license so you can pay more fees and so you can have more insurance just if you want to be a real estate investor. Save that two or three thousand dollars that it would take to get a real estate license and that you know three months of your life filling out forms and getting stuff collected and just go buy a piece of property with that you will learn more hands on in the real estate world as an investor. If your ultimate goal is to be an investor now if you always had hopes and dreams of having your name on a real estate sign that says you know now pending If that's what your whole life is about then get a real estate license and join one of the local teams and knock it out of the park. But if you want to be a landlord or you just want to buy and sell houses or you want to flip houses save that $3000 and three months of your life and spend it on real estate you do not need a real estate license. It does not give you a leg up the connections you make are not going to help you. You might get maybe some pocket listings if somebody in your office has something. But the way I'm going to teach you to find off market properties you're not going to need those pocket listings you're going to see that you're not making enough money on those to even fool with them. So no you do not need a real estate license to be a real estate investor. In fact, at the Knoxville Real Estate Investor Association meetings, the Knox REIA meetings, there's 70 people in the room. And I think about 15 of them have a license to be a real estate professional which is crazy to me because if I was a regular real estate agent and I depended on people who were buying and selling real estate I would be at meetings of people who were wanting to buy and sell real estate. Right. The agents that are there are real estate investors. They just happen to have a real estate license. So it's kind of crazy to me that there's not regular agents there, or more property managers there that are looking for people that have real estate and don't want to deal with it anymore or wholesalers. I think they should all be there. So if you want to be a real estate investor be a real estate investor if you want to learn how to be a real estate investor. I will be glad to teach you.