OFF TOPIC: Getting a real estate license so I can access the MLS?

[Ligament]

I believe one or two of you have somehow gotten a real estate license so you can access the MLS. Can anybody advise me on how you do this? Courses? Exam? How to access MLS?

---

Members don't see this ad.

 

[hyperalgesia]

So, in my area anyway, the correct terminology for this is "real estate salesperson license".

A few years ago, I paid for a local course that had online lectures and question books. I think it's easy for us to pass the exam. I believe you would then have to get a license and "hang" it with a broker, in order for it to be an active license. Then you get MLS access.

I bailed when I found some websites with huge amounts of info. This one has the property history: 1306 E Remington Ct, Seattle, WA 98122 - 8 beds/3 baths

The only thing I believe is missing on some of these websites is broker comments.

I just don't think it's worth it unless you want to be a real estate salesperson. Most property developers don't have salesperson license. Builders don't.

 

[drusso]

Real estate is a great side gig for physicians...even better for physician spouses. Tax right off's are incredible. I'm trying to convince my wife to get out of the behavioral health biz and get into real estate!

 

[cowboydoc]

So, in my area anyway, the correct terminology for this is "real estate salesperson license".

A few years ago, I paid for a local course that had online lectures and question books. I think it's easy for us to pass the exam. I believe you would then have to get a license and "hang" it with a broker, in order for it to be an active license. Then you get MLS access.

I bailed when I found some websites with huge amounts of info. This one has the property history: 1306 E Remington Ct, Seattle, WA 98122 - 8 beds/3 baths

The only thing I believe is missing on some of these websites is broker comments.

I just don't think it's worth it unless you want to be a real estate salesperson. Most property developers don't have salesperson license. Builders don't.

Maybe it’s different there, but I see most developers are or have close relationships with brokers. Builders often have tight relationships with one or a few realtors.

MLS access is less valuable than it once was with other online resources as suggested.

Unless you’re in high end residential or large commercial transactions, the tax advantages are probably much better than the actual income with this angle. For reference, I live in a relatively low COL area, and there are ~3000 licensed realtors. A few (top 1-2%) make more than me, but the average income is ~10% of my income. (For brokers and developers, the sky is the limit.) You have to be a hustler and have great connections to be at the top of this heap on the sales side. It’s not a typical physician side hustle.

@Ligament I’ve said before my bro and sis in-law have a brokerage/development firm near you. I could get you in contact if you’re really serious about this, but IMO the grass isn’t greener.

 

[Ligament]

So, in my area anyway, the correct terminology for this is "real estate salesperson license".

A few years ago, I paid for a local course that had online lectures and question books. I think it's easy for us to pass the exam. I believe you would then have to get a license and "hang" it with a broker, in order for it to be an active license. Then you get MLS access.

I bailed when I found some websites with huge amounts of info. This one has the property history: 1306 E Remington Ct, Seattle, WA 98122 - 8 beds/3 baths

The only thing I believe is missing on some of these websites is broker comments.

I just don't think it's worth it unless you want to be a real estate salesperson. Most property developers don't have salesperson license. Builders don't.

Thanks for the correct terminology. I don't know anything about this field.

My only goal was to find the most up to date, complete online listing source so I can research homes for sale for my personal residence. I'm not going to be buying multiple properties or investing.

Are you saying sites like Redfin provide the majority of the useful MLS info?

I have zero intention of changing careers into real estate. Wish I could change careers into something else but too late at this point.

 

[Ligament]

Maybe it’s different there, but I see most developers are or have close relationships with brokers. Builders often have tight relationships with one or a few realtors.

MLS access is less valuable than it once was with other online resources as suggested.

Unless you’re in high end residential or large commercial transactions, the tax advantages are probably much better than the actual income with this angle. For reference, I live in a relatively low COL area, and there are ~3000 licensed realtors. A few (top 1-2%) make more than me, but the average income is ~10% of my income. (For brokers and developers, the sky is the limit.) You have to be a hustler and have great connections to be at the top of this heap on the sales side. It’s not a typical physician side hustle.

@Ligament I’ve said before my bro and sis in-law have a brokerage/development firm near you. I could get you in contact if you’re really serious about this, but IMO the grass isn’t greener.

Hey cowboydoc thanks for the reply. I would only want MLS access to research the market in real time. I'd use a real, practicing agent for any purchase.

Good to hear MLS is not so important any longer...

I'm not going to be selling or flipping. Just want to get a personal residence and have good research tools.

Thank you

 

[deleted131481]

Hey cowboydoc thanks for the reply. I would only want MLS access to research the market in real time. I'd use a real, practicing agent for any purchase.

Good to hear MLS is not so important any longer...

I'm not going to be selling or flipping. Just want to get a personal residence and have good research tools.

Thank you

This may be stating the obvious, but a good agent should be able to research exactly what you want as it becomes available - they can set filters, etc as postings get placed to forward to you.

 

[Pain Applicant1]

Hey cowboydoc thanks for the reply. I would only want MLS access to research the market in real time. I'd use a real, practicing agent for any purchase.

Good to hear MLS is not so important any longer...

I'm not going to be selling or flipping. Just want to get a personal residence and have good research tools.

Thank you

In your situation, you SHOULDN'T go through the real estate thing and get licensed just for MLS access. That is definitely not worthwhile. Zillow will give you pretty much all the info you need and the real estate agent will give you the rest.

In your situation, you SHOULD go through the real estate thing and get licensed so you can keep the commission on the sale and do away with the agent. Not worth it for someone else to keep the commission so they can open a door for you, show you a bedroom, and then complete some paperwork for you. IMO, they just get in the way and slow things down.

If you can negotiate with your broker it is worthwhile. It's not that hard of an exam, especially for someone in your shoes who is essentially a navy seal of test-taking. If you're buying a million-dollar home you can make about $30,000 from the commission. If you're selling your current home for the same amount you can double that number. You can also get a cut when you refer your friends who are buying homes to an agent. You can even give that cut to your friends.

 

[Agast]

Are you worried about the competition for being the first offer in a hot area? If you use an agent whose company typically covers that neighborhood, they will FYI each other when something is about to be listed.

 

[cowboydoc]

Hey cowboydoc thanks for the reply. I would only want MLS access to research the market in real time. I'd use a real, practicing agent for any purchase.

Good to hear MLS is not so important any longer...

I'm not going to be selling or flipping. Just want to get a personal residence and have good research tools.

Thank you

That sounds way better than me assuming you were having an existential crisis.

Not sure exactly what you’re wanting to accomplish here. You describe doing a majority of the work, but still using an agent in the end, who would likely expect all the commission.

You may want to find a place on your own and have a RE atty do the paperwork for a set fee. This is great for a private transaction or fsbo. This won’t work if the property is on the MLS, as you’d be stuck with the listing agent/broker, even if you aren’t using a sellers agent.

In practice, the seller is paying for the agent, and you wouldn’t be paying the buyers agent, though that cost would be “baked in” to the sale. If you had your license you could feasibly cut a quarter of the cost, maybe more if you strike a deal with your broker.

 

[hyperalgesia]

In practice, the seller is paying for the agent, and you wouldn’t be paying the buyers agent, though that cost would be “baked in” to the sale. If you had your license you could feasibly cut a quarter of the cost, maybe more if you strike a deal with your broker.

You don't have to be a real estate salesperson to cut a deal. There is no law that says a realtor has to take 5% commission and can't share it or slice and dice it however they choose. Cash is king. And as a buyer, you are the king of deal making.

 

[cowboydoc]

You don't have to be a real estate salesperson to cut a deal. There is no law that says a realtor has to take 5% commission and can't share it or slice and dice it however they choose. Cash is king. And as a buyer, you are the king of deal making.

Yes, agree, but the realtor isn’t free to make a deal with you without approval of the broker.

You want to do this up front, let them help find the place and close the deal at a reduced rate. Best bet is to strike a deal with a realtor/broker.

 

[hyperalgesia]

Yes, agree, but the realtor isn’t free to make a deal with you without approval of the broker.

You want to do this up front, let them help find the place and close the deal at a reduced rate. Best bet is to strike a deal with a realtor/broker.

I wouldn't hire a real estate salesperson to find a place for me. If I did that, then I would not try to negotiate down their cut of the commission, which is technically shared by the listing agent/broker.

OTOH, if I found a place myself, did my own research, was shown the place by the listing agent, then I would feel somewhat entitled to a cut of the commission that would otherwise go to my own agent. That's when I would negotiate.

 

[cowboydoc]

I wouldn't hire a real estate salesperson to find a place for me. If I did that, then I would not try to negotiate down their cut of the commission, which is technically shared by the listing agent/broker.

OTOH, if I found a place myself, did my own research, was shown the place by the listing agent, then I would feel somewhat entitled to a cut of the commission that would otherwise go to my own agent. That's when I would negotiate.

Agree. In my current place, I found it, knew the listing agent’s contract was expiring, hired a “real estate salesperson” to close the deal for $2500. Gave him my best offer and let him go. The owner wasn’t happy and the listing agent didn’t seem to be either, but she buckled, as she knew she’d lose the listing if it didn’t work with us. She somehow convinced the owner to take the offer.

My guy tried to come back at me for higher commission, but was able to keep original deal after getting on his broker’s case.

Like everything, make agreement in writing early, no assumptions.