Becoming a Realtor
By: Wendy Patton
© 2010. All rights reserved.
I became a licensed agent in 1986. Why? I had started to invest in real estate and realized that I had to rely on a Realtor to get me in to see some of the properties I was interested in purchasing, and then I had to wait for them for the comparables. Comparables (aka Comps) can best be found on the MLS (Multiple Listing Service). Only Realtors have access to the MLS in most parts of the country. There are other websites and systems that have comparables in some parts of the country, but nothing is like the MLS. That is where the true sales information lies. After I purchased my first several homes, I decided that I did not want to wait for or rely on a Realtor to buy and sell my own properties.
Becoming a Realtor, as a real estate investor, will give you many advantages. There are no disadvantages that I know of. Investors tend to be adamant one way or the other about being a licensed Realtor. I am definitely on the side of becoming licensed. Being licensed has been one of the best tools that I have as an investor. Being licensed allows access to your database of ‘comps’ or "comparables." This is the data you need to buy and sell real estate – with good information. If you have a great Realtor, or you can get access to the MLS (Multiple Listing Service) without being licensed, great, but I still think it is better to be licensed than not. I personally like to do my own comparables (maybe that is the controlling part of me).
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