DO YOU NEED A Real Estate License To FLIP HOUSES?

Do You Need A Real Estate License To Flip Houses? In this video, Alex Martinez & Stan Gendlin get right to answering one of the real estate industry's top questions!

 

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The short answer is no, a real estate license is not a requirement by law for flipping houses. Typically, a real estate license becomes necessary when you're selling a property you don't own, such as selling a house for someone else, like a friend or family member.

 

A crucial distinction here is that when you're selling properties owned by others, a license is typically mandated. However, when you're selling your own properties or properties you have a direct ownership interest in, you don't necessarily need a real estate license. It's important to note that even if you don't require a license for your flipping endeavors, clear communication and disclosure are vital. Always disclose if you hold a real estate license, even if you're acting primarily as an investor.

 

There are benefits and drawbacks to holding a real estate license as a fix and flipper. On the positive side, having a license can enable you to earn a commission when you purchase properties or when you sell your own renovated properties. It also grants you immediate access to the MLS (Multiple Listing Service), a valuable resource for listing properties that reaches a broad audience of real estate professionals and potential buyers. This can enhance your property marketing efforts.

 

However, there are potential downsides to consider. If you're working as both a real estate investor and an agent, it can become challenging to separate your roles effectively. When you have a real estate license, you have a fiduciary duty to provide the best advice and representation to your clients. This can blur lines when you're also an investor looking to maximize profits. Clear communication and disclosure are crucial in these situations.

 

Additionally, holding a real estate license comes with costs, including ongoing fees, continuing education requirements, and initial licensing expenses. These costs can eat into your profits, especially if you're not actively using your license to list and sell properties for others.

 

Moreover, being a licensed real estate agent can sometimes distract you from your primary focus as a house flipper. It requires time and effort to maintain your license, which could otherwise be dedicated to finding and renovating properties.

 

Timestamps

00:00 Intro

00:20 When Would You Need A Real Estate License?

01:09 Pros And Cons Of Having A Real Estate License

03:46 What You Can Learn Getting Your License

04:09 Managing Time As A Real Estate Investor

06:00 Revisiting Pros And Cons

 

In conclusion, obtaining a real estate license is not necessary for flipping houses. While having one can bring benefits like commissions and MLS access, it also introduces potential conflicts and costs. Therefore, individuals should weigh these pros and cons carefully in alignment with their specific real estate investment goals.

 

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📝 Disclaimer:

This video is not personalized financial or legal advice for the viewer.