Should Physician Investors Get A Real Estate License?

Dr. Kim details the pros and cons of becoming licensed, detailing the costs involved in terms of money, time, and effort. This post was originally published on Passive Income MD.

I got my real estate license over eight years ago, and currently, I run my own brokerage – Curbside Real Estate. My original decision to get my license was to learn more about the purchase and sale process and perhaps save some money on commissions.

Benefits of Having a Real Estate License

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It's important to comprehend the purchase contract whether you're a buyer, seller, or investor. Getting a license helps you understand contract conditions.

1. Become an Expert at Understanding the Purchase Contract

When it comes to residential homes, the commission for agents varies, but they usually range between 5-6% to be split evenly between the agents on both sides.

2. Save on Commission

A real estate license gives you access to the MLS, which agents use to find new properties. You can get them faster than from your agency.

3. Access to the MLS

I firmly believe that having your real estate license can be beneficial as a doctor. Who doesn’t want to be more of an expert in something you’re interested in and can net you some extra income.

Bottom Line

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