By Elias Magers
A real estate license packs a lot of perks.
With a license, you can represent buyers and sellers in real estate transactions. But, that’s not the only way to see a real estate license.
It’s a tool to make money and create the life you’ve always wanted. The benefits of a real estate license pay major dividends if you know how to use it in your favor.
So, what can you do with a real estate license? A lot. Here’s a list of what you can do with one:
- Become a real estate agent
- Work part-time as a real estate agent
- Start a side hustle with referrals
- Become eligible for more real estate jobs
- Represent yourself in real estate deals
- Get access to the MLS
- Find the best properties before anyone else
- Learn how real estate works
- Build a network of real estate experts
- Get career training that you can take anywhere in life
Now, let’s take a closer look at each one of these so we can examine the true benefits of a real estate license.
Become a Real Estate Agent
Becoming a real estate agent is one of the most obvious benefits of a real estate license. The majority of people get their licenses because they want to help people buy and sell real estate.
Working as a real estate agent is unlike any other career. Real estate agents have limitless earning potential, control over their schedules, and can work wherever they want. That’s hard to beat!
Real estate agents are entrepreneurs at heart. They find leads, solve their client’s problems, and they collect a big commission when the deal closes. A real estate license is most people’s ticket to their dream job.
Be Part-Time Real Estate Agent
Diving headfirst into real estate is overwhelming. That’s why people will become part-time real estate agents. There are no rules on how much you work as a real estate agent. So long as you have a license, you can work as much as you want.
Becoming a part-time real estate agent is a great way for people to transition into a full-time career. They can test the waters to see if this career is the right fit. If not, they don’t have to commit to changing their lifestyle.
Also, people become part-time real estate agents because they need financial support. There are fees to get a real estate license. They can avoid an all-or-nothing mentality by keeping their day job.
Start That Side Hustle You’ve Always Wanted
You don’t have to go all-in with a real estate license. You can use it to start that side hustle you’ve always dreamt about. This is a secrete real estate license benefit that most people never think about.
Half of a real estate agent’s job is finding clients. But, if you refer a client to an agent, you can get a cut of that agent’s commission check. This is a finder’s fee, also known as a referral fee. Referral agents are real estate license owners who refer clients to other agents.
If you don’t want to interface with clients, you can create a lead-generating side hustle that makes money through referral fees.
Also, you can choose to work with people who are only in your immediate sphere of influence. This will remove the lead-generating part since you already know the client.
One of the greatest benefits of a real estate license is the ability to use it whenever you want.
A Real Estate License Makes You Eligible for More Jobs
Another license perk is the ability to shift careers if you don’t enjoy being a real estate agent. There are 3 jobs you are eligible for with a real estate license. Those jobs are a commercial agent, a leasing agent, and a property manager.
Working in the commercial sector is different than residential. You get bigger checks, different clients, and bigger property. It’s a nice change of pace for agents who want a competitive market with high rewards.
A leasing agent works only with owners who want to lease their properties. They are representatives who find prospective renters. Also, leasing agents will help with various admin responsibilities.
Property managers ensure the well-being of a given property. That includes the physical well-being, legality, and usage of the property.
You Can Represent Yourself with a Real Estate License for Better Deals
If you want a job done right, you gotta do it yourself! At least, that’s a thought for some people who buy or sell their house. One of the uncommon benefits of a real estate license is the power to represent yourself.
Real estate agents can buy or sell their property without the help of another agent. But, they can still hire another one if they want. Some do this because they have the experience, time, and capital to do so. By doing the deed themselves, they can save on paying the agent’s commission.
Get Exclusive Access to the Multiple Listing Service (MLS)
Agents get exclusive access to the Multiple Listing Service (MLS.) This is a database that stores real estate listings in a given area.
If you have a real estate license, you can use the MLS to find properties that meet your specific needs. This is a high-demand perk that real estate investors want. This is because it helps them find the best property possible to invest in.
You Can Find the Best Properties Before Anyone Else
One of the benefits of a real estate license is the ability to find the best properties first. The MLS is only accessed by those with a real estate license. That means you can beat out listing directories like Redfin or Zillow to be the first one to make an irresistible offer on your dream property.
Real estate investors will find this beneficial because they can have exclusive access to properties before anyone else. For those with the right kind of capital, this will help get the most bang for their buck.
Learn How Real Estate Works
To get a real estate license, you need to pass an accredited real estate school. That means you take college-level real estate courses to learn how real estate works. This means you will learn a lot about the industry and how real estate controls the economy.
The real estate industry connects with everyone. Everyone needs to rent or buy land. At some point in everyone’s life, they will need to have some knowledge about real estate. You can gain another level of knowledge that you can take with you anywhere you want in life.
Not to mention, after you complete your real estate schooling, you can get a job that will make you a ton of money. What’s not to love about that?
Build Your Network with Real Estate Experts
When you hang your real estate license at a brokerage, a community of experts will welcome you. A brokerage houses people from all parts of the industry. Some brokerages create an environment that connects you to mentors.
Mentors are professionals who have been there and done that. They have the wisdom that comes with years of experience. They will also take mentees under their wing to teach them their ways. This is a great opportunity for new agents or people who want to learn other skill sets in the industry.
Get Career Training in Skills You Can Take Anywhere in Life
One of the unspoken benefits of a real estate license is the skills you will learn as an agent. Working in real estate will expose you to circumstances you won’t experience anywhere else.
This career is people-focused. That means the skills you learn in this career are something that you can transfer to every part of your life. Whether talking with people, negotiating, or learning how to sell, you can apply the skills you learn in this career anywhere you go in life.
Final Thoughts on the Benefits of a Real Estate License
The benefits of getting a real estate license keep coming for those who know how to use it. That’s why you should see a license as a tool. It’s something you can use when you want to earn more money in your life.
There is no limit to what you can do with a real estate license. With an entrepreneurial spirit and a real estate license in hand, you can unlock endless opportunities that will help you craft the life you’ve always wanted.