7 Reasons to Pursue a Real Estate License in 2024

Have you been dreaming about getting your real estate license for a while, but you’re not sure it’s a commitment you want to make? Are you concerned about putting thousands of dollars into it only to find out it might not be right for you?

Whether you’re already a property investor, or you’re looking to start a new career as a licensed real estate agent, here’s why 2024 is the perfect time to get your license.

1. Getting licensed as a real estate agent is surprisingly affordable

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Anytime you can start a new career affordably, it’s hard not to jump at the opportunity. That’s how it is with getting a real estate license. It really doesn’t cost as much as you might think.

Hesitation regarding any financial investment is understandable, but you’ll be happy to know that getting your license is cheap. For instance, the fee for getting a real estate license is pretty low in North Carolina from RealEstateU. In fact, in the United States, you can get your real estate license online affordably no matter where you live.

There will undoubtedly be additional fees associated with getting licensed and staying licensed, but that comes with the territory. All in all, getting a real estate license is one of the cheapest professional licenses around. The true cost is in the amount of time and effort you need to spend learning the industry.

2. You’ll save thousands on new investment properties

If you’re already a property investor, having a real estate license will open up doors that will save you plenty of cash. Once you’re licensed, you’ll never have to pay a buyer’s agent fee when purchasing a property.

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When you don’t have a real estate license, you can’t act as your own buyer or seller’s agent during real estate transactions. However, once you’re licensed, you can legally be your own agent.

When you work as your own agent, you don’t need to pay someone else the agents’ fees associated with your part of the transaction. That money just stays in your pocket and it’s like getting a big discount on every rental property you buy.

Another benefit to having a license is getting access to the Multiple Listing Service (MLS) database. With this database, you’ll get early access to new properties that have been listed for sale, which will give you a serious advantage when acquiring new properties. In some cases, you might avoid bidding wars all together if there aren’t any other agents or buyers competing for the same property.

3. The housing markets are changing for the better

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Now that the eviction moratoriums have been largely phased out in the U.S., it’s safer to buy rental property. Property investing has always been risky, but never like it was between 2020-2021. Under the eviction moratoriums, property owners were forced to go without rent payments and there was nothing they could do to recover their losses.

Now that these moratoriums are in the past, the risks of owning rental property are back to normal. The possibility of another moratorium is unlikely, and the housing markets are starting to settle back to normal.

4. It’s a good time for a side gig

Right now, there’s no better time than to pick up a side gig. For the most part, the economy seems to be doing better and it doesn’t seem likely to return to the chaos we saw in 2020-2021.

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Real estate has always been a good side gig for entrepreneurs and people who want to build long-term wealth, one property at a time. When you work as a licensed real estate agent, you can choose how much or how little you want to work. You never have to turn your side gig into a full-time job unless that’s exactly what you want. Entry Education suggests that starting a career in real estate can be a great way to get ahead in life. The industry offers opportunities for motivated people to succeed. With the right education, you can start your career with confidence and knowledge.

5. Licensed real estate agents make good money

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If your goal is to earn a good living, becoming a licensed agent will put you on the path to your goal. According to data published by Indeed, the average licensed real estate agent earns just over $6,600 per month.

That’s just the average salary. Some real estate agents earn anywhere from $150,000-$300,000 or more per year. It really depends on your knowledge, expertise, and what homes you buy or sell.

For those whose goal is to create long-term wealth, real estate is one of the best ways to accumulate that wealth. Moreover, it provides a unique investment opportunity that offers both short-term and long-term benefits, as you can see at https://exprealty.com/us/fl/miami-shores/houses/. You can get paid to help people buy or sell homes, but you’ll also get first dibs on homes in the MLS before they are made public.

6. Procrastination leaves money on the table

Regardless of what’s going on in the world, if you procrastinate getting your license, you are leaving money on the table.

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You have every reason to get your license now and not put it off any longer. Getting licensed is easy, you can do it completely online, and it won’t cost much.

7. You want to retire faster

Source: squareyards.com

Real estate is a lucrative industry, especially when your goal is to create long-term wealth for retirement. Over time, you can acquire a significant amount of rental properties that will eventually produce pure profits. It’s a great way to set yourself up for a well-off retirement.

When you have your real estate license and act as your own buyer’s agent, the money you’ll save from those transactions will add up significantly over time. For example, say you end up owning 20 rental properties. If you saved $3,000 on each property, that’s $60,000 in savings, which can basically cover a down payment on yet another property.

Pursue your passion

If you’re passionate about real estate, don’t hesitate to pursue your passion and get your license. Once you pass the exam and become licensed, your whole career as an investor will open up in new ways you never thought possible.