Is there any value in getting a broker’s license if you are not a RE professional?
In my state if you are a licensed attorney you can get a brokers license if you pass the test. I’m a litigator, do a little bit of real estate litigation but not primarily and nothing transactional. Any value in getting a broker’s license? If not necessarily for work, just in general? Fees seem inexpensive, but you got to do some CE.
[{"id": "i4it2yv", "text": "No value if you don\u2019t plan on using it", "replies": [{"id": "i4ithyy", "text": "Well I guess I\u2019m trying to figure out if it has uses I\u2019m not really thinking of. Or whether it facilitates having side RE investments much.", "replies": [{"id": "i4izopv", "text": "Depends on how many deals per year. if it's &lt;1, I would just find a broker that wants to trade some legal work.", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "i4j0l4z", "text": "I think having a license is always useful. Your already a trusted professional so just use it in a friends and family capacity. You don\u2019t need to go and generate business or actively market yourself but if a friend or family member wants to do a lease or sell or buy something you can handle it and make some nice side money", "replies": [], "depth": 1}, {"id": "i4j2pj9", "text": "as a broker you don\u2019t have to actually transact to make money in RE. You can \u2018hold\u2019 other sales agents license who are transacting and take a small fee (potentially smaller than their current brokerage). Definitely worth it.", "replies": [{"id": "i4k7vyq", "text": "Gotta carry some fees though, have a dedicated office, and odds are at the very least make yourself available to the licensee for coaching, advice, etc. \n\nThere may also be a conflict of interest for OP to act as an attorney on their own deals.", "replies": [], "depth": 2}, {"id": "i4le8rb", "text": "this is really popular here for PM too.  Every GC builds up a client list then figures out they are absolutely fucked if they want to move to PM and start dealing with tenant things requiring a license so they just partner with someone with a brokers license in holding and pay them for a few years until they can get their own (ie meet the experience requirements).  I've even seen this come up with some pretty large companies in PM where the founder had a license and dies etc and they are left scurrying", "replies": [], "depth": 2}], "depth": 1}, {"id": "i4j7lk3", "text": "There's a considerable amount of CE involved, which takes time, money, E/O insurance...and liability.\n\nI'd never mix the two.", "replies": [], "depth": 1}, {"id": "i4k54mm", "text": "If you're thinking of doing it for your own investments, you can get the commission that's typically paid to the selling broker.  If you have friends/clients doing a lot of RE, you may be able to get referral fees especially if your friends/clients are transacting out of state/out of the area.\n\nEdited to add: having a license will also make it easier/possible to get access to the MLS and/or other broker-only tools.", "replies": [], "depth": 1}, {"id": "i4m2ytz", "text": "What kind of jobs would a person with a law degree (litigator with appellate experience in product liabilityin construction) and a broker's license look for?", "replies": [{"id": "i4m6olw", "text": "I think Seyfarth is hiring for that", "replies": [{"id": "i4n99u7", "text": "Thank you!  I'll look into them.", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "i4p2ctb", "text": "Attorneys are almost always except from CE.  IF so, go for it, you may learn something here and there in the test... you probably have to just carry a broker bond... super cheap.  I don't think you need E&amp;O if you are not practicing brokerage and your attorney liability insurance may already cover this.  if nothing else, when you buy and sell your own place, you win 2.5% each transaction!", "replies": [], "depth": 1}]