425,952
Well, we have someone here that was licensed, didn’t disclose his/her status as a licensee when buying property as a principal and had to turn in his/her license after disciplinary actions. He/She is still doing real estate deals in some capacity
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Pete Xavier
Pacific Palisades, CA
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Kathleen Daniels, Prob...
San Jose, CA
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Candice A. Donofrio
Fort Mohave, AZ
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Bob "RealMan" Timm
Minot, ND
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Debe Maxwell, CRS
Charlotte, NC
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Roy Kelley
Gaithersburg, MD
5,224,095
Been there, done that, got my license and haven't flipped a house since!
So, the answer is yes, you just hire a local agent.
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Pete Xavier
Pacific Palisades, CA
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Kathleen Daniels, Prob...
San Jose, CA
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Peter Testa
Danbury, CT
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Bob "RealMan" Timm
Minot, ND
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Diana Dahlberg
Pleasant Prairie, WI
-
J.R. Schloemer
Louisville, KY
757,335
I think if Flipping is your thing it's best to stick with that & not think you can also do a Real Estate Agent's job. The 2 are distinctly different & require distinctly different skill sets.
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Pete Xavier
Pacific Palisades, CA
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Kathleen Daniels, Prob...
San Jose, CA
-
Debbie Gartner
White Plains, NY
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Bob "RealMan" Timm
Minot, ND
-
Debe Maxwell, CRS
Charlotte, NC
2,056,532
Either way will work... but the "experience" that comes along with that license is indispensible..
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Pete Xavier
Pacific Palisades, CA
-
Debe Maxwell, CRS
Charlotte, NC
-
Fred Griffin Florida R...
Tallahassee, FL
679,204
You do not need a real estate license, but you need a good realtor!
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Debbie Gartner
White Plains, NY
-
Bob "RealMan" Timm
Minot, ND
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Debe Maxwell, CRS
Charlotte, NC
2,180,305
Either way will work
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Bob "RealMan" Timm
Minot, ND
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Diana Dahlberg
Pleasant Prairie, WI
-
Roy Kelley
Gaithersburg, MD
1,842,961
Nope, I would not get licensed.
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Debe Maxwell, CRS
Charlotte, NC
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Bob "RealMan" Timm
Minot, ND
613,494
Most flippers do not want to "disclose" or follow the guidelines....so I have known some to give up the license.
Then flipper finds an agent desperate to work for peanuts who will also give buyer the lockbox code when they should not...
Eve
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Debe Maxwell, CRS
Charlotte, NC
5,102,824
I don't flip so I have no opinion on which is better.
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Bob "RealMan" Timm
Minot, ND
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Peter Testa
Danbury, CT
4,319,419
You don't need a license to be a flipper, Shawn Moore.
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Debe Maxwell, CRS
Charlotte, NC
-
Bob "RealMan" Timm
Minot, ND
1,239,320
Most flippers work with realtors. They are unlikely to get nailed if not having a license. Want a rebate contact Redfin broker, want only to pay 1% contact Redfin. Want to list it for free contact I will double end no matter what- El Cheapo Realty......
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Sam Shueh
San Jose, CA
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Bob "RealMan" Timm
Minot, ND
155,337
Not needed, but your broker might let you use your commission towards your closing costs or down payment if you are licensed (mine does).
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Debe Maxwell, CRS
Charlotte, NC
-
Bob "RealMan" Timm
Minot, ND
544,014
Not needed
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Bob "RealMan" Timm
Minot, ND
-
Debe Maxwell, CRS
Charlotte, NC
2,682,719
No.
Yes.
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Bob "RealMan" Timm
Minot, ND
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Debe Maxwell, CRS
Charlotte, NC
2,385,980
I know several people in Minot ND Shawn Moore that flip homes who are not licensed. I love'm because they flip and list with me .
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Debe Maxwell, CRS
Charlotte, NC
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Peter Testa
Danbury, CT
2,779,653
More slice of the pie if licensed however flippers eat whole pies too
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Debe Maxwell, CRS
Charlotte, NC
-
Bob "RealMan" Timm
Minot, ND
5,772,470
You have to weigh the pros and cons and talk to your financial adviser. A
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Tony and Suzanne Marri...
Scottsdale, AZ
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Bob "RealMan" Timm
Minot, ND
3,416,022
The fliipers I work with tell me they do not want their license as they would have to be at a higher level of disclosure and scrutiny. They are happy hiring me as I get them deals and sell their homes adding value to them.
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Bob "RealMan" Timm
Minot, ND
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Debe Maxwell, CRS
Charlotte, NC
1,712,676
Only for access to listings where you can represent yourself.
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Debe Maxwell, CRS
Charlotte, NC
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Bob "RealMan" Timm
Minot, ND
6,380,446
Easier to be a flipper without, less restrictions.
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Bob "RealMan" Timm
Minot, ND
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Bob Crane
Stevens Point, WI
5,583,278
you do not need your real estate license to be a flipper....but if you are licensed, you need to disclose that you are....
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Debe Maxwell, CRS
Charlotte, NC
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Bob "RealMan" Timm
Minot, ND
7,822,454
If you have a good agent to represent your interests, you do not need to have a license.
I was licensed when I was flipping homes. Access to the MLS and other resources was important for me.
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Debe Maxwell, CRS
Charlotte, NC
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Bob "RealMan" Timm
Minot, ND
5,862,877
I would say be good at one thing - flipping or selling.
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Pete Xavier
Pacific Palisades, CA
2,176,071
You don't NEED a license to be a flipper unless you want the benefits of the MLS without hiring a listing agent. It probably depends on how many houses you plan to flip... which brings up another issue. Regulations are changing for people who do a lot of flipping, in regards to whether or not they need a contractors license.
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Bob "RealMan" Timm
Minot, ND
1,501,618
No you do not. There are plenty of ways to buy property without an agent (even listed properties you can buy by owner). You can sell by owner or get a flat fee or discount broker to list them for you too. Can always go FSBO in zillow too.
Not being listed in the MLS though, can reduce the amount of people through the house and increase the on market time. Of course, with the right house it may not matter.
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Bob "RealMan" Timm
Minot, ND
3,343,466
In my state of California, it depends on how many flips are done - there are limits ...if exceeded you need a license.
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Debe Maxwell, CRS
Charlotte, NC
1,306,062
A license is not required to flip houses. I know flippers who have a license and flippers who do not.
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Debe Maxwell, CRS
Charlotte, NC
577,750
No one needs a real estase license to flip a property. All you need is an agent to submit the offer to purchase and then sell the property.
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Debe Maxwell, CRS
Charlotte, NC
5,044,753
Well there's a bit more to being a successful flipper than a license.
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Debe Maxwell, CRS
Charlotte, NC
1,466,207
Shawn Moore You do not need a real estate license to flip real estate properties.
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Bob "RealMan" Timm
Minot, ND
5,205,874
Whatever works for you. Many flippers are not licensed.
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Bob "RealMan" Timm
Minot, ND
4,800,082
Not required. And probably better if you have a good agent unless you're good at marketing.
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Bob "RealMan" Timm
Minot, ND
921,504
You do not NEED a licensee to be a FLIPPER.
The reality is, if the flipper IS LICENSED, they are encumbered greatly in what they can do.
The flipper should be working for PROFIT. The flipper should hire those who are willing to work for tips. If the flipper does not have a 'list' they would be foolish to think they will derive maximum benefit without agent assistance. Your question suggests you do not understand fully what agent assist could mean.
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Bob "RealMan" Timm
Minot, ND
4,434,127
599,124
You would be wise to use a REALTOR for these transactions.
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Debe Maxwell, CRS
Charlotte, NC
3,986,252
Depends on the state as to if and how many you may flip in a year before needed the license
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Bob "RealMan" Timm
Minot, ND
1,153,794
It's doable either way and probably easier without. No discloure required.
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Bob "RealMan" Timm
Minot, ND
3,988,007
I have many flippers in my real estate prelicense class that never intend to get their licenses but just want the extra knowledge. You do not need a real estate license but do need a good real estate licensee working for you.
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Bob "RealMan" Timm
Minot, ND
2,071,025
1,598,452
69,794
Buyers do not normally pay a commission to buy a home. When it's time to sell your flip, you could For Sale By Owner it if you have the knowledge and time. You could just pay out a smaller commision to a buyers agent if they brought you a buyer.
Being licensed, a broker would have to hold your license and most likely take a portion of your commission earned on the buy and sale. Plus you would have to pay for the license, renewals, and conitnuing education. Plus you have to follow rules and disclose your an agent each time.
I did one flip and it was worth it money-wise, but a pain in my a$$. Literally, I did a lot of the work myself and I was sore. Our broker lets us do one "free" buy or sale each year of our personal properties, so it worked out commision-wise. Still had to pay out to the buyer agents though.
952,122
I would rather represent than flip! (Been there, done that) I no longer represent...because I'd rather be doing what I'm currently doing!
Direct short answer to your question: If I where successfully flipping homes I would not consider obtaining a real estate license for myself (long story).
182,915
1,810
Ok, it looks like I need to clarify the question. I know that you don't NEED a license to be a flipper. That's not the question, the question is if I'm the one flipping, will it be more financially rewarding for me to have a license, vs paying a separate realtor? It seems that even with the restrictions of disclosure, etc, I would get more money in my pocket if I had the license and was paid the commission, vs paying this to a separate realtor.
3,071,489