I’m selling my home and buying another. Should I get a real estate license to save money?

Not if you’re just trying to save money by not paying real estate commissions. You usually don’t pay a commission to an agent to buy a home because the seller usually pays that. The only commission you’re going to save is when you sell your house. You have to weigh this savings against what it will cost you.

It’s going to take time and money to study for your real estate exam. In most states in the US you have to pay to take university-level courses before you can sit for the exam. Then you have to prepare for and pay a testing fee to take the licensing exam. Once you pass, then you’ve got the costs and time spent joining your local Board of Realtors, joining the multiple listing service so you can list your property for sale, buying signs, printing color flyers, purchasing errors and omissions insurance, buying necessary software, and much more.

If you have a decent-paying job will you will lose money trying to sell your own house because you will also have to take time away from your job for about three months getting it ready to go on the market, marketing it, holding it open, showing it to buyers, answering questions from other agents, doing, paperwork etc. This assumes that you already know how to enter data into the MLS, write a legally binding real estate contract, negotiate with adverse parties, etc. so you don’t have to take additional classes to learn how to do them. It also assumes you don’t get sued for missing some small detail (which new agents often do) because if you represent yourself when selling your own house you have a much higher duty to your buyer

However, if you want to sell real estate as a full-time career this may be the time.

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