In Florida, you can become a licensed Real Estate Agent by taking a 63-hour licensing course, passing the state exam, and then paying fees and getting fingerprinted and such.

But to become a Realtor, you have to join the National Association of Realtors, normally by joining your local board (ie I'm a member of the Pinellas Realtor Organization, which covers my county).
Then you really need to join the MLS and pay for your eKey (ie lockbox access).

My broker uses a different model (there are a couple of them in my area) where they are extremely hands-off. I pay quarterly for my insurance and then a flat-fee for each transaction ($250 each) to cover the office work and requirements. I keep the rest of the commission, but I also have to do all my own training, marketing, listing, signs, cards, everything - there is an office I could use with some office basics such as printers, copiers, fax machine, conference room, but it's too far away for the little bit I do. But it allows me to work my own hours, part-time, just closing a few contracts a year.

It cost me about $1700 last year for everything (insurance, education, MLS, Realtor membership, eKey, website). It'll cost a bit more this year due to license renewal and CE (under $100).

Hope this helps - you'll have to find out if this will work in your area. I do know some small-time investors who have done this for exactly the same reason you're thinking about.

98% of the builders I have met in the past 20 years, had a spouse who was a Realtor. It makes a lot of sense for all the reasons you mentioned.

You need to add up the costs incurred by becoming a realtor which includes the class or classes required by your state, exam fees, the licensing fee from your state, fees for joining the MLS in your area, maybe monthly MLS fees, any commission split with a broker as required, national real estate companies also collect a %age on each transaction, E and O insurance fees, and office fees.

Compare this to how much you might make as an agent doing one or two transactions per year (as you said in your post).

Do you live in a remote area? I've never had a problem getting an agent to show me a house instantly.
I've for years, bought and sold properties, but don't find it worth getting a RE license, there is more to it than just passing an exam.
In my area I can go to the listing agent directly, I find them anxious and accommodating to show me their listing and will work hard to make my offer work for all of us. Other times, an agent has contacted me, I let agents know I want fixers or teardowns.

We've been frustrated with our realtors who often can't help us within the first couple of days we spot something and we miss out. Would it be feasible for me to get my realtor's license so we can jump on these?

Your problem is made worse by using multiple realtors and trying to REACT after you see a listing. Get into the loop before things get listed. Find a realtor in your area who has been working the area for several years, with a good listing and sales record, but not extremely high volume. Look for fast turnover - it means they are well-connected and have lists of clients looking for specific things.

Let them know what you are doing, what your parameters are (location, max price, general condition, etc.) and tell them that you will use them exclusively as long as they keep delivering the goods. You have to hold up your end of the relationship by being honest about your finances and ability.

If you have your own license, you have to factor in the time and expense to get and keep the license as well as the time you will spend handling the dealing with property owners and other agents ... it might or might not be worth it.

Lazygardens is absolutely right. If you are not loyal to one realtor, why would they be loyal to you? You should be on an automated email program that will send you the listing as soon as it hits the market. No one has to watch the MLS for you. As soon as its listed, you are emailed. As far as getting your license to do one or two transactions per year, I dont know of any broker that would keep you. You would be considered "dead weight". You have to do a certain amount of business to be worth a brokers investment.

It is VERY difficult to be a "part time realtor". While you are "at work", you are missing the deals. Really good homes can come on the market and be gone within a few hours. Where it could be beneficial to you is, you would get a portion of the commission which you are not getting now but as I said, most brokers won't take an agent for two transactions a year.

Linda:
I'm curious: what investment does a broker need to make in an agent? I thought agents paid their own way and gave the broker a cut of their commissions.

Okay thanks for the help. I would love to get automated emails but it doesn't seem to work on our mls. It works on Zillow but that is not updated fast enough. Why do we need to be loyal to one agent? We have one for higher end, suburban homes and one for down-town low end fixers and rentals. They each have their niche. Trust me there is no hard feelings the one realtor doesn't want to bother with the low end homes.

I would love to get automated emails but it doesn't seem to work on our mls. They would come from the agent, not MLS.

My BIL mostly sells in office parks and strip malls now. He has his own database of "customer looking for" that automatically matches with any new listing he enters and kicks out an e-mail to anyone who the listing might interest.

He also uses the database to track everything other agents list in his area ... so he has a huge knowledge base of buildings and their specs.

Why do we need to be loyal to one agent? We have one for higher end, suburban homes and one for down-town low end fixers and rentals. They each have their niche. That works ... just let them know that you would like to know AS SOON AS they know of something that meets your parameters.

And if they e-mail you at 4PM on a Saturday to say "this looks like a good fit for you" ... don't procrastinate.

weedyacres, not all real estate companies work that way, in fact, most don't. I only know of two companies where agents pay desk fees. Most agents don't pay a monthly fee, this is the situation I am referring to when I say the broker investment is too great for an agent doing one or two deals a year. Most likely a brand new agent wouldnt be going to the type of franchise where they are paying monthly to work under that broker. If a broker brings on an agent that is doing 1 or 2 deals a year, he is losing desk space for that agent to someone who isnt carrying their weight. Each area is different and each broker calculates the cost of an agent according to their expenses. In my area, brokers "claim" an agent costs them about 18,500 per year. (between E&O, rent insurance, utilities etc. If an agent is bringing in 2 deals a year, at an average commission of $6250 (250k at 5%, split commission, broker keeps approximately $3125, that agent isnt even paying for their desk space. They most likely would let that agent go for someone who is more productive. Since we as agents, can't meet people at our homes, the office is a necessity. (sure there are times you can write an offer on the hood of your car, but sometimes you need to sit down with a client in the office).

frmrsdghtr , you are not able to set up the automated email program yourself thru the MLS. This has to be done thru an agent. This is why being loyal to one agent is to your benefit. You will have someone looking out for properties that will fit your criteria. Your post sounded as if you can't get "any realtors" to respond to you within a few days. Seasoned agents generally won't rush out the door for a caller that says, this house came on the market, I want to see it right now. They have no idea who you are, if you are qualified, if you are a tire kicker. They don't get paid to show as many houses as possible. They get paid when one closes. I would much rather spend my time with someone who I know is going to buy rather than a caller who wants to see something immediately! (statistically, once they have seen that one house, you never hear from them again)