Yes! There is no law or regulation against holding a license in multiple fields. Even in fields that overlap, such as mortgage origination and real estate sales, you can obtain more than one license. However, we do recommend that you proceed with caution!
While it’s great to have knowledge in multiple fields, especially when they’re related, it’s not a good idea to practice all of them at the same time. There are many parties involved in a real estate transaction. Each professional involved is being paid for their role in the deal. In performing more than one role, there is a conflict of interest. For example, you are acting as a real estate agent for Susie, who is shopping for a home. Once she falls in love with a brick bungalow and makes an offer, you don’t want to act as her mortgage loan officer as well. This would create a conflict of interest and potential ethical dilemmas. Instead, recommend a few other mortgage industry professionals that Susie could work with.
That being said, it never hurts to have the knowledge to be able to perform every role in the transaction. We encourage you to be a nerd, and to acquire as much knowledge as you can! If you understand your field from every point of view, you will be better able to serve your clients.
If you love to learn, you can become in expert in every field! Michigan Institute of Real Estate offers several types of online, classroom, and home study classes:
Real Estate Classes (Broker’s License or Salesperson License)
Builder’s License Class
Mortgage License Class
Appraisal License Class
Home Inspection Class
Lead Based Paint Certification Class
We even offer advanced classes on additional topics, for those who want to learn even more! Visit our website at www.myrealestateschool.com for a full list of learning opportunities.
Stay tuned to our blog for more tips and information on all things real estate!