Recently, I received an interesting question about doing real estate transactions in multiple parts of the country. Here’s the question:
Hi, Jeffry, my name is Nora. I am a Chinese who has a green card to live in USA. My friend and I just begin our business about helping Chinese people buy real estate in USA. I wonder then do I need a license? I mean, seems like, if I have one, I also can earn the commission, the thing is, we will buy house all over the USA, I really don’t know that if the license I got in Alabama will work in other states too.
Other thing is, is it a high holding cost for a foreigner to have a property here?
Thank you so much.
The answer to this question is a definite “No”.
Real estate licenses are issued by state governments, and absolutely do not work in other states. However, many states have setup “reciprocity” with other states, meaning the process is very easy to acquire a license in a reciprocating state, and you don’t have to go through all the education and red tape to get your license in the other state.
It’s easy enough to do.
Just contact your state’s real estate commission or governing agency, and ask them about reciprocity, and which states you are interested in. They’ll be able to give you the information you need to acquire licenses in other states as easily as possible. Remember, each state is different, so the real estate license reciprocity policies will likely be different as well.