I am considering getting licensed as a broker in Oregon (where all agents are brokers), primarily to handle my own real estate transactions, and those of friends and family. I have a very good paying job, but it has a LOT of flexibility and I am always reachable via email or phone. I am a self starter, highly motivated, and have an MBA. While I'd like to do as much volume as possible, I think I could only count on my close friends/family, especially in this climate. I really love house hunting.

I am trying to figure out if I would even be able to break even and cover my costs, if I were just to do real estate on the side. I've read many posts about costs, and it seems like they include:
Initial licensing costs (education & testing) approximately $800.
Annual Supra Key, $200 a year?
E&O insurance--Cost per transaction or annual fee?
MLS access--Quarterly Fee?
Local Real Estate Association Fees--Any ideas about Oregon?
Fee Split
Desk Fees

Since I would be doing very low volume, I would be looking for a broker that offers no/low desk fee, but in turn takes a higher split on commissions. Do some brokers offer E&O insurance per transaction? Are MSL, Supra Key, MLS access, and association fees all pretty much fixed costs? What is a good estimate of annual cost for these items? I'm trying to figure out my annual FIXED costs budget.

One last question: do you think I would have any luck finding a brokerage to hang my license, where they would agree to not share in my fee split on properties that I buy or sell for personal use? Is this something that is often negotiated on, when interviewing principal brokers?

Thanks in advance for helping me figure out if this is feasible. I've read through pages and pages of posts and still, I am uncertain about these things.

Why bother with a License ?

I'd just do it for Sport.

Anybody else able to answer the questions about costs?

Since you've obviously got a handle on the vocabulary, and know that these cost components, among others, play a role in this business . . . . why not take this list and make an appointment with the Principal Brokers of a couple Agencies to discuss the start-up and on-going costs for a new Agent in your most likely territory.

We say all Real Estate is local, and so too, Operating Costs vary greatly between markets. National REALTORŪ Dues are the same for all of us, and the Oregon State REALTORŪ Organization can tell you what their dues are plus what your Local Dues will be, or at least tell you how to contact the Local Board of REALTORSŪ.

As a matter of fact, I would think that contacting the Local Board would be very productive, because, having been President of a couple local Boards, I can say we always had a Membership Chair who would be happy to field some of the kinds of questions that you are asking, and do it such that the answers would be appropriate for your Market.

This industry appears to have very low barriers to entry; but the costs of participating are far greater than it would appear from the outside. I know nothing about your Market or Start-Up and Operating Costs within it; but that information should be readily available to you at the end of the phone. A couple phone calls to Agents that you've had dealings with in the past will not be a waste of your time either. Good luck.