Posted by Todd Mc on April 23, 2002 at 08:10:12:
One comment on that, if you become an agent/investor be careful to always disclose to your seller or potential tenant/buyer (prefer in writing) in which capacity you are acting when doing deals.
Are you thinking about it because it will give you an “inside scoope” to some of the deals?
God bless you too!
Todd.
BECOME AN AGENT??? - Posted by Thomas
Posted by Thomas on April 23, 2002 at 06:20:20:
Hello and good day to all-
I was wondering if anyone has any knowledge concerning becoming an real eastate agent…how would that affect being an investor? Would it work for or against? Why? I am a newbie at investing, in fact, I havent even done a deal yet. I guess thats pretty new. If anyone has any experience or insite on this, please contact me and let me know how this would work.
Thank You So Much, and, GOD BLESS YOU ALL. (Hoping that didnt offend anyone)
Brad
Re: BECOME AN AGENT??? - Posted by Harold Whiteley
Posted by Harold Whiteley on April 24, 2002 at 01:10:33:
Brad:
If you want a crash real estate agent course, to get you going with the terms and cause/effect surrounding what RE agents do, you might want to look into the small business school companies, that provide the courses to take in which real estate agents must take to renew their state licenses. These business course companies have to follow state guide lines and fall under the State Real Estate Commission Board of Review, so you could actually become a REal Estate Agent in a 4 to 6 weeks period. Of course, if you wanted to practice real estate, you have to be sponsored by a licensed real estate BROKER which has to sign the paper work submitted to the state commission. There are non-active RE Brokers in the world that will sponsor you if you dig them up.
I have my Texas Real Estate License (inactive status) and I obtained my license due to working for a lake resort property development and marketing company. Technically, working for them, we did not have to hold a state RE license, due to the fact that property owners (individuals or companies) who OWN the property, can legally conduct selling transactions. The company’s inhouse corporate Broker, was every sales person’s broker, but he was only a figure-head who stayed in the corporate office and did not have any “hands-on” daily duties, except to oversee that the sales managers at the lake resort properties knew how to dot their “Is” and cross their “Ts” on each property sale.
Anyway, there are several such business schools (companies) in larger metroplex areas that can sell you the text books and workbooks, which have all the questions that will be on state exams, so it is a matter of simply working thru all the workbooks and understanding the terms, procedures and legal obligations of RE agents and brokers for the sellers and the buyers.
Plus, after taking the correspondent course by text and workbooks, you take an exam through the business school, which allows you to make application to the State to take the state’s RE License exam.
And remember that there are STATE EXAM CRAM COURSES that you can pay for and attend (about $100) for a 2 day CRAM COURSE, which should be taken right before you are going to take your STATE EXAM, if you use this type of reduced timeline for acquiring your state RE agents license.
Anyway, I hope that this gives you a clearer picture of your options in regards to acquiring a state license, if you elect to get one for CREI deals.
Basically, you don’t need a RE agent’s license, but who knows, after taking the plunge, you might decide to become a BROKER.
With best regards,
Harold L. Whiteley
Lewisville, TX
(DFW-Metro-Area)
Re: BECOME AN AGENT??? - Posted by Brent_IL
Posted by Brent_IL on April 23, 2002 at 09:03:54:
The costs, fees, and legal responsibilities of being an agent are significant. The benefits are weighed against the type and volume of deals that you’re doing. This usually comes up once a week. If you search the archives you may find guidance.