Posted by Rob FL on October 09, 1998 at 08:31:25:
I will doublecheck (better safe than sorry)…I did ask a lawyer a few years ago and he said it was ok
How many have been realtors ? - Posted by red baron
Posted by red baron on October 08, 1998 at 17:15:49:
I’ve noticed the debate today re the merits of working
with realtors and I am curious about something. I am
just wondering how many of the posters on this board
have sold residential real estate (as a realtor), at
one time or another, to make a living.
A simple yes/no answer would be interesting.
Re: How many have been realtors ? - Posted by Alex Gurevich, TX
Posted by Alex Gurevich, TX on October 09, 1998 at 12:29:19:
I’ve been thinking on and off how to realize some extra
income from brokerage-like activities in the course of and
in addition in to my investment activities.
It seems when I sell the properties I consistantly generate
a lot of buyers’ traffic through my phone system. 99% of that
is a waste, because they either overqualified, underqualified,
don’t like or don’t need any of my properties, etc.
I already spent the money on advertising anyway, so why not
try to convert some of these leads into commission type income.
The only 2 ways I’m figuring how to do it are: 1) own a brokerage
company, and have a licensed agent on staff to work with throw-away
leads and get a share of commission this way, or 2) just pass the
leads to an unrelated competent agent and get a referal fee (my wife
is a licensee, so it’d be legal for her to get paid referal fee).
Any thoughts ?
Re: How many have been realtors ? - Posted by Reeshemah
Posted by Reeshemah on October 09, 1998 at 08:22:50:
Yes, I am a realtor with Century21 in Houston Texas.
Re: How many have been realtors ? - Posted by JPiper
Posted by JPiper on October 09, 1998 at 01:08:01:
I had a broker’s license for years (I dropped them early this year)…my wife still has a license. I have brokered apartment
buildings in the past and had my own real estate brokerage firm for a while.
There are quite a few incompetent agents…but then again there are quite a few incompetent investors too. In reality, the two
endeavors are completely different and require different talents. Having a license can be a useful tool…it can also be
detrimental from a liability standpoint.
The way I see it, if I had to have a job to support my investment activities, I would prefer to have a license and use that as my
job.
JPiper
Re: How many have been realtors ? - Posted by Bill OK
Posted by Bill OK on October 08, 1998 at 20:32:12:
Yes But now I find it has to many rules. The rule
that say’s I must state that I am the owner of the
property that I am now selling. There are several others.
Re: How many have been realtors ? - Posted by Rob FL
Posted by Rob FL on October 08, 1998 at 20:10:50:
Yes, been a broker since 1996. I only have the license to do my own deals and to help with family and friends on their deals. Selling real estate full time is just another job in my eyes, the only difference is a full-time salesman has no guarantee of a paycheck every 2 weeks.
Re: How many have been realtors ? - Posted by PBoone
Posted by PBoone on October 08, 1998 at 18:13:41:
No
Re: How many have been realtors ? - Posted by phil fernandez
Posted by phil fernandez on October 08, 1998 at 17:53:27:
Red,
I sold residential real estate for years before I saw the light. Luckily while I was selling real estate, I was also investing. The license is long gone. I feel sorry for people that have to make a living selling real estate. How boring.
Bill, have you never heard… - Posted by Soapymac
Posted by Soapymac on October 09, 1998 at 15:01:37:
of the technique of “bragging” away a potential objection?
Example: Before I show anyone a specific property, MA state law says I must inform my customer who I represent in this transaction.
MOST brokers, I’ve found, do not have the customer sign the disclosure until AFTER the customer has seen the house and BEFORE they write up an offer. The BROKER views the disclosure as having a NEGATIVE affect on the sales process…and TRANSMITS THEIR OWN FEELING to that customer.
My take is a little different. I pull the form out…AND BRAG ABOUT THE FACT that the Commonwealth has very strong consumer protection laws, and this is one of them.
There is more to the technique. Should you like to investigate it further, read “How to Sell Practically Anything” by Tom Hopkins. He raises “bragging” a negative to an art form.
Cordially,
Soapymac
Re: How many have been realtors ? - Posted by Rob FL
Posted by Rob FL on October 08, 1998 at 20:41:00:
They have that rule hear in Florida too. However, that is why you try not to own the property. I own my rentals in trusts and corporations. I don’t have to disclose my it then, because I don’t actually own the property, I just control it. Look at it this way, if I am a realtor and I own stock in IBM, when IBM sells a warehouse that they own do I have to disclose my license info to the buyer. Of course not, in fact IBM may not even know I have a license or who I am. I just own the stock in the corporation as an investor. Hope that helps.
Re: How many have been realtors ? - Posted by JPiper
Posted by JPiper on October 09, 1998 at 24:56:29:
Rob:
I think you will find that in most states you are required to disclose both direct and indirect interests…and I suspect that Florida is no different. I’d read the Florida law and perhaps have a lawyer review this for you.
JPiper
Re: How many have been realtors ? - Posted by Carol
Posted by Carol on October 08, 1998 at 21:15:36:
Good point, Rob. I have never been interested in a licence because of disclosure, etc etc but of course with props in trust …