real estate licencing - Posted by brad

Posted by GL(ON) on July 16, 2002 at 12:06:44:

I took the course and found it valuable in terms of general real estate knowlege and getting on an even footing with real estate professionals and lawyers. It will give you confidence and help you as an investor even if you never get your license to sell real estate.

Of course you must have it if you want to be a real estate salesperson. This will not hurt your investing but it will not help as much as some people think. It will help though.

The funny thing is selling and investing are two different things and seem to appeal to two different temperaments. The investors who got their real estate licenses soon dropped them to invest full time, and the sales people who invest soon give it up to concentrate on sales.

I only know one real estate sales person who also did well in investing. HE was an old timer in this area named John Clausen. He sold real estate for years and accumulated some rental properties at the same time, and when he reached retirement age he was very well fixed financially, unlike most salespeople.

real estate licencing - Posted by brad

Posted by brad on July 16, 2002 at 09:48:02:

i first would like to say hi to all. i read on this board daily but very seldem post here. i am getting ready to take some classes at the local college. im still in the army and they (you) are paying for it. it is for a real estate sales licensing course.

my Question is this: are there loan programs that this type of education will exclude me from? i know a little about the disclosures that realitors have to make but what i am wanting to know is about applying commissions toward the down payment? is this a plus or is it even legal.

the course is free to me so and is a pre licensing course. so if i find out having a license will tie my hands too much i just wont take the state exam

Re: real estate licencing - Posted by Karen

Posted by Karen on July 16, 2002 at 20:02:47:

I’m one of those licensed realtors and I can tell you that it has helped with the money. We are set now to buy some homes with some real low down payments. The commission will cover most of the down payment for the mortgage and the closing costs will be rolled into the loan. Creative investing!

Re: real estate licencing - Posted by Bruce Lawson

Posted by Bruce Lawson on July 16, 2002 at 13:35:58:

Hi Brad,

No education will hurt you any real estate classes that are designed for pre-license will touch on things you will need to know as a realtor and want to know as an investor.

Being a realtor does not mean by any means you can not purchase property you will be required to disclose to the seller that you are a realtor and you are considering purchasing their home for yourself. The reason for that is the law sees realtors as real estate professionals and they feel realtors in knowing the market could pursuade somone to sell their house cheaper than the asking price. Yes that is what we do as investors but investors are not govern by any board such as the local and the national board of realtors.

As a realtor gives you access to properties that are just about to be listed or just have expired their listing, you will have access to a ton of lenders who all want business from you(that can be beneficial as an investor).

As for useing commissions for down payments that is something creative and is perfectly legal.

As a realtor you can make a decent income as well as investing they both have advantages, I would take the class and the exam.


Bruce Lawson