Realtor license... - Posted by jake pitts

Posted by jake pitts on February 11, 2005 at 07:36:24:

Thanks everyone for your great advice. It was really helpful.

Jake

Realtor license… - Posted by jake pitts

Posted by jake pitts on February 10, 2005 at 16:37:24:

I’m a newbie investor and have a quick question. As a real estate investor, does anyone feel there is any advantage for me, as an investor, to obtain a Realtor’s license?

Thanks.
Jake Pitts

Re: Realtor license… - Posted by Brad Crouch

Posted by Brad Crouch on February 11, 2005 at 23:04:26:

Jake,

Yeah, there are some advantages. You work for a while as a sales
agent and you find yourself in the “Real Estate Network”. You will find
that every once in a while, a good deal passes in front of you. But that
may not be enough to satisfy you . . . maybe you want MORE . . . and
FASTER.

I don’t know very many people who wouldn’t be willing to pay a few
hundred dollars for the opportunity to make a goiod deal. You can use
other agents as birddogs for you.

Soon, the agents you associate with will all know that you pay a healthy
fee for deals they bring you, that you actually close.

They will be bringing you the deals they can’t make work any other way
(in the beginning). Rather than loose out on them completely, YOU
have become their “last resort”. The only remaining chance for them
to make any money on this deal.

And it’s not always a negative thing to be considered a “licensed
professional”. Just always disclose your status.

You will most likely find that having a license adds to your credibility.
It seems folks are more confident about doing deals when they
perceive that you know what you are doing (are a “professional”), and
licensed by the State.

And there is a difference between “agent” and “realtor”. You have to
become an agent before you can become a realtor. A “realtor” is just a
member of a national organization, with their own rules of ethics and
standards. It costs substantial fees to be a “realtor”, and the title is a
bit more presteigous, so you probably don’t want to go to that expense
until you make some money as an “agent”,
and can afford the title.

Good luck on whatever you decide.

Hope this helps some,

Brad

Questions about Realtor who are investors - Posted by Rosendo

Posted by Rosendo on February 11, 2005 at 08:10:25:

If a Realtor is an investor who here would be concerned that if a good deal came around the realtor might take out from under you. I know Realtors are held to a higher standard but I guess it could be possible. I have never felt thid has happened but what are your thoughts.

Thanks

Rosendo

Re: Realtor license… - Posted by Vladimir(IL)

Posted by Vladimir(IL) on February 11, 2005 at 06:19:22:

Yes, it could be advantagious. Also, FYI, there are agents that also invest.

www.agentsonline.net (where RE agents post) has a section for ‘investing’.

Only by being licensed you can ask the homeowner who is not willing to give their equity away if they would rather List their home on the MLS for full retail value.

Regards,
Vlad(IL - RE Agent/Investor)

Re: Realtor license… - Posted by Michael

Posted by Michael on February 10, 2005 at 22:55:49:

If you can find a good realtor then no you do not need a license. However, good realtors are not always easy to find.

I got my license because I was not able to find that perfect realtor, even though they ALL talk a good game. The ones I found would not submit offers timely, tried to talk me out of offers they felt were too low (lost a couple of deals this way). You may find that the best ones do not want to deal with a newbie or not take you seriously.

Overall, I say if you find a good solid realtor that knows the game and willing to work with you do not bother with getting the license.

Re: Realtor license… - Posted by jacee

Posted by jacee on February 10, 2005 at 17:08:40:

Personally, I do not see any advantage to having a realtors license. Good luck!

Re: Realtor license… - Posted by Natalie Smith

Posted by Natalie Smith on February 12, 2005 at 08:25:17:

It’s nice to see someone who knows the difference between a realtor and an agent. I’m a broker, but I’m not a realtor. I chose to have the education and experience under my belt instead of joining a trade organization.

Re: Questions about Realtor who are investors - Posted by chuck

Posted by chuck on February 11, 2005 at 19:19:37:

I am an active Realtor who finally saw the light and became a full time investor. I believe having a real estate license and being an investor is a two sided sword. On the one hand, having a license gives you access to the mls, tax rolls, lockbox combo’s, other realtors, experience with buying, selling and writing contracts, negotiating deals, establishing relationships with lenders, attorney’s, title companies, inspectors, doing cma’s and establishing values for properties, etc. On the other hand, having a real estate license puts you at a disadvantage in that you must disclose to any prospective seller or buyer that you are a licensed Realtor, and you are also held to a higher standard and it is assumed that because you have a license you have far greater knowledge than the average seller or buyer and therefore run the risk of claims that you took advantage of someone.

I feel the advantages of having a real estate license far out number the disadvantages. I suggest, if you have the time, you get your license.

Re: Realtor license… - Posted by LeasePurchase

Posted by LeasePurchase on February 10, 2005 at 17:21:44:

The most successful Realtors I know are also investors, but the most successfull investors I know are not Realtors.

For all the time and money it requires to become a highly regulated Realtor you can use the same time and money and invest it in CRE and in my opinion come out much further ahead. Find a good Realtor and tell them what your looking for and let them do all the work while you make all the money.