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Getting a Realtors License

1,893 Views | 5 Replies | Last: 4 yr ago by Red Pear Realty
Tex_Ag_2017
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AG
I have had somewhat of a hard time getting a realtor in my area to help me find an investment property. I understand that nobody wants to try and find a crappy house that will generate income because the commission on it will not be as good as some of these easier sales to families purchasing a 250k + house.

I think it would be nice to have my realtors license to be able to get on the MLS and be able to set up my own alerts and find stuff not on realtor.com

Is this feasible or do you really only want your license if you are going to do this full or part time? I may only use this every 2-3 years whenever I look for a new rent house or looking for my family a house. Will I be able to get on with a broker like this?

Any help is much appreciated.
valtosca
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Spoke to a fellow Ag from TexAgs in 2016 when I first got my Realtor license and I'd be happy to "pay it forward" and chat with you. It all started with buying my own home. Fast forward to this year and I'm way past the one transaction, including helping several TexAgs posters sell their place in the last few months here in San Antonio.

Patrick Thompson '10
210-422-2074
Red Pear Realty
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AG
I'd be happy to discuss the whole process with you, but here are some things for consideration:

  • Getting the license will cost you (most importantly) your time, and about $1,000 to go active
  • Keeping the license will cost you about $1,000 a year at least in association/mls fees, supra, etc.
  • Most brokers are going to want a cut of your commissions...or a cut plus desk fees that have to be paid regardless of whether you do a deal or not...
  • So you should run a breakeven analysis to compare costs and benefits
  • You can set email blast alerts for certain property parameters on Realtor.com without having an agent.
  • Many investors with enough experience that I know voluntarily choose to give up their licenses after reaching a certain point because there is extra liability on your part and there are certain legal requirements that the state has put in place to protect the general public from "bad" agents that make your investing life more difficult. If you get a license, and find an off market deal, you are going to have to convince the seller/buyer that the forms you have to give them warning them about you are "normal"--its not good for establishing trust. If you are just a regular dude doing a deal, no extra forms needed.
  • People like me will act as your representation and credit you back up to 2% on the buy side, and list for as little as $1,200.
  • If you really want the license, you should go for it.

Edit: And regarding this quote, most agents wouldn't know a good investment property if it smacked them in the face.

Quote:

I have had somewhat of a hard time getting a realtor in my area to help me find an investment property.


Sponsor Message: We Split Commissions. Full Service Agents in Austin, Bryan-College Station, Dallas-Fort Worth, Houston and San Antonio. Red Pear Realty
Bob_Ag
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Getting a license is not particularly difficult, but it is a bit time consuming as far as initial classes and continuing education. On top top of that, you need to find a broker and pay dues for access to MLS. If you were wanting to do it for a one time thing, I would say it's probably not worth it. If you think it's something you can utilize a couple times a year or more on the side, then it becomes more favorable.
AggieEverything81
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I just got my license, and honestly, I wouldn't do it for just once every 2 or 3 years, or probably even just once a year.

I'm sorry that you can't find an agent interested in helping you, though, because a big reason I wanted to get into this business is to help people, though of course, money is nice. But we are supposed to put the needs of our client above our own.

I don't know where you are located, but I would be happy to chat with you, if you want. I am in Houston, and my contact information is in my profile.
AggieEverything81
Aggie, Aggie mom, Aggie wife, Aggie daughter, Aggie sister, Aggie aunt
Aggie realtor with RE/MAX Universal
Aggiemike96
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Red Pear Realty said:

  • People like me will act as your representation and credit you back up to 2% on the buy side, and list for as little as $1,200.

  • May I ask how this works? I plan to buy one or two houses per year for rental and hold/appreciation purposes in the Houston area. I am considering my license as it would pay for itself in one transaction (looking at ~$175,000 houses).
    Red Pear Realty
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    AG
    There's no real catch. I have a masters degree in real estate and have been a broker and investor for about 10 years now. I actually live in Houston but do residential deals all over Texas. You find the house, I help you with everything from there just like a normal realtor would. If you want me or one of my agents to do a showing for you, we charge $150 per home (about an hour per), and you still end up way ahead compared to the typical setup.

    Also, I'm not sure if I've ever explicitly said this, but I do zero marketing outside of TexAgs. If someone else seeks me out, great, but for now at least, this is an Aggie deal.
    Sponsor Message: We Split Commissions. Full Service Agents in Austin, Bryan-College Station, Dallas-Fort Worth, Houston and San Antonio. Red Pear Realty
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