It’s no secret that there are some smokin’ deals to be had on the MLS right now in the form of short sales and REOs. While having your real estate license is by no means a necessity if you want to score great deals off of the MLS, there are definitely some advantages to being licensed. Following are a few of those advantages..
Having access to the MLS
I’ve been wholesaling REOs for the last two years, and I can’t imagine doing so without having access to the MLS. Aside from being able to look up comparable sales, I can also do research to find out where the investor hot-spots are, as well as find out which properties have fallen in and out of contract multiple times, and which properties are due for a price reduction (I specifically target such properties). The MLS contains a wealth of information, and is something that I rely on heavily in my day to day investing activities.
Making a Commission on Purchases
Another upside to having your license when pursuing listed properties is that in many cases you will be allowed to take a commission on the deals that you purchase. While you may elect to give your side of the commission away to the listing agent in order to sweeten your offer, it’s always nice to have the option of making a commission on top of the profit you are making on your deal.
I can recall vividly my momma yelling at me, “Think before you act, child!” As adults, we too often forget momma’s sage advice. As business people, we are often even worse.
Investing in real estate is just that—INVESTING. Risk comes with the territory. The key to successful real estate investing lies in the analysis and due diligence of a potential income property. When done prudently and methodically, the investor’s risk is not only greatly mitigated, but he or she should have clear line of sight as to the property’s return potential. Sounds relatively straightforward, right? Well, this task becomes much harder when the seller tries to make a monetary gain by feeding on the inexperienced investor’s lack of knowledge or inadequate due diligence. Luckily, we’re all savvy investors at BiggerPockets.com and we know how to spot these seller exaggerations and fallacies. Let’s examine some of the common ones.
Joshua Dorkin
Charles Feldman
Ted Karsch.
Who Can Turn The World On With Her Smile? Would You Believe, A Real Estate Agent?
by Charles Feldman | August 26, 2009She’s smiling again.
Now, grant it, this might not seem like much to you, but, trust me, this could be the biggest sign to date that the real estate market is finally starting to turn around…if only a bit.
She, is a real estate agent who has been selling units in my Los Angeles building for maybe five or more years now.
In recent years, since the recession set in, her visits, with possible buyers in tow, became fewer and farther between.
And, when she did show up, the expression on her face made her look as if she had just drank a powerful laxative for breakfast. Yeah, that bad.
She apparently wasn’t selling….but neither was anyone else. How she managed to even go to work in the morning is beyond me?
And then things began to change . . .
If she weren’t a real estate agent, I would have thought her glow suggestive of….well…..you know….we’re all adults!