New Investor Looking for Place to Hang RE License

New Investor Looking for Place to Hang RE License

Member since 2013 · 24 posts · 15 votes

Hello everyone! I start my licensing classes this weekend and have already started thinking about where I'll hang my license.

I'm getting my license so I can access the MLS at 3:30 am if I so choose. I tend to be awake intermittently and at completely ridiculous hours during the night, so I plan on this benefit being worth it's weight in gold. (literally and figuratively)

I like that I could write 100 offers a month without getting on anyone's nerves...with the exception of an occasional seller agent, perhaps. (lol...BIG smile)

I'd also like to have control over the information in terms of what gets put on the MLS, what information gets communicated to me during negotiations etc. I'd like to "remove the filter" so to speak.

I bet you're starting to wonder if there's a question hidden somewhere in this post...the answer is yes, and here it is:

I'm looking for a broker that won't charge me to death with monthly fees and percentages. I've found a brokerage that charges $25/mo and a flat fee of $300 per deal. That seems pretty reasonable to me...but what do I know?! (shrug)

Anybody know of something better or have any recommendations on what I should be looking for in a brokerage from a REI standpoint?

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Carlsbad, CA · Member since 2013 · 19 posts · 5 votes
12y

Hi Shannon,

That sounds like a pretty good deal. The only thing to consider is how much your broker is going to help you with your offers. It might be a good idea to hang your license with a broker who will help you out a lot in the beginning, then move to a cheap broker after a year or two of learning (unless you already have a lot of experience with writing offers etc).

I was just in Chandler last week, I'm actually out there quite a bit for work and I'd love to do some real estate out there but I'm just not very familiar with the market unfortunately.

Good luck to you!

Chad

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  • Real Estate Broker · MA · Member since 2013 · 361 posts · 297 votes
    12y

    I hang my license with Allison James Estates and Homes. It's a national virtual agency. I checked and they do have a broker in Arizona. They have 3 different plans depending on your volume. The program for occasional deals is $35 per month plus $325 (transaction fee + E&O Insurance) per deal.

    http://www.allisonjamesinc.com/our-programs/P154

    All backoffice operations are paperless which is nice.

  • Carlsbad, CA · Member since 2013 · 19 posts · 5 votes
    12y

    Hi Shannon,

    That sounds like a pretty good deal. The only thing to consider is how much your broker is going to help you with your offers. It might be a good idea to hang your license with a broker who will help you out a lot in the beginning, then move to a cheap broker after a year or two of learning (unless you already have a lot of experience with writing offers etc).

    I was just in Chandler last week, I'm actually out there quite a bit for work and I'd love to do some real estate out there but I'm just not very familiar with the market unfortunately.

    Good luck to you!

    Chad

  • Investor · Louisville, KY · Member since 2011 · 331 posts · 278 votes
    12y

    This seems very reasonable if you are going to use your license primarily for your stated purposes of gaining access to info and harassing listing agents. If you want to deal with retail buyers and sellers, I'd agree with @Account Closed . Having an experienced person you can consult with to get started is helpful. That being said, dealing with retail buyers and sellers is a pain in the a$$ and can be very distracting from your investing. This is especially true if you work another full-time job.

  • Member since 2013 · 24 posts · 15 votes
    12y

    All good tips. Thanks for sharing your info/opinions. Good lord...it's actualscary how much I don't know!

    @Phil G. Until 5 minutes ago...I didn't even know what E&O Insurance was. SMH!

    Every question leads to an answer...every answer leads to 5 more questions.

  • Member since 2013 · 24 posts · 15 votes
    12y

    I think I just came up with a tag line..."every question leads to an answer and every answer leads to 5 more questions."

    Don't steal that...it's mine. ;)

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