Investor 路 North Conway, NH 路 Member since 2016 路 11 posts 路 1 vote
Hello All,
I am interested in opinions about working with an agent who is also an investor, there seems to be that there would be a conflict of interest if the agent is interested in the same types of investments that you are, why would they bring you the deal first?
Also, I have heard of the advantages of becoming an agent but can anyone help me with what the minimum requirements are once licensed? I am sure they vary from state to state and agencies but anyone's experiences might be helpful. I would primarily want to obtain my license to use for my investments and not necessarily become a full time agent. Thanks in advance!
I have been a Licensee since 2007 and full time investor since 2010, i am an independant broker, so no ties to an office. for me I love my MLS access for analyzing deals, both needing to coordinate showings when you agent is available, reping my own HUD, Hubzu, Wiliams&Wiliams ect. I also List my own Flips, saving me the Listing side Commission, and I can offer a bigger co-broke when i list, giving other agents a better reason to show my stuff.
As far as working with an Investor/Agent, you have to develop a trust and understanding that you wont step on each others toes, find your own deals, dont just sit and wait for your agent to email you deals, be diligent in your search, watch every day, look at the auctions, and MLS, every day or even several times a day, its part of my routine. If your agent is loyal, be loyal to your agent, let them write your offer, and list your flips, let them rep you on an auction property, but make sure you understand each other, its a relationship, and it needs to develop.
I would second what Scott said John...plus 4 stars!!!
I consider my agents GOLD... They r not only a wealth of knowledge re properties, but if they're working with u, most likely they are into the investing end of RE as well. I get where ur concerned there might b competition... BUT change ur mindset on that... Ur coming from totally different places, and u can both benefit in some way, depending on the situation. Network, and keep making connections... It will help clear ur path toward the future. U will meet like-minded people with similar goals, and with that connection comes respect and trust. U wont b worrying about ur competition because there is enough out there for everyone to benefit. Put yourself into ur investors' and/or brokers' side of the equation...do for them what U would appreciate someone having done for yourself. Enjoy the ride. It's a lot of fun!
As far as getting ur license... It sure doesnt hurt! BUT, It's just a matter as to whether the costs outweigh the benefits. At this point in time, I'm not doing enough deals where it would b real cost effective to have my own license. In the future however, I would always consider the option. Right now, I'm enjoying the benefits of the connections and knowledge I gain through working with my agents. In my case, it was a good thing to add them to my team. It's a personal choice however, and getting or not getting a license isn't black and white with investors... It's not a one size fits all by any means...U have to decide what is best for u in ur own personal situation. 馃榾