I Have my Real Estate License ...Now What?

Question

Hi Newbie here,

I obtained my RE License in hopes of helping me with my RE investment aspirations. How can I use this tool to best help me obtain properties. Can I purchase properties and use my commissions as down payment at closing ? Who is the best broker to park my license with ? Some people have mentioned EXP?

Braden Smith · Answer

Hi @Michelle Gallien. I am both an investor and a licensed realtor in New Orleans. I have been in the investing world since about 2010 and licensed since 2013. Happy to chat with you and answer any questions you may have...

Charlie Cameron · Answer

@Michelle Gallien Merry Christmas!  You can credit some of your commission toward closing, though you'll still need to consider paying your broker and taxes.

There is no such thing as a "best broker."  There is what works for you.  As a new agent, understand that all the knowledge you gained to pass the real estate exam likely doesn't set you up for success "on the streets."  What is best for you isn't necessarily best for everyone.  As a new agent, the most important thing is going to be mentorship and access to training and support.

Start with your goal: using your license for investing.  Then investigate brokers you think will support that goal and go from there.

Where are you located?  That may help others on BP point you in the right direction!

Best of luck to you!!!

Ned Carey · Answer

The biggest advantage to being an agent is access to the MLS and the ability to visit homes without waiting for an agent to show them to you.

Talk to other investors who are agent in your area to see who they work with. Many brokers may not be excited about an agent that does creative deals.