Part time Real Estate License in Oregon?

Question

Hi BP community,

I'm currently in my fourth year working as a physical therapist in Oregon, but have the Real Estate itch, mainly from my addiction to the BP podcast. I work full time, but am contemplating going down to part time to get my RE license. I'll use the license for my own RE investment to have access to the MLS, be able to access lock boxes, and to further my education. I'll also use it to offer part time help to friends, family and potential other home buyers as an agent. Does anybody else have experience or wisdom on getting your RE license and working part time? Thanks everyone!

Jeff S. · Answer

@Chris Parrish have seen teachers who as part time were exceptional agents! Summer work and clients as children.

Lance Nelson · Answer

@Chris Parrish Thanks for your thoughtful response. I started onlineed.com training this week and I'm excited to get the ball rolling. I'll definitely do my best to give realtors a good name and take your advice to heart. Would be great to meet up sometime and pick your brain!

Chris Parrish · Answer

@Lance Nelson when I first started out as a realtor, I hung my license at Century 21 Wright & Associates out of Beaverton. They had zero desk fees - what @Jay Hinrichs is referring to - which means no revolving monthly costs. They would take 30% of the comission when you closed a deal. After you closed I think $40k in comissions, it went to an 80/20 split. They also offered all the training you could want. It was a great place to start. I would recommend you check them out. I never went into the office, so the fact they were in Beaverton was not an issue for me.

I think the personal benefits of being a part-time (nights and weekends) realtor are awesome! Getting to check out investments when I want on my timeline, being able to write offers instantly, etc. is priceless! It costs me $2,000 per year to keep my license - renewals, courses, pmar, and rmls.

However, after being an agent for a few years I really believe that part-time realtors don't do their clients justice. Yeah, I suppose its possible that there are some who are excellent negotiators, and understand all the documents perfectly. But the vast majority of part-time realtors are mediocre at best for their clients. It has taken me years to fine tune my negotiation skills (and still growing) and exceed my clients expectations. I am on 6 straight transactions where I have gotten my clients a better price than they asked for! Feels good and rewarding to add value like that. If you get your license, do everything you can do be great. Don't give realtors a bad name! And feel free to reach out to me if you have any questions, etc.

Jay Hinrichs · Answer

I don't own a brokerage in Oregon..   a simple Google search should do it for you

or talked to Mike Nuss at Rarebird brokerage I know they are all investors and see what they will do for you.. @Mike Nuss

Lance Nelson · Answer

@Jay Hinrichs thanks for the response, Jay. I see that you’re in Lake Oswego. Is “transaction based” something that you would consider offering? Or maybe you have a recommendation of someone that would?

Jay Hinrichs · Answer

there are brokers in Oregon that let U just hang the license and you pay a transaction fee.. that's what your looking for.

and to me anyone serious about real estate this is what I think many would benefit from.. having MLS data and lock box access is huge .. and all for just maybe 1.5k a year or so.. cheap cheap way to get all the data..

Abel Curiel · Answer

Hello Lance,

I started off as a part-time Realtor to earn extra money and eventually quit my 9-5. Thankfully, I was able to quit my job after 2 years of RE sales.

My advice would be to carefully examine what you're getting into before you do it. If MLS access, easy access to properties, and education is the main objective, I'd consider working with a dedicated buyer's agent who speaks your language. Their commission is typically paid for by the seller and you can still get your education online using platforms like BP. I'd say you don't need a license for that stuff.

With regards to helping out family and friends, your license can definitely help you earn additional income just from leveraging your relationships. Again, I'd have to dig a little deeper to see if this makes sense for your current situation and future goals.

Shooting you a PM so we can stay connected.

Best,

Abel

Part time Real Estate License in Oregon?

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