How to become a RE Agent Specifically for Investment Deals?

Question

I am a Rookie investor and have obtained my Real Estate License. Currently my license is in "Unassigned" status. I do not aspire to become a Real Estate agent as a profession, but would like to operate in that capacity to complete the transactions for my investment properties and gain full access to the MLS. Is there a way that I can essentially work under a Broker as an agent, but only work on deals for my business?

Jonathan Greene · Answer

My question when anyone says what you said is why wouldn't you want to also help your friends and family do transactions and invest as side money? When you present it the way that you did, and if you have not done any investor deals, why does a brokerage want you there unless they can get a lot of fees out of you because your goal is to remove them from your own transactions as much as possible. Don't think of having your license as having to go out and work as an agent, think of it as you did (access to comps and MLS and properties), but also as a side option for friends and family. So, learning how to do it right as an agent will not only help you on your own deals, but also on people you know.

David M. · Answer

Account Closed

Sounds like you are asking about an 'investor friendly broker.' It might be possible. There are discussion threads on bp about this. I've never heard of a "solid" way to identify one...

Hmmm.... As you should know, your Broker is really making his/her money from your production via the commission split with you. So, if you don't produce, you end up costing your broker. Franchises usually charge the brokerage something per month per agent. Some brokers keep to a business mentality of "why have a non-performing" agent. As you might imagine, just having another agent, which could add up, on the books who isn't performing is a drain the overhead (track you down for CE, license renewals, etc.). So, in many ways is what is it worth to you to have your license? The usual "fixed" fees are around $2k-$3k a year. Maybe you have to throw in some more to your broker to cover his costs if you aren't producing... Just an idea...

Some of the new brokerage models might be more appealing. eXp is a national, 'virtual' brokerage that I hear will leave you alone. Also, they let you have a couple or so of your own deals for free (i.e. you keep 100% of the commission). As its been discussed before on BP, it depends on how you learn and how can you learn your trade. If you are going to be a real estate agent for yourself, how are you going to learn the trade well enough to represent yourself? Lets face it, you may need to actually "work" as an agent so that you can learn the trade before 'striking out on your own' so to speak. This holds true for just about any to every profession.

Good luck.

How to become a RE Agent Specifically for Investment Deals?

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