Investor looking to become a real estate agent

[Yao Thompson]

I am an out of state investor and I am interested in obtaining my real estate license for Ohio; are there any brokerages that would be willing to sponsor me? Are there any disadvantages to being an out of state real estate agent if your more focused on the investing side vs retail?

[Caleb Brown]

I don't think that's the greatest idea if you are planning to service clients. Working with investors the biggest need is being boots on the ground and there eyes for deals. You couldn't video deals or check out properties. Most investors wouldn't be local so if you aren't local I think that'd be a disadvantage. You can delegate things out but A) that get's expensive B) it's risky. Better to be a local agent then try to virtually do it. Now there is wholesalers that virtually wholesale so being agent might be able to be done but I don't think it makes sense IMO

[Steven Foster Wilson]

Quote from @Yao Thompson:

I am an out of state investor and I am interested in obtaining my real estate license for Ohio; are there any brokerages that would be willing to sponsor me? Are there any disadvantages to being an out of state real estate agent if your more focused on the investing side vs retail?

 I would agree with Caleb on this. It's not impossible to do but the time it takes for you to be successful in doing it is lesser than what you could do locally. Investors will often back out whenever they don't have somebody local to do the groundwork for them. Hope this helps.

[Erin Dorsey Robinson]

@Yao Thompson  I have more questions than answers I guess. Can you share more about what you had in mind for how you would use your license if you did decide to pursue this? What do you see as the advantage for yourself or the value you might add for a prospective client.  Feel free to send me a direct message if you prefer to share more off line.

[Elias Osborne]

Quote from @Caleb Brown:

I don't think that's the greatest idea if you are planning to service clients. Working with investors the biggest need is being boots on the ground and there eyes for deals. You couldn't video deals or check out properties. Most investors wouldn't be local so if you aren't local I think that'd be a disadvantage. You can delegate things out but A) that get's expensive B) it's risky. Better to be a local agent then try to virtually do it. Now there is wholesalers that virtually wholesale so being agent might be able to be done but I don't think it makes sense IMO

I'm in agreeance with Caleb. For those investors out of state like you, they will be relying on the agent to be local to actually see the properties. Say they have a local contractor in that area, how would they be able see the property without you being present? Would you have a fellow agent in the brokerage tour these properties for you? Would they require some sort of split since they are doing the footwork? I think it would prove to be very challenging and not as rewarding if it was me.

[Yao Thompson]

Quote from @Erin Dorsey Robinson:

@Yao Thompson  I have more questions than answers I guess. Can you share more about what you had in mind for how you would use your license if you did decide to pursue this? What do you see as the advantage for yourself or the value you might add for a prospective client.  Feel free to send me a direct message if you prefer to share more off line.

Thank you; I just sent you a DM

[Marian Huish]

@Yao Thompson so are you strictly planning to use your license for your own investments or do you intend to service the public? If the latter and you’re trying to do this from out of state, you will need a team or local boots on the ground. I am licensed in 4 different states and I would not be successful if I didn’t have other agents to call on when I am not available. Happy to chat.

[Yao Thompson]

Quote from @Marian Huish:

@Yao Thompson so are you strictly planning to use your license for your own investments or do you intend to service the public? If the latter and you’re trying to do this from out of state, you will need a team or local boots on the ground. I am licensed in 4 different states and I would not be successful if I didn’t have other agents to call on when I am not available. Happy to chat.

Thank you; this would be for my own investments, I was able to have some conversations around this and I have a plan forward.