I was convinced by many experienced investors on this site to venture into getting my real estate license in Maryland. For the past 5 weeks, 3 day a week I had to spend 4 hours each and every day in class, taking quizzes, and studying like a mad person. Not too fun, but I passed the class! I just completed my final exam today and I am waiting to get a response back from the test scheduler PSI to sit for the state exam.
The questions I have for everyone is if you get your RE license do you believe that has helped your investment approach when it came to wholesaling, rehabbing, and landlording? I have read a couple topics on the benefits here at BP, but I would like to hear specific recommendations and examples as to the pros and cons which apply to your past experiences and situations. More specifically if I send out marketing material would I have to send it out saying I am a realtor?
you have to disclose no later than the first face-to-face meeting with a prospective client that you are a real estate agent. If you hang your license with a broker, you are a real estate agent. That means you must put it on your marketing materials. If i hang my license now and someone calls me off my mail campaign from the past 6 months, I need to get it out within the first few minutes that I'm a licensed agent. Fiduciary duty.
I have mine, but it is expired (got a new job the day I passed the test, so never really had time to do much with it). I am actually going to take the required classes to reactivate it in the next few weeks.
Last weekend I was hitting up Open Houses (its what I do now on weekends--I need a life..lol). At one of them, the agent had just taken an ethics training and was having EVERY person that walked in the door to look around sign the "Role of Real Estate Agents" form and some other stuff. Kinda made me laugh, she was so paranoid :)
I understand that it needs to be disclosed, but are people turned off when they hear their an agent? How about if you tell them your a Real Estate Investor? Are they hesitant to do the deal?
@David Taylor I think it's all about the delivery. Most people are pretty cordial when I disclose I am an agent, even the ones that don't want to do business with me.
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