Which Brokerage to Choose as an Investor-Agent

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Which Brokerage to Choose as an Investor-Agent

Val Lemoine
Real Estate Agent · Smyrna, GA · Member since 2016 · 37 posts · 8 votes

Hello BP family!

My name is Val Lemoine. I have been a RE investor for a little over two years. I also own two Firehouse Subs. 

In 2015 alone I referred 14 listings to agents, sellers that were motivated enough to sell, but not motivated enough to where it made sense for me to buy as an investor. So I decided to capitalize on that by becoming an agent. I can now either get paid for referrals or choose to keep listings for myself as well.

I spoke to several brokers and had ultimately decided with Keller Williams Cityside. Their office is two minutes from my house in Smyrna and I have a great relationship with the team leader Ceci. Ceci has even agreed to personally mentor me for the first year to ensure I "cap out".

Keller Williams has a great reputation in Atlanta. Not having signed anything yet, I am already getting a taste of "the big firm" environment which is not necessarily a bad thing; but I think that being an investor first and foremost my scenario is a little more unique.

I know that I have to disclose my personal transactions (or my entities') prior to making offers. Never having had to do that before I'm sure the investors out there appreciate that that does not make me feel very comfortable. I understand that disclosure will have to take place in any brokerage but I wonder if a smaller, maybe more investor friendly setting would be a better fit. 

On the other hand, being a KW agent would build instant credibility with sellers. Plus, I believe that I would benefit greatly from Ceci's mentorship. Also, I would probably get the best education there, at least in the beginning.

I have not told KW 'no' yet, but I did tell them I was speaking to other brokerages as well. I have two listings to sign when I choose where to hang my hat. So, enventhough I want to make a well thought out decision, I don't have all the time in the world either.

I know that I am not the first investor-agent to come across this dilemma. I would love to hear what my fellow BPers have to say on the matter. 

Thank you very much in advance for sharing your feedback and wisdom.

Val 

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Matt Motil
Rental Property Investor · Cleveland, OH · Member since 2015 · 1k+ posts · 880 votes
10y

Keep in mind that many real estate agents have never actually purchase a home for themselves, let alone an investment property. That being said, you need to know that going into one of the big box offices. You get the name of KW (nothing against them), but you also get the reputation that comes with them. Are they known for being an investment brokerage? Do the people that claim they will "mentor" you know anything about being a real estate entrepreneur? 

Being someone that was an investor first and then got my license, I can tell you that I am so happy I did it the way I did it and so glad I got my license. But you need to work with a team that has the same vision, mission and goals as you. Don't be afraid to go with that brokerage that not many people know. You provide so much more value with your experience and you can market that to them. Many people don't want to go with the 800-lb gorilla because they fear they are just going to be a number to the brokerage and not get actual quality service. Boutique firms can provide a much more personal touch. 

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  • Matt Motil
    Rental Property Investor · Cleveland, OH · Member since 2015 · 1k+ posts · 880 votes
    10y

    Keep in mind that many real estate agents have never actually purchase a home for themselves, let alone an investment property. That being said, you need to know that going into one of the big box offices. You get the name of KW (nothing against them), but you also get the reputation that comes with them. Are they known for being an investment brokerage? Do the people that claim they will "mentor" you know anything about being a real estate entrepreneur? 

    Being someone that was an investor first and then got my license, I can tell you that I am so happy I did it the way I did it and so glad I got my license. But you need to work with a team that has the same vision, mission and goals as you. Don't be afraid to go with that brokerage that not many people know. You provide so much more value with your experience and you can market that to them. Many people don't want to go with the 800-lb gorilla because they fear they are just going to be a number to the brokerage and not get actual quality service. Boutique firms can provide a much more personal touch. 

    1Reply
  • Account Closed
    Rental Property Investor · Decatur, GA · Member since 2016 · 155 posts · 57 votes
    10y
    Hi Val Lemoine I've been considering getting my Realtor License but haven't done so for this exact reason. I've gotten very contradictory advice on the matter. Since Investing would be my primary focus, I've been told the "disclosure" aspect would present roadblocks when attempting to acquire deals. On the other hand I've been advised that becoming an agent would be beneficial in many ways to my REI business. And as long as I'm operating ethically then disclosure shouldn't be an issue. I'll be following this post closely as I'm anxious to see what feedback you get on this subject. Good Luck
    1Reply
  • Chris Soignier
    Real Estate Broker · North Richland Hills, TX · Member since 2013 · 1k+ posts · 607 votes
    10y

    You'll get contradictory advice b/c there are both pros and cons to being a Realtor.   I like being a Realtor/investor, but won't argue w/ anyone who feels having a license is more of a detriment.    I can say the the KW offices in my area are not investor-friendly, though they do have a great retail training program.

    1Reply
  • Michael Dake
    Commercial Real Estate Broker · Huntsville, AL · Member since 2016 · 22 posts · 7 votes
    10y

    Find a commercial brokerage. Search "SVN Difference" on Youtube to get a view of commercial brokerage. The mindsets of residential and commercial brokerage are sufficiently different that being in a commercial setting is worthwhile. You may still have options to join a NAR affiliate and have access to the MLS (our office is not NAR, but some are), if that is important to you.

    1Reply
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