I definitely recommend it, although it has its drawbacks too.
- Massive amounts of exposure to real estate. It is now your job to become good at marketing yourself, learning a market, figuring out comps, and learning how to talk real estate
- Constant exposure to people interested in buying/selling real estate. It's one of the few professions where you'll get in front every type of person you can imagine. From doctors and lawyers, to hair dressers and stay at home Dads. It's such an incredible profession for expanding your network
- You can use the MLS and other powerful tools for analyzing markets and seeing whats available.
- You can show yourself any house, without having to waste someone elses time
- You can list your own properties and save 3-6%, and you can buy your own properties and save 2-4%.
- Good way to make large amounts of cash for investments
- You're considered a Real Estate Professional and must abide by the rules set forth by your states commission. I personally have to disclose to everyone I talk with that I'm a licensed agent.
- Other agents don't take kindly to your direct mail campaigns occasionally landing on the doorstep of their active listings. I make sure to clearly state in the letter that I'm a licensed agent, but I'm reaching out as a cash buyer, not an agent looking to scalp listings.
- Continuing education requirements and yearly fees.
- You always run the risk of being sued, even if you didn't do anything against the rules or immoral. There is a lot of money being passed around in Real Estate, so you need to make sure you're protected with insurance and following the proper protocol at all times. NEVER offer legal or financial advise.
I'm both an agent and an investor. I like being an investor more, but being an agent gives me the cash to help buy more rentals. I'll eventually give up being an agent, but it's the main reason I've been able to grow so quickly. It's hard work, but you learn a ton and it can be really fun during the peak season when you're juggling 10-20 deals at the same time, trying to keep them all on track.
I think the majority on here are Realtors. We simpy just dont add it to our profiles as there is no place that makes much sense to do so.
I dont know any brokerage in my area that does not require being a member of our local board, so in order to do business here it is a must.
On top of my dues, I also donate money to my Realtor board, and Im actively engaged with it. We perform a great number of services for our members, the most important of which is our ability to pool funds and lobby. Many people may be aware of the new 20% pass through deduction. Well real estate agents can thank NAR for making sure agents were able to get this deduction while other professions were excluded.
@Russell Holmes Haha wow, I think I completely misunderstood the question poised in this post. Sorry about that.
I don't really have much to say about this. I clearly need to research NAR and the other options available to real estate professionals other than being a "Realtor".
I’m in Texas and my annual membership fee is including local association, state association TAR and National association NAR, no other options around it.
Many people join because they have no choice. Most brokerages require you join because that's how the rules are set up. With most boards, if the broker is a member of a board, all licensees who hang their licenses with them must be members also or the broker is charged a fee. In many geographies a local or state board require board membership for MLS membership.
When I needed to be a member, I joined, though I always withheld contributions to RPAC. Now that I'm out on my own and don't need to be a member to do what I'm doing, I'm not a Realtor. Personally, I don't support the organization for the same reasons I don't support closed-shop unions.
Most in the public don't know the difference between a salesperson, broker, agent or Realtor and the titles are used interchangeably.
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