Real Estate Agent · Destin, FL · Member since 2018 · 2 posts · 1 vote
Just licensed in Kansas City Missouri, I’m more interested in RE investments than actually being a realtor. Obviously I know very little. Do I join a top team in the area and learn the ropes or do I hang back? I just feel like it’s now or never! Seems like most top teams want me to join full time though... thoughts?
Real Estate Agent · Carlsbad, CA · Member since 2017 · 53 posts · 68 votes
7y
I had a similar question for myself at the end of summer. The biggest question I had to answer for myself was, do I want to help people find their first home with the emotional side of things OR do I want to help other investors find their first second third, 100th deal. difference is the emotional RE agent or the analytical RE agent. Investors are more concerned about how the investment is going to earn them money not do they think it is a good looking property.
The advice I received from a seasoned agent near me is going with a agency that has quality training and interview them on their business.
I do personally feel like the market is near some sort of correction or turn, however that isn't going to stop me from becoming a agent.
I was working part time for a construction company and studying for my RE license, I decided to take the plunge for full time. I built up some cash reserves through my job and allowed myself to take some time off before going full time RE to further my education and get networking.
My advice, I listened to the Ken Coleman show (podcast) and read a few books to get my mind right with where I want to be and more importantly WHY 5 years from now. RE agent will be my vehicle for that!
Rental Property Investor · Member since 2019 · 407 posts · 267 votes
7y
If you're more interested in being an investor, don't become an agent just to "save the commission". This will cost you a lot more in the long run. Instead, find an experienced agent to work with and pay them well.
Real estate is a full time sport. Many people try to get into the real estate sales business and fail. The stats are brutal. The number one reason part-time agents fail is that they have a lifeline with another job. You need to cut the cord right away and force yourself to succeed.
Real Estate Agent · Carlsbad, CA · Member since 2017 · 53 posts · 68 votes
7y
I had a similar question for myself at the end of summer. The biggest question I had to answer for myself was, do I want to help people find their first home with the emotional side of things OR do I want to help other investors find their first second third, 100th deal. difference is the emotional RE agent or the analytical RE agent. Investors are more concerned about how the investment is going to earn them money not do they think it is a good looking property.
The advice I received from a seasoned agent near me is going with a agency that has quality training and interview them on their business.
I do personally feel like the market is near some sort of correction or turn, however that isn't going to stop me from becoming a agent.
I was working part time for a construction company and studying for my RE license, I decided to take the plunge for full time. I built up some cash reserves through my job and allowed myself to take some time off before going full time RE to further my education and get networking.
My advice, I listened to the Ken Coleman show (podcast) and read a few books to get my mind right with where I want to be and more importantly WHY 5 years from now. RE agent will be my vehicle for that!
Wholesaler · New England · Member since 2015 · 40 posts · 21 votes
7y
I have a different opinion.. I got my RE license prior to buying most of my apartment buildings, for various reasons, ( investor for 26 years ) other properties I bought before were not great deals, yes putting half of the commission in my pocket when I bought, ( licensed for over 22 years in 2 different States ), and always having access to MLS , plus I have made sales for extra income to invest. Also, to keep up on laws, trends and making valuable contacts. If your relying on another agent you may miss the great deals, holding a license costs approx. $1k \ yr. for me
I am a full time investor and still hold my license.
When I first got licensed, I went through office sales training which I thought was quite valuable and can help in negotiating your deals, etc. When I practice RE sales now, I specialize in investment properties and love to help out new investors in my area who are starting out and give them the experience to get them on good footing starting out.
Specialist · Kansas City, MO · Member since 2018 · 331 posts · 148 votes
7y
In my experience, having your real estate license is a tool. I decided to get licensed and help other people buy investment properties because I wanted to learn the transaction process, how to find deals and make connections. It was invaluable. I completed over 90 transactions last year - ALL of them for investors. Find the best investment broker and work with them. I know them all in KC. Ever thought of commercial?
I think having your license is valuable, even like @Rex T. said - if you only buy/sell your own properties you can make it worth it.
I would start with the end in mind - what is your goal? Is this your only source of income, etc...
Real Estate Broker · Kansas City, MO · Member since 2017 · 537 posts · 292 votes
7y
Hey, @Josh Parish, that's a great question! Like the guys mentioned already in their responses, it's really about what you're looking to do and where you want to be later down the line and WHO you want to become; inevitably we're going to become like those we spend a lot of time around, so we gotta choose wisely!
I've been licensed for 5 years, got my broker's license about 3 years ago and I help run a property management company here. I hung my license at 3 different companies before I got with a group and we started our own. That was 3 years ago.
It's been nice to be able to streamline the entire process from A to Z with my investor-clients. It's been the best way for us to really and truly serve them and we get access to lots of deals that we can buy as well. Let me know how I can help; I'd be happy to talk shop with you sometime as well! :)
Flipper/Rehabber · Kansas City, MO · Member since 2011 · 2k+ posts · 712 votes
7y
Broker investor here, but not to make the commission but to have the option to access MLS and check up on the Realtor, do my own comps and just more ease of use. Plus it is a tool, sometimes it makes more sense to list a property or refer it out and make money for doing not much.