Why I'm going to earn my RE sales/broker's license

3 Replies

Often I read here and have heard multiple times on the podcast questions concerning the usefulness of being a licensed agent, when one's ultimate aim is to invest, not to be a salesperson or broker.

However, I am now sure that I must become a licensed agent so that I can pull the proverbial trigger on my preferred schedule. These last few months, three awesome deals slipped past me, in part, due to my agents' scheduling conflicts. They either couldn't show me a property for days, or they were not prompt in placing my bid in to the HUD system.

Today was the final 'straw'. For a week I've been more or less begging agents to show me a house listed at 26k in an area where comps are 80-120k, and this property was 3k in repairs away from being ready to sell to home-owners (e.g. floor coverings, paint, etc.). It was a HUD on daily bidding. Finally I saw it today, but it turns out somebody won a bid yesterday. I was going to have my agent place the bid at full price tomorrow morning.

Either I'm finding the wrong agents, or I need to take matters into my own hands.

@Michael Miller  

  your on the right track  if you want it take it... even the best agents have lives to live..

RE license is something that you can use for the rest of your life. 

MLS deals are of course just one course of action to acquire but a necessary one. Either that or partner with an agent so they will be as motivated as you are.. Nothing prevents you from paying brokers buyers commish.. If that was my deal I would have offered the broker double commish to get it for me... better than losing it.. and that may have motivated them.

Remember in that price points commissions are nothing.. usually a flat fee.. but if its a 26k deal and they are making 3%  or 750 bucks and you stand to make 40 or 50k ... were is the logic of having the nexus to the deal making squat while you make a killing ... you just lost 40k  that's the bottom line..  a 5k bonus would have been appropriate in this case...  ANd or the agent may have wanted it for themselves you fight that as well...

so yes get your license control your business from all ends.

@Michael Miller you are correct in your thinking. It is incredibly simple. Anyone who is attempting to buy MLS properties & does not have their own license is at a competitive disadvantage to those of us that do.

I think there are some liabilities to having your license but there are also benefits. In my case I decided not to get a license because I didn't want to invest 2k (licensing fees, realtor association fees, broker fees etc.) Before getting started in the business. I actually work with several realtors (about 12) to get things done. If one is busy I just get another one. You could try using realtor.com and sending messages to several realtors in your area then work with whatever one is most responsive. 

Also the commission bonus is a great idea too. Totally worth it not to lose a great deal.

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