Real Estate Investor turned RE Agent Questions

Real Estate Investor turned RE Agent Questions

Flipper/Rehabber · Arvada, CO · Member since 2019 · 63 posts · 47 votes

Looking for your experience, advice, agencies that deal with investors in pursuit of their RE License!

My story....

Have a small RE investment company that buys, rehabs, flips (now getting into the rental game) and have worked with a few agents over the years (Your Castle Realty, InMotion Group Properties). With the business goals (plus wanting to cut costs on sale of properties) made sense to get my RE license. I'm in the process of that currently. My hubs and I run the company and sell/flip on average 2 houses a year (he does a lot of the work himself/manages the projects) - looking for agents with experience on the investing side, turned RE. A few specific questions: 

  1. 1. Any advice in finding an agency that may be geared towards investors who want to sell their own houses, not necessarily become a full blown agent? 
  2. 2. Any specific advice for those out there who have done this/not done this route? 
  3. 3. Any agents out there in the Denver metro area who may need an assistant? Hate to throw a blanket request out there - I'll be personally reaching out to agencies as well. 

Am all over the information on the forums here, want to attend some upcoming events around Denver in the New Year, and am all ears for learning. Really appreciate this community and all it's members! Thanks in advance - cheers!!!

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Russell BrazilBusiness Member
Moderator
Real Estate Agent · Washington, D.C. · Member since 2012 · 17k+ posts · 30k+ votes
6y

I was an investor first, then an agent. Just a thought.....I dont sell my own properties because my e&o insurance will not cover transactions where you are a principal. Due to this, I have one of my colleagues sell my properties. I do the same for him. 

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  • Specialist · Riverside, CA · Member since 2015 · 6k+ posts · 3k+ votes
    6y

    @Catie Lawrence depends how much broker support you need, if it is minimal you can go with some of the flat rate brokers if you need a little more support you can probably find someone with a 90/10 or better split.  You could also consider becoming a broker in a couple years yourself.

  • Real Estate Agent · Colorado | stan.store/JamesCarlson · Member since 2014 · 2k+ posts · 2k+ votes
    6y

    @Catie Lawrence

    Great post. I think you're at the right place. My wife and I are getting our employing broker license here in the next few weeks so we'll be interested in hearing from people like you. 

    I think what @Aaron K. said is correct. If you're looking for any kind of actual direction and input on deals and the process, I'd go with a brokerage that will actually hold your hand along the way and make sure you succeed. Some of the bigger box agencies in Denver are really all about volume. They'll take anyone and if you make a deal, then great, they get some money, but you're really just a number. A smaller/medium agency is better in my opinion and make sure you know who it is that you'll talk to about deals and that you know they're going to be there when it counts.

    If you don't need any direction at all, then go with a discount brokerage that charges a small monthly fee and a small portion of any deal. We've been with Broker's Guild. They take $25/mo and $195/deal. But you get what you pay for with that as well. 

    I wish you luck. 

  • Real Estate Broker · Member since 2019 · 28 posts · 11 votes
    6y

    Hi @Catie Lawrence! I am certainly happy to discuss the process & value of the license as I just went through it myself.

    @Brad Uhlig was a good resource for me when I was trying to figure things out and see how a license can help (or not) with my investing. I am sure he would be receptive to you reaching out to him.

  • Real Estate Agent · Denver, CO · Member since 2017 · 98 posts · 33 votes
    6y

    Thanks for the mention Nicholas!  Happy to have a conversation with any investors that want to also do brokerage.  Cheers!

  • Flipper/Rehabber · Arvada, CO · Member since 2019 · 63 posts · 47 votes
    6y

    @Aaron K. Thank you so much - great thing to keep in mind.....those splits will matter!

  • Flipper/Rehabber · Arvada, CO · Member since 2019 · 63 posts · 47 votes
    6y

    @James Carlson - awesome, would definitely like to keep in touch to see your experience. It's exciting and overwhelming at the same time! We've typically gotten our properties ourselves, via Whole Saler's, and are in a good cash position to do so, but want access to MLS as well. And hey, I'll take any guidance I can get - especially on the selling side (as I've not done one of those myself yet!)

  • Russell BrazilBusiness Member
    Moderator
    Real Estate Agent · Washington, D.C. · Member since 2012 · 17k+ posts · 30k+ votes
    6y

    I was an investor first, then an agent. Just a thought.....I dont sell my own properties because my e&o insurance will not cover transactions where you are a principal. Due to this, I have one of my colleagues sell my properties. I do the same for him. 

  • Flipper/Rehabber · Arvada, CO · Member since 2019 · 63 posts · 47 votes
    6y

    Hey @Russell Brazil - yes, I'm wondering about that angle as well - if ethics would come into play (being partial) - and dang, didn't even think of the insurance end of things - yet another added cost to the RE side of things. Thanks for commenting!!

    And curious, what's been the biggest surprise/unknown you've had to deal with becoming an agent from an investor? Good and bad? If you're willing to share/DM me too. Greatly appreciate this community!!!  

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