So I'm an engineer and looking to get my license just to have for the few deals that come my way.
Curious, do agents need to be tied to a parent office? Can an agent just operate on their own? No minimum production or any of that full-time job BS? Can I broker my own deals without having to pay a fee to some other office? I would love to get some input on this as I start planning my training.
Maybe of note, I have connections to CA and TX too that may be a better route to get licensed instead...still at exploratory phase.
Hey Adam! Yes, you will need to be tied to a broker for your first two years as an agent. From there, you can take a licensing exam to become a broker and you can go out on your own. As far as minimum production, it will vary from broker to broker. Some are fine with just letting people hang license in their office so they can take half their commission. However, you're going to get out what you put in. If you want to work for a broker that is going to be invested in you, answer all your questions, and help you grow your business, you'll definitely want to be spending time at the office and showing an effort on your part as well. Great way to be a team player is holding open houses for other agents in your office. (Great way to get new clients too!)
Like Jefferson mentioned above you would need to hang your salesperson license under a sponsoring broker no matter what state you are in but you can get a broker license to be on your own after a few years of experience.
Also a note about getting licensed in Texas...a requirement to get your real estate salesperson license in Texas is that you must also be a resident of Texas so that's just something to keep in mind.
Real estate licensing is state specific. You will need a license in every state you wish to conduct business.
Look for a brokerage that only charges you a per transaction fee. So you're only paying when you do business.
Most brokerages will require that you join an MLS and Realtor associations. A MLS subscription is almost a necessity if you are helping buyers find homes or listing them for sellers. The Association of Realtors is where your forms live which are also critical to a part time business of helping people buy and sell real estate. The cost of this will vary from board to board, but assume this will cost $1500/year annually in Idaho.
View the requirement of affiliating with a broker as a good one. If you are transparent when shopping with a broker that you are doing this part time and only intend to do a few deals a year, there should be no issues. Find a broker that will provide full support to you in this arrangement. Particularly starting off, your broker can be an invaluable resource to help you navigate the business.