My wife and I are new real estate investors in Houston and my wife is starting the process to get her Real Estate License. She has no current interest in actually selling retail homes, but is getting her license so that we have access to the MLS, can control our own deals, and can save some money on the realtor fees.
With that being said, is there any Real Estate Brokerage firms that dont charge a high monthly fee or only do commission based fees that she could sign up with?
Thanks for the help!
@Account Closed - It should not be too hard. I have found the independent brokerages do not have the desk fees or costs to associate your name with the brand. Have you attended Houston REIA meetings? That would be a good place to ask around
Most people in the same situation use Champions Real Estate for their brokerage. Don't confuse it with Champions Real Estate School. They are different businesses.
I decided to go with Connect Realty. They charge me a low yearly fee and I get to use a lot of cool online tools and apps for my iPad.
Hope this helps.
I became my own managing broker. I report to no one, pay no fees, split my commission with no one else.
@Kimberly H. That's always nice eventually, but for the OP, you need 4 years as an agent (in Texas) before you can be a broker.
Find an investor brokerage company that doesn't care about risk. Meaning they do their own deals and if they lost their licensing they are still okay with cash flow from properties owned.
Brokerages that have built up considerable business do not want the liability of newly licensed agents especially ones doing riskier investment deals that involve strategies that open a brokerage up to E and O claims.
As a brokerage and principal broker you still answer to clients and your state real estate commission.
New investor, newly licensed = recipe for disaster for a brokerage E and O claim.
I had agents years ago and got rid of all of them. Nothing but a liability and most standards of professionalism and follow up are low. Then I end up as head broker making the deal go through and giving most of the money to them. I work with commercial clients one on one these days and do my own investments. No drama and life is great.
Find one of those low fee companies and they should help you out.
@Account Closed I'm with Champion Real Estate Group. They charge about $175 a year and a small broker fee per sales transaction. They don't take a percentage of your commission. Just a set fee. It's ideal for an investor.
2 years as an agent (in California) before you can be a broker.
Oh wow, I had no idea! Here you can start working for your own brokerage immediately. Good to know we have something going in our favor here in Cook County. Not worried about any disasters on my end, I'm smart enough to figure a lot of things out, and have a good friend who is an attorney who does some real estate transactions.
@kimberly... As of 2012 when we bacame a broker only state you need to be a broker for 2 years before becoming a managing broker.
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