Hello. Recently passed the California sales person exam (yayy!)) . Posting here to request any information on joining a broker as an agent for deals in distressed debt .
Congratulations on passing the test! Get your license application sent in and start interviewing brokers now.
Remember, you are interviewing them just as much as they are interviewing you. Be clear on what your goals as an agent are and ask as many questions as you need to to see if they will be a good fit for you.
Best of luck with the new venture, let us know how it goes!
Flipper/Rehabber · Saratoga, CA · Member since 2015 · 49 posts · 16 votes
5y
Congratulations on passing your exam, Scott! I think the license will definitely benefit you for transactions and networking with others in RE. However I am not sure it will benefit you in distressed situations. Most distressed transactions are off market and private, where the buyer(investor) is bringing all cash and no to minimal contingency in order to resolve the distress. The market listings you will handle (as a sales agent) usually involve a 30-45day escrow, and that's after the offer is accepted. Any reputable broker will offer you training on the sales process, just pick the one that you can live with their commission split structure. Good luck! You will do well with CA Real Estate!