Future Real Estate Investor starting Real Estate Agent Class

New Member Introductions
12yFollow

Future Real Estate Investor starting Real Estate Agent Class

Austin Smith
Real Estate Agent · Newark · Member since 2014 · 55 posts · 31 votes

Hello everyone!  Name is Austin, new to BiggerPockets.com 

I wanted to start a simple discussion before I begin my Real Estate Licensing class tomorrow. 

I wanted to ask. Do many investors start as real estate agents or do they simply dive right into the game?

I'm new to real estate all together, however, I have always had a passion for real estate investing. My plan is to begin as an agent to get my feet wet within the industry and then begin investing. I would not mind being an agent as my career while also investing on the side. Being an agent will only help me in the long run. Please let me know your thoughts!  They will definitely be appreciated.  

0Reply
16 views

6 Replies

Jump to latestLatest
  • Joel OwensBusiness Member
    Moderator
    Real Estate Broker · Canton, GA · Member since 2010 · 15k+ posts · 11k+ votes
    12y

    Make sure you have 6 months reserves saved up if you are not working another job when becoming an agent full time.

    You will need that cushion to build momentum. 

    Podcast Guest on Show #47
    NNN Invest53 Reviews
    WebsiteView Page
    0Reply
  • Steve Vaughan
    Rental Property Investor · East Wenatchee, WA · Member since 2014 · 10k+ posts · 16k+ votes
    12y

    I took the RE agency license classes. They mostly teach some laws to keep yourself out of trouble, the exact sqft of an acre and how to obtain listings. I would imagine the biggest advantage is access to the MLS. You can see listed property as soon as hits, find expired's and pull comps. With the license comes the requirement of full disclosure when dealing with sellers and costs to hang your license on someone's wall. More education though is never a bad thing!

    0Reply
  • Austin Smith
    OP
    Real Estate Agent · Newark · Member since 2014 · 55 posts · 31 votes
    12y
    Originally posted by @Joel Owens:

    Make sure you have 6 months reserves saved up if you are not working another job when becoming an agent full time.

    You will need that cushion to build momentum. 

     Understood. What's your take on Part time vs full time.  I would love to go part time in order to keep my day job. However, I am also aware success will come from Full Time endeavors. How would a newbie agent stay focused while going through those first 6-8 months seeing limited commission checks. 

    0Reply
  • Austin Smith
    OP
    Real Estate Agent · Newark · Member since 2014 · 55 posts · 31 votes
    12y
    Originally posted by @Steve Vaughan:

    I took the RE agency license classes. They mostly teach some laws to keep yourself out of trouble, the exact sqft of an acre and how to obtain listings. I would imagine the biggest advantage is access to the MLS. You can see listed property as soon as hits, find expired's and pull comps. With the license comes the requirement of full disclosure when dealing with sellers and costs to hang your license on someone's wall. More education though is never a bad thing!

    Thank you for your input Steve. I see you're an investor. Did you start out as an agent or did you take the license course in order to gain access to the MLS. I figured while learning how to invest, why not take a career that will indulge you within that industry and give you the opportunity to make good money. Obviously nothing is easy and everything comes with experience.

    0Reply
  • Jim Lally
    Investor · Middletown, RI · Member since 2008 · 174 posts · 27 votes
    12y

    @Austin Smith 

     Welcome to BP!  I definitely have to concur with what Joel is saying.  Unless you have another source of income in your first year or have at least 6 months of reserves built up then it will be difficult to achieve your goals.  It will take time to establish yourself in your market.  The typical sales cycle can be up to 90 days or more.  You also have to consider the startup and ongoing costs involved with being a realtor.  In my state annual cost run  approximately $2.5k.  Talk to several brokers to get a full understanding  of what those costs will be for you.

    I got my real estate license as well but kept my full time job.  That may be an option to consider if your currently working.  I have other agents assist me with showings and I primarily market to  investors vice the retail buyer.  Therefore I focus my efforts on a particular niche market. 

    Overall I think having your RE license is a good idea for the investor though.

    Best of luck!

    Jim

    0Reply
  • Austin Smith
    OP
    Real Estate Agent · Newark · Member since 2014 · 55 posts · 31 votes
    12y

    @Jim Lally  Thank you for your feedback Jim.  Did you start off as a real estate agent or did you just jump right into the world of investing using your license as a helpful tool? 

    I will most likely keep my full time job while I get my feet wet in the industry. Trying to decipher whether part time will be beneficial enough, or if I should focus on saving 6-8 months of expenses and diving head first into the agent field.  What's your take?

    0Reply
Join the conversationCreate a free account to reply, vote on answers and follow this thread.
Log InJoin for Free