Licensed, but not to be a Realtor
Happy New Year, Bigger Pockets family!
I hold an Indiana Real Estate Broker license which is currently in referral status. The license was active for a couple years but I had prematurely obtained it. The purpose of getting licensed was always for the benefits it provides as an investor rather than actually being an agent.
That being said, I’m looking to take it out of referral status and affiliate with a broker as I begin looking for my first property. I’m not interested in a brokerage that wants to make me an agent, so I need some recommendations for brokerages that have low “desk fees” or “cloud fees”. Again, I’m strictly using the license for investment purposes and do not intend to act as an agent for any parties outside of the investment property market.
I know a lot of you are in the same position, so what has worked best for you? How have you been able to use all the benefits of being licensed while minimizing dues and fees? I’m not really interested in being recruited, but if you have any advice or experience, I’m completely open!
Thank you in advance!
Have you looked into joining eXp? I'm a brand new agent with them and I won't pretend to know all the ins and outs of what they have to offer. What I do know is they are a cloud based company with very minimal fees to start up and throughout the sales (I have a few friends that have been with eXp for a few years. Let's connect and I can send you the link to one of their presentations to see if it's what you're looking for.
@Kevin Ochs The brokerage I am at have no monthly fees and transactions fee of $399.
I am doing the exact same thing as you. Not interested in being a real estate agent for other people, but I want to be able to buy and sell houses for myself.
I am with one of the 'big' real estate agencies, because I had some good contacts there and it's helpful to be able to have someone to ask questions (they do this all day every day). Their fees are not too bad - small enough that I'm not sure what they how. However, I'm not sure you can get around paying the NAR and local association dues, and the MLS fees. That's a lot, but it's MUCH easier to find investment properties using the MLS.
Good luck!