Real Estate Investor · Poughkeepsie, NY · Member since 2008 · 69 posts · 4 votes
I got my NY state salesperson's license in 2004, and unfortunately found myself in an office with a broker who monopolized all of the action. I spent over $1000 just to get my real estate license and join the multiple listing service, never made a dime, then was told I had to shell out another $500 to join the local association of realtors. So I gave up.
But lately, I am inclined to get my salesperson's license again, and pursue my goals as an investor/future broker more aggressively. There are some amazing deals out there, if you're connected in the real estate community. And I'm going to find them!
Has any one else here become a salesperson in the hopes of being an insider in the real estate community?
In my experience as an investor a license sure can help you a lot more than it can hurt you! As long as you business practice is legit and honest. And who isn't these days. :)
If you are doing enough deals to cover the costs, absolutely. With the online classes you can buzz through the education requirements in a month or less. It's not just access to the MLS, more importantly it is the ability to look at many properties and write contracts yourself. I work full time so being able to look at properties on my schedule is important as is the ability to handle my own contracts directly. As for the license fees I don't have any problem generating leads and I pass out a good four or five a year which more than covers my MLS/Realtor Fees at .25% referral.
A big yes it is. Its been great for me and I found a company in Ontario Canada, actually just outside of Toronto called Mississauga. Mississauga has a Brokerage that charges a very low administration yearly fee of about 150.00 and thats it. The company is called New World 2000 Realty Inc. and there are no surprises with these guys. Check them out here http://www.parkyourlicense.com and if you dont have one near you then maybe you can talk one of your nearby Brokers to start a business like it. Good luck.
Jay K,
Thanks for your post. I went to the site you recommended. However, I don't know of any similar companies in the U.S. That's probably due to the capitalistic nature of the real estate business in the U.S.
When P.T. Barnum said that there was a sucker born every minute, he certainly knew what he was talking about.
Moneypenny