New Agent Looking for Investor-Friendly Broker

2 Replies

Hello BP family! I am a newly licensed real estate agent looking for broker recommendations in the NW Miami-Dade County (Miami Lakes, Hialeah...) or South Broward County areas in FL. 

I primarily decided to get licensed for personal investing purposes, and for this reason looking for an investor-friendly broker, but would also like to gain experience as an agent part-time. I plan to check with local REIA clubs for recommendations as well, but was wondering if anyone here has had a good experience with a particular broker, or knows anyone they would highly recommend. I'd really appreciate your suggestions!

@Maria Torres congrats on getting your license! I am not local, but I can tell you how I found the right fit for me here in the Oak Park area. I ended up going with a 100% commission broker where I pay a desk fee and transaction fee. The low cost of holding my license was attractive, and I also found that the big brokerages didn't end up offering much value for the investor friendly agent. My sponsoring broker is still available if I have questions about compliance or contractual issues. I don't work out of an office (although I have one), but I find that Starbucks is a more comfortable place to meet new clients anyways. 

Now that I have found my niche, my business has grown considerably working with small investors in the Oak Park and Berwyn area. I have been able to re-invest the part of my commission I would have given to the brokerage into my own business. This extra marketing money has been very important for me personally. 

I see from your profile that you are a veteran. Is this going to be a big part of your model? If so, is there a particular lender or brokerage that was helpful to you in the duty station where you are now? 

Hi Maria. 

I did the same thing ( Ithink we all do), go out and get a real estate license in order to start investing. I recommend going to your local established REIAs that are accredited by the National REIA as they are held to higher standards than other REIAs.

Miami Lakes & Hialeah are where I grew up and I always love finding deals there. Glad to hear you're getting started as there are plenty of deals. 

I went to the Broward REIA in 2012 and learned how to actually invest. It was an amazing experience and I continue to learn from colleagues today.

I also recommend Charles Rutenberg Realty. They are professional and give you 100% commission with only a $399 transaction fee. You have to know your contracts, addendums, etc. if you sign up. 

If you decide to go to one of the REIAs, send me a message and maybe I can introduce you to some good people. The next meetings are this week. Broward is on Wednesday and Miami-Dade is on Thursday. 

Good luck out there!