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!

Create Lasting Wealth Through Real Estate

Join the millions of people achieving financial freedom through the power of real estate investing

Start here